Practice Management System
Manages engagements’ onboarding process, progress and invoicing status. Incorporates effective scheduling tools to optimise staff allocation, utilisation and billing contributions.
Please review all requirements. Your solution must meet all 🔴 mandatory requirements to qualify.
1.01🔴
Customer Relationship Management Does your solution come with Customer Relationship Management function to help the firm manage their interaction with current and potential customers, such as customer contact, opportunity management, and sales and marketing activities? - Setup/edit customer contact across all modules real time with just one single entry - Set up multiple entities under a single group - Monitor real time job and billing status by customer - Monitor project pipeline and activities by customer - Assign/edit different categories to clients and prospects to conduct targeted marketing and communications - Include remarks (e.g. call and meeting details) on potential leads - Manage initial contact before client acceptance to facilitate KYC, tracking of past interactions including revisiting for possible other offerings and facilitate customer due diligence and final acceptance
1.02
- Limit access/authority to selected information within the system (e.g. audit staff can only access the audit clients & engagement information but not the other service lines)
1.03🔴
Financial Management and Accounting Does your solution come with Financial Management and Accounting function to help the firm manage budget, billing and invoicing? - Setup/edit automated alert function to provide budget/billing/accounts receivables reminders - Track accounts receivable - Setup multiple entity for invoicing and receivables
1.04
- Auto invoicing via milestones by date and/or hours
1.05
- Automated workflows to process recurring payments
1.06🔴
Project Management Does your solution come with Project Management function to help the firm estimate project costing, monitor work in progress, and monitor staff performance? - Allocate jobs to accountants with automated email alert function - Monitor project status and bottleneck - Monitor project costing and profitability - Enter timesheet, available real time - Monitor staff utilization and performance - Forecast manpower resources, resource planning - Adjust real-time capacity when timesheets are entered, jobs allocated and staff records updated - Engagement code auto generation for multiple engagements and for different service lines - Alignment of individual engagements to overall function/service line utilisation report - Tracking of inter-service line or function charging/invoice
1.07
- Staff claims module including approval process - Cashflow management including forecasting and budgeting module - Timesheet via mobile app
1.08🔴
Dashboard Does your solution come with customized dashboard that can track firm's operations, staff projects and client status? - Customise performance metrics - Monitor engagement which has yet to start but approaching filing deadline - Staff utilization and performance report - Ability to generate client engagement list containing data required by ACRA inspection - Ability to generate lead conversion report - Review cash flow, revenue, workflow, profitability, employees, billing, receivable workflow - Filter by project, by customer, by employees and by profitability - Security restrictions such that data available is on an as needs basis - Advance search function
1.09
- Audit Quality Indicators under ACRA's AQI Disclosure Framework - KPI monitoring with customisable metrics by individual staff such as partner/manager
1.10🔴
Integration Are the modules above tightly integrated, information can be pulled from all modules and is linked to Dashboard ?
1.11
Others Is your system using a cloud based platform?
1.12
APIs Can your software integrate with other software (e.g. accounting software) - Software has a module for integrating with other software for pulling and pushing of information (e.g. pulling of information from accounting software, billing information can be captured into accounting system) Automated PMS tools to aid the firms in the execution and monitoring of the Quality Controls processes/controls. Automated tools aid in efficiency and effectiveness of the firm’s QC functions
1.13
Can your software integrate with systems such as email, KYC/AML, audit, document management system, and HR software? (e.g. claims information can be captured into HR software) Can your software integrate with data analytics software?
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