When it comes to better supporting clients, new-age financial technology is continuously evolving and improving the way accountants do their jobs. Divvy is allowing accounting professionals to break free from the typical, siloed financial technology stacks that lead to inefficiencies, high costs, and security concerns, among other things.
In our upcoming webinar on August 27, 2020, we’ll offer a live demonstration of Divvy and explain in detail how our powerful platform enables CPAs to unify transaction data and spend activity in a single place, eliminate manual processes like receipt chasing, help clients build enforceable budgets to eliminate overspend, reduce software and subscription costs, and become new-age fintech experts in order to land new business.
The Problem with Siloed Tech Stacks
One of the biggest problems faced by many accounting professionals is that they lack a centralized system for managing expenses and streamlining processes. More often, they have a siloed tech stack made up of various financial tools with little or no integration.
Siloed financial stacks lead to a whole host of problems. First and foremost, critical processes are inefficient for both the firm and its clients, leading to delayed insight into transactions on all sides. The need for multiple software logins leads to lost data and security concerns, while you incur high software costs in the process. There’s also a continual challenge to adhere to budgets, with too much time spent on unnecessary tasks like chasing down receipts.
These issues are only some of the problems you’re guaranteed to experience if you continue working with a siloed tech stack. Divvy is changing the game, unifying the fintech stack so CPAs can cut costs, streamline processes, and grow their business.
Meet Divvy’s Unified Stack
Divvy has done away the disparate, unintegrated systems that have been plaguing the accounting profession for years. We’ve replaced your corporate and personal credit cards with a more effective and efficient system that gives you full control and visibility into your expenses and processes.
Divvy marks the end to financial babysitting. You no longer need to waste time following up on client transactions or chasing down receipts. You see your clients’ transaction in real time and get automatic receipt capture and expense categorization. Clear visibility into spend means no more time-consuming follow-up.
The ability to enter and reconcile expenses in real time makes budgeting a breeze. Now you can guarantee that clients never exceed their budget limits – a concept that previously seemed like an impossibility. Enforceable budgets take financial services to the next level.
Divvy offers you similar control over reimbursements, allowing you to always keep out-of-pocket spend in-budget. Reimbursements can be submitted mid-workflow, meaning submission is no longer a painful process (so there’s no excuse for not doing it). Out-of-pocket expenses are applied against specific budgets and handled in the same place as credit card expenses, making it easy to manage and reimburse all expenses at the same time, without delay.
Speaking of credit cards, your clients are empowered to run their businesses more efficiently by giving everyone a Divvy credit card with admin control. There’s never a worry about exceeding budgets when people are on the road, though, because with Divvy travel budgets are enforceable (not just guidelines or suggestions, as they’ve often been treated in the past). When the budget runs out, the card stops working. You can tailor your budgets to be as broad or specific as you want, and your clients can control exactly how much money each budget member has at any given time.
Grow Your Firm with the Divvy Partner Program
Divvy has created a partnership program to help CPAs generate business within existing accounts and help find new accounts. They offer different benefits like revenue share and exclusive Divvy partner benefits for firms apart of the program.
Join us on this webinar to see how other firms are using Divvy to build better processes for their firms and their clients, or visit Divvy to learn more about the Partner Program today.
Author Bio: Ryan Dance is the Sr. Partner Sales Manager at Divvy. He is an avid Soccer Player, retired (washed-up) wakeboarder, bald bearded father of 2, and works closely with accounting firms, CPAs, and bookkeepers across the US to help their books of business transition over to Divvy's free platform.