The Digital Accountancy show is a fantastic opportunity to learn about best-in-class industry-specific apps. Whether your firm has already begun building your industry-specific app-stacks or if you are just beginning this process, the show is a great chance to meet the apps who can strengthen your app advisory offering.
What is an industry-specific app stack?
An industry-specific app stack is a combination of software products which, together, streamline processes and improve efficiencies for businesses operating within a specific industry. These app-stacks often centre around an accounting platform like Xero or Quickbooks.
Cloud Accountancy Ltd founder, Jeremey Hague sees that “the correct tech stack can become a long-term and scalable solution which reduces manual processes, improving efficiencies within.”
Why should my firm build an industry-specific app stack?
App advisory is fast becoming the new tool on the accountant’s competitive battlefield. Firms that provide an industry-specific app advisory service can show their clients that they understand both their sector and their business. Knowledge about the latest technology within a sector allows firms to become leaders within the industries they serve. As a service, industry-specific app advisory evidences your firm’s investment in improving the day-to-day running of your client’s businesses. This investment in time and resource will reap the reward for both your firm and your client’s business.
How can industry-specific app advisory help my clients to win?
Each sector faces a unique set of challenges. In the past, non-specific apps have been contorted to suit a business’s needs. Fortunately, industry-specific apps now deliver tailored solutions to businesses. For example, Re-Leased is an app which transforms property management for large commercial and residential property portfolios.
Industry-specific apps are focused on one sector’s needs can help you to deliver a solution which will transform the way your clients interact with their customers and manage their business. The targeted efficiency gains delivered by industry-specific apps can enable your clients to become leaders in their industry or grow their business. With the right app stack, your firm can become the architect of your client’s success through the delivery of a long-term, high impact, solution.
Moreover, many industry-specific apps produce useful data which your firm can extract to better advise your client in real-time. This can strengthen the relationship between the client and the firm by adding value to your services.
Case Study: Xero +Re-Leased
Cloud Accounting Ltd implemented Re-Leased and Xero into their clients business. The two-way integration between Re-Leased and Xero provided opportunities to leverage both property and financial data to provide greater insight into business performance. Since then, the firm has extracted value from the data in Re-Leased to create the property and financial reporting for their client’s board at key points in the year. Moreover, the efficiency gains provided by Re-Leased and Xero has enabled the client’s portfolio to grow from a value of £10 million to £40 million and the director’s role is now “90% easier on a day to day basis” due to the automation built within the platform.
The Digital Accountancy Show is a unique opportunity to learn about a variety of industry-specific apps. To make the most of the event, be sure to identify the key sectors for your firm to focus on finding the right solutions for your clients.
Grace Thomson is Partnership Manager at Re-Leased Property Software. Grace assists accountants to advise their commercial property clients on the new era of property management to enable firms to become leaders in the real estate market and add value to their service offering.