Machine Learning-Powered Bookkeeping Leader to Supercharge the Accounting Industry’s Success by Dedicating Their Offering to Accounting Firms
Botkeeper, a leading Machine Learning-powered bookkeeping solution, is turning the accounting industry on its ear in 2021. The “service as a software” pioneer that has provided both a direct to SMB and wholesale solution to accounting firms via Botkeeper’s Accounting Partner Program, has announced today that they are going all in on their vision to enable accountants and firms by requiring SMBs interested in using Botkeeper to do so through their Partner Community. With Botkeeper’s unique approach to client growth and success, this industry disruptor is not just solving the bookkeeping problems within an accounting firm, but they are also acting as a force multiplier to their Accounting Partner’s success.
“Botkeeper is addressing accounting professionals’ biggest pain points,” said Enrico Palmerino, Founder and CEO, Botkeeper. “Our AI-powered solution takes hours of tedious bookkeeping work off their plate, allowing accountants to truly be more human and strategic with clients. Going forward, not only will Botkeeper increase efficiencies and the ability for accountants and firms to scale, we will also provide them with leads and revenue by matching them with SMBs instead of having the businesses buy Botkeeper directly.”
Botkeeper is building a first-of-its-kind model that not only alleviates accounting firms of their bookkeeping challenges, but also connects their partner Accountants/CPAs with businesses in need of bookkeeping and accounting support. Botkeeper’s messaging and presence has made a lasting impact on the business owner community, attracting professionals who want to grow and scale their businesses by bringing the best-in-class bookkeeping option into their organizations, resulting in 300k visitors to their website in 2020 alone. With this shift in focus, the company can now funnel those businesses that are raising their hands in need of bookkeeping straight to the Accountants or CPA firms in the Botkeeper ecosystem. Botkeeper’s unique approach to growth enablement and client success brings something completely new to the accounting industry and will help shape the future of the profession.
“Directing SMBs in need of bookkeeping to our partners allows them to get a skilled team of experts capable of offering not only bookkeeping powered by Botkeeper, but also CFO and advisory services, audit and forensic accounting, and tax and other industry specific offerings,” said Palmerino. “We are all-in on advancing the industry in a win-win objective. It’s important to add that we have grown accounting firm users five times over last year’s use and contracted more than 1,000 partner SMBs in the last 60 days alone.”
“There are millions of business owners who need high quality and reliable financial data now more than ever. This means that accounting professionals are in higher demand than they have ever been before, but their ability to scale client capacity has always been hindered by the labor-intensive and error-prone bookkeeping methods available,” Jessica King, Vice President of Marketing, Botkeeper. “It’s truly invigorating to be at the forefront of an entirely new service model. While we’ve always dreamed of changing the way bookkeeping was done, we’re thrilled that we have the opportunity to do something completely new for this space, having found the most powerful way to make that happen.”
Botkeeper is transforming the accounting industry, bringing the technical innovation that has lagged behind other industries, and creating more opportunity for industry professionals to provide greater value to their clients. Botkeeper’s unique combination of machine learning, skilled accountants, and practice management tools automates the most repetitive, labor-intensive parts of an accounting professional’s job, leaving more time to provide hands-on client care and to show just how valuable an Accountant or CPA’s services can be to a business’ bottom line. Botkeeper’s strategy of growing its network of Accounting Partners and funnelling businesses in need of accounting services to these partners is going to have a significant impact on the productivity and growth of the industry.
“By automating bookkeeping tasks and referring businesses to our accounting industry clients, Botkeeper is committing to help Accountants and CPAs super-charge their growth,” said Byron Patrick, Chief of Client Success at Botkeeper. “As we enter into a new year, Botkeeper is ready to help Accountants and CPAs maximize their efficiency and connect with new customers.”
Botkeeper used 2020 to focus internally on its team, culture, engineering, and Accounting Partners. Employee and client satisfaction scores increased to 4.55 and 4.62 out of 5 respectively. The company’s technology team reduced the average manual hours required to service a client by 39 percent. Last year several CPA firms reached 100 percent adoption of Botkeeper for all their clients, with several more slated for firmwide rollouts in 2021 and 2022.
“I think that Botkeeper’s decision to shift to this new business model presents a great opportunity for CPA firms to focus on the services that provide higher value to their clients,” said Evan Paris, Principal at JHR Consulting. “The move to gain market share through leveraging CPA firms is a smart move for Botkeeper and offers a sizable advantage to the CPA firms that join the portal. It allows those CPA firms to offer higher-value services to their clients with no additional internal resources and the ability to become more profitable.”