What is an App Stack for accountants? image

What is an App Stack for accountants?

What is an App Stack and why do accountants need one?

onMonday, 1 June 2020

What is an App Stack?

The term App Stack generally has one of two meanings for accountants:

  1. A suite of apps that you choose to use to provide services across your client base.

  2. An industry specific suite of apps that are often integrated to provide a system that supports a client’s business in carrying out one or more processes effectively and efficiently.

You could say that the first is simply the second for the accountancy industry. You provide services, you have processes for providing them, and apps help you to provide them better and more profitably.

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Our App Stack Builder allows you to create your practice app stack, and client or industry specific app stacks.

How can I use apps to provide services?

These are some typical services that apps can support you in offering, split between data processing and business advisory services.

Data processing services:

  • Bookkeeping

  • Payroll

  • Other data processing (i.e. timesheets and non financial data)

Business advisory services:

  • Management reports

  • Job costing

  • Cash flow forecasts

  • KPI reports

  • Funding

  • Outsourced credit control

  • Outsourced finance function

The reason for the split is that the quality of all of these business advisory services rests on good quality (accurate/timely) information from data processing services.

In general the more time sensitive the provision of advice is, the greater the need for cloud accounting and automation of the data processing.

App Advisory Services

If you’re offering App Advisory Services you are looking at a business’ problems, understanding the processes that are causing the problems, and then using your knowledge or research, to ascertain whether apps, or integrated app stack solutions, can be used to solve those problems within the budget constraints of the business. You may then offer setup, training, and support services related to the app(s), or app stacks.

Read more about App Advisory Services.

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