Make Mother Nature Happy – Go Paperless

Have you gone paperless?  Innovations in technology and a focus on process improvements have paved the way to making “paperless” a reality for those businesses interested in improving efficiencies.

But did you know, “paperless” goes far beyond saving on toner and paper?

As tax goes digital, from electronic tax preparation to efiling, the way tax professionals work has changed dramatically in recent years. But the benefits of paperless don’t simply lead to cost savings and improved efficiencies. Industry leader TaxCycle, a sponsor of the Distinguished Advisor Workshops next week, is a company who has re-imagined the tax office of the 21st century.  Marc Labrecque, TaxCycle Sales Director, explains that “Paperless Tax Workflow“ is only part of the story: “What we focus on is ‘Workflow Automation.’

Cutting edge technology and issues-based education for advisors are a good mix for growing tax and financial services practices.  TaxCycle agrees:  

“As an Education Partner, the Knowledge Bureau provides our clients not only with access to up-to-date tax information and commentary through EverGreen Explanatory Notes, but also a means for our clients to provide ongoing tax training to new staff. In addition, they assist seasoned staff looking to continue their learning journey and enhance their portfolio of services to their clients.”

Reducing paper printing, handling and management is just one of many benefits of this automation. Others include reducing the time you spend organizing slips before preparing returns, improving your communication with clients and government agencies, and helping you handle heavy workloads in the heat of tax season.”

By monitoring accounting trends, the CRA’s strategic direction, and innovations in technology to build electronic tools that will meet the needs of Canadian tax preparers now and in the future, TaxCycle focuses on today’s needs while anticipating and preparing for future shifts in the industry.

TaxCycle was one of the first companies to integrate the CRA’s new Tax Data Delivery (TDD) system for securely requesting and receiving data about taxpayer slips, RRSPs, the Home Buyers’ Plan, capital gains and losses, and more. And the drive to error-free electronic filing has led to innovations in workflow management, leading to reductions in filing errors—music to both preparers and their clients.

For many practices, filing a return is just a small aspect of the complete filing process. Organization of receipts, returns and documents can pose additional challenges. That’s where paperless offices really see the benefits of an electronic tax office. Electronic client records that are easily accessible and e-scans of receipts and supporting paperwork not only help make room in your filing cabinets, but also make information retrieval almost instantaneous, quick and easy if CRA comes knocking. 

Still not sure if a “paperless” tax practice is for you?  In their 2014 annual user survey, TaxCycle clients boasted significant improvements, including:

• 41% decrease in paper printing and handling
• 30% more accurate tax return preparation
• 21% average time saved per client engagement

With improvements like these, isn’t making the shift to a paperless practice with automated workflows an obvious choice? By making “back office” processes smoother and less time consuming, professional tax preparers can focus on what really counts: their clients. As a sponsor of Knowledge Bureau’s Distinguished Advisor Workshops, TaxCycle shares our desire to elevate the practice of tax preparation.

Interested in learning more about TaxCycle and the benefits of automated workflows and paperless tax preparation? Register for Distinguished Advisor Workshops, June 17-June 22. Or visit: www.taxcycle.com