Audit software firm launches new compliance tool

Audit software firm launches new compliance tool

A financial and audit software company has launched cloud-based technology designed to improve the collaboration between accountants and other finance professionals.

The MyWorkpapers Connect technology enables Australian accountants to manage their monthly client work and build up a year-end file or use it specifically for year-end compliance.

“Accountancy practices, bookkeepers and businesses will benefit from faster and more accurate work-paper generation and financial verification, significant administrative time savings and access to actionable business intelligence that will increase overall profitability,” said MyWorkpapers.

MyWorkpapers executive director Anton Donde said the new technology builds on its existing product set to help accountancy practices not only systemise their workload and become more competitive but it also provides them and their clients with content, methodology, technology and innovation to improve productivity, compliance and collaboration.

“A unique feature of Connect is that it empowers the adviser to work with in-house finance teams, bookkeepers and business owners to improve processes,” said Mr Donde.

“By creating and monitoring to-do lists for monthly, weekly or daily tasks, advisers can ensure their clients are doing the right things at the right time in their business. For example, setting up weekly routines for cash control or when to process bank feeds.”

Mr Donde said having best practice solutions in place is vital for advisers to grow their fee base.

“By introducing a virtual software platform that both they and their clients can access and collaborate on, advisers can increase client stickiness as they increase the appreciation of the knowledge and value that their accountant can bring to the table,” he said.

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