Enrico Palmerino, Founder & CEO
Bookkeeping has always been a tedious task for accounting firms, requiring a significant amount of resources and time that can rather be invested in other crucial operations. However, since bookkeeping requires utmost accuracy and precision, accounting firms have largely been managing it manually. But not anymore! Botkeeper, a provider of an automated bookkeeping platform, is changing these dynamics efficiently and effectively, enabling businesses to manage bookkeeping using an advanced platform.
Botkeeper is an innovative solution that has earned the faith of a large group of accounting firms over the years. It eliminates the need to hire professionals for bookkeeping and train them, which often takes several weeks. On the other hand, accounting firms can simply sign up for Botkeeper and be up and running within a few hours. To start using the solution, a firm needs to connect its clients’ QuickBooks or Xero accounts to Botkeeper, which will then access those client accounts and obtain the data for bookkeeping. “The next step is to connect the bank and payroll accounts along with other financial data sources that clients might have,” explains Enrico Palmerino, the founder and CEO of Botkeeper. All the bookkeeping work thereafter is carried out automatically by the platform and overseen by senior-level accountants, assuring significant benefits with regard to scalability, cost savings, and accuracy.
No less than a breakthrough in the area of bookkeeping, Botkeeper enables businesses to focus on other core tasks such as advisory and consulting to increase their overall revenue.
The solution serves as a consolidated financial hub allowing businesses to pay bills, manage financial documents, view reports, upload receipts or any other paperwork, maintain supporting documentation, and track accounts along with workflow documentation. It also answers any questions that its clients’ customers might have about bookkeeping. The fully-customizable dashboard on Botkeeper further makes it effortless for users to obtain real-time information about expenses and other relevant metrics. The company also offers the solution in the form of a mobile application to make it more flexible for clients to keep track of bookkeeping activities and manage their businesses on the go. These capabilities have proved significant for Botkeeper’s clientele in many ways. A testimony to this is the company’s association with a firm that managed bookkeeping manually. While the client tested Botkeeper with five accounts initially, they now have 42 customers running Botkeeper. “Since getting started with us, this Partner has been very excited about how much our solution benefits them. Their margins have increased, and the most important factor is that they no longer need to micromanage this part of their business. They sleep better with the assurance that their clients’ bookkeeping will be done accurately and correctly,” adds Palmerino.
Botkeeper eliminates the need to hire professionals for bookkeeping and train them, which often takes at least one to two weeks
One of the key differentiators of Botkeeper is that it makes people more human, allowing them to do things that are more relevant. In Palmerino’s words, Botkeeper is allowing business owners—in accounting and other industries—to be more human and free up the time that would have been dedicated to labor-intensive manual work. It enables them to run their business more efficiently. Further, having closed a recent funding round with a large Boston-based technology company, Botkeeper is all set to add new features and functionalities to its platform. The firm also plans to develop a consolidated functionality within Botkeeper to make it easier to approve and pay bills quickly and efficiently.