Bookgel, a cloud-based value-pricing app for accountants, has begun beta testing and hopes to raise money for development costs by starting a crowdfunding campaign Tuesday.
The app uses artificial intelligence to guide accountants through a structured process to get new business and reprice their existing clients. It prompts accountants to ask specific client questions, uses a proprietary algorithm to recommend an optimal fee to charge clients, and suggests how to close and upsell on services (including what to say and when) and then sends the engagement letter for e-acceptance and cash flow.
The
“Over my years of working with thousands of accountants it became obvious that we needed to build a bridge between the juncture from when a new client inquired to the juncture of closed business and cash in the bank,” Ratafia said in a statement. “Some firms that were experienced at pricing and closing were getting five to 10 times the fees for the exact same services. Now all firms can get the right fee, without needing to take classes on selling or learning value pricing. Bookgel does all the heavy lifting.”
Ratafia and Howard aimed to make the sales process easier and began developing Bookgel about three years ago. A number of accountants have been testing the app with the goal of increasing their revenue, but more development work remains so the partners have launched a crowdfunding campaign, promising a discount on pricing for accountants who volunteer as early adopters. So far, they have reached nearly $30,000 toward their $50,000 goal in the first day of the 45-day campaign.
The algorithm in Bookgel leverages AI for its suggested value pricing and relies on 50 different factors that check on over 100 data points, including niche, entity type, location, condition of books, complexity of work, revenue and upsell opportunities.
The app prompts accountants to ask various questions of potential clients to determine how much should be charged for services. Over a screen share connection, clients can view how much they can potentially save by working with the accountant before seeing the offered engagement price. The accountant can then display to the client a personalized subscription plan — including the projected savings — and send a proposal. Once the deal is signed, the app will prompt the client for a payment that will go directly to the accountant’s bank account.
