CPA Firms Are Using OfficeTools and APX to Support Their Unique Needs

APX, Practice Management

Changing industry practices, workforce transition, and technology adoption are transforming the face of accounting. For example, 2021 was a record year for mergers among firms. The move to a hybrid or remote workforce accelerated digital transformation for many. With client services top of mind, firms are offering new pricing and payment models. 

The AbacusNext team recently talked with a number of firms about the positive impact that OfficeTools with APX automated payments has made on their business. 

Not surprisingly, every firm we spoke with reported time savings and improved efficiency in the billing process. The real eye-opener was the variety of approaches firms are taking in using OfficeTools and APX to meet their own unique needs. Following are three distinct examples of firms that are employing the powerful combination of OfficeTools and APX to serve their own unique business models. 

Customized Workflows Save Time: Forsyth Holtzman

This Georgia firm of 15 employees serves 1,500 clients with a wide range of services, including accounting, bookkeeping, payroll and audit. They pride themselves on their willingness to take on any outsourced service that a client might request. 

The firm handles a high volume and wide variety of billable activity. The firm was formed from a merger of two existing firms, both of which already used OfficeTools. That meant no onboarding process was necessary – instead, the clients and their accounts were simply merged, with a little fine-tuning where necessary.

Automated payments allow the firm to get paid far more quickly than it did in the days of paper invoices and checks. In fact, with the APX Pay Now link, 75% of the firm’s clients pay the same day they receive the invoice. With Pay Now, clients are more likely to simply click and pay, rather than leaving a paper invoice to sit in an in-basket. As a result, AR collections require far less effort.

“That’s what I like about OfficeTools – if we want something very customized to just our firm, we can get OfficeTools to do that for us. Other platforms just don’t have that.”

APX automation drastically cuts manual processing time. Forsyth Holtzman reports that the firm saves a full day of effort each month over the old process of manually entering payments. 

Get the full story on Forsyth Holtzman: APX + OfficeTools from AbacusNext: The Ultimate Efficiency Builder

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Bonin Kaster Souder – Big Fans of Recurring Billing

Technology has enabled the growing popularity of subscription billing. The ability to easily charge and process automated, recurring payments with APX and OfficeTools has made subscription billing for accounting services not just viable, but beneficial for both clients and accountants.

Accounting work leads to fluctuations in billing over the course of the year, due to business cycles, month-end and year-end closings and tax deadlines. Activity-based billing results in fluctuations in revenue management for the firm and budget management for clients. Recurring – or subscription-based – billing smooths out the lumpiness and offers substantial benefits for all parties.

The firm had always required recurring billing for all clients utilizing monthly services such as payroll and bookkeeping, even before implementing OfficeTools and APX. Its use of OfficeTools, mostly as a project and calendar management tool, expanded significantly with the introduction of recurring payments in APX. Today the firm bills every client monthly using APX.

Get Insights on How Bonin Kaster Souder Saves Time with OfficeTools and APX

Slater & Rutherford – Going All-In with the Rich Features in OfficeTools and APX

Since the initial 2009 implementation, OfficeTools is truly the foundation of Slater & Rutherford. The firm has staff of 20 employees serving businesses and nonprofit organizations in Arizona. 

“I would say it runs our office, so we use as many pieces as we can.” 

OfficeTools is the firm’s workflow tool for getting projects through the office, a timesheet keeper and time tracker for capturing billable versus nonbillable hours, a base for contact management and billing clients and an internal document flow tool to access documents. 

The firm also uses the OfficeTools portal, allowing clients to access documents and exchange documents with the firm. An e-signature feature rounds out all the functionality that clients need. 

OfficeTools also functions as a top-level reporting tool for all facets of the business, including revenue reporting, time and utilization reporting and billing reports via APX.

The firm used to take credit card numbers over the phone. It made the switch to APX after learning that APX would process credit cards at a lower cost. As usage expanded, the firm added Pay Now functionality and online recurring payments, making things even more convenient for clients.

Read More about OfficeTools and APX Superusers Slater & Rutherford

What Makes Your Firm Unique?

Does your firm need an efficient practice management system to support high-volume work? Perhaps your focus is on offering clients a recurring payment plan. Or is your strategy to automate workflows and payments processing for a better bottom line? 

OfficeTools and APX can help you reach these goals and create your firm’s future.

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