29th January, 2021
Accountants spend a lot of time helping clients get paid, but they often struggle to do the same. Now, Cerebiz is joining the dots and reducing their debtor days by 20-plus.
It’s a long-running cliche: the builder with a dilapidated house, the mechanic with a bomb in the garage. Sometimes, just because you work in a given profession doesn’t mean you practice what you preach.
It’s the same for accountants — we know you struggle to find time to work on your own business, because you spend so much time on your clients’.
To help with this, Cerebiz* has developed a platform that acts as an integrator between practice management and client accounts, meaning accountants have an enhanced ability to improve their own cash flow and business performance, while also lifting that of their clients as well.
Founded in 2009, the integrator offers powerful business intelligence solutions that can take practice management software like MYOB’s Accountants Enterprise and Accountants Office, and integrate them with the likes of AccountRight and Essentials.
Even better, Cerebiz drives debtor days down for accounting practices by 20 or more, while also saving 10-plus hours a month in admin time.
The clear benefit of using Cerebiz for an accounting practice is that it reduces debtor days through automated cash collection processes and more payment options for debtors such as providing a payment gateway on your website where clients can easily select the payment method and invoices they want to pay.
This is a key area of consideration for many accountants, said senior product manager for MYOB, Tim Courtney.
“We all know a business owner that needs to up their game when it comes to charging out and collecting.
“One of the key ways we see accountants lowering their debtor days is in adding more payment options, which gives debtors fewer excuses when it comes to settling the tab,” he said.
Once you’ve looked at speeding up the time to get paid, it’s time to consider how your Practice Manager solutions can better integrate with client accounting — with Cerebiz, the burden of admin in this space is greatly reduced.
“Seamless, two-way integration between practice management and client accounting means there’s no double handling of data,” said Cerebiz spokesperson, Sophie Shornikov.
“By automatically updating invoices and payment receipts in both systems, Cerebiz significantly reduces admin time — a saving of 10-plus hours per month for our clients.”
Going further still, Cerebiz also offers accounting users real-time analytics via its ‘Power BI’ dashboard, with forecasting and contingency modelling included.
“Integration with MYOB solutions streamlines monthly, quarterly and yearly budgeting and reporting by eliminating the need for spreadsheets and time consuming manual data consolidation,” said Shornikov.
And that means accountants using Accountants Enterprise or Office who integrate their client accounting software via Cerebiz will have the ability to practice what they preach.
For Trevor Harrison, partner at MRL Group, Cerebiz has provided just what his practice needed to get to the next level of accounting services.
“We’ve been able to shift our service provision to much more of an advisory model and, thereby, that can only be good for us from an economic point of view,” he said.
Want to see Cerebiz in action? Contact your MYOB sales specialist for a personalised practice assessment and see how this solution can benefit you.
*The cash flow management, business performance solutions and integration products and services are provided by a third party supplier, Cerebiz Pty Ltd (Cerebiz). MYOB does not provide any recommendation or opinion regarding Cerebiz products or services and is not acting on behalf of Cerebiz. MYOB has a referral agreement with Cerebiz under which it earns a commission on any referrals to Cerebiz