Unlock the potential of your client’s financial data with post accounting software.
This powerful tool goes beyond keeping track of numbers and helps improve consistency and capacity with many post-bookkeeping tasks. It can transform your data into strategic insights, offering a clear route to financial growth and client satisfaction while freeing up valuable resources.
The best part? You don’t need to sink time into finding new revenue streams.
The best post accounting software automatically uncovers these opportunities. All you need to do is act.
What is Post Accounting Software?
Post accounting (also known as post-bookkeeping or compliance workflows) focuses on using financial data to streamline repetitive tasks and analyse data more intelligently to guide future actions.
The software goes beyond simply recording transactions and utilises the data for strategic decision-making, forecasting, and identifying new business opportunities for accounting firms.
Seamlessly integrating with your clients’ bookkeeping software, the best post accounting platform gives you a comprehensive overview of your client’s financial health, and using technology like AI, it can identify untapped opportunities for revenue growth.
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3 Ways for Generating New Revenue Streams with a Post Accounting Platform
Accounting firm revenue streams are changing. Here’s how you can leverage your data and new technology to generate new revenue streams for profitable growth.
1. Monetising Your Data Insights
Is your firm’s financial data living in data silos?
You’re missing out on a lucrative opportunity to grow your revenue and unlock a hard-to-beat competitive advantage.
A post accounting platform like Silverfin connects all your fragmented data in the cloud and gives you a single source of truth.
Using the Insights module, the software transforms your complex financial data into actionable advisory insights. This enables a deep analysis of your client or portfolio data, identifying trends, benchmarking performance, and generating alerts for key financial benchmarks or risks.
The result?
Your firm can offer value-added services, deepen client relationships, and open new revenue streams through data-driven decision-making.
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2. Spot Opportunities with Artificial Intelligence
A post accounting platform with AI functionality can do three things for your firm:
- Automate routine tasks
- Offer predictive analytics
- Create better client conversations
It continuously analyses your client files to find things you might have missed, like unusual balances, missing transactions, and outliers.
It saves you hours of manual work and uncovers new areas for growth.
For example, Silverfin Assistant scrutinises financial data to spot opportunities in your data to help you offer proactive advice to your clients.
You can use the AI tool to answer questions like whether it’s worth converting from a sole trader to a limited company.
This approach increases your firm’s efficiency and helps you automatically find new revenue channels within your existing client base.
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3. Free Up Capacity for Advisory Services
How much time does your firm spend on manual data entry? What about fixing human errors?
Post accounting software can automate those tasks, streamline compliance workflows, and free up your firm’s capacity.
- Your managers will spend less time double-checking and fixing junior’s mistakes.
- You won’t need to duplicate work.
- You’ll always have the most up-to-date financial information for your working papers.
- You’ll have one standardised way of working across your firm, speeding up efficiency.
By automating your core compliance work, you give time back to your accountants to focus on strategic, value-added services such as advisory services.
Moreover, your team doesn’t need to consistently check financial data to find these opportunities for new revenue streams.
Silverfin helps you set up automated alerts when a client hits a key benchmark or specific risk factors. Once a threshold is met, your team receives a notification, and you can take action at the right time to make a difference.
You won’t miss key events or opportunities to share advice or provide new services.
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How Silverfin Can Help
In an industry where accountancy fee pressure makes it feel like a challenge to maintain or increase profit margins in the face of client demands for lower prices, Silverfin offers a solution.
By implementing post accounting software, you can:
- Streamline the preparation of your working papers
- Offer pro-active financial advice
All while automatically unlocking new revenue opportunities for your firm.
With its robust analytics, customisable reporting, and seamless integrations, Silverfin empowers accounting firms to view their financial data and act on it strategically.
By leveraging Silverfin’s platform, your firm can:
- Integrate with various data sources for a holistic financial view.
- Utilise advanced analytics to uncover revenue-generating insights.
- Automate reporting and compliance processes, freeing up resources for strategic initiatives.
- Gain a competitive edge your competitors can’t replicate.
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Leveraging Post Accounting Software for Strategic Growth
Post accounting software does more than analyse your financial data. It transforms it into actionable insights, frees up capacity to help your firm create new revenue streams, deepens your client relationships, and helps your firm secure a competitive edge.
Take the first step towards making your data work for you.
Book a demo today and explore how our post accounting software can uncover new revenue streams for your firm.
Frequently Asked Questions
1. What is post accounting software, and how does it differ from traditional accounting systems? Post accounting software goes beyond traditional accounting software by using financial data for strategic decision-making, forecasting, and identifying new business opportunities, unlike traditional systems focused mainly on transaction recording.
2. How can post accounting software uncover new revenue streams for my firm?
New revenue streams are uncovered through deep analysis of financial data, identifying trends and opportunities, and freeing up accountant capacity for value-added advisory services.
3. How does automating compliance and routine tasks with post accounting software free up time for advisory services? Automating tasks frees up accountants to focus on high-value advisory services, as it reduces time spent on manual data entry and error correction, increasing efficiency and allowing for strategic client engagement.
4. Can post accounting software integrate with my existing financial systems, and what are the benefits of such integration? It absolutely should. Post accounting Integrations include a comprehensive overview of financial health through seamless data consolidation, enhancing strategic analysis capabilities and decision-making efficiency.
