PlanetVerify helps accountants collect and share documents with clients in a fast, secure, and compliant way.
In the fast-paced world of accounting, efficient and secure document management is crucial. PlanetVerify emerges as a leader in this arena, offering unparalleled services in customer onboarding, document verification, and workflow automation. Our platform is specifically designed to address the intricate needs of accountants and financial professionals, ensuring top-tier security and compliance with KYC, AML, and GDPR protocols.
Secure file sharing for accountants is an ongoing challenge. Many accounting firms are still reliant on legacy and manual processes such as email and in-person file sharing and collection. These legacy file sharing methods can lead to a range of problems for accounting firms:
Security: Sharing sensitive client files via email is high risk from a security perspective. In fact, research has shown that 90% of all cyber attacks occur via email. Even if you follow all security best practices at your accounting firm, you are leaving the door open to attacks like ransomware and trojan horse viruses. The security of your accounting firm is only as strong as your weakest link – and if you are still using email and other legacy tools for sharing and collecting client files, then you are playing a high risk game with both your firm’s and your client’s files.
Compliance: When it comes to secure file sharing for accountants, compliance is a growing concern. Regulations like GDPR and similar regulations in other jurisdictions means accounting firms have to be careful how they collect and manage clients’ personally identifiable information (PII) also referred to as personal data. If you are still collecting and sharing sensitive client files via email, you might be leaving your firm open to fines and reputational damage around GDPR non-compliance.
Productivity: One of the biggest issues with using legacy and manual processes for sharing files with clients is the sheer amount of time it takes to do so. Accounting firms collecting and sharing files with clients via email are spending hours and hours each week manually uploading, downloading, and searching for files. This process is time-consuming, cumbersome, and only grows more inefficient as you scale your business.
For the modern accounting firm, secure file sharing essentially boils down to finding a way to share and collect files from clients in a private, data compliant, and fully encrypted way. Secure file sharing for accountants should protect confidential and sensitive client information, while also minimizing risk and securing the communication from unauthorized users.
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Implementing a secure file sharing system comes with many benefits for accounting firms around security, productivity, compliance, reputation, and client experience.
1 – Client Experience – Once you have implemented secure file sharing systems and processes in your company, you can start to improve the client experience. The modern client does not anticipate ad hoc communications via email, phone, and in-person meetings to share files and information. Instead, clients today expect on-brand, secure, and on-time file sharing processes. One of the easiest ways to disappoint a new client is to expose a lack of professionalism around the way sensitive files are shared. Conversely, sharing and collecting files via highly secure channels can quickly highlight how seriously your firm takes the security of your client’s files. At a time when clients are growing more security conscious, it is important to put your best foot forward in terms of file sharing.
2 – Data Compliance – The leading secure file sharing software solutions also come with the added benefit of helping your firm meet compliance regulations like GDPR, CCPA, and many others. Once again, clients today can be quite sensitive about the way their personal data and files are managed, so sharing and collecting files from them in a compliant manner is another way to impress a new client. On the other hand, using tools like email to share files with clients will most likely open the door to some questions around the way their personal data is being managed.
3 – Reputation – If your firm does not share client files in a highly secure way, then your reputation will suffer. Firstly, it will leave clients unimpressed, and secondly it will raise the potential for cyber attacks which could leak sensitive client information into the public domain – shattering your firm’s hard-earned reputation in the process. Instead, if you manage client files in a way that is secure and visibly so, then your reputation will only be enhanced by clients who know your firm is taking the utmost care of their sensitive files.
4 – Productivity – Secure file sharing systems can also bring major internal productivity benefits to your accounting firm. The leading secure file sharing software solutions can provide you with automation tools to set up workflows around the more time-consuming elements of file sharing such as collecting new client documents and information. Instead of spending hours per week collecting documents in an ad hoc and unsecured way, your team can focus their time on core business activities.
5 – Security – Last, and most obviously, the biggest benefit of secure file sharing solutions for accountants is the elimination of security risk around file sharing. Legacy file sharing methods such as email and even the more basic client portal offerings are often used as entry points for would-be cyber attackers. Attachments from relatively unknown parties are another major risk. By moving to a secure file sharing system, you can achieve some major security wins and very quickly.
With over 120,000 users, PlanetVerify is used by accounting firms around the world to collect, manage, and share sensitive client files and information.
As you weigh up various file sharing software solutions, there are a number of key questions to bear in mind. Questioning vendors along the following lines can help you to identify which file sharing solution is most suited to your business.
How does your solution keep client documents secure? The answer you are looking for here is full end-to-end encryption. Steer clear of solutions that still require you to collect client documents via email before manually uploading to a client portal, you will only be creating extra work for your team and still be open to the email-based security risks we have already addressed. The leading file sharing software solutions in the market today adhere to the highest possible security standards like ISO 27001.
How does your solution help us meet compliance requirements? The most progressive solutions available today will come with compliance built into the system. You should question vendors on how they can help your firm meet compliance requirements like GDPR, CCPA, and others.
Does your solution integrate with our existing systems? Ideally, your file sharing system should integrate easily with your key enterprise systems.
How long does it take to implement your solution? There are some amazing systems out that that come fully loaded with many complex features – but, you must remember, unless a system is widely adopted within your organization – then it will ultimately be a failure. Secure file sharing systems that are intuitive and can have users up and running in a matter of hours – and not days – have the best chance of succeeding.
Embrace the future of accounting with PlanetVerify. Our commitment to delivering a secure, efficient, and compliant document management system makes us the perfect partner for your firm. Join the ranks of innovative accountants who have streamlined their operations and elevated their client interactions with our advanced solutions.
A better experience for your clients, fewer headaches for your team. You’ll be set up in minutes.
FAQ Section
1 – How does PlanetVerify ensure the security of financial documents?
PlanetVerify employs advanced security protocols, including robust encryption and adherence to GDPR standards, to protect sensitive financial data shared and stored on our platform.
2 – Can PlanetVerify’s platform be customised for different accounting firms?
Absolutely! Our platform offers customizable client portals that can be tailored to match the specific needs and branding of your accounting firm.
3 – In what ways does PlanetVerify help with regulatory compliance?
We are committed to compliance with KYC, AML, and GDPR regulations, ensuring that your document management processes meet all legal and professional standards.
4 – What sets PlanetVerify apart from its competitors?
Our unique selling points include a comprehensive approach to document profiles, a vast global network, customised client support, and a focus on GDPR compliance and secure data handling.
5 – Is there a trial period available for new PlanetVerify users?
Yes, we offer a two-week free trial period, allowing you to experience the benefits of our platform without any initial commitment.
6 – How does PlanetVerify improve the efficiency of document management?
Our platform streamlines administrative tasks through automated workflows, enhancing efficiency in document collection, verification, and client communication.
7 – What kind of support does PlanetVerify offer to its clients?
We provide extensive support including personalised assistance, training sessions, webinars, and a responsive customer service team to ensure smooth integration and usage.
8 – Are there different pricing options available for PlanetVerify services?
Yes, our services are competitively priced with a variety of options to suit different firm sizes and needs, ensuring affordability without compromising on quality.
9 – How accessible is document uploading and retrieval on PlanetVerify?
Our platform allows for easy and secure document upload and access through user-friendly, customizable client portals, accessible anytime and anywhere.
10 – How does PlanetVerify prepare firms for audits?
Our system organises documents effectively, maintaining high levels of accessibility and traceability, making audit preparation more straightforward and reliable.
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