Senta is supporting accountants and bookkeepers to step up and take on the advisor role with their clients via a new feature - available to all Senta users today.
The new advisory feature integrates with Quickbooks and Xero to enable accountants to proactively monitor end-users’ financial performance. Accountants are kept notified of changes to key metrics that are going to impact on businesses – enabling them to take the appropriate action and give relevant advice.
James Kilford CEO comments
“We know how hard accountants work at keeping on top of compliance work. But during the pandemic we know lots of clients have turned to their accountants for advice and guidance. The Senta advisory feature will help accountants build the advisory relationship — and differentiate themselves from their competitors.”
The development of the Senta feature is also a timely response to the demands of a profession. The recent Senta industry survey highlighted that accountants are looking to diversify their service offering in response to challenges their clients are facing.
Cheryl Sharp, founder of Pink Pig Financials, is one such accountant who is stepping up into the advisor role for their clients.
“Until a year ago we were just compliance, but we’ve been working to make advisory services more of a focus. Clients are rarely proactively looking for value-add work, but with the right conversations and the processes we have in place, we can begin to add those advisory services when they need them.”
Currently, the feature draws in quick and current ratios, plus info around turnover, profits, debtor days and bank balances. With this information, accountants are able to provide useful insight and guidance to their clients, strengthening their role as trusted advisors.
Ian Phillips, Head of Partner Sales, Xero, comments: “The pandemic has brought digitisation to the forefront of the accounting industry, bringing a decade’s worth of change in less than a year. Xero’s integration with businesses like Senta, will provide even more ways for accountants and bookkeepers to better serve their customers as they recover and rebuild.”
Senta plans to extend this service to integrate with FreeAgent and Sage in 2021. As with all new features developed by Senta, it’s available to all clients as part of their monthly package at no extra cost.
Find out more about advisory here.