3 Ways Document Automation Software Will Save Your Tax Season

March 30, 2016

Adopting new cloud technology during the busiest time of year (tax season) might be the smartest decision you make in 2016.  It’s counter-intuitive, but stick with me.

In my conversations with advisors, I’ve found two clear sides: those who have leveraged the power of cloud technology, and those who have not. And, what is the difference between these two groups? One is stressed. One is not.

The volume of work associated with tax season breeds anxiety. There is one significant and often overlooked aspect that slows you down dramatically:  your client's promptness in getting you documents. Not having your client’s documents when you need them is a non-starter. Without them, you're making calls, waiting around and rescheduling appointments. In fact, some advisors have even had to send bike messengers to pick up their client’s documents!

This is solvable thanks to cloud-based document automation software. “I hear you,” you say, “But, let’s wait until after tax season. I don’t have time to set up new software.”

Stick with me, I say.

Common Misconceptions of Cloud Software

Using new software during tax season sounds counterintuitive, doesn’t it?  Let’s clear up some common misconceptions about cloud software in the modern age.

“It’s going to take forever to setup”

Conventional software required extensive implementation. But with cloud software, all you have to do is create an account and you’re good to go.
 

“I’ll have to spend money on a sophisticated machine to run new software”

Cloud software is built for convenience. Access it with any machine, anywhere a connection to the Internet exists (which is just about everywhere these days). No more costly hardware upgrades!
 

“I’ll need to have specialized knowledge for day-to-day operation and maintenance”

Cloud software is designed with the user in mind. Upgrades are rolled out frequently. Downtime is virtually non-existent. No complex coding or certification courses required!

Now, that you’re (hopefully) past your initial trepidation about new software. Let’s talk about why implementing document automation software will be the best decision you make this tax season.
 

Adopting Document Automation During Tax Season

It saves time and money by eliminating the need to ask clients for their documents

With just a few clicks of your mouse, you can connect with online vendors to fetch your client’s documents.  Gone are the days of having to rely on client promptness to move papers from person to person. And you can forget the dreaded shoebox at year-end! Condense catch-up work by clicking a few buttons to retrieve, to update, or to upload documents.
 

You have the documents you need, when you need them

Connect with online portals and future documents are filed in their respective folders the day they are available. Looking for that credit card statement from mid-2015? No more digging in that file cabinet. All your documents are in one searchable location. You can save time by engaging in consistent bank reconciliation throughout the year, rather than having it pile up during tax season.
 

It reduces the amount of data entry through automation

Integrations give you the ability to automate the creation of entries in accounting platforms like QBO and Xero. This will create efficiencies that reduce the time you would spend entering routine data. Having more time during tax season is a lifesaver because you can focus on producing quality work for your clients when they most need it.

The accountants and bookkeepers on top of tax season have leveraged the power of cloud-based software to cut their tax season stress. Now, you can too.

Cloud-based software makes everything easier. When cloud software works together, you get an unparalleled increase in production. Xero Platinum partner BookKeeping Express reduced document collection time by 25% by using Hubdoc.  This makes every client touch more meaningful and productive.
 

Conclusion

If this interests you, come check out Hubdoc. Getting started is easy. Create an account, connect Hubdoc to your desired vendors, and you’re done. A few more minutes and you’ll have your client’s documents right in front of you. You’ll save hours and stop tax season stress in its tracks.

 
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