I & R Business Consultancy is a growing practice in Singapore. Prior to moving t QuickBooks Online they were using a complex system that clients found difficult to use. They are enjoying many productivity improvements since moving to QuickBooks Online, staff training is much faster. Their clients find the system much easier to use and appreciate the access they now have to real-time financial data that they can use to make decisions.
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ACCOUNTANT CASE STUDY | INTUIT QUICKBOOKS | SINGAPORE
Accounting Practice impresses clients with QuickBooks Online
Ivy Kang
I & R Business Consultancy
Accountant and Associate Account Director
Overview
Results at a glance
Improved efficiency
The Work tab in QBOA allows the team to collaborate more effectively and ensure nothing is overlooked.
Improved cashflow
Automating invoice reminders has provided enormous productivity savings and also reduced outstanding debtors.
Improved onboarding
Onboarding new staff is now much faster. The online free training and certification ensures everyone has a deep knowledge of the system.
Introduction
I & R Business Consultancy Services (IRBCS) is a professional services firm in Singapore. They have a team of twenty that are dedicated to delivering a full range of accounting services that help their clients build strong and profitable businesses. Their services are comprehensive and span compliance, audit and business advisory through to outsourced accounting services.
QuickBooks Online is a valuable addition to our practice, I have no hesitation in recommending it to other accountants
The problem
IRBCS were using a product that their clients found quite complicated. Training people on that solution was time consuming too, clients were frustrated because a large investment in time was required in order to understand the system.
Navigating the system wasn’t intuitive and many clients felt they needed to be an accountant to use the system and understand the reports. So it was clear to the team at IRBCS that they needed to find a more user friendly accounting system.
“We were becoming increasingly frustrated with our previous accounting solution so we decided to take a look at what systems were available, QuickBooks Online immediately stood out to us,” said Ivy Kang, Accountant and Associate Account Director, I & R Business Consultancy Services.
The solution
The team at IRBCS looked at a number of Accounting Solutions and decided on QuickBooks Online due to its ease of use and rich functionality.
Their customers span a variety of industries so being able to offer them features that will assist with tasks like inventory management and expense tracking was compelling.
The team at IRBCS were so impressed that they decided to use QuickBooks Online Accountant to run their practice. Getting data into the system is more streamlined with features like automated bank feeds, so they immediately noticed efficiency savings.
Training new staff is much faster now, they are able to onboard new starters to QuickBooks Online in half the time. The free on-line training provides additional training if needed and the certification program ensures staff have a comprehensive understanding of the system.
Debtor management is now much more streamlined. Previously they had to email or call clients regarding outstanding invoices. Now they are using the automated email reminders to prompt clients when invoices are due or outstanding which has helped to reduce bad debts and improve cash flow. “I like the ability to see when an invoice was opened by a client, we know the time and date they view it, our clients love this feature too,” said Ms. Kang.
We were impressed with how easy to use QuickBooks Online is, we found it to be really user friendly and it’s clear that it’s designed to help business owners run their business as it does that really well.
Client Adoption
Introducing clients to QuickBooks Online has been a success. The IRBCS clients loved the intuitive user experience and modern interface. In a few short hours they were able to use the system and access the information they need for informed decision making.
The Dashboard is one of the most popular features, clients appreciate the ability to see a snapshot of their business finances in real time.
GST reporting and planning for clients has improved too. QuickBooks Online provides a really simple to use tool that links directly to the Inland Revenue Authority of Singapore. “Clients just need to copy and paste the amounts in order to submit their GST, it couldn’t be easier,” said Ms. Kang.
Support from QuickBooks is 10 out of 10, they always respond quickly and give us the help we need.
Improved access
The mobile app has increased accessibility for the firm also, they are now able to view and send quotes while they are out of the office or traveling.
The apps modern, clean user interface ensured rapid client adoption. Business owners appreciate the anywhere and anytime access it provides, they like having real-time access to the P&L and Budgets from their phone.
Managing Projects and Resources
The Work Tab in QuickBooks Online Accountant is helping the team to stay on track and ensure nothing is overlooked or submitted late. It makes it easy to create and assign projects to team members.
They can also create recurring tasks and request client files from a shared workspace within QuickBooks Online. IRBCS have found that clients respond sooner to requests that are sent through QuickBooks Online as opposed to email.
The Work Tab allows me to easily see which tasks are due for both myself and team members, there are no surprises and everything is completed on time.
Summary
Since implementing QuickBooks Online the team at I & R Business Consultancy has improved efficiency and increased capacity with the team. They have been able to more closely align their resources with business opportunities and improve business performance. The increased access to practice financial data means they are able to unlock business potential.
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