Australia’s choices in practice-management software just got richer thanks to Xero’s new integration with enterprise solution GreatSoft. The cloud-based practice suite is a recent arrival on Australian shores but has already proved itself in 19 countries with top and mid-tier firms including the Big Four, BDO and RSM.
GreatSoft fills a gap in the Australian market for large firms. It not only manages thousands of clients, jobs and staff but integrates with Xero’s tax and reporting tools and offers an open platform for third-party apps.
“What sets us apart is freedom of choice,” says GreatSoft CEO Brian Armstrong. “Firms can select the best apps in compliance, super, document management and CRM, knowing they’ll integrate with our platform.”
The result is a unified view of the client and a single source of truth, across multiple offices and business lines.
Closed versus open
It’s an experience that desktop-based solutions just can’t offer. Because of their closed nature, desktop systems require firms to maintain separate databases for their cloud-based applications, rather than integrate them. It’s an inefficient and expensive approach, and it delivers a poor experience for advisors and clients.
GreatSoft’s integration with Xero Tax will be a key selling point for large Australian clients who are on legacy practice software, says Armstrong.
“Many firms want to upgrade to Xero’s tax solution but are hamstrung by their outdated desktop suite, which doesn’t integrate,” says Armstrong. “That changes with this partnership.”
Xero Tax has set the standard in Australia. It helps firms manage clients’ tax affairs, calculate various types of tax and track workflows for returns. Xero also provides solutions for client ledgers and workpapers. And through its ecosystem of more than 800 third-party apps, there are a host of complementary solutions for reporting, document management, payroll and HR.
Here are some features GreatSoft offers:
- Edit once, sync everywhere
- Single 360-degree view of the client
- Firm can choose where its data is hosted – AWS, Azure, self-hosted or on premises
- Scalable system provides the flexibility and functionality required by large firms
- Nothing to download, nothing to install
- Designed to meet the needs of growing multi-partner, multi-office, multi-entity and multi-service line firms
- Performs as a data aggregation and integration platform, providing a consistent and holistic view of the practice and clients
- Powerful and flexible reporting across divisions, entities and service lines as well as additional reporting capability through Microsoft’s Power BI tool
And here are a few more details:
Number of practice ABNs it can manage: Unlimited
Who it’s ideal for: Firms with multiple offices, entities, and service lines, and complex workflows; offers customisable reporting and permissions
Cost: $40 to $60 per user per month, which includes software, hosting infrastructure, technical and end-user support
Integrates with third-party apps: Yes, 14 apps with half a dozen more expected soon
Implementation: Fully customised conversion and implementation; requires 12 days minimum plus time for customisations and site specific reporting.
GreatSoft is designed for large partners, but firms on Xero will find practice-management solutions to suit every size from sole proprietor on up. See our handy guide. And in the meantime, be sure to check out GreatSoft and talk to Armstrong and his team about how they can help your large firm advance to the next level in practice management.