SmartVault’s document management software helps Aspirations Accountancy navigate succession planning with ease and confidence
When Tony Kensington, Director of Aspirations Accountancy, sold his 300-client accounting firm to his son Chris while creating a smaller boutique-style practice with 50 clients, he didn’t realize that it would require an overhaul of IRIS, a document management software he’s used for 17 years.
However, as Chris stepped up to take the helm of Aspirations Accountancy and Tony started to work on his smaller size venture, it became clear to both of them that a different document management platform was needed for their transition.
“I had been using Iris for 17 years and their document management solution, but when I transitioned to a smaller size firm, the inflexible pricing model they offered made us look for other options,” explained Tony. “It wasn’t just the pricing of our previous system that was inflexible. So was the functionality—for example, once you uploaded a file you couldn’t move it or change its name.”
Needing a better alternative, Tony and Chris signed up for a free product trial with SmartVault.
In comparison to IRIS, SmartVault offered much more flexibility and additional benefits for clients.“With SmartVault I can drag and drop files where I need them, and the entire structure of the platform can be customised to meet the needs of our business and those of our clients including the naming of files and the access different individuals have to them.”
What’s more, SmartVault also provided two key points of differentiation: the enhanced, GDPR-compliant security features of the platform, and the ability to use client portals to exchange data with their clients.
“Being able to show clients that we are providing them with added security is a really important selling point—especially given the increasing level of cybercrime related to sensitive financial information being emailed or posted. Clients talk and if one accountant is doing something they like and theirs isn’t, it gives them an impetus to leave. These features in SmartVault make our firm stickier when it comes to retaining business.”
“The end result of using SmartVault is that it makes it easier for us to organise, manage and share files internally while also making it easier for our clients to work with us.” The time saved with SmartVault is something Tony plans to put to good use as he enjoys working in his new practice and some well-deserved time honing his golf game.
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