Branded PwC’s Next, the open platform combines multiple cloud accounting tools and integrated cloud applications all in a single ecosystem. It includes customisable dashboards that provide a holistic view of a client’s entire portfolio, including business trends, in real time.
PwC’s Private Clients’ leader David Wills said the new platform will help the firm’s clients to take full advantage of technological developments to make better business decisions.
“Making good business decisions isn’t always easy. Our clients are looking for deeper insights and the ability to get on the front foot in making decisions. They want the freedom to choose the cloud tools that best suit their needs – whatever they may be,” Mr Wills said.
“By using open architecture technology at the core of PwC’s Next, we’ve created a rich cloud ecosystem that goes beyond bookkeeping and accounting; it’s a whole of business solution.”
PwC Australia is working in partnership with PwC New Zealand on the cloud solution.
According to the firm, it will be the “richest and most diverse cloud ecosystem of any accounting firm in Australia and New Zealand, with capability to integrate with multiple general ledgers, add-ons and broader business applications”.
The firm said PwC Next has already tested integrations with the following applications: Xero, MYOB, Spotlight Reporting, Shoeboxed Australia, Ento, ezyCollect, NowInfinity, IODM and CrunchBoards. In addition, PwC’s Next will also support integrations with unique PwC business tools, such as Nifty R&D, Air Tax, Vibe and Comply First Time.
Mr Wills said that, in line with the federal government’s National Innovation and Science Agenda, the firm has chosen to build a culture around collaboration and embracing the talent and skills of Australia’s start-up community.
“We chose Sydney-based start-up Maestrano as the engine for PwC’s Next due to its highly innovative approach, agnostic capabilities and market-leading technology, which seamlessly integrates cloud applications.”
In addition to Maestrano, PwC is working with a wide range of other startups and data providers in Australia and New Zealand to solve business problems through cloud technology.
“There’s a phenomenal amount of innovation happening in the local cloud environment – having an open platform that allows us to continuously bring on best of breed solutions for our clients is absolutely critical,” Mr Wills said.
“Our work with local start-ups is a great example of how larger businesses can collaborate with agile start-ups and emerging companies to create unique solutions for the Australian business community. And by collaborating with these innovative companies, we can harness PwC’s deep industry expertise and collective experience to give our clients insights far beyond what the market is currently delivering.”
Key features of PwC’s Next:
• Customisable cloud ecosystem – accessible anytime, anywhere on any device
• Holistic view of entire portfolio, including business trends, in real time
• Ability to personalise dashboard view with information relevant to each stakeholder
• Live financial data – access to real-time data on business performance
• Automatic data aggregation – all business and financial data in one place
• Data replication – enabling instantaneous data movement between software in a totally secure environment
• Single sign-on – one password for access to all software
• Integration with a broad range of cloud-based business tools, including several PwC applications and platforms (from general ledgers to payables automation, compliance and people survey tools)
“Using PwC’s Next, our advisers will work with clients in real time on their customised cloud ecosystem to solve their unique business and financial issues, surface valuable insights and help clients realise their business and personal goals,” Mr Wills said.
Blockchain will change business as we know it
By Jean-Marc Imbert, RSM Australia
How to build an integrated accounting and financial planning firm
By Greg Holman, GPS Wealth
Is Australia actually open for business?
By Greg Travers, William Buck