Over the past decade, I’ve worked diligently to create systematized, scalable business models for a number of niches. Now that I have done it several times, I have the system locked down…including the accounts payable portion of my tech stack. This hasn’t been a quick process because I wanted to make sure I had the right foundation to serve a variety of niche clients. Having this in place is what makes it easy to scale an accounting firm and increase your revenue stream.
With so many A/P solutions available, I really had to do my homework and after I did, it became clear to me that Melio would provide my accounting firm and my clients the best functionality and financial fit (it’s free to both you and your clients). After all, if you’re looking to streamline and scale your firm operations, the last thing you want to do is increase overhead in the form of technology expenses.
Want to learn more about an A/P solution that you can leverage to grow your firm? Register Today for Sharrin's webinar on May 5 - Leverage the Power of a Scalable Payables Platform
In addition to the non-existent fee structure, there are several other key reasons why Melio is such a great accounts payable tool and provides a superior accountant partner experience, one that supports scaling your services. Here are my top five evaluation criteria for an automated accounts payable tool, of which Melio checks every one:
1. The ability to sync with QuickBooks Online and other accounting software. As a QuickBooks ProAdvisor and owner of several bookkeeping and accounting firms, this is absolutely critical. No matter what accounting solution you use you need an automated payments platform that eliminates any manual data transfer.
2. Intuitive to use for team members and clients. When it comes to scaling, you have to have repeatable onboarding, workflow, and reporting structures for both your team and your clients in order to grow the number and complexity of clients you serve. For your team, accessibility and visibility are critical, and
3. Cost efficiency. As I mentioned before, Melio is completely free for both you and your clients, yet it offers advanced features which really help us ensure we have the most accurate, automated, and easily accessible accounts payable platform, and process available, all while not adding a single cent to the bottom line.
4. Security of data and payable processes. While automating the AP process does increase security by eliminating a significant amount of human error, if your accounts payable technology is not built to protect your firm and your clients you do not want to use it and it will make scaling your firm risky indeed. With Melio, there’s no worries whatsoever about my data or my clients’ data because the platform has top level security features plus amazon support to help you throughout the process..
5. Flexibility to grow and go global. When your mission is to grow your firm and scale a set of standardized services, they sky is the limit and business becomes borderless. You need an accounts payments platform that will keep up! in my case, Melio fits the bill perfectly.
Building a reliable tech stack that enables your accounting firm to grow and scale in your selected niches isn’t difficult, once you have the right system and technology infrastructure in place. Having a reliable, affordable and fully automated accounts payable platform like Melio will help you grow faster with a better financial fit, all the necessary functionality, plus the ability to take your payables process global, too.