In the fast-moving accounting industry, staying ahead of the game and boosting efficiency is essential. At TaxDome, we help you do just that. We’re constantly developing our platform to offer localised solutions that save you time.
With that in mind, we’re excited to announce the release of our new integration with Companies House. This is a game-changer for accounting firms with clients incorporated in the UK. It offers a multitude of benefits, from streamlining processes to improving accuracy.
In this article, we’ll explore what this integration means for your firm and how it can help revolutionise UK accounting practices.
What is Companies House?
Companies House is the UK’s registrar of companies. They maintain a database of company information, including financial statements, director details, company addresses, key deadlines and more.
With our new Companies House integration, accountants with UK-based clients will be able to seamlessly incorporate this data into their TaxDome CRM, enabling them to access, verify and utilise this information for their daily tasks.
We released the first iteration of this integration earlier this month, allowing you to update account info with data from Companies House in a single click. Future releases will bring additional use cases (more on that later).
How our Companies House integration will help you
If you have clients incorporated in the UK, you’ll be able to use our new Companies House integration to unlock the following benefits and use cases.
1. Efficient due diligence and onboarding
One of the primary advantages of integrating Companies House data is its impact on due diligence and client onboarding.
When onboarding new clients, accountants need to gather a lot of information about the company’s structure, directors and financial health. This integration will automate this process, reducing the time and effort required to perform these tasks.
Moreover, the integration enhances the accuracy of client due diligence, minimises the risk of compliance breaches and ensures that all regulatory requirements are met.
2. Deadline management
With the option to import data to a single account or in bulk, you can wave goodbye to any fears of deadline management. With a single click, you’ll be able to pull in all the relevant deadlines for the businesses you work for.
Customisable tables will allow you to review all the important dates. By using these in collaboration with our custom recurrence schedules, you won’t even have to worry about adding them to workflows either.
3. Reduced manual data entry
By pulling in data relating to deadlines and company information, you can populate your CRM with everything you need. This saves you countless hours of manual work, allowing you to focus on bringing true value to your firm.
What’s more, by significantly reducing the need for manual data input, this integration reduces the risk of error.
4. Real-time monitoring and updates
Companies House data is frequently updated, reflecting the latest changes in a company’s structure, leadership and financial status. By integrating this data into TaxDome, you can access real-time information.
This means you can continuously monitor your clients’ businesses and proactively identify potential issues or opportunities. For instance, you can spot changes in directorships or financial performance, which may signal the need for adjustments in a client’s financial strategy.
The next steps for our Companies House integration
We’re releasing this integration in stages. The initial release is already available, allowing you to sync account information with data from Companies House in a single click. Future releases will allow you to:
- Create new accounts and contacts using data from Companies House to streamline the onboarding process
- Automatically configure tasks and jobs based on key filing deadlines imported from Companies House to improve deadline management
- Automate the process of updating client information from Companies House, ensuring that your data remains accurate and up to date
Ready to boost efficiency and accuracy in your firm?
If you have clients that are incorporated in the UK, integrating Companies House data into your accounting practices will significantly enhance efficiency, accuracy and compliance. You’ll be able to unlock a range of benefits, including:
- Simplified due diligence
- Real-time updates
- Streamlined financial analysis
- Reduced manual data entry risk of error
- Improved regulatory compliance
With the financial industry becoming increasingly data-driven, this integration is a powerful tool that will enable you to work smarter and faster.
Want to try it for yourself? Sign up for a free two-week trial.
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