Can you describe your business in 100 words or less? How is it different from competitors?
We are the leading provider of online, virtual accounting services in the U.S. We have provided top services to SMBs since 2004, operating at the forefront of accounting services and technology developments and working in conjunction with the best and brightest in the industry.
Our professional staff are fully credentialed, adhering to the highest of educational standards and maintaining established processes and procedures to ensure the integrity of our reporting and services delivery.
As the 2014 Gold Stevie Award winner for Company of the Year, Professional Services, we provide the very best services and expertise.
Where is your company located? Are your clients based in the same region?
Our company is headquartered in Pompton Plains, New Jersey but our employees are located throughout the United States.
We have clients throughout the United States as well as abroad, where we service the U.S.-based subsidiaries of foreign entities.
We specialize in servicing established businesses with between $1 million and $25 million dollars in annual revenue.
Tell us a little bit about yourself and your team:
Bill Gerber and I co-founded AccountingDepartment.com in 2004. Since then we have grown strategically and organically, adding skilled bookkeepers, controllers and additional professionals along the way. In 2008 we added a third Director, Kris Merritt, and our three person team has led the company to grow to unprecedented heights–both in our capabilities as well as our size and growth rate.
We have very comprehensive growth plans and high standards for new additions to the team. Every bookkeeper holds multiple industry credentials and professional designations, making us one of the most professional teams around–and with 70+ team members, we are poised to grow even faster now.
Tell us a little bit about your cloud services and clients:
We specialize in providing online accounting, bookkeeping and controller services to established businesses with between $1 million and $25 million in annual revenue. We are industry agnostic so we are able to serve clients from all industries–but we are especially well-suited for clients interested in leveraging advanced accounting technologies and comprehensive services.
What cloud applications do you use in your accounting practice?
We don’t use any applications exclusively in order to ensure we are fulfilling our obligation as client advocates rather than technology partners, however, we do actively use and review all accounting technology platforms as they are needed and available.
Some of our current favorites include TSheets, Bill.com, Nexonia, ICAT (for our DCAA complaint clients), Qvinci and Tallie.
Of course, we also work extensively with QuickBooks Online and QuickBooks Desktop, both Premier and Enterprise (hosted on our remote servers, accessible from anywhere for our clients).
What are the FAQs that clients have regarding your cloud services?
The most frequent questions revolve around:
- Data security
- Technology integration
- Reporting capabilities
As the general business community has become more tech savvy, we have found that most security questions are fairly routine and more focus is paid to exploring programs that may work together or advanced customizations that can essentially do whatever the client dreams of in their reporting. And of course, one of our favorite things is finding solutions to these kinds of questions.
What are the biggest challenges that you experience when providing cloud services?
A previous challenge was having clients understand how online accounting services and cloud applications are able to provide the same or better functions and benefits as their standard brick and mortar accounting services solutions. But this has become less of a challenge as the world has grown more accustomed to outsourcing non-core competencies. In fact, we find now that many of our clients weigh online accounting services just as readily an option as they do all others.
What are the biggest benefits that you experience when providing cloud services?
Because we aren’t tied to local capabilities, on-site requirements or desktop solutions, we’re able to source the very best to provide services. This includes employees, programs and even workflows. The benefits are really endless because if we can think of another “better way”, we can ultimately find a way to create it.
What advice would you give to other finance professionals that are on the fence – deciding whether to get into cloud accounting or not?
I would recommend taking a hard look at the way the industry is evolving. There isn’t really much of an option when you consider the changes over the past five years and what is likely to come down the pipeline.
Where do you see your firm & the cloud accounting industry going in the next 5 years?
The sky is really the limit and I imagine that 5 years from now the industry will look entirely different. But I think a greater emphasis will be on fully functional mobile computing or even in some kind of wearables. When business owners need a snapshot of their financial picture and the ability to make critical decisions on accounting data, having the information at their fingertips is the difference.