Online50 Users, or users who are registered on the Online50 website can comment on the Newsletter
You can login here.
You can see the Newsletter Archive here
Added Value Accountancy Services
For many small businesses the traditional services of accountancy practitioners - audit, statutory accounts preparation and taxation - are seen as adding little value. The accountant that provides these services may find themselves under fee pressure and experience problems with write-offs and unrecoverables. However there are many ways that accountants can add real perceived value to the small businesses that they serve. Most accountancy firms bill the fees as a multiple of the hours worked without regard to the perceived vaue to their client.
At Online50 we provide an online platform that allows accountants and their clients to access the same accounting software in real time from different locations. This allows a very flexible arrangement for providing outsourced accounting services. Accountants who find different ways to work with their clients are finding less resistance to fees as they can match the service they provide to their client's perceived value.
In last months newsletter we mentioned a credit control service. This is an example of where an accountant can implement a process for the client, run that process using junior staff, and then at the end of the defined process hand on to an agreed third party. By simply sending out statements and reminder letters firms that are implementing this service for their clients are finding that they can recover the majority of a clients outstanding debts. This service is highly valued by clients, and is cheap for the accountant to provde as they do not need to use qualified staff.
Other services that we will highlight in future editions of the Newsletter will include Management Information and Payroll Compliance. To discuss how you as a practice can provide added value services, or how as a client your accountant can add value to your business, please call our account management team on 020 7536 7736.
Full Service Hosting
Traditionally the Online50 service has been used to provide a flexible platform for the delivery of accounting services. Because accountants and their clients can both access the same software and data from different locations a range of flexible accounting services become possible. (Link to Case Study). The Online50 service can provide a range of software and so can be used as a flexible platform for users that will benefit from using an on-demand, fully managed software delivery platform. Using the platform users can, if they choose, have access to a range of software allowing them to operate all of their business online.
We have users that run Microsoft Office (along with all of their office files); accounting software; payroll software; and CRM software all on the Online50 platform. We also have users that have their own industry specific software hosted, and where we host the accounting software as well they can integrate the packages. For example an industry specific package might create all of the sales invoices, which are then posted through into the accounts software (for example Sage 50).
All usage charges on the Online50 platform are on a per user per calendar month basis. This allows users to scale their operations as they require. Applications can be added or removed as required. Where we host more than one application for users they benefit from only having to pay one hosting fee for multiple applications. To find out how much to would cost to access different software packages please call our sales team on 0800 195 0835.
Functionality on Demand — Ambition Accounting
Users who have outgrown their existing accounts software are faced with an implementation project for the new system. Even where the user chooses to take a more capable product from the same software company (for example moving up from Sage 50 to Sage 200) there will be issues of recoding ledgers (for improved information) and data migration.
The most popular application on the Online50 service is Sage 50. For users who have outgrown Sage 50 and require software that can cope with a higher volume of transactions and can provide more functionality and support we currently have two choices. Sage 200 is available on the Online50 platform, but Sage do not offer monthly license terms for this product. Ambition Accounting is also available on the Online50 service and is available on monthly terms. Both packages can be run in house if necessary and so the user retains the flexibility to work online or in-house as their business requirements change.
For Online50 partner accountants that want to consider the differences between these software packages so that they can better advise their clients we have produced two documents that may help. The Ambition Accounting Partner Guide and the Ambition Accounting vs Sage 50 Feature Comparison are available as PDF documents in the Partner area of our Secure File eXchange. Partners may call their account manger on 020 7536 7736 or login with their partner account using this link to access the documents.
November 2008 Partner Events
Online50 Partners are reminded that our popular partner events are scheduled for Manchester in November. Partners who have not yet reserved their places should contact their account manager on 020 7536 7736 to ensure they are not disappointed. The Service Proposition Workshop on Wednesday 26th November has the most restricted number of places and these are being allocated on a first come first served basis. If you have not yet reserved your place please contact the Online50 team to avoid disappointment.
Service Proposition Workshop (Wednesday 26th November 2008 afternoon)
Accountants can add real value to their clients, but are not always able to communicate the value of the services they offer to their clients and prospective clients. The Service Proposition Workshop is an instructor lead interactive half day workshop designed to help accountants formulate the way they structure and present their services to clients. The tools and techniques covered can be applied to any service offering but the workshop focuses on the delivery of outsourced accountancy services that have an online delivery component. (i.e.: the typical services that are offered on the Online50 platform). Using the tools and techniques accountants will be able to identify additional service opportunities with current and prospective clients, and to confidently present the value of these to non-accountants. This workshop qualifies for CPD points as an instructor lead course.
Partner Briefing (Thursday 27th November 2008 morning)
This series of presentations from the Online50 team and selected Online50 partner accountants is a round-up of development to the platform and how it is being used. This will include a session on reporting techniques lead by one of our partners.
Software Features Comparison (Thursday 27th November 2008 afternoon)
This session will look at a number of real life scenarios for clients, and examine how their businesses are supported by software available on the Online50 platform. This will allow Online50 partners to see how software can be used in real-life scenarios to support their clients and identify the differences in the feature set.
Online50 - Meet the Team (Friday 28th November 2008 morning)
This session is primarily for those thinking about becoming an Online50 partner and the opportunities that this represents. If you have been considering Online50 and would like a chance to meet with the team and explore the opportunities that our partnership programme offers then please contact the sales desk on 0800 195 0835 to reserve a place.
