BaCo Group, a Dallas-based CPA firm, is utilizing a new technology developed in-house to provide their clients with a first of its kind, real-time, accounting service, BaCo Tech. This service has allowed BaCo Group to help its clients navigate the ever-changing environment of COVID-19.
Read More: Fintech Europe Selects Ten Startups for its Fifth Batch
Using BaCo Tech, BaCo Group was able to help its clients apply for PPP loans quickly and efficiently, at no additional charge. BaCo Tech allows CPAs and their clients to have their files in the same workflow, resulting in instant access to a company’s current financial information. Through BaCo Tech, with no effort from its clients, BaCo Group can gather all the necessary data for its clients’ loans, and clients can track their subsequent spending to avoid having to send back money not used on the right expenses in the specified time frame.
Read More: M Financial Group Licenses FAST Software to Enable New Digital Ecosystem for Member Firms
“Whether it’s a tax code change, natural disaster or pandemic, something unexpected is bound to happen every tax season that impacts workflow and the CPA’s ability to effectively do their job. Clients are not concerned with our deadlines and reports; they are only concerned with running their business well and keeping the doors open,” said BaCo Group Founder and CEO Ford Baker.
“BaCo Tech gathers all client data automatically and syncs every evening so that CPAs can gather entries in real-time, making it exponentially easier to assist our clients with their SBA loan applications in the middle of tax season, no matter the current market uncertainties,” Ford continued. “With this technology, I was able to complete SBA loan applications involving 11 different entities in under four hours.”
Read More: Kreditech Rebrands to Monedo as It Steps Up Growth in International Lending Markets
