Small accounting firms who neglect succession planning are missing an opportunity to increase the value and marketability of their firm.
Firm Management Software: Why You Should Invest in this Technology
Stay ahead of the competition and make your clients and firm happier with firm management software from BQE.
When it comes to technology, it is THE great leveler. Today, small and startup firms can compete against large established firms since technology is inexpensive and removes the historical barriers. One of the best technology investments you can make is in firm management software. But you don’t want just any firm management software. The best software should offer easy integration and an all-in-one dashboard that includes the following:
As you know, good project management is essential to your firm’s operations. Without it, well, your projects are in danger of falling apart. When you invest in firm management software, you want one with powerful project management capabilities.
The right project management software helps you manage your team and accomplish projects collaboratively. You can use it to assign tasks (manually and automatically), allocate resources, and track project milestones across each phase of work.
The benefits of project management software include:
- saved time
- consistently reaching goals
- staying on budget
- achieving the best outcome for your clients
- improving profitability
Firm management software that includes project management lets your team view progress across tasks and projects, monitor and identify at-risk deadlines, and share status updates while centralizing relevant documents and communication.
If you aren’t managing your projects with the right firm management software, you are at risk of lost time, poor communication, errors, insufficient data analysis, and other serious pitfalls.
Time & Expense Tracking
Time tracking is an essential feature of firm management software because it helps streamline workflows for your accounting, HR, and IT team members. With time tracking, you can focus solely on your projects instead of tedious administrative tasks.
If you’re currently tracking time manually, then you know how much of a headache this can be. Rather than manually tracking and entering your time, your firm management software will come with user-friendly time tracking options built for the A/E and professional services industries that effortlessly capture every second spent on a project, including client calls and site visits. With a platform like BQE CORE, you spend only two minutes per day on time entry while gaining greater visibility into the hours spent on projects.
Time tracking also boosts accountability and organization across your firm’s projects. BQE CORE’s real-time time and expense dashboards track and display your project’s progress, offer transparency, foster teamwork and accountability, and help you spot at-risk deadlines across the team before something goes wrong.
If you’re handling your accounting process on multiple platforms, or still processing manually, you know how this can take hours, days, and even worst-case scenario, weeks, to get fully completed. To stay ahead of the competition and ensure your projects have a steady cash flow, you want firm management software, like BQE CORE, to include an integrated accounting system.
- Invoicing: Automatically generate invoices for all your clients resulting in improved cash flow and higher efficiency. A firm management software with an ePayments system allows your clients to pay instantly, reducing the need to record payments.
- Cloud Feed: Your software’s accounting features should seamlessly connect to your bank or credit card provider to download all transactions and help you code using artificial intelligence. This saves you hundreds of hours of data entry and eliminates typing errors permanently.
- Profit & Loss Reports: A good firm management software should include all key financial reports: profit & loss, balance sheet, trial balance and GL. Extend classes and cost pools to multiple organizations and comply with Cost Accounting.
This isn’t all. With firm management software that includes a powerful accounting feature, you can receive batch updates that will save you hours each week; scheduled reports; and custom invoice templates. Since accounting can take up a massive amount of time, why not use a technology that eliminates the manual work and errors all at the same time? This gives you a happier firm and more satisfied customers.
BQE CORE Firm Management Software
As mentioned before, firm management software, like BQE CORE, should include an all-in-one dashboard to eliminate the hassle of multiple platforms and trying to consistently integrate manual data.
An all-in-one dashboard means you have everything you need to manage your firm right at your fingertips- whether you’re at your computer or working remotely.
BQE CORE is designed by architects and engineers for the A/E and professional services industries, so we know what you’re struggling with and what you need in firm management software. BQE CORE’s features include a customizable all-in-one dashboard, project management, accounting, billing, time and expense tracking, human resources, and integrations.
When you use technology that makes firm management easy and saves you time and money, you’re always going to come out ahead. Contact us today to schedule a free demo and see how our firm management technology can be a game-changer for your team.