ICAI has launched “Practice Management Software (PMS)” for practicing Chartered Accountants (CAs/Firms), to streamline and automate the workflows for better productivity and communication.
It is critical for a CA firm’s management to ensure that everyone is on the same page. You require all-in-one practise management software that will empower not only your company but also your employees and clients. Because of the ability to streamline procedures, it enables you to collaborate in a simple, effective, and streamlined manner at every stage of the accounting process. The right practise management software will provide you with a set of specialised tools that will allow you to effectively communicate with clients, track how you spend your time, and create the ideal customer experience. This will allow you to easily retain clients and expand your professional growth.
This PMS’s more than 15 integrated features enable users to create a connected client experience by having everything in one place. Some of which are explained in the following paragraphs. To register for free CA PMS, one need to visit the ICAI Website.
Task Management Module of CA PMS
A better way to take control of your tasks and streamline your processes is provided by the Task Management module of the CA PMS. Managing projects, subtasks, and deadlines is undoubtedly a laborious task; nevertheless, with the help of CA PMS, one may organise the workflow of a team, improve one’s decision-making, and accomplish more goals while maintaining delighted customers.
The Task Management Tool of CA Practice Management Software is the ideal solution for CA firms since it enables these businesses to organise duties in a transparent manner, making it the ideal tool for CA firms. This technology reduces difficulties with misunderstanding by ensuring that employees are given specific instructions from their employers on how they need to perform each assignment within particular timeframes. This tool also ensures that employees receive these instructions in a timely manner. The CA PMS also enables employers to view what tasks have been given to all of their staff, as well as the employees’ current level of progress on those tasks; this helps save time! In addition to this, it is helpful in streamlining subtasks so that work may be finished on time, efficiency can be enhanced, and accurate records can be kept.
Document Management Module of CA PMS
It is essential for every CA firm to implement paperless documentation with the most recent security and encryption protocols, track every incoming and outgoing document, and make this information readily available to clients with only a few clicks of the mouse. Make it possible for teams to have flexible and easy document transfer, as well as a single repository for client documents on a secure server.
The documentation management module of the accounting firm’s practise management software has the potential to significantly enhance the efficiency of the firm’s workflow. It reduces the need for paper by putting all documents and records on a secure web server, where they may be quickly accessed by authorised users. It offers the members of the team the ability to instantly build an electronic audit trail, which will ensure that papers remain accurate and in accordance with industry standards. Every aspect of the main processes is under the members of the team’s direct supervision. Accountants won’t have any trouble incorporating clearly defined workflows into their day-to-day work, which will make completing mundane procedures a breeze. It can do wonders for the efficiency of accounting and auditing organisations to put in place a document management system.
Account Management Module of CA PMS
The software for CA firms contains a module called Account Management that handles and tracks every financial activity for many clients. Through the use of an integrated payment gateway, you can generate automated financial reports and collect online payments against invoices in a number of different currencies. This application performs exceptionally well and provides astonishingly straightforward and quick solutions.
The accounting services offered by CA firms have a considerable impact on the whole client experience, as well as on the quality of their relationships and their level of consistency and loyalty. The primary goal of the account management tool included in CA PMS is to define and cultivate mutually beneficial relationships between a CA firm and its clients. A CA firm can manage all of its clients’ information on a single dashboard using the PMS account management module. This includes seeing specific details, such as ongoing projects or deals approved in the history of accounts. It makes it easier for CA firms to monitor the development of projects by allowing them to check the status of such projects and encouraging teams to finish their work as quickly as possible. It proactively notifies customers of any changes to their account status by SMS and email.
Client Management Module of CA PMS
Using the Client Management module of the software for CA firms, you will be able to manage real-time client activities at your fingertips. CA firms are able to manage all of their clients’ activities from mobile devices as well. Utilizing this module makes it very simple to create client groups and client-specific login credentials, making it possible to easily add or remove information pertaining to clients. A CA firm is also able to do client searches using a wide variety of filtering options and generate group-wise reports, invoices, and receipts.
The CA Practice Management Software includes a Client Management Module that is an essential component. It maintains and centralises all of the information about a CA firm’s clients, making it simple to monitor each client’s progress from the beginning to the end of the process. It is also possible to refer to it as the most valuable asset of the accounting firm, as it assists in maintaining true ties with clients. It is helpful in rationally arranging and keeping all client interactions in a single area that can be customised, which enables a CA firm to record, access, and monitor every detail of client activity in the office.
Employee Management Module of CA PMS
The employee management module of the CA PMS makes it possible to maintain a connection with staff members at all times and from any location. This module assists employees in remaining motivated by centralising the management of their database, documents, roles and hierarchies, time sheets, work reports, and communications in a single location. Additionally, this module makes it easier to track employee login IP addresses and maintain a secure environment free from fraud and misunderstandings.
Employees are the backbone of any company, and having an effective personnel management tool may make all the difference for a CA firm. An employee management module is more than simply a place to store information connected to work; an intelligent module maintains the organisation of a CA firm at all times by making all employee data readily available at the firm’s fingertips. It makes it possible for a CA firm to assume control over better administration, easier means of communicating with employees, and swifter decision-making procedures.
