Chennai-based Zoho has launched a free and-to-end practice management solution, Zoho Practice for chartered accountants.
The company said in a statement that the newly launched product will provide accountants a one-stop solution to streamline their firm's workflows, and seamlessly collaborate internally and with their clients. This empowers them to offer more value-added services and grow their own firms.
"Over the last 15 years, we have gone from offering an invoicing solution to a suite of products, and now we have evolved into a comprehensive Finance Platform, powered by a strong ecosystem. As we have grown, working closely with various stakeholders, we have also broadened our understanding of the financial ecosystem. This has enabled us to not just expand geographically, but also innovate and launch new solutions. Our aim is to help them increase productivity and achieve operational efficiency so that they can focus on growing their firm," said Sivaramakrishnan Iswaran, global head of Zoho Finance and Operations Suite.
The application also offers a few industry-first capabilities, built from the ground up for distributed firms, like advanced collaboration through chat, voice or video calls, and document sharing. It also offers AI-driven anomaly detection to identify inconsistencies in transactions, so that the issue can be rectified quickly. The practice management solution comes pre-integrated with Zoho Books (accounting app), Zoho Expense (travel and expense management app), and Zoho Payroll (payroll management app), providing a comprehensive central repository while enabling seamless interoperability between an accountant's practice and their client’s finance and operations.
The company on the user privacy concerns clarified that it does not have an ad-revenue model in any part of its business, including its free products. The company owns and operates its data centers, ensuring complete oversight of customer data, privacy, and security. More than 100 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself.