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Practice Management 11

PM 11 helps you to see the bigger picture

How mobile is your Practice?

As the new millennium gets underway and a new breed of accountants are joining practices,  there is a new business model emerging. With the advancement of technology and the speed of innovation, your clients are looking for more business advice to remain competitive and at the cutting edge to provide higher levels of services and products to their clients. This has driven accounting practices to ‘lift the game’ and become hands-on and involved in their clients’ operations more intimately, changing their strategies, business processes and tools to enable this change.

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Utilising real practice insights

Having large amounts of data holds little value unless you can connect it, understand it, format it and make it accessible to every level of the business. Even if you can do all this, without the right systems in place it can be a timely and costly process. Practice Management 11 and Practice IQ combined with other integrated systems provides a full end to end solution to get real insights to ensure the success of your business.

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Know your client - your obligations and due diligence

The Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Acts extends obligations to those who work in financial businesses and will soon apply to accountants. You will need to have a process to identify suspicious transactions and customers and report them online to the relevant authorities. As part of our partnership with InfoTrack, we can provide a simple and easy way of meeting your obligations, reducing risk and providing an opportunity for delivering a competitive advantage to your firm.

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Growing your practice revenue

You can grow your practice revenue by either getting some more clients or selling more services to those clients you already have. Offering more services often means more systems and they are usually completely disconnected from each other.  For example, you might run your Tax and Accounting out of APS, but SMSF is run out of Class and Financial Planning out of Xplan.  Those systems aren’t connected; therefore, it is impossible to run reports across those systems to determine where you have cross-selling opportunities. The question, is there a way to connect all those systems?  You bet there is! It’s called Xeppo!

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Streamlining your cash flow

Running a practice puts a million things on your mind. Therefore, it is not a surprise that streamlining your cash flow gets attention only when something goes wrong.  A healthy cash flow goes a long way towards keeping your practice moving. The more streamlined your cash flow cycle, the more successful your practice will be. The good news is there are a few simple things you can start doing with Practice Management 11 today to keep on top of a streamlined cash flow.

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Efficient resource management

Effective job management is a key process for any accounting firm, and APS enables your team to track jobs within a turnaround schedule and budget. One of the priorities is managing capacity to meet demand, and we’re supporting you with new tools to make this easier. Build a schedule based on existing data, review your team’s capacity to meet targets, and make updates as things change. Effective planning means less stress, a happier team and better service.

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Flexibility to customise your own invoices and statements

You’ve asked for the ability to make your own changes to invoice and statement templates. We’re excited to provide you with a new tool that makes it quick and easy to apply these changes yourself - saving time, cost and hassle.

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