If your firm offers audit insurance to clients then you are almost certainly missing out on substantial income by not bringing the tax audit protection service in house.
The idea of offering service cover instead of insurance to your clients is not completely new. Many accounting practices are doing just that. Now, with the help of the smart fully automated Apxium Protect Audit Safe service you can easily and effortlessly bring the audit service offering in house, knowing it is a much better outcome for both your clients and your firm.
Many accounting practices have told us that they find the annual audit insurance offer process onerous and unnecessarily cumbersome. Apxium has worked with accountants to fully automate the process and make your and your staff’s job very easy, every time.
You no longer need to share your client relationship with a third party, or endure the administratively time consuming claims process. With Audit Safe you keep your client relationship and the claims process is entirely run by your firm. The client is still protected, gets a deduction and receives a much better service offering to boot!
If you are currently utilising audit insurance you know exactly how many of your clients are accepting the offer, how much insurance premium is collected by the audit insurer, how much of that goes to you in the form of a fee and how much you claim annually against any work done for audit purposes.
By way of comparision let’s look at the experience of an actual firm and compare the two financial outcomes (insurance vs Audit Safe).
This firm just made an additional $40,960 while their clients got the same level of certainty and cover!
The mathematics of the proposition are simple. There is a large amount of value accruing to a third party via insurance premiums paid by YOUR clients.
Apxium Protect Audit Safe is the solution you need to both offer better service to your clients, significantly lower your administrative burden and substantially increase the benefit to your firm.
Apxium are experts at data integrating with accounting systems, as evidenced by their suite of products that are delivering substantial financial and operational savings while significantly improving your firms debtor days.
Audit Safe is fully automated, will integrate with your underlying accounting system and pre-populate your cloud dashboard with all your clients, your client groups, and SMSF's. Additionally Audit Safe will pre populate the amount of cover and client pricing; this is easily edited by your administration team.
There is no paperwork no manual invoicing and if any clients happened to get audited, which we know is quite a rare occurrence then there's no claims process and it's your clients and therefore you can manage their experience.
Via Audit Safe you will grow your income stream while your clients will get exactly the same cover they had before and they will get a higher level of care because you are now the one offering them the service.
The implementation of Audit Safe couldn't be simpler, Apxium will integrate with your underlying invoicing system, build out your dashboard and present your data to you in order for you to finalize your offer to your clients. Once this is done we will manage everything from there.
Contact us today and learn how accountants are disrupting audit insurance while at the same time offering a significantly better service to their clients and improving the bottom line of their business.