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Wednesday
Jun252014

AccountantsWorld announces strategic multi-year partnership with HBK 

AccountantsWorld, a leading provider of cloud-based solutions in accounting and payroll services, has announced the signing of a strategic partnership with HBK CPAs & Consultants (HBK), a Top 100 accounting and wealth management services firm based in Youngstown, Ohio.

HBK will use AccountantsWorld’s award-winning software solutions across its entire firm, which includes offices located in Ohio, Pennsylvania, New Jersey and Florida that offer a myriad of tax, accounting, business consulting, valuation/litigation support, wealth management and business advisory services to thousands of clients.

“AccountantsWorld takes great pride in partnering with accounting firms of all sizes with a singular goal in mind: to help them manage their evolving needs and grow their business,” said Jeff Gramlich, president of AccountantsWorld. “We view today’s announcement as a starting point for a long-term, multi-faceted relationship with HBK, and we are tremendously excited to help such a dynamic, highly recognized firm continue to achieve its strategic goals.”

“The resources AccountantsWorld provides helps accounting firms grow their businesses.  We are confident this affiliation will help enhance the wide range of the services we offer our clients, as well as in assisting with our own aggressive goals for growth,” said Martin M. Gargano, CPA and Principal at HBK.

 

About AccountantsWorld

For over 13 years, AccountantsWorld has been the leading provider of cloud-based solutions designed exclusively for accountants. AccountantsWorld offers a complete integrated suite of innovative payroll, accounting, and practice management solutions to help accountants work collaboratively with clients, foster greater client loyalty, and improve the bottom lines of their practices. AccountantsWorld is also the only leading cloud solutions provider that puts Accountants First™ by never competing with accountants or selling services directly to their clients.

 

About HBK

Established in 1949, HBK CPAs & Consultants (HBK) serves clients ranging from individuals to small businesses to multimillion-dollar corporations across the United States through office locations in Pennsylvania, Ohio, Florida and New Jersey.  HBK specializes in a wide variety of tax, accounting, assurance, and business consulting services to help individuals and businesses achieve their financial goals. HBK is a recurring member of the Accounting Today Top 100 Firms list, having been named the 67th largest firm in 2014 and being ranked #3 in the rankings of “Fastest Growing Firms in the U.S.” HBK has also been named to the “Best Employers in Ohio” list for five consecutive years.

Friday
Jun132014

Where are the growth opportunities for accounting practices?

At first glance, it appears that there aren’t many bright spots for growth for accounting practices today.

For starters, look at the state of tax preparation. More and more clients are buying "do-it-yourself" tax programs and doing their tax returns themselves. Undoubtedly, the market for this service is shrinking.

What about client accounting? It's become a low-margin commodity service, thanks to the most widely used "do-it-yourself" accounting systems sold directly to small businesses. These pieces of software have taken control of many accountants' time and processes. Clients buy the software, but most don't know a thing about accounting, so they end up making bookkeeping messes. Professional accountants like you have to spend hours cleaning up those messes before they can do their professional work. You became an accounting professional so that you could add value to your clients' businesses, and give them the crucial business advice they need. But current circumstances make it difficult – if not impossible – do that.

If we look closely, we uncover a disturbing reality – and the reason that accountants have lost control of their core services (tax and accounting).

While technology has undoubtedly brought in tremendous benefits to accountants, it's also the cause of the diminished control that accountants now have over their core services, and of the marginalization of accounting practices.

The "do-it-yourself" (DIY) accounting systems and tax programs are products of the PC era. DIY accounting systems took control of accounting away from accountants, and DIY tax programs have taken a big bite out of the tax preparation business.

Meanwhile, payroll bureaus used the power of mainframe computers to capture payroll processing services from accountants. The tools accountants had in the 1980's and 1990's were no match for the power of these mainframe computers.

If accountants continue on the same path and keep surrendering more and more of their territory to the ever-increasing intrusion of external forces, the prospects for a brighter future for accountants will keep getting dimmer.

But fortunately, unlike previous technologies, new technological advances have created tremendous potential for accountants to recapture a good amount of business they had lost to external forces.

And that's not all. These technological advances have also created billions of dollars' worth of new opportunities for accountants.

The revolutionary cloud technology that has transformed so many aspects of our lives in sweeping ways has the potential to completely transform the accounting profession and help you revamp your practice.

Ready to learn more? Download our white paper today.

In this white paper, we'll review the major challenges accountants face in accounting today. These obstacles include:

  • Time spent on non-billable (or non-productive) tasks. This includes barriers like fixing client bookkeeping errors, managing different versions of software, and sending files and paper back and forth with your clients.
  • Significant inefficiencies in client accounting, thanks to the reactive role that accountants play in current "do-it-yourself" accounting systems created for small businesses.
  • Diminished perceived importance of your services. When clients use these "do-it-yourself" accounting systems, they believe that they have done most of the work. They get the wrong impression that, as an accountant, you essentially add just little value over what they have accomplished using a piece of software.
  • Difficulty in differentiating your firm.

Then we'll explain why, despite these challenges, we are confident that the future for accounting practices is actually very bright. We'll show you how certain types of cloud technology can help you overcome these challenges. Then we will discuss five exciting growth opportunities created by the cloud and other new developments. These trends have the potential to add billions of dollars in revenue to accounting practices over the next five years. These opportunities include:

  • Regaining control of accounting and strengthening your client relationships.
  • Making your client accounting work 30 – 50% more profitable.
  • Becoming an indispensable "virtual CFO" to your clients.
  • Turning a service you may have considered "no gain, all pain" into one that can be "all gain, no pain" for your practice.
  • Offering a complete accounting service – without additional staff or overhead.

The reality is there is no lack of opportunities for proactive accountants. Download our white paper to learn how to start tapping your practice's true potential today.

Friday
Apr252014

Meet AccountantsWorld at the NY and NJ Accounting Shows

AccountantsWorld will have booths at both the New York Accounting show (April 30 - May 1) and the New Jersey Accounting Show (May 14-15). Stop by for live, hands-on product demonstrations, answers to all of your questions about our cloud solutions, and free giveaways. We'll be at booth #426 in New York and #505 in New Jersey.

In addition, our CEO, Dr. Chandra Bhansali, will be speaking at the New York show, presenting "Cloud Computing Is Here - How To Make The Most Of It" on April 30 at 4 pm. This session will be moderated by Dan Hood, Editor-in-Chief of Accounting Today.

 

If you're an accountant in the NY / NJ area, we look forward to seeing you in the weeks ahead! Haven't registered yet? It's not too late - here are the links for both shows:

2014 NY Accounting Technology Show

2014 NJ Accounting Technology Show

Wednesday
Nov062013

Breaking News: Accounting Relief is now Accounting Power

AccountantsWorld is proud to announce that its award-winning cloud-based accounting solution Accounting Relief has been renamed Accounting Power.

AccountantsWorld is changing the name of its flagship accounting solution to better reflect the most important and distinctive benefits it provides to accountants. Accounting Power certainly continues to make professional accounting work faster and easier, as reflected in its previous name. But today it also accomplishes something more significant. With Accounting Power, accountants have the power to help their clients better manage their business finances and make their services more relevant to their clients’ needs.

“The primary mission of Accounting Power is to help accountants regain the prominence within client accounting that they’ve lost over the past decade,” said Chandra Bhansali, CEO of AccountantsWorld. “Almost all other accounting solutions providers focus on selling ‘do-it-yourself’ systems directly to small business clients and bypassing the accountant, which naturally undermines the accounting profession. The cloud-based Accounting Power has always been designed to support our Accountants First™ position, in which accountants and clients work in true collaboration under the accountants’ direction.”

Accounting Power includes bookkeeping, trial balance, write-up, and financial reporting, all in one integrated system. Because the system is fully integrated, after clients have entered transactions, accountants automatically have that data available to perform trial balance work and prepare fully customizable financial statements.

Accountants can also customize the system for each client, to limit access only to the functions that they are comfortable performing. By maintaining this level of control, accountants can minimize client errors - a major source of wasted time in accounting. And because client data is always accurate and up-to-date in this unified system, accountants are able to offer a much higher degree of strategic insight into their clients’ complete fiscal picture. Accountants can quickly scan their clients’ key indicators and set up alerts to signal any potential warning signs in areas such as cash flow or accounts receivable. This proactive stance allows accountants to serve as a virtual CFO for their clients’ businesses, which is a win-win for both parties. Clients benefit from expert advice and guidance, and accountants become indispensable.

 

For more information about Accounting Power, please click here.

 

About AccountantsWorld

For over 13 years, AccountantsWorld has been the leading provider of cloud-based solutions designed exclusively for accountants. AccountantsWorld offers a wide range of innovative accounting, payroll, and practice management solutions to help accountants work collaboratively with clients, foster greater client loyalty, and improve the bottom lines of their practices. AccountantsWorld is also the only leading cloud solutions provider that puts Accountants First ™ by never competing with accountants or selling services directly to their clients.

Friday
Nov012013

The Story of Sharada Bhansali, One of the 25 Most Powerful Women in Accounting

For over two decades, Sharada Bhansali has been at the helm of product development for AccountantsWorld (and its predecessor, MicroVision Software). Now, she has been recognized for her commitment to our company - and the accounting profession in general - by being named one of the 2013 Most Powerful Women in Accounting.

This list has been put together by our colleagues at CPA Practice Advisor. It recognizes women who have transformed tax and accounting for the better - and who are continuing to shape its future.

And who could fit that profile more than Sharada?

A Trailblazer for Accountants

Sharada created MicroVision in 1984. Her initial mission was to help professional accountants complete their tax work more efficiently by using the latest technologies (at that time, the introduction of desktop PC's). With her husband and co-founder, Chandra, the result was the flagship Tax Relief product, which was used by tens of thousands of loyal accountants across the U.S. over the next two decades.

 

“My focus was never on the technology itself, but rather how it could transform the work and lives of accountants.”

 

In 2003, Sharada and Chandra sold the Tax Relief line to Thomson Creative Solutions. Their intent wasn’t to retire, but to focus on a new realm: helping accountants leverage the Web. They started with AccountantsWorld.com , a portal serving as a free online community of accountants. Six months later, it received Forbes' Best of the Web award. Today, it remains free to join and continues to serve as one of the most popular destinations on the Web for accountants.

Soon Sharada and the AccountantsWorld team realized that the Internet could have even more far-reaching consequences. It offers accountants capabilities they never had before – the ability to work from anywhere at any time, unlimited computing power at very low cost, and last but not least, the ability to work collaboratively with their clients regardless of geographic location.

AccountantsWorld’s focus became to harness the power of these remarkable capabilities to improve accountants' professional lives, especially their efficiency and the value they can provide to their clients.

 

"One of the first things I noticed about Sharada was the focus and intensity she brings to her work. What makes Sharada’s passion more impressive is that her goal has always been to use it not only to benefit AccountantsWorld, but the accounting industry as a whole. Her commitment to helping accountants thrive solidified our organization’s Accountants First™ credo, and continues to exemplify what we’re all about today."

 ~ Jeff Gramlich, President, Accountantsworld

 

AccountantsWorld’s first major undertaking was to level the playing field for payroll processing. At that time, accountants could not offer payroll services profitably, while service bureaus were making 40-45% net profit. The AccountantsWorld team created a powerful processing solution that rivals the capabilities of payroll services bureaus, but at the fraction of the cost of those bureaus. Now accountants could offer highly profitable payroll services.

Under Sharada and Chandra’s leadership, the AccountantsWorld team has also made a lasting contribution to core accounting services by creating Accounting Power (formerly Accounting Relief), a new type of solution that puts accountants back at the center of client accounting. It lets accountants work collaboratively with their clients while accountants remain in command of the entire process. This Accountant-Centric model increases the relevance of accountants by making it easier to help clients run their business efficiently and profitably.

Today AccountantsWorld offers the most comprehensive suite of cloud solutions for accountants:

  • Accounting Power, the first fully collaborative cloud accounting solution for accountants and their clients.

These solutions have garnered two Innovation Awards from CPA Practice Advisor, as well as countless other accolades. And the focus on continual innovation in the cloud has driven the accounting profession – and AccountantsWorld itself - forward. [Gary Boomer quote about AW]

 

Personal Values

In her personal life, Sharada has made an enduring commitment to helping others. For over a decade, she and Chandra have proudly supported The Jaipur Foot Foundation, an India-based organization that has provided high-quality, durable artificial limbs and aids to over 1 million disabled persons worldwide to help them regain mobility and opportunity in their lives - all free of charge.

Sharada and Chandra have two children, Divya and Punita, and one grandson, Andrew. In her free time, Sharada enjoys cooking, reading, and yoga.