A New Brunswick accounting firm has been recognized as an industry leader in the United States and Canada for adopting some of the most innovative new accounting technology.
Accounting and advisory firm Teed Saunders Doyle won top honours January 15 at the annual Xero Americas Awards 2018 in Santa Fe, New Mexico, taking home the Emerging Partner of the Year award.
Xero, a global small business accounting platform, has more than 100,000 business advisors worldwide as part of its network. Award winners were judged across a number of criteria including innovation, ability to boost productivity and provide client solutions, strong marketing strategies, certification, and usage of cloud technology tools to provide value to small business customers.
Teed Saunders Doyle started onboarding their clients onto Xero’s platform 10 months ago with a high rate of success.
“Normally what happens in bookkeeping is the business owner purchases something, they sometimes lose the receipt, and it’s hard to keep track of everything,” says TJ Smith, a partner at Teed Saunders Doyle. “It gets touched six or seven times by the owner and the bookkeeper in order to enter it in to process the accounting properly for the business. What Xero and some of these online platforms do is really simplify the process.”
Basically, new cloud-based platforms like Xero are helping relieve the things small businesses dread most about accounting.
“What these platforms are supposed to do is take the time from doing this bookkeeping stuff back by two-thirds,” says Smith. “Computers can do a lot of the works humans can do around these simple bookkeeping functions.”
Using the Xero platform has also given Teed Saunders Doyle the ability to check with their clients more frequently throughout the year.
“A lot of people wait until the end of the year to find out how they did. But this software allows stuff to happen on a daily basis. It also allows us time at the end of the month to sit down with them and go through finished information,” says Smith. “We can talk to them about how they did last month as opposed to waiting until the end of the year. It does a lot of different things for the business owner.”
This year’s Xero Americas Awards 2018 judging panel included key executives from Xero and guest judge Ranica Arrowsmith, technology editor at Accounting Today.
“Technology provides the power and tools for today’s accountants and bookkeepers to become true business advisors. With the assistance of cloud technology, advisors can help small business owners ease pain points and empower them to achieve success,” said Keri Gohman, president of Xero Americas.
“Our winners stand out for their commitment to providing small businesses with the right support and strategic guidance, and we are delighted to award Teed Saunders Doyle with this honour.”
For Smith, receiving the award means recognition that embracing the industry’s new technology is the way to go.
“We jumped in head-first and we said, ‘look, this is impressive and we got to jump on it.’ For us, it’s a validation that what we did was a good thing, because we spent a lot of time and energy on this,” he says. “It shows that we’ve done a good job. We jumped in quick and got a lot of clients on and Xero has recognized that we’ve done a good job with ramping this up very quickly.”
This story was sponsored by Teed Saunders Doyle.