Empowering Accountants and Small Business Owners Alike: FreshBooks' Collaborative Accounting™ Unlocks a New Era of Synergy Between Accountants and Clients
Toronto, Canada, Oct. 03, 2023 (GLOBE NEWSWIRE) -- FreshBooks, a leading cloud-based accounting solution built for small businesses and accountants, is thrilled to introduce its new game-changing Collaborative Accounting™ model, launching October 3, 2023. Designed with both accountants and small business owners in mind, this innovative approach allows accountants to focus more on providing strategic financial advice, while owners gain real-time insights into their finances and partner with their accountant to make smarter business decisions. All of this is made effortless through FreshBooks' easy to use platform, bringing accountants and clients together in a relationship that’s purpose-built for long term success.
Collaborative Accounting™ strengthens accountant-client relationships by integrating small business owners directly into the financial processes of their companies. This transformative model was developed to address a gap in traditional accounting methods, in which accountants have created workflows and engaged technology with the good intention of lessening the workload and stresses of financial management on business owners. This approach has unfortunately distanced clients from understanding the financial heartbeat of their businesses, often leading them to create their own disparate workflows to keep track of how their company is performing. Additionally, these accountant-designed workflows are often labor-intensive for accounting professionals, making it difficult to scale advisory services and grow their practices.
By leveraging FreshBooks' intuitive platform, Collaborative Accounting™ allows business owners to manage the day-to-day financial responsibilities of running their business, such as invoicing and expense management while giving their accountants real-time access to data. This gives accountants the opportunity to focus on what they do best: interpreting complex financials, optimizing for taxes, and providing invaluable strategic advice.
“Collaborative Accounting™ is a seismic shift that breaks down the isolated silos that have long defined the relationship between accountants and their clients,” says Twyla Verhelst, CPA and Head of the Accountant Channel at FreshBooks. “The end game is empowerment. Accountants can stop doing administratively heavy tasks and re-engage in meaningful advisory roles. It's not just a game-changer; it's a whole new playing field where skills and insights are directed where they're most impactful—driving business growth."
A number of resources are available at FreshBooks to support its Accounting Partners and their clients in the transition to the new model, including the new Collaborative Accounting™ Certification. The comprehensive program teaches accounting professionals the methodology step by step, explaining the workflows, concepts and the process to turn them into action inside an accounting practice. This includes identifying advisory opportunities, and how to carry out highly valued conversations with clients.
FreshBooks’ Accounting Partners also have access to dedicated support - a team of accounting and product experts who are eager to help accountants and their clients on-board and leverage the platform for their specific needs. As well, FreshBooks recently launched the Accountant Hub, which provides accountants with a tailored set of firm-specific features so they can hone in on their ideal workflows. FreshBooks is also dedicated to building a community of Collaborative Accountants in which partners can share best practices.
“In launching Collaborative Accounting™, we're doing more than adding a new feature; we're paving the way for a new era in accounting that aligns perfectly with our mission to help small business owners around the world to grow," says Mark Girvan, President of FreshBooks. “By connecting accountants and owners in a collaborative system, we’re amplifying human expertise through technology and unlocking incredible business value for all of our customers.”
The Collaborative Accounting™ methodology was developed in close consultation with industry professionals, including FreshBooks' Partner Advisory Council, commonly referred to as the FreshPAC, a select group of CPAs and seasoned accounting experts. As lead of the Accountant Channel at FreshBooks, Twyla Verhelt shaped the model of Collaborative Accounting™ to address the needs and concerns of accounting professionals at a time when the industry is challenged by staff shortages and talent acquisition.
“FreshBooks is offering us a model that’s invaluable—both for us and our clients,” says Kristen Keats, CPA, Founder of Breakaway Bookkeeping & Advisor and member of the FreshPAC. “It not only offers clients clear insights into the financial health of their business but also gives us a comprehensive view into our client's workflows and how they’re going to make money. This helps us advise them on how to get paid, and set up their business for sustainable growth.”
FreshBooks welcomes accounting professionals to unlock the future with Collaborative Accounting™. Begin the journey by becoming a FreshBooks Accounting Partner at freshbooks.com/accountants
FreshBooks is on a mission to help small business owners grow and thrive. Our easy-to-use accounting platform, trusted by businesses in over 130 countries, simplifies invoicing, accounting, payments, expense management, and empowers owners to track and manage the day-to-day finances of their businesses. Elevating the customer experience, our game-changing Collaborative Accounting™ model allows small business owners to partner with their accountant on the FreshBooks platform, streamlining workflows and providing real-time financial insights that drive strategic decision-making and business success. With 11x Stevie award-winning customer support, FreshBooks serves a diverse range of customers, operating from offices in Canada, Croatia, Germany, the Netherlands, Mexico, the U.K., and the U.S. Consistently honored as a Top 10 employer by Great Places to Work for eight of the last nine years, FreshBooks is committed to delivering exceptional experiences to our customers.
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