This engagement tracking and payment processing solution was designed for and by CPAs. SaaS startup Engage is an online platform and a "practice management application for accountants." This makes it easy for them to monitor engagements and receive payments online.
The new business productivity venture is also a way to create structured professional letters for particular accounting and tax services rendered. Engage draws from niche legal and regulatory knowledge to generate professional client engagement letters. This makes it easy to set up new client agreements and have them paid right away (fees are paid upfront by clicking a box).
This payment processing solution is an example of how drafting can be painless and how regulation compliance can be built in.
Key Themes Behind This Trend
- Engagement Tracking
- Opportunity for automation and streamlining of client engagement tracking for accountants.
- Payment Processing
- Potential to simplify and expedite the payment collection process for accounting professionals.
- Letter-drafting Automation
- Disruptive innovation opportunity in automating the creation of professional letters for accounting and tax services.
Where This Applies
- Accounting
- Accounting industry can benefit from technology solutions that improve productivity and client servicing through engagement tracking and payment processing automation.
- Software as a Service (saas)
- SaaS providers have an opportunity to cater to the accounting industry's needs with online platforms and practice management applications.
- Legal and Regulatory Compliance
- Innovative solutions that leverage legal and regulatory knowledge can enable automation and risk mitigation in the accounting sector, particularly in letter-drafting and client agreement processes.
