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We started to us Bankstream about two and a half years ago because we wanted to cut
down on the administrative side of accounting, we wanted to minimise the money that clients
were spending on bookkeeping so we could offer more support as business advisors.
We're not dependant on the client to provide that information, it comes automatically as a data stream,
so there is very little chasing. About 70% of the routine stuff going through
a cash business can be memorised, and allocated correctly as well.
For a new client the percentage saving in the year end process I would say Bankstream
helps us to deliver a 60% saving, for an ongoing client I think we're cutting out 80% of the time needed.
It's been fairly core to us in terms of taking on smaller clients and wrapping up year-end.
I would recommend Bankstream to other accountants and have been.
I do think it's a really useful tool, and I think it's a cost effective tool as well for clients.