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CRM Tool Automates Tax Resolution for Accountants

A CRM application enables you and your employees to organize client information so that it is easily accessible.

1 min read

Canopy

Canopy

Starting your own business as an independent CPA provides a number of benefits––the freedom to create your own schedule, the independence to set your business strategy, and the feeling of satisfaction that comes from investing your valuable time into yourself and your career. In fact, according to Accounting Web, there is a increasing trend of accountants and other financial professionals working from home.

However, there are also a number of striking challenges that many entrepreneurs and work-from-home professionals face. Simple yet vital tasks like organizing customer information and invoices can be a burden and distract you from your main service offering on a daily basis. Tax resolution duties are critical and must be completed, but are an administrative burden for small businesses if a polished system is not in place. A CRM application takes care of the necessary business tasks and tax resolution duties for you and gives you time to focus on your core service of tax advising and preparation. An exceptional CRM system enhances your current service offering by improving the your tax practice with these three qualities:

Clear organization of client information and projects

Your clients are your number one priority. A CRM application enables you to organize client information so that it is easily accessible and organized. As an entrepreneur, every moment counts. You do not want to spend hours searching through manually created excel sheets, when you could access client contact information and previous client discussions in seconds in your CRM application. CRM tools also allow you to track your customer activity and view the progression and history of each client relationship. These features enable you to provide better customer service and maintain a high level of organization in your customer interactions.

Real-time information available to clients and internal counterparts

CRM applications give your CPA practice the tools to efficiently plan client projects and share files with your internal coworkers or external counterparts. Your clients can check in on the status of their account at any time, as the billing information is readily accessible to them. In addition, when working on internal projects with your coworkers, you will have a seamless system where you can share deliverables, deadlines, and necessary tasks with team members involved on the project.

When it comes time for billing your clients, you want to pick a CRM application that has a built-in invoice system. You want to choose a system that makes it easy for your clients to complete a payment. Another valuable feature to look for includes a tracking system where you can see the outstanding invoices for your business.

Seamless tax resolution experience for your small business

The National Small Business Association recently reported that many small business owners are highly frustrated by the weight of the administrative tasks of tax resolution. The time and money required to fulfill tax resolution obligations is significant. According to the study, actually completing the tax resolution was more of a burden for small business owners than paying the taxes. A CRM application that specializes in tax resolution can change the entire administrative tax resolution experience for CPAs across the globe.

In addition, the recent IRS budget cuts are decreasing the IRS's ability to "provide critical tax services to taxpayers," as quoted by IRS Commissioner John Koskinen. Software that produces a consistent tax resolution experience for small business owners year after year will be valuable as businesses feel the aftermath of the budget cuts.

A high quality CRM application automates your necessary tax resolution duties, gives you strategic foresight with tax analytics, and provides overall clarity and ease to the administrative process. The transparency of a CRM solution allows you to enhance your service offering and provide excellent client service to your existing and future customers.

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