Silverfin vs. CCH & Iris: How Do They Compare?

7min Read

Need to make a decision between Silverfin, CCH and Iris for your accounting workflow? It all comes down to aligning your software choice with your firm’s specific needs.

Whether you’re moving away from traditional spreadsheets or seeking more dynamic, connected workflow software for accountants, understanding what Silverfin, CCH, and Iris bring to the table is key. 

The Best Accounting Workflow Software: A Comparison Guide

To help you find the best workflow software for accountants, we’re comparing the features, benefits, and downsides of three of the biggest names in the industry.

Silverfin 

Silverfin is a cloud-first platform for accountants looking to connect and standardise data, best practice workflows and AI trained on data.

By integrating artificial intelligence and real-time data, Silverfin enables accounting firms to automate their workflows, produce accurate workpapers, and spend less time “number crunching” and more time as strategic advisors to clients.

Key Features

  • Cloud-First Solution: Access your client files anytime, anywhere.
  • Data Hub: Real-time, structured data. Eradicates the task of manually moving data and ensures your financial information is always up-to-date.
  • Workpapers: Streamline the preparation and management of your working papers.
  • Automation: AI mapping, automatic reconciliations, one-click roll-forward, iXBRL tagging, and live-linked data between all your workflows. 
  • Accounts Production: Simplify preparation, review and filing of statutory accounts.
  • Corporation Tax: Complete your client tax calculations and CT600 submissions in a fraction of the time.
  • Management Accounts: Powerful, flexible reporting engine to help firms improve their services and advice.
  • Insights: Use firm-wide data analytics to scale up your advisory services.
  • Silverfin Assistant: This AI-powered tool gives you data you can trust and insights you can monetise.

Benefits of Silverfin

  • Accountants workflow software is designed by cloud and UI experts – many of whom are former accountants, and it’s quick and easy to use.
  • Proven and trusted track record with the Big 4 and UK firms like Deloitte Ireland and Johnston Carmichael.
  • Customers report up to 50% time savings from year 2 onwards
  • It gives you more time for advisory services with clients, a competitive advantage that future-proofs your business.
  • End-to-end solution for both compliance workflow automation and analytics for advisory services. 
  • It reduces the risk of human errors and non-compliance.
  • There’s no software to install (open APIs), and maintenance with regular updates is included.
  • Pricing tiers are based on the number of client files, with unlimited ‘seats’ or users to aid seamless collaboration.
  • Flexibility to choose what modules you want and when to scale up.
  • Over two years of experience introducing AI into solutions to improve data accuracy and assistance in training junior staff.

Downsides of Silverfin

  • It may not be suitable for some specialist or niche client file types.
  • Standardised templates do not allow the same bespoke flexibility offered by Excel.
  • It does not include audit functionality.

CCH

CCH (Commerce Clearing House), a Wolters Kluwer business, provides software and information services for tax, accounting and audit workers. 

It offers a centralised accounting software database, helping you intelligently share information whenever you need it.

Key Features

  • CCH Central: A practice management software suite with a centralised on-premise database, which other CCH products can access.
  • CCH Open Integration: Connect to different bookkeeping platforms like Xero, Sage, QB, etc.
  • Errors and exception reporting: Flags inconsistent or incomplete information, updates data in real-time and prevents filing until errors are corrected.
  • Alerts: Set up alerts to enable advisory services.
  • Dynamic link: Handles the attachment of iXBRL accounts produced by CCH Accounts Production, or these can be imported from third-party accounting systems.

Benefits of CCH

  • It’s an integrated suite enabling reporting, accessing, and using tax, accounting and practice management information across the entire practice.
  • It imports data from different bookkeeping systems such as Twinfield (owned by Wolters K), Sage, Xero, Free Agent, Exact, QuickBooks and CCH Accounts Production.
  • Your review and collaboration process is all together in one place.
  • Supports different client types for large or small businesses, sole traders and partnerships, farms, LLPs & academies.

Downsides of CCH

  • It’s not cloud-native and struggles to deliver remote team access and real-time data or automation.
  • The data doesn’t always flow seamlessly across the suite, creating duplicated work or manually updating data.
  • Legacy desktop software requires costly ongoing maintenance. 
  • No built-in AI.
  • It uses an outdated UI, which slows down your ability to perform tasks efficiently.
  • Limited connectivity with other platforms, often requiring manual export (e.g. Xero) and import into CCH.
  • No integrations with other working paper tools other than their own.
  • No automated calculations. You need to do these in Excel before importing the data into CCH.
  • There are no templates for some sectors or customisable templates. 
  • Customisation of reports requires Wolters Kluwer specialists.
  • Insights are not possible without manual manipulation of data.
  • Pricing is at the high end of the market, which means it’s not suitable for mid or low-tier firms.

Iris 

Iris is the largest third-party online filer with the UK Government. It caters to the diverse needs of accountants in businesses of all sizes, embracing the philosophy that one size does not fit all.

Iris offers a range of software solutions designed to meet the specific requirements of any business strategy or operational need, ensuring flexibility and efficiency.

Key Features

  • Scalability: Only pay for what you need and add extras anytime. 
  • Cloud-based: Built using secure cloud-based SaaS technology, Iris Elements helps your team collaborate remotely.
  • Intelligent dashboard: Get a quick overview of the status of jobs, tasks, proposals, tax filings, and account preparations.
  • One client record: Work from a single source of truth and mitigate errors and duplication of client records.
  • Add-Ons: Iris Elements Tax, Iris Elements Accountants Production, and Managing Your Practice modules.

Benefits of Iris

  • Comprehensive accounting suite that is functionally rich.
  • It comes with automation features to help you get more done.
  • The platform integrates with your other systems to ensure efficiency.
  • Flexible, scalable products and services.
  • Suitable for start-ups, sole practitioners, or bookkeepers with simple clients, as well as medium-sized practices with more complex requirements.

Downsides of Iris

  • The accounting suite is made up of different components. Some tools don’t talk to each other, creating an inconsistent user experience.
  • Elements is very late to the cloud party, so the technology is not yet well-established.
  • Desktop components look dated and can be slow.
  • Accounting is a minor sector for the overall businessInnovation has been limited due to the resources required to keep the legacy on-premise product suite ticking over.
  • Legacy customers are being pushed to take the cloud option, even when feature parity with desktop equivalent isn’t there yet.
  • Customer service and reputation have suffered in recent years.
  • No working papers functionality. Customers have to buy additional third-party products like Myworkpapers.
  • Pricing is very high and on the rise.

Which Workflow Software for Accountants Should You Use? 

Choosing the right workflow software will depend on your firm’s specific needs.

If you’re looking to move away from Excel spreadsheets and data silos, it makes sense to go straight to the cloud and look into connected accounting options like Silverfin.

It addresses the critical pain points of modern accounting firms by moving you away from “walled gardens” and towards dynamic real-time data where information can flow freely between best-in-class solutions. Plus, with no per-user costs, your entire firm can use best practice workflows, enhancing both consistency and capacity benefits significantly.

Book your demo today to explore how Silverfin can transform your accounting workflow.

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