Industry research finds huge business opportunities for accountants who offer online portals and online document sharing services
DRAPER, Utah, October 21, 2021--(BUSINESS WIRE)--According to a new study commissioned by Canopy, the leading cloud-based practice management platform for accounting professionals, small businesses prefer accountants who use efficient technology. The study of 1,001 small businesses, found that 63% of the respondents interviewed said that their accountant doesn’t offer an online portal while 56% percent noted an online portal as an important feature. More than two-thirds of respondents (70%) said they would be interested in switching to an accountant that allows them to take photos of their documents for easy sharing.
"There is a clear desire from accounting clients across the board for streamlined communications and easy access to upload, share, and sign documents online. While this trend is not new, we have seen a considerable increase in client’s technology expectations over the course of the last 18 months," said Larry Furr, Chief Product Officer, Canopy. "This survey shows that with the latest technology, accountants will certainly have a competitive edge."
The survey found that when it comes to sending documents online:
Only 29% of businesses with 1-5 employees have accountants that offer access to uploading and seeing documents online, securely
This increases to:
40% of businesses with 6-10 people
68% of businesses with 11-50 people
and 69% of businesses with 51-100 people
"Based on the research, it looks like smaller accounting firms seem less likely to offer seamless document sharing. Hence, to compete against larger firms, they might want to think about investing in this capability," continued Furr.
Additional findings include industry-relevant information including:
95% of respondents from the financial industry would consider changing their accountant to one that has an online portal
96% of respondents from the financial industry would consider changing their accountant to one that uses the latest technology
70% of the manufacturing industry and 63% of the energy/oil/gas industry would consider changing
96% of respondents from the distribution and transport industry want to be able to use their phone to upload documents
An online survey was conducted by Atomik Research among 1,001 small business owners (1-100 employees) in the United States. Atomik Research is an independent creative market research agency that employs MRS-certified researchers and abides by MRS code.
Canopy provides cloud-based practice management software to thousands of accounting professionals nationwide. The modern, easy-to-use software cuts out accounting firm busywork, improves the client experience, and helps firms stay organized and operating efficiently. Committed to data security, Canopy’s solutions are SOC2 certified and data encrypted to ensure personal information is secure. Learn more at https://www.getcanopy.com/.
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mPR, Inc. for Canopy