Use Case: Streamlining a Small Accounting Practice

Problem:

Accountants, bookkeepers and other financial professionals often interact with their business clients via email. This means that sensitive bank account, payroll and tax information sails through cyberspace totally unsecured. Using email as a document workflow system also lacks any organized tracking or searching mechanism. This can result in difficulties tracking down documents for specific clients that are required for time sensitive payroll and tax filings. The result is usually an inefficient process managing piles of documents that is more costly to the client and limits the amount of clients each CPA in a firm can serve per period. The net effect is poor customer services and a lost opportunity to generate more revenue for the firm by servicing a larger client base.

Solution:

With Praura an accountant can create a separate secure console for each of his clients. This allows him to post communications, alerts and reminders, store forms and deliver documents back to the client in a secure environment. Each client has a single location to go to in order to access tax and payroll documents. Clients can seamlessly upload documents that they need to deliver to their CPA. His console will serve as a corporate library for each tax period and will allow the CPA to add value by serving as an effective provider of corporate memory for the client.

CPA firms with a partner-associate structure can create tiered libraries for clients where each associate is linked back to a partner. The partner will have insight into the work being done by his or her associates while each associate will have the ability to create client specific consoles. Partners can send communication and guidance to associates and associates can prompt clients with specific instructions. The result is a totally transparent environment where accountants can collaborate with clients and partners to ensure a superior experience for their customers.

Benefit Breakdown:

· Secure two way transfer of documents between clients and accountants
· Creation of a secure virtual library for each client account
· More transparent environment for partners and associates
· The ability to manage multiple accounts while out of the office