Inform Direct Returns To Accountex Summit Manchester
Company secretarial software specialist Inform Direct, based in Ipswich, is returning to exhibit at this year’s Accountex Summit Manchester, having achieved a major business milestone since it attended last Autumn.
The business has continued to see rapid growth in its user base with the result that the team has recently celebrated having 300,000 companies on its online platform.
It has also announced new software features to enhance its cosec offering, delivering even greater functionality for accountancy practices.
These incorporate: a number of powerful options to automate the filing of confirmation statements, including the ability to automatically email clients with details when a confirmation is due to be filed. Other features further support data integrity and easy reuse of information, with further customisation options enabling accountants to tailor their use of the software.
Over recent months, Inform Direct has been awarded the Platinum Trusted Service Award by Feefo, the ratings, reviews and customer analytics platform, for the fourth year running in recognition of its outstanding commitment to customer service.
Inform Direct CEO Henry Catchpole said: “Accountex Summit Manchester provides a perfect opportunity for us to meet new accountants and catch up with our existing customers too.
“The team is looking forward to demonstrating how our company secretarial software can help accountancy practices whatever the size, enhancing what they can offer to clients, delivering greater efficiency and saving time that can be spent on developing the business. We are also keen to chat to current users to obtain valuable feedback which will inform our next phase of product development.”
Manchester Buckles Up for Planned Invasion by Accountancy Professionals
Software and service suppliers will gather en masse at the iconic Manchester Central on Tuesday, September 19th, and for a very good reason. The building is going to be absolutely buzzing with over two thousand accountancy and finance professionals checking out the latest industry trends, tools and technologies at the Accountex Summit Manchester. Now at its fifth edition, the event is becoming a bit of a staple in its category, with visitors pouring in not only from the rainy city, but also Newcastle, Leeds, Sheffield, Birmingham, and Liverpool.
Alongside plenty of networking, attendees will of course be looking to learn about technological innovation in their field and how it might help the profession. The educational side of the summit is varied and needs to be factored in. Accredited by the Continuing Professional Development (CPD) Certification Service, it features no less than 32 sessions across four different theatres. There will be much to pick and choose from, as well as an incentive to do so in the form of 8 CPD points for those who participate.
Luckily, a lot of the seminars are highly interesting and on point. The UK's tax, payments and customs authority, for example, will update visitors on the current transformation and digitalisation of the tax system - with the end purpose of “easier and simpler services for accountants and customers”. Mental Health UK is set to present what impact stress and burnout can have on individuals in the workplace and how organizations can provide psychological stability to employees during turbulent times. And, of course, top present-day topics such as AI, ChatGPT, and automation, will be looked into closely from multiple perspectives.
Many of the companies exhibiting at the Accountex Summit in Manchester are poised to present cutting-edge technological solutions that address a multitude of problems. Some are traveling from the continent for a chance to make an impact on the UK market. “Technology continues to revolutionize the finance and accounting industry, and we are part of the revolution. Businesses in the UK are some of the most advanced, and used to having useful but tedious tasks automated. That’s why it was an easy decision to set up a booth at the event. We’ll be presenting our award-winning Optical Character Recognition technology, with the best recognition rate in Europe”, said Martijn Beens, a representative of Dutch software company Klippa.
With more than a hundred businesses ‘fighting’ for attention at the summit, organizers felt confident to put forth that their event is a one-stop shop for those interested to sample all the accountancy software available out there.
Klippa will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand B10.
You can register for a free ticket here.
Introducing Qurk: Linking Xero and Cin7 in a dynamic reporting dashboard for easy advisory
Kounteq, a leading UK advisory firm, is launching the founder user group of its newly developed Qurk app, for accountants at Accountex Summit Manchester.
Qurk is designed to seamlessly integrate clients’ Xero and Cin7 data to build dynamic reporting dashboards in minutes.
With over a decade and a half of experience in building complex custom reports for SMEs, Mohamedali Walji, CEO of Qurk and a former accountant, understands the complexities of managing scattered data across multiple software platforms. Qurk solves the problem of manually updated spreadsheets, and vital information hosted in different places. He states, "With Qurk, we've redefined the reporting process, saving valuable hours each month, so time can be spent on advisory not on compiling data. It’s a huge opportunity for firms to add value to clients, without spending unnecessary time putting KPIs and reports together."
Qurk allows you to:
Quickly see discrepancies with drill-down dashboards and visual KPIs
Easily consolidate data for multi-entity clients with multiple apps
Have a single, clear and accurate view of your customers' data sources in one place
Simplify managing and collaborating with your clients
Maintain data integrity with automatic validation across apps without manual updates
Mark Holiday, Finance Director at I & JL Brown, shared his excitement about Qurk’s reporting platform, stating, "What you've got here is something really powerful - because it's visual."
By Mohamedali Walji
Kounteq Ltd powering QURK will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand J12.
You can register for a free ticket here.
Hybrid Outsourcing: The Modern Accountant's Approach Over Traditional Outsourcing
In today’s globalised business landscape, outsourcing has emerged as a strategic practice to achieve various organisational goals, including cost reduction, efficiency, and access to specialised skills. Traditional outsourcing models usually involve assigning particular tasks or roles to third-party vendors, often based in countries with lower operational costs. However, the drawbacks of traditional outsourcing—like poor communication, cultural barriers, and a lack of control—have led to the development of a new, innovative model: Hybrid Outsourcing.
What is Hybrid Outsourcing?
Hybrid Outsourcing is an evolved form of the conventional outsourcing model, designed to provide a more balanced and effective solution. It bridges the gap between front office tasks, which are client-facing and strategic, and back-office tasks, which are primarily operational. The model offers a dual-layer of support by integrating expertise from two different geographical locations, typically combining a local consultant with a team based overseas.
The Importance of Quality Relationships
The foundation of any successful outsourcing venture lies in the quality of the relationships established. With Hybrid Outsourcing, clients are not only given access to a skilled team but are also assigned dedicated experts to ensure seamless communication and task execution. When you go with Hybrid Outsourcing model, you can get both a local consultant and an accountant familiar with your specific needs. These relationships are vital for building trust, clarifying expectations, and providing consistent support.
A UK Front Office and an Indian Back Office:
With Doshi Outsourcing’s Hybrid Outsourcing model UK-based consultant pairs with an Indian back office. The UK front office usually focuses on client relationships, business strategy, and compliance, offering local expertise and quick access. On the other hand, the Indian back office provides operational support such as data processing, customer service and technical tasks. This is where the inherent value of experience comes into play—the team is knowledgeable about the facts of running both offices efficiently.
Amplifying Support with a UK-based Accountant
Adding another layer to this robust structure is the introduction of a UK-based Accountant who has previously held a senior role in an Indian back office. This individual serves as a valuable intermediary, possessing complex understanding of both cultures and operational methods. UK accountant amplifies the existing support structure, making it vital for the client. Their comprehensive operational knowledge ensures that the client is fully supported, not only in strategy but also in day-to-day back-office operations.
Ensuring Longevity and Success
Hybrid Outsourcing offers a dynamic, scalable solution, giving you the right relationships at the right time. From day one, you're not just a client but a partner, supported by a multi-layered team that understands your needs and can adapt to your business landscape. It's not just about cutting costs or improving efficiency—it’s about creating a long-lasting, quality relationship that benefits all parties involved.
Hybrid Outsourcing offers an integrated, tailor-made service that combines the best of both worlds, ensuring clients are fully supported from day one and for the entire relationship.
By Dhruv Doshi
Doshi Outsourcing will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand J16.
You can register for a free ticket here.
Penfold Platform Launches to Transform the Working Lives of Accountants
Digital pensions provider Penfold announces the launch of its revolutionary new Penfold Platform for accountants, as part of a strategic shift towards better serving this key group of users.
Built specifically for accountants, the Penfold Platform will significantly reduce the time required for pension processing, making their working lives easier and more streamlined.
The Penfold Platform offers a distinct and game-changing approach to pension administration. In contrast to the archaic and inefficient offerings prevalent in the industry, it leverages technology to significantly simplify the entire process.
The Platform's ease of use provides an edge over competing legacy pension providers, freeing accountants from the burden of outdated technology and poor customer support.
Accountants can now focus on the big picture rather than admin tasks, through smart and intuitive technology such as ‘drag and drop’ bulk uploading and smart processing across multiple file types. Accountants will no longer have to download, reformat, upload, and sort each individual file across each client, saving them from unnecessary stress and hassle.
Coupled with dedicated account managers on-hand to quickly solve any problems for both accountants and their clients, the Penfold Platform is poised to transform the way pension contributions are managed and set a new industry benchmark.
"The launch of the Penfold Platform signals a new era of simplified and efficient pension management," said Pete Hykin, co-founder of Penfold. "Our aim is to redefine the pensions landscape by providing accountants with an exceptional, time-saving solution that is free of charge."
As the platform continues to evolve and develop the ways in which it makes accountants' lives easier, the prime focus remains on delivering a platform that is intuitive, cost-effective and ultimately, allows accountants to make the most of their time and resources.
Building on our success in the direct-to-consumer and workplace pensions market, Penfold is committed to offering an unparalleled, modern, and intuitive service to accountants for the seamless management of their clients' pension contributions, while still delivering unrivalled value to their employer clients and employees.
For more information and advice on pensions, visit https://getpenfold.com.
By Frankie Dewar
Penfold will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand C12.
You can register for a free ticket here.
The Benefits of Cloud Payroll Software for Accounting Professionals
As the accounting industry continues to evolve, embracing technological advancements has become crucial for staying ahead. One such innovation that has transformed the accounting landscape is cloud payroll software. Gone are the days of tedious manual calculations and complicated spreadsheets. Today, accounting professionals can streamline their payroll processes and unlock a world of benefits through cloud-based solutions like FreshPay.
In this blog post, we will explore the advantages of cloud payroll software for accounting professionals, demonstrating how this modern tool can revolutionise payroll management and boost efficiency.
Enhanced accessibility and mobility
Traditional payroll systems tied to on-premise servers limited accessibility and flexibility. With cloud payroll software, accounting professionals can access payroll data securely from any device with an internet connection. Whether working remotely, on-site with clients, or during business trips, cloud-based payroll empowers professionals with real-time access to data, ensuring timely and accurate payroll processing.
Data security and compliance
Concerns about data security are paramount for accounting professionals. FreshPay employs robust security measures, such as encryption ensuring that sensitive payroll information remains protected. Additionally, cloud payroll software automates compliance with ever-changing tax regulations, reducing the risk of errors and penalties.
Seamless integration
Accounting professionals juggle multiple software tools and systems daily. Cloud payroll software like FreshPay is designed for seamless integration with various accounting applications, enabling efficient data sharing and eliminating the need for manual data entry. This integration streamlines workflows, saving time and reducing the risk of data inconsistencies.
Automated payroll processing
Gone are the days of manual payroll calculations that consume valuable time and energy. Cloud payroll software automates essential payroll tasks, such as calculating wages, deductions, and taxes, generating payslips, and facilitating direct deposits. The result is a faster and more accurate payroll process, freeing up accounting professionals to focus on more strategic aspects of their work.
Employee self-service
Empower your clients' employees with self-service access to their payroll information through FreshPay's employee portal. Staff can view and download payslips reducing HR administrative workload and fostering a transparent and engaged workforce.
Automatic Director payroll processing
Setup a Director payroll – enter monthly pay for the whole year – click to submit automatically – each month will automatically submit on each payday with no user interference required.
Real-Time reporting and analytics
FreshPay's cloud-based platform provides accounting professionals with real-time insights into payroll data..
Scalability and cost-effectiveness
Cloud payroll software offers scalability to meet the growing needs of your clients' businesses. As their workforce expands, FreshPay can accommodate the increased demands without the need for hardware upgrades or additional IT infrastructure. This scalability translates to cost-effectiveness, as accounting professionals only pay for the resources they utilise.
Register for your free FreshPay trial here.
By FreshPay
FreshPay will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand A13.
You can register for a free ticket here.
Paranimo: “we wouldn’t be where we are today without Swoop”
Swoop’s investor matching helped tech startup Paranimo get to market
For a technology company, taking a product from the idea stage to market can be a long, difficult journey. This can make finding VCs willing to invest challenging, but with the right help, all things are possible.
Matthew Vamplew is Founder at Paranimo, a platform which enables HR and wellbeing companies to increase revenue and improve the mental health of their customers, with a white label therapy platform they can use to match people to the right counsellor. The company has already won £150,000 in funding from Innovate UK, and Vamplew says the funding proved to be essential to provide traction on the journey towards positive cash flow for the business:
“To go from an idea to testing, to a prototype to an MVP to a launch… for us that was too expensive unless we got help. Kerry and Swoop helped us to take that journey and introduced us to the investors we needed to develop our business.”
Vamplew was introduced to Kerry Dwyer, Account Manager at Swoop. In an echo of how Paranimo works, Swoop matched the company with their community of VCs and Angel investors. Vamplew says that winning £150k of Innovate UK grants proved to be vital in securing further investment:
“Winning that funding gave our business a definite seal of approval that helped us with investors. Kerry matched us to Worth Capital, a micro VC that opened the door to us raising a further £150k.”
With the current funding in place, Paranimo has been able to prove that there is a market for their product. Over time, the company has had to refine and pivot on their model and is now in a place where there is a clear route forward towards profitability.
Vamplew says:
“Thanks to Kerry and Swoop, we have been able to buy enough time to test a business model that initially didn’t work. We were then able to make the pivot and get customers and are in the process of going back to the VCs for some top up cash.”
Vamplew also credits Swoop for improving accessibility to funding by raising awareness of the opportunities for SMEs and startups, particularly in the technology space. By knowing the market, Swoop was able to make a number of introductions for Paranimo until the right investors were found. Vamplew says:
“My experience with Kerry and Swoop has been nothing but positive. We wouldn’t have applied for what we got if Kerry hadn’t told us about it and we wouldn’t have secured our capital if we hadn’t worked with Swoop.”
By Swoop
Swoop will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand D6.
You can register for a free ticket here.
A New Perspective on Auto-enrolment for Accountants
Auto-enrolment in pensions can be both a boon and a challenge for accountants. On one hand, it offers an additional revenue stream, but the nuances in tax compliance, varied file formats, and often frustrating customer service can make it a daunting task.
Why Pensions Should Matter Again to Accountants
1. Enhancing Client Relationships: Accountants thrive on adding value to their clients. By assisting clients in understanding and reducing pension-related fees, they can solidify long-term relationships. Many pension providers have a complex fee structure. Modern workplace pension providers should prioritise transparency, charging employers nothing for their workplace pension.
2. Accessible Customer Service: The last thing an accountant needs during payroll is being put on hold or waiting weeks for an email response. The best workplace pension providers should stand out in this aspect. Look for providers that have an excellent rating on Trustpilot but also offer a dedicated account manager for immediate support.
3. Modern, User-Friendly Automation: The tech world has evolved past Excel sheets. Pension providers should offer a platform which is intuitive and efficient. Data presentation should be clear to ensure accuracy in administering pension records and simplify data input by allowing users to drag and drop various file types without the need for reformatting.
4. Engaging Retirement Planning: The perception of pensions is often negative due to complicated annual statements and the realisation for many that they are not saving enough for retirement. Best-in-class pension providers offer an app which gives users instant updates on their savings and can project their retirement lifestyles. This interactive approach ensures people are more proactive about their retirement planning.
Conclusion
While managing pension contributions can seem tedious, with the right provider, the process can be smooth and beneficial. Accountants have the opportunity to strengthen client relationships by suggesting cost-effective pension providers.
If you're wary of pensions, Penfold aims to reignite that spark. Explore Penfold and our pension processing platform to see the difference for yourself.
By Frankie Dewar
Penfold will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand C12.
You can register for a free ticket here.
Interbacs Unveils InterPass: A Robust KYC Identity Verification Solution
Interbacs, a prominent figure in the realm of financial technology, is proud to announce the launch of its latest offering, InterPass. This powerful and sophisticated identity verification tool is designed to assist businesses in fulfilling their KYC (Know Your Customer) obligations with utmost precision and efficiency.
In a digital landscape where identity verification plays a pivotal role in building trust and mitigating risks, InterPass emerges as a beacon of assurance for enterprises of all sizes. It empowers businesses to verify the authenticity of their customers' identities with a level of confidence that stands as a testament to Interbacs' commitment to excellence.
InterPass represents a fundamental shift in how businesses approach KYC compliance. Gone are the days of manual document verification and tedious paperwork. InterPass streamlines and automates the KYC process, providing businesses with a seamless and user-friendly interface to conduct identity checks. Its capabilities not only enhance regulatory compliance but also reduce indemnity claims, enabling businesses to focus on core objectives.
At its core, InterPass is more than just a KYC tool; it is a solution to the underlying challenge of customer churn. By ensuring the accuracy and security of customer identities, businesses can cultivate lasting trust and loyalty. InterPass safeguards both the business and its customers, fostering an environment where long-term relationships can flourish.
Interbacs' CEO, Edward Taylor, remarked, "We recognize the critical role KYC plays in today's business landscape. InterPass is our response to the evolving needs of businesses seeking to protect their revenue while enhancing their customers experience."
Interbacs will be showcasing InterPass at Accountex Manchester on September 19th. Interested parties are invited to visit Interbacs' exhibition booth "H8" to experience InterPass firsthand and engage with our team.
You can register for a free ticket here.
Breaking barriers: how Swoop empowered Easology to grow their digital accessibility business
There is a huge market for making technology more accessible. Here’s how Swoop connected a solution provider to the funding they needed
Technology has opened opportunities for businesses and institutions to interact with customers digitally. But what about customers who find using technology more of a barrier than a gateway?
In a digital-first world, accessibility is a real problem.
Peter Ashall, CEO and Founder of Easology, says that his company is working hard to solve the problem:
“We started by looking for ways to help profoundly blind people interact with tablets, which is itself a challenge. We are having to use these kinds of devices not just for social activities but also for things like booking a doctor’s appointment, applying for a job or doing a bank transaction. The industry really is much more focused on introducing the next great camera, which is great, but there is this particular problem, which needs solving.”
Peter’s team quickly realised the broader potential to assist individuals facing challenges due to ageing, limited dexterity, or a preference for simpler interfaces. With early support from Samsung, Peter entered a mobile innovation competition hosted by BT, gaining recognition and momentum. This initial success prompted them to seek funding to further develop and scale their product.
Peter approached Swoop to help him raise equity funding for Easology.
Kerry Dwyer, Senior Equity Manager at Swoop connected the startup with angel investors who shared the business’s vision and recognised its social impact, making it an attractive investment opportunity.
Kerry was also able to offer valuable feedback on how to pitch the business optimally, helping Easology refine their messaging and improve their presentation to potential investors
Peter says:
“The interaction with Swoop and Kerry in particular was really good. Kerry is not a pushover, we needed a very constructive dialogue rather than somebody rolling over and saying, Yes, we’ll do everything for you. Kerry really gave lots of tough, clear insights.”
The company raised £350,000 in total, with Swooping helping him to close this round through a number of angel investors. Peter says that Swoop really delivered for him:
“I have no regrets partnering with Swoop. The challenge is that there are so many startups out there who are desperate for money, VCs are having to sift through those who are actually worth investing in. Kerry and the Swoop team did a good job in testing the waters, making the right connections and helping us tell our story in a way that would see us raise the capital we needed.”
Peter Ashall says that his experience has demonstrated the important role Swoop played in helping his startup secure funding and accelerate its growth:
“If you have a business that you want to take to market and a product which meets a real need, that’s what drives you. I’m looking forward to the next steps, the next raise and doing some more work with Swoop as well.”
By Swoop
Swoop will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand D6.
You can register for a free ticket here.