# Exact launches Practice Management solution to help transform accountants into trusted business advisors Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2016-11-11 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Revolutionise Your Accountancy Services with Cloud Meta Description: Empower accountants to provide rapid, in-depth advisory service and beat the competition with Exact's new Practice Management solution for Exact Online. URL: https://financedigest.com/exact-launches-practice-management-solution-to-help-transform-accountants-into-trusted-business-advisorshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/business-people-in-officeb-1736844385187-compressed.jpg) _Integrated client collaboration in the cloud will allow accountants to provide rapid, in-depth advisory service and beat the competition_ Modern accountants are looking for cost-effective ways to differentiate themselves in an increasingly challenging and crowded market. Pure-play bookkeeping is no longer enough on its own to attract and retain new business. Today’s new accountants need to integrate with their clients’ systems and provide added value through [business advisory services to stay ahead of competition and drive business value](https://www.financedigest.com/three-ways-data-unlocks-business-value-for-financial-organisations.html "Three Ways Data Unlocks Business Value for Financial Organisations ") for customers. To help accountants achieve these goals, Exact today announced the launch of its new Practice [Management solution](https://www.financedigest.com/quality-and-compliance-management-solution-market-to-rise-at-a-high-cagr-of-9-4.html "Quality and Compliance Management Solution Market to rise at a high CAGR of 9.4%") for Exact Online. A cloud-based 360-degree platform, Exact Online provides accountants with the tools and insights [needed to help clients to grow their business](https://www.financedigest.com/pstn-isdn-switch-off-what-businesses-need-to-know.html "PSTN/ISDN switch-off: what businesses need to know "). The system’s client collaboration platform enables accountants to manage bookkeeping, billing, CRM, workflow and [document management](https://www.financedigest.com/document-management-software-market-to-expand-at-a-value-cagr-of-12-3.html "Document Management Software Market to expand at a value CAGR of 12.3%") all in one place and to have a full 360°-degree view of their clients. By quickly plugging in to clients’ systems, accountants can spin up customer advice dashboards that provide deep insight into each [business](https://www.financedigest.com/business-finance-the-fintech-evolution.html "Business finance: the fintech evolution"), enabling accountants to provide advice that goes far beyond basic financials and fulfil a more trusted business advisory role. This role is driven by Exact Practice Management’s ‘management by exception’ philosophy. Intelligent analytics capabilities scan client systems for any anomalies in client’s performance based on financial and [operational](https://www.financedigest.com/stellantis-reshuffles-european-financing-operations-through-new-jvs-with-banks.html "Stellantis reshuffles European financing operations through new JVs with banks") key performance indicators and flag these to users. This enables them to quickly take action before a problem becomes too far advanced, without having to manually monitor [multiple data](https://www.financedigest.com/how-to-navigate-multiple-data-privacy-regulatory-frameworks.html "How to navigate multiple data privacy regulatory frameworks") streams. The solution also helps to streamline administrative tasks, increasing the amount of time available for more relevant activities. For example, [accountants can automate](https://www.financedigest.com/being-nimble-and-responsive-in-banking-and-business-has-arrived-thanks-to-accounting-automation-technologies.html "Being Nimble and Responsive in Banking and Business Has Arrived, Thanks to Accounting Automation Technologies") hours and billing, allowing for more accurate invoicing, instant overviews of work in progress and budget monitoring. Similarly, by merging their files into Exact Practice Management, [users can link individual documents to active assignments and jump between them on demand](https://www.financedigest.com/catharanthine-market-2022-research-on-user-demand-size-applications-key-players.html "Catharanthine Market 2022 Research on User Demand, Size, Applications, Key Players:"). Exact Practice [Management’s cloud](https://www.financedigest.com/education-security-in-2022-hybrid-cloud-device-management-drives-it-challenges.html "Education Security in 2022: Hybrid-Cloud, Device Management Drives IT Challenges") platform can be accessed anywhere, at any time and from any device. This open platform can be easily connected with [third party](https://www.financedigest.com/why-a-replacement-to-third-party-cookies-is-key-to-post-pandemic-recovery.html "Why a replacement to third party cookies is key to post-pandemic recovery") programmes including working paper and tax software. In conjunction with this, Exact’s accountancy learning program provides more soft [skill training](https://www.financedigest.com/banks-and-insurers-right-to-prioritise-technical-skills-in-operational-risk-but-must-not-overlook-training-in-nurturing-talent.html "Banks and insurers right to prioritise technical skills in operational risk but must not overlook training in nurturing talent  ") on how to manage a practice more efficiently and become the business advisor clients need. “For the new breed of accountants, business insight is everything,” said Erik van de Meijden, CEO at Exact. “With Exact Practice Management, accountants can get fast, [in-depth insight](https://www.financedigest.com/acth-deficiency-treatment-market-in-depth-insights-revenue-details-regional-analysis-by-2026.html "ACTH Deficiency Treatment Market In-depth Insights, Revenue Details, Regional Analysis by 2026") into their firm’s productivity, billability and profitability. For [customers in industries ranging from professional services](https://www.financedigest.com/why-banks-need-to-embrace-ai-first-customer-service.html "Why Banks Need to Embrace AI-First Customer Service") to manufacturing and wholesale, accountants will now be able to generate intelligent, strategic insight whenever it’s needed. Collaboration and integration are the [key to success](https://www.financedigest.com/key-ingredients-to-formulate-and-communicate-a-successful-company-ethos.html "Key ingredients to formulate and communicate a successful company ethos") in the new age. Accountants [need](https://www.financedigest.com/embedded-finance-is-the-new-norm-in-banking-but-what-is-needed-to-unleash-its-full-potential.html "Embedded finance is the new ‘norm’ in banking, but what is needed to unleash its full potential? ") to make themselves more than financial bookkeepers, and with Exact Practice Management and the new advice dashboards, we’re confident they’ll be able to do just that.” Exact Practice Management is now generally available. The new advisory dashboards are in controlled release and are scheduled for general availability early [next year](https://www.financedigest.com/uaes-adnoc-to-open-swiss-trading-office-next-year.html "UAE’s ADNOC to open Swiss trading office next year"). For more details, see [http://www.exact.com/uk/practice-management](http://www.exact.com/uk/practice-management) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---