FinTech is changing the financial profession and My Firms App is putting Accountants & Bookkeepers first
You’ve probably seen the word ‘FinTech’ thrown around in industry circles and dismissed it as another buzzword, but FinTech is actually an important part of the finance industry. FinTech is a contraction of Financial Technology, part of the finance industry that focuses on utilising technology such as the internet, mobile Apps and cloud software to make financial services more efficient and convenient for the user. The industry has been growing rapidly in the last couple of years, with global investment in FinTech increasing by more than 1200% since 2008, with most of this going to ‘Emergent FinTech’, firms that aim to change the current finance industry with new technology.
MyFirmsApp is one of these Emergent FinTech companies. MyFirmsApp specialises in producing Apps for accountancy and bookkeeping, legal firms and financial advisors across the Anglosphere. These Apps that we develop are designed to protect your firm’s clients from competitors and provide services that weren’t possible a couple of years ago.
My Firms App: a Story of Growth
My Firms App opened its doors in January 2013 and quickly established itself as a market leader in the business App ecosystem by acquiring 100 satisfied clients in the UK by September 2013. 3 years later, MyFirmsApp serves over 600 happy clients worldwide, whose Apps reach 130,000 end users. Our App renewal rate reaches 97% across the board and our tech support rating hit 94% last month. Our customer service team never receives a bad rating!
How have we gotten to this point? The simple answer is that there wasn’t an App for Accountants and Bookkeepers as versatile and powerful as the one we develop at a reasonable price. Many accounting firms tried to build their own Apps and ended up turning development into a too-big-to-fail fiasco, and many accounting firms didn’t have the upfront cash necessary to embark on its own App project. As a result, getting your App developed by another business was a tempting offer.
My Firms App is using FinTech to put accountants and bookkeepers first
Our Apps are designed to give as many advantages and benefits possible to the firms that commission our App. The most important of these benefits is the integration of all the software your clients use into the App. Services like Kashflow, FreeAgent, DocuSafe, DropBox, Xero, Sage, Receipt Bank, QuickBooks and many others can be added to your firm’s App. Putting all these services on your branded App reinforces and protects your relationship with your clients.
The second is invaluable for both clients and your employees. Your App has full support for Push Notifications, a highly effective communication tool that can be easily deployed to send important information to your clients’ and employees’ phones. Other frequently used features of the App include a precise GPS tracker, receipt manager and income tracker, 16 finance and tax calculators, a comprehensive breakdown and analysis of each UK Budget, a list of tax tables as well as the latest tax and finance news, all on one Smartphone screen.
All of these services and features can be downloaded from the App store. The App itself is free for end users, which means that anybody surfing the App store looking for an Accountant’s App will be able to download it and be introduced to your firm. It’s entirely possible that this user may become a full-fledged client afterwards; we’ve heard a lot of these stories from our clients!
The conclusion to all this is that by commissioning an App with us will put your firm to the forefront of the industry: only 2% of UK accountants have their own App, positioning your firm as an innovator and giving you that essential advantage over similar-sized firms. MyFirmsApp is all about putting accountants first with our unique FinTech solution.
It’s considered fully compliant by the ICAEW and is the only Accountancy App in the world that is recommended by them. MyFirmsApp has also been recommended, promoted or endorsed by ACCA, CIMA and the ICPA. Fully integrate your client’s favourite software such as Xero, FreeAgent, DocuSafe, DropBox, Sage One, Receipt Bank and many others. Give your clients an unparalleled service and the much-needed edge over their competitors, protect your clients from the changes in the tax system and unleash a powerful new form of marketing and communication with your clients, all from one amazing App.