CCH iFirm Product

Presentation

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About Wolters Kluwer Tax & Accounting

About Wolters Kluwer Tax & Accounting in India

Wolters Kluwer Tax & Accounting in India provides information, software and services that deliver

vital insights, intelligent tools and guidance of subject-matter experts as well as offer subscription-

based products with high quality content in areas including direct and indirect taxation, international

taxation, corporate law and several other related topics.

• Software

- CCH iFirm

• Digital Content Portals

- Direct Tax Online

- Qtax

- Service Tax Online

- Financial Reporting Manager

- CLAonline

• Books on Taxation, Accounting, Auditing and Legal subjects

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CCH iFirm – Practice Management Software for

Chartered Accountants

• Online practice management software

designed around jobs, workflow and

resourcing.

• Developed by accountants for

accountants. CCH iFirm is used by firms

across ANZ, Singapore, Malaysia, USA,

Canada and India

• The solution:

- Keep track of all customer staff

communication

- Allocate and manage Jobs

- Measure and optimize staff productivity

- Invoice on time, recover fees

- Measure profit and plan future

assignments

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Why CCH iFirm – Do you work on Disconnected Systems

Firms use excel sheets, emails, word documents or disconnected software's to maintain client

details, jobs, staff time sheets and billing information.

The Business Challenge

• Client Information not up to date or lost with staff attrition

• Cost of doing jobs often escalates and goes way beyond the fee agreed

• Staff is underutilized or is over burdened with work

• You forget to bill your customers and are not able keep track of receivables and debtors

• Compliance issues become the norm of the day as there is no central system to record all

interactions.

• Increased cost of operations and dwindling bottom lines

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CCH iFirm Practice Manager – Overview

JOBSJob Creation

Job Allocation

Recurring Jobs

Bulk Job Creation

Automated Emails

Dynamic Job fields

Disbursements

Users & Resourcing

Security Roles

Charge out rates

User Capacity

Manage leave

Staff

Timesheets

Variance Reporting

Partners

Managers

Reports

Reporting

Contacts

Employee Reports

Profitability

Debtors

Dashboard

Workflow

Management

Resource Allocation

Job Prioritising

Email Alerts

Job Priorities

Contacts

360°Customer Information

Work In Progress and Billing

Relationships and Groups

Dynamic Contact Fields

Notes & Reminders

Clients

Prospects

Suppliers

Invoicing & DebtorsBulk Invoicing

Agreed Fee & Budget Total

Bulk Statements

AR ManagementInvoices &

Statements

Payments

Capacity Planning

Capacity Management

Resource Allocation

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Business Benefits

• Gives complete control over business operations

- Get a 360 degree view of clients, contact, jobs billing and debtors

• Improves Firm's Profitability

- Complete all jobs on time. Keep track of man-hours spent on each job and ensure

every assignment and client is profitable. Thus, improving overall profitability

• Boost Staff Productivity

- Keep track of staff performance with time sheets. Get full view on how resources

spend hours on jobs so you can coach them to optimize performance

• Reduces Staff Costs

- CCH iFirm ensures resources are never underutilized or are idle. The capacity

planning module ensures you maintain optimum staff strength throughout

• Improve Cash Flow

- Get an integrated view of clients invoiced, accounts receivables and payments

received. You will never miss an overdue invoice

• Keep Track of All Important Documents

- Be paperless. Attach documents and scanned files to each job. Documents will never

be misplaced as now you know where to find them

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Select Customers

Firm Size

Large • Sand Martin Consultants Private

Limited

• A John Moris & Co

• Khimji Kunverji & Co

• SK Patodia & Associates

• SP Nagrath & Co LLP

• SC Vasudeva & Co

• P C Ghadiali & Co LLP

• SH Bathiya Associates LLP

Medium • Radisson Consulting Private Limited

• Neeraj Bhagat & Company

• GBCA & Associates

• Sundarajan & Co

• SNR & Co

• R K Khanna & Associates

• KASG & Co

• Rao & Emmar Chartered

Accountants

• BC Shetty & Co

• GSA & Associates

• V V Kale & Co

Small • Kumar and Joseph Chartered

Accountants

• Rathi Rathi & Co

• A R Krishnan & Co

• KNAV & Co

• Y M Desai & Co.

• VM Thomas & Co.

• AKG & Co

• Agarwal Singhania & Co.

• S Mohata & Co

• M K Dandekar & Co

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B C Shetty & Co – Success Story

Company Overview

• BC Shetty & Co. is a firm of Chartered

Accountants serving various public and

private corporates, charitable institutions,

colleges, banking and financial institutions,

high net worth individuals, firms and

executives.

Users

• 75

Solution

CCH iFirm Practice Manager

• Contacts

• Job Management

• Capacity Planning

• Invoicing

• Work in Progress (WIP)

• Dashboard

• Reports

Challenge

• Multiple systems for managing client information,

tracking jobs and invoicing customers. Resources not

managed properly resulting in missed deadlines and

increased staff costs. Cost of doing jobs increased due

to mismanagement. Debtor tracking became difficult as

invoices and account receivables were not linked

Solution CCH iFirm Practice Manager• Integrating all key business functions. The modules of

Jobs, Capacity Planning, Invoicing and Reports enables

the firm to keep track of all jobs across the firm.

Resources are optimally utilized, client invoicing and

account receivables are kept under control.

Benefits

• 360 degree view of clients across contacts, jobs, billing

and debtors.

• All jobs are completed on time and are profitable

• Staff costs are kept under check and recourses are

optimally utilized

• Improved cash flow as no invoice is missed and all

receivables are tracked.

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Radisson Consulting – Success Story

Company Overview

• Radisson Consulting Private Limited is a

chartered accountancy and management

consulting firm established in 2012, dealing

primarily in consulting disciplines and

compliance services, serving a wide range of

clients from various industries. Some of these

services include - Assurance and Attestation

Services, Corporate Tax (Direct and Indirect)

Advisory, Corporate Finance, Assurance,

Governance, Risk and Compliance Services

Users

• 50

Solution

CCH iFirm Practice Manager

• Contacts

• Dashboards

• Job Management

• Capacity Planning

• Invoicing

• Work in Progress (WIP)

• Dashboard

• Reports

Challenge

• Productivity compromised due to reliance on multiple

software products to manage daily operations.

• Lack of monitoring staff and tracking jobs affected overall

productivity.

• Often suffered capacity mismatch while working on projects

leading to unnecessary delays in completion of them.

• Relationship with clients suffered due to missed deadlines,

delayed status updates and gaps in communication.

Solution CCH iFirm Practice Manager

• The modules of Jobs, Capacity Planning, Invoicing and

Reports enables the firm to keep track of all jobs across the

firm.

• Resources are optimally utilized, client invoicing and

account receivables are kept under control.

• ‘Contacts module’ ensures that client information including

prospects and leads are up to date

Benefits

• CCH iFirm has enabled the firm to manage clients, contacts,

jobs, billing and debtors through one software.

• Each man-hour has been optimized and accounted for,

resulting in 12% improvement in meeting deadlines and a

drop of nearly 20% in losses occurring due to delays.

• Client relationships are well maintained

• Overall Productivity up by 25%

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Contact - Features

• Client information including

Jobs, WIP, Billing, Resource

allocated, Notes and

communication on a single

screen

• 80+ fields to enter client

information

• Categorize clients as

prospects, leads and

customers & ‘Company Type’

as private or public limited

and more..

• Capture client interaction in

notes. Set reminders

• Current Position- Total open

jobs, AR and WIP with total

amount due

• Drill down to view open jobs

and AR

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Job Management - Features

• Add jobs individually or in bulk

• Allocate resources as Job Owner, Manager or

Articles

• Categorize each job as Audit, Vat or define

custom job type

• Automatically create and allocate recurring jobs

• Email notification on job allocation, job overdue,

job completion

• Allocate fees for each job and track against cost

incurred

• Checklists – Track activities completed

against each job

• Tag documents including disbursements

against each job

• Record communication – Notes and job

comments

• Track WIP for each job. Transfer WIP from

one job to another

• Seamless integration with contacts and

timesheets module

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Timesheets - Features

• Enter hourly time spent on

jobs

• Distinguish between

billable and non billable

activities

• Easy to fill – All fields

available as dropdown

• Track resource cost per

job, per hour

• Seamless integration with

contacts and jobs module

• Daily, weekly and monthly

view of time entries

• Variance Notifications

• Timesheet Reports

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Capacity Planning - Features

• Resource utilization planning for the firm

• Manage future jobs

• Assign jobs on the basis of available hours

• Variance and budgeted hours calculations

• Filter capacity view as per location or division

• Drill down to view each user’s or firm’s

capacity

• Seamless navigation to ‘Leave

Management’ and ‘Resource Manager’

module

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Invoicing & Account Receivables - Features

• Multiple billing entries

• Customized invoice templates

• Draft and final Invoicing

• Add multiple jobs on single invoice

• Add disbursements to invoice

• Save as pdf and email

• Manage client wise AR and collection

• Capture TDS against payment collected

• AR reduces automatically as payment is

received and punched in the system

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Reports - Features

• Dashboard – Real time and drill down view

• Over 75 reports across jobs, timesheets,

invoicing and staff efficiency

• Mark as favorites for easy access

• Save as pdf & export to excel sheet

• Configure custom reports