Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors

2,267 views

Published on

Sachetta & Callahan, LLC needed to accomplish more work without adding staff. Utilizing CCH Axcess – the professions first modular, cloud-based tax preparation, compliance and workflow solution – has allowed the firm to become more efficient and even reduce the need for temporary staff, thereby increasing profits. To learn more visit CCHGroup.com/Axcess today.

Published in: Business
  • Be the first to comment

  • Be the first to like this

Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors

  1. 1. Tax & Accounting Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors Case Study: Digital Tax Workflow When you have to be rightWhen you have to be right
  2. 2. Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors2 Challenge: Sachetta & Callahan, LLC needed to accomplish more work without adding staff. Solution: CCH Axcess has allowed the firm to become more efficient and even reduce the need for temporary staff, thereby increasing profits. Revolutionizing the Tax Workflow The 15-staff firm uses many of Wolters Kluwer’s cloud-based software solutions, including CCH Axcess™ Tax, the tax preparation and compliance module, CCH Axcess™ Document, the document management component, and CCH Axcess™ Practice, the practice management and time-tracking software. The firm also uses CCH Axcess™ Portal, a secure repository for exchanging client documents, and CCH® ProSystem fx® Scan with AutoFlow Technology, which takes scanned source documents and 1040 workpapers and sorts and converts them into a comprehensive PDF — organized, bookmarked and ready to seamlessly flow into a tax return. In addition, the AutoFlow Wizard made linking extracted source documents to the correct tax return fast and easy for Sachetta & Callahan, LLC, and automatically matched their current year source documents with prior year pro forma data. Superior software technology is what allows Sachetta & Callahan, LLC, a CPA and wealth management firm serving the greater Boston area, to distinguish itself, says Partner Joe Sachetta. Overall, Sachetta is astounded at the efficiency made possible with Wolters Kluwer’s integrated software solutions and by how technology has entirely revolutionized the accounting world. “I have been doing this for 35 years, and I can’t even imagine operating today the way we did when I started and how we would make any money. We are so much more efficient now, and every year even more so because of the technology. It’s mind-boggling.” — Joe Sachetta, Partner, Sachetta & Callahan, LLC Joe Sachetta, CPA/PFS, CFP, MBA, MST Partner Sachetta & Callahan, LLC Boston, Massachusetts
  3. 3. Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors 3 Higher Efficiency Results in Higher Profitability The firm, which was founded in 1984, had been using Wolters Kluwer’s on-premise CCH® ProSystem fx® Tax and CCH® ProSystem fx® Document software for 25 years. When it moved to the cloud, the firm staggered its implementation — starting with CCH Axcess Tax for two seasons before implementing the rest of the software. All of the software works together seamlessly, and Sachetta explains that CCH ProSystem fx Scan and CCH Axcess Document were key components to going paperless and optimizing the tax preparation process. They ensure a uniform presentation of clients’ tax documents and automate data entry tasks, which improves efficiency. Additionally, CCH ProSystem fx Scan with AutoFlow Technology allowed the firm to eliminate the use of temporary employees who manually entered data, saving more than $20,000 a year. Plus, not hiring people eliminates the need to interview people and provide office space to them, as well as the time spent on payroll administration in relation to their employment. “How do you measure all of the costs? It’s hard to wrap your arms around the total cost of employing someone.” Another benefit of the software is the faster practice management and time tracking that CCH Axcess Practice delivers. Because of it, the firm has been able to eliminate paper time sheets. And, authorized staff members can access information about each project online, which helps the firm more quickly and easily invoice for services. “It all works together. From CCH Axcess Tax, we can print to CCH Axcess Document, send the invoice to CCH Axcess Practice, e-file the tax return and upload the client copy to CCH Axcess Portal.” That integration has resulted in major time savings.
  4. 4. 4 “I know it’s faster. I would think it’s more than five minutes faster per return — and we did 2,200 tax returns last season, so you’re talking about a lot of time. And, for a return with brokerage statements, the automation can save an hour or more for each one. That means that we can do more work without adding staff members (and in fact reducing the need for temporary staff), and that makes for higher profits.” Secure File Transfers Sachetta says that CCH Axcess Portal has extended the firm’s paperless office from the client perspective. Clients can upload documents and access their tax returns 24/7, and all data is protected and exchanged securely. Additionally, CCH Axcess Portal saves the firm money that used to be spent on paper, printer toner and postage. “I can’t put an exact number on it, but it’s thousands of dollars saved in postage and printer ink toners per year because of CCH Axcess Portal.” Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors Sachetta’s Tips for Other Firms 1. Use three monitors for the most efficiency. Staff members use three screens to do the work, and also have a TV set hooked up to the computer so that clients can see their return virtually as it’s being completed. 2. Consider using VoIP for phone and fax. “Because our VoIP displays the office number as the caller, I can return a call without giving out my cell phone number. That may seem like a small thing, but I only want my wife or kids or a friend to have my personal cell number.”
  5. 5. 5Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors More Accuracy and Reliability, No File Cabinets, Protected Data It’s not just the time savings that pays off for the firm, but also Wolters Kluwer’s accuracy. Sometimes someone would accidently input wages as state withholding taxes or make transposition errors. “If you didn’t catch those things, you certainly had a lot of explaining to do to clients. The reliability and accuracy that Wolters Kluwer’s automation features deliver are better than possible when humans input raw data.” Moreover, the software is reliable. It doesn’t get sick. It always comes to work. “How do you quantify reliability? Technology doesn’t have bad days; it doesn’t bring personal problems to work. Don’t get me wrong, I really like people, but the less people you have to provide a desk and computer for (who also don’t call in sick), the simpler it is.”
  6. 6. 6 Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors A Higher Standard for Customer Service Even though clients expect an immediate response, Sachetta says that the firm’s response time can still wow a client. “I can sit in the chair the entire day without getting up. Everything’s all there. The data. The answers. Our responsiveness is impressive to clients and something that makes us stand out.” Another savings from being fully digital is the elimination of the firm’s file cabinets and rented storage space. Finally, Sachetta points out that the ability to securely store documents electronically protects the firm because Wolters Kluwer is watching over client data so that documents don’t get lost, stolen or corrupted. “I think Wolters Kluwer’s cutting-edge technology sets us apart. Our clients and potential clients know that we’re operating our practice in an efficient and effective way. This translates into better service and lower fees.”
  7. 7. 7Sachetta & Callahan, LLC Uses CCH Axcess™ to Compete with Larger Firms and Stand Out from Competitors Path to a Better Software Implementation 1. Make sure that upper level management champions the conversion. “In many firms, it’s the younger staff trying to convince the older decision-makers to buy in. In our practice, it was management that adopted the plan, leading the way.” 2. Ensure that everyone embraces the new technology. “The benefits of the technology can’t fully be realized until every member of the staff is using it, and using it correctly.” 3. Implement new technology in the off-season. “This allowed us a chance to get familiar with the programs when not under the gun. By the time tax season rolls along, we’re at least somewhat familiar with the new programs.” 4. Value training and ongoing communication. The firm uses Wolters Kluwer’s Professional and Client Services to train staff, then keeps an open line of communication about the software from there on out. “We have a staff lunch meeting once a week to make sure everyone is on the same page. As programs are being upgraded with Wolters Kluwer’s updates, it’s important that everyone be kept abreast of changes. Each of the programs can be somewhat customized based on the preferences of the firm. Our firm meetings help us sort out these preferences and guarantee that we’re all using the programs in a consistent fashion.” Higher Staff Retention Because of the software, staff members have more flexibility and can work from home, which they appreciate. “This came in handy last winter when many of us worked from home during numerous snowstorms. And staff members are more satisfied because they’re not doing the administrative tasks automated by the software. Our staff retention is very high, and I think that’s partly due to the superior software.”
  8. 8. When you have to be right © 2016 CCH Incorporated and its affiliates. All rights reserved. Contact information: Wolters Kluwer 2700 Lake Cook Road Riverwoods, IL 60015 United States 800-739-9998 Please visit CCHGroup.com/Axcess for more information. 4/16 2016-0014-6

×