You are familiar with the traditional tax season workflow model a manual process including file folders spread about your office, rubber bands holding routing sheets to client folders, and mounds and mounds of paper.
However, a cloud-based workflow solution takes that process, automates it, and allows you to put your finger on your client’s paperwork electronically from anywhere within the process.
The March 2010, Journal of Accountancy article Toward a (More) Paperless Tax Practice described the automated workflow as a system that electronically moves work from person to person, including:
- Scanning incoming client documents and filing them digitally.
- Shifting responsibility from receipt of source documents through preparation and shipping or e-filing.
- Viewing scanned source documents to prepare and review the return digitally in your tax software.
- Using remote access to check the status and/or responding to review points from home or in the field.
- Archiving the completed return with the source documents in a secure document management or network filing tree.
In fact, the Business Services Industry blog Why Use Workflow Automation indicates that workflow automation may reduce business costs, and that re-engineered processes require less execution and cycle time and fewer steps and employees.
Christopher Colyer, tax manager at Livingston, N.J.-based Wiss & Co. LLP. a firm, which handles about 2,500 individual returns and 3,000 business returns a year, told WebCPA, "It used to be that we'd have meetings to figure out who is doing what; but, you don't need those meetings. It [workflow] is more efficient."
According to XCM CEO, Mark Albrecht, “XCM [workflow] is accessible from anywhere at any time, enabling a virtual work environment giving the individual more control, and the firm (or corporate department) more flexibility in its staffing decisions.”
In May 2010, CPA2Biz added XCM™ Solutions to its Trusted Business AdvisorSM Solutions program, which also includes Bill.com, Copanion, Intacct and Paychex.