Look, we get it. Not every accountant out there is ready to ditch their trusted, proficiently built spreadsheets. In fact, 1 in 6 UK accountancy firms still recommend Excel for their clients to keep track of their bookkeeping.
Well, at least they were in 2019 – which is when research consultants at Censuswide carried out that survey. But we’re sure some firms still use Excel.
It might surprise you, but many of our clients do as well. And we don’t blame them. Excel is still a useful, versatile programme, and for many of them it’s the first tool they mastered – and the one their clients are familiar with.
Interestingly, they understand where Excel performs well for them, and keep using it to enhance support in specific, niche cases. Combining it with Silverfin, they’re leveraging the strengths of both tools. Smart, right?
Striking the right balance for your firm
Clients who want to make the most out of the winning combo usually do so by using Excel to support their core Silverfin records. This way, they can leverage the comprehensive benefits of Silverfin (such as standardised working papers, cloud access and automation) while still accommodating specific client needs with customised Excel schedules.data synchronisation.
Read more: Moving beyond Excel for working papers – an introduction
Answer to unique requirements
Silverfin is designed to handle 100% of client files, ensuring accuracy and compliance across the board. For clients with bespoke needs or specific workflows, Excel can be utilised to create custom schedules that complement the Silverfin core records.
This integration allows for extensive customisation without sacrificing the streamlined efficiencies provided by Silverfin.
Add-ons to client files
If a client prefers a particular format for their fixed asset register, complex and customised Excel sheets can easily be attached to the client file within Silverfin.
This approach maintains the integrity and accessibility of Silverfin while incorporating the use of Excel.
Excel in your workflow
Once you get started with Silverfin, Excel can still play a role in your life for bespoke calculations and custom schedules.
However, it’s worth considering whether these are genuinely necessary or remnants of past habits and inefficient processes. Silverfin’s robust features may render many of these Excel uses obsolete.
It’s all about the journey
Change is most effective when implemented gradually, step by step. So, we recommend starting with the most significant, simplest changes to see immediate gains. Evaluate how Silverfin performs for your firm and, as you experience its benefits, continue migrating more processes. Our per-file pricing model supports this gradual transition, ensuring you only pay for what you use.
One of our clients recently talked about this type of journey:
“WE LET SILVERFIN SOFTWARE HANDLE THE HEAVY LIFTING”
“From the beginning of our journey with Silverfin, we knew we wanted working papers and accounts production to be seamlessly integrated. Now, we’re continuing our journey to include corporation tax as well, all within one product. The idea is to duplicate less work by doing everything within the same system. It’s all nicely linked, and if we need to export information out of Silverfin, we can reimport it into QuickBooks easily.
There’s also another crucial aspect we wanted. I’m talking about the triggers enabled by the Silverfin Insights functionality. Although we haven’t started using them extensively yet, these triggers allow us to set metrics. For instance, if a client’s cash balance drops below a penny, it can trigger an alert, prompting us to offer additional services like cashflow management or advice. Similarly, if a director’s loan account is overdrawn, it can alert us to consider the risk and take necessary actions.
The prospect of all these functionalities prompted our step-by-step journey, as we wouldn’t have gotten this with Caseware. We aim to use Silverfin software to handle the heavy lifting, rather than hiring more people to do that work.” Martin Bugg, Partner at Larkin Gowen
Key functionality using Excel or Silverfin across key
Wrapping things up
Why the time for change is now.
Excel has served us all well over the years, but it’s time to embrace the enhancements available in other tools now. With client demands increasing, competition growing fiercer and the complexity of your business inflating over time, Excel simply can’t meet those needs and a complete reliance on it will damage client and employee satisfaction.
To power your long-term growth and drive success in the digital age, the time has come to embrace the benefits of cloud-based financial reporting and compliance software.
We are in this together
Change can be daunting. You might dread the learning curve, hesitate to alter your current workflow or maybe feel intimidated by new software with all its bells and whistles. But it doesn’t have to be that way!
With Silverfin, the process is streamlined and straightforward right from the start:
• Our platform is designed to be intuitive and user-friendly, ensuring that you can start using it effectively without the need for extensive customisation.
• Whether you’re a tech-savvy enthusiast or someone who prefers simplicity, Silverfin caters to your needs.
• With a plethora of pre-designed templates to choose from, you can effortlessly select the one that best suits your requirements.
Moreover, we’re here every step of the way to make sure you and your team get familiar with Silverfin at your own pace.
To do so, we’ve developed a specialised onboarding and change management methodology. It’s all about:
• guiding you through the transition,
• providing the right hands-on training,
• smoothing change through process mapping,
• and day-to-day personal support.
By guiding you at every step of the way, we’re sure your new software will be rolled out hassle-free and effectively. You’ll be up and running in no time, ready to reduce the strain of manual work, improve data accuracy, and give your firm the competitive edge needed in today’s market.
Our method works – we’ve used it with hundreds of firms just like yours. And they’re all avid Silverfin users by now. Of course, don’t just take our word for it.
Find out what our customers say
“Previously, we used Excel for our working papers. Every manager and preparer probably had their own way of doing things. With Silverfin, being highly standardised, getting our people comfortable with it and having them properly trained was key. Nonetheless, we immediately saw a significant improvement in consistency”. Mark Thurston, Director of Gascoynes
“We just knew that having everything flow in from the working papers in Silverfin would save us an incredible amount of time”. Henry Micks, Accounting Team Manager at Kinore
“We realised we were too reliant on paper-based processes, and worse, we had inconsistent working practices. There were even instances where work would be duplicated. This was a big no-no, so we needed to shape up our internal processes to take our business to the next level. That’s where Silverfin came in”. Lynne Walker, Vice-Chair and Head of Business Advisory at Johnston Carmichael
“Standardisation allows us to train our staff more efficiently and complete our working papers faster at month end. I also like the small optimisations Silverfin brings to the workflow, like pulling data live from the accounting system, eliminating the need for manual uploads or refreshes”. Luke Streeter, COO and co-founder of flinder
“I know if the data is in Silverfin, and all the screens light up and boxes get ticked automatically, I can trust it’s the right set of numbers. It makes us much more efficient”. Darren Austin, Director and co-founder of Synergee
