VC-backed start-up targets accounting firms for growth.
Jody Padar, CPA, MST, principal of New Vision CPA Group and author of "From Success to Significance: The Radical CPA Guide" is partnering with Enrico Palmerino and the team at Botkeeper, a new-age bookkeeping solution enabling accounting firms to expand and modernize their businesses.
The partnership was unveiled at the three-day QuickBooks Connect event in San Jose, CA. Padar presented on Accountants Day during a breakout session entitled “A New Business Model for CPA Firms: How to Bill $1M per FTE.” Shortly after, the new partners hosted a joint event titled “Getting Radical with Botkeeper” which was streamed via Facebook Live.
Botkeeper is advancing how the entire bookkeeping industry has been managed by accounting firms, augmenting the need for a bookkeeping department.
With Botkeeper, accounting firms can offload the day to day blocking and tackling of bookkeeping (data entry, reconciliations, classifications), allowing accountants to focus on hire level client advisory services. Using machine learning that has been exposed to millions of financial transactions, botkeeper is able to fully automate a bookkeeping department without increasing headcount/overhead.
With Botkeeper, firms see a massive reduction of human error, superior reporting, as well as real-time and 24/7 data entry. White-labeling botkeeper’s services reduces bookkeeping costs by 30% to 50%, and allows CPAs to take on 10 or more new clients per day.
“Botkeeper has fundamentally changed how a CPA firm of the future, (but really happening today) will operate,” says Padar. “We can scale infinitely and reduce our costs significantly. It is so exciting to me to be able to share this new technology with the accounting profession and truly help radicalize other accounting and bookkeeping firms and change their business models to promote a better firm culture.”
“We are thrilled to be working with Jody to help elevate the modern day accountant and give them a platform to scale upon.” said botkeeper CEO Enrico Palrmerino. “It’s an honor to work with one of Accounting’s greats - especially when she helped trailblaze the path that botkeeper was built upon.”