Adding Value with SyncDirect Data

David Gale & Grant Linton

OUTCOMESDiscuss your future-proofed data strategy

Explore the opportunities – current & future

Prepare your practice & next steps

CLIENT CHOICE

Shared Data

Small Business

InvoicingDebtors/creditors

PayrollProjects

AccountingPractice

General ledgerFinancial reports

Tax returnsGST reports

ONE LEDGER

DISCUSSIONIn Groups:

Has your practice defined a clear Data Strategy? Is it discussed or even considered?

What is your strategy around client software choice? Fit for purpose, moving to cloud, etc.

Have you adopted a One Ledger strategy? What is your experience?

THE CURRENT PROCESS

ONE PROCESS

SYNCDIRECT DEMONSTRATION

ADDING VALUE

ADDING VALUE

ADDING VALUE

ADDING VALUE

How do you rate?1 Point Activities

Manually re-keying client Trial Balance into your GL.

Manually re-keying GL data into workpapers

Manually re-keying GL data into Tax Return

3 Point Activities

Limited use of Transactional Data Imports

Periodic Management Reporting from within Client’s system

Importing of data into Excel workpapers

GL Data Import into Tax Returns

5 Point Activities

Regular Transactional Data Imports

Personalised Management Reporting

Analytics, Performance Dashboards & Ratios

‘What If’ Analysis & forecasting

Family Group Financial Reporting

Comparisons & Benchmarking

DISCUSSIONIn Groups:

How does your practice currently add value to data collected from clients?

What future opportunities do you see for extracting value?

Has this session changed or evolved your thinking – how so?

ADDING VALUEToday:

Periodic Management Reporting via XPA

XPA Performance Dashboards & Ratios (publish to portal)

‘What If’ Analysis & Charts via XPA Data Import

XPA Ledger Sync into SQL

Alerts and exception reports

Benchmarking

ADDING VALUEIdeas for Tomorrow:

Group Reporting

Performance Dashboards combining XPA, Tax & PM data

Additional connectors for SyncDirect

Additional data sets via SyncDirect

Practice ‘Apps’

NEXT STEPSInitiate a practice discussion regarding Data Strategy

Review your XPA configuration

Periodic Ledgers

Introduce Tag Set Functionality

Review existing XPA Management Reporting

Identify areas where you can leverage Practice IP

Get started with capturing data via SyncDirect…..then scale up!

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