The Silicon Review
Cloud accounting systems are changing the way businesses operate and manage their financial information. The automation inherent in cloud accounting systems speeds up routine tasks, and helps your employees cover more ground and process more data than ever before. Automating key processes can prevent duplication and other human errors, which saves time, effort and money in getting your financial data up-to-date and accurate. Cloud accounting systems are also constantly updated automatically installed software improvements and updates which happen behind the scenes, with little to no intervention required from you. Cloud accounting systems have the ability to scale and flex to meet the demands and requirements of a growing business. Using a cloud accounting system is a simple way to increase your efficiency and help your employees to make the best use of their time.
Silverfin is one such connected accounting cloud platform created by experienced accountants and software experts. The company aims at making accountancy firms more successful. It improves the efficiency, competitiveness, and profitability of compliance services, and powers the development and delivery of advisory services. It takes financial data directly from client systems and hosts it securely in a single cloud Structured Data Hub. Then templates standardize, and automate, accounting workflows and use the data hub to make compliance easy, fast, and accurate. Silverfin has made day-to-day business better and given businesses the data, tools, and time, they need to deliver the advisory services and insights their clients really value.
Leveraging Integrated Cloud Accounting Services and Solutions
Data consolidation: Silverfin integrates with all leading financial and management data systems. So if your client’s data changes in any of their preferred applications, their Silverfin file will update automatically. Critical financial information will always be fresh and accurate, with no chance of anything slipping through the cracks. By providing a panoramic view of all your client’s data from bookkeeping and other sources, the firm lets you identify trends, extract vital insights, and benchmark their performance against their competitors. Financial data is the lifeblood of a company and must be protected at all costs. Silverfin’s cloud platform is secure, cost-effective, and accessible from any device, anytime, anywhere.
Data standardization: Silverfin consolidates user data and stores it in one central, cloud-based location, which means your clients can keep working the same way they always have and you can get to work immediately too. No matter where your data comes from and how it’s presented in the original source, the firm stores everything in a standard and uniform chart of accounts. With its templates for common accounting workflows and processes, and the ability to develop your own on the platform, you can use your data to move quickly and accurately through your work.
Real-time integrations: Silverfin integrates with Sage, SAP, Xero, Intuit, OpenID, Microsoft Dynamics, and more. Data feeds into its system automatically so no more importing, exporting or time-consuming manual workarounds. It can integrate with other sources of data to give you the complete view of all aspects of your clients’ businesses that you need. You can use Silverfin to share data with other reporting or management systems your client uses to run their business.
Client monitoring: With all your client’s files stored in one single location, in a standard format, you can compare different companies against one another and build up a picture of their industries. These insights will help you spot emerging trends, opportunities or challenges on the horizon. Silverfin allows you to view all your client files in one place, and prioritize them according to key search criteria such as financial performance and workflow status. If you’re preparing for year-end closing, for example, you can see each company’s preparation status instantly. An integrated communications feature ensures no stakeholder is ever left out of the loop. Both you and your client can communicate directly through their file to verify status updates and gain crucial information to settle any queries.
The Leader Upfront
Lisa Miles-Heal is the Chief Executive Officer of Silverfin. She is an experienced leader of SaaS and technology companies with a love of expanding them globally. As a proud Kiwi with over 15 years of international experience, she has honed her passion for crafting strategy, managing growth and implementing change in progressive technology-led environments. Focused on the software industry, Lisa has helped businesses from Professional Services to global SaaS e.g. Peace Software, Vodafone, Unleashed Software, Fresho, refine their GTM, scale their team and significantly grow. She is a pragmatic, transparent and authentic senior people and product leader who still loves engaging with customers.