In an age of pervasive digitization, the accounting sector grapples with the challenge of integrating efficient practice management solutions into their operations. Firms are on a quest to organize and oversee their teams, clients and projects without a hitch but often can't fully get there. TaxDome, a practice management platform designed for accountants, bookkeepers and tax preparers, seeks to be the bridge to this solution. TaxDome tries to simplify the journey, so firms can manage their operations while enhancing the client's interface by converging their diverse systems, like document management, project management and client interaction, into one cohesive platform.
Founded in March 2017 by Ilya Radzinsky and his brother Victor, TaxDome was the outcome of a proprietary practice management solution initially built for a singular accounting firm. TaxDome's offerings now cover the essential workflow stages of a tax, bookkeeping or accounting firm. Features range from client intake forms and internal task management to document exchange, e-signatures and invoicing. Moving forward, TaxDome's vision continues to revolve around innovation. Their focus is not just on accommodating the present but also anticipating future requirements.
TaxDome co-founder Ilya Radzinsky talked about both the past accomplishments and future plans of the company.
How would you describe what your company does?
Radzinsky: In official terms, TaxDome is a practice management platform for accountants, bookkeepers and tax preparers. In practical terms, we help firms organize and manage their teams, clients and projects in the most efficient manner. We enable teams to succeed and provide managers with the oversight and visibility they need. Importantly, we not only focus on the firm experience but we are laser-focused on the client experience. Firms using TaxDome provide their clients with a secure, custom-branded platform that is easy to use and evokes positive associations about the firm. Apple isn't the only firm that produces smartphones, but we all know the feeling you get when you use an iPhone is different from other phones that promise to deliver similar functionality. That's what TaxDome does — we make practice management feel easy, all-encompassing and fun. From a functionality perspective, TaxDome is the operating system of a firm, replacing independent systems (like document management, project management and client interaction) and the amount of technology that firms need to manage with one unified platform. And our vision is being well received by the tax and accounting community. Now serving over 10,000 firms worldwide, TaxDome's global presence spans across more than 25 countries. The quality of our service is reflected in the industry recognition we've received. TaxDome is proud to have been named a Category Leader in Accounting Practice Management by GetApp, and consistently ranks as the top tax practice management software by Capterra. Moreover, we have been honored with the Crozdesk awards for Trusted Vendor, Quality Choice and Happiest Users. These accolades affirm our dedication to excellence and the value we bring to our clients worldwide.
What is in your product line, and what is your flagship product?
Radzinsky: TaxDome provides both the firm and the client experience. In our world view, an accounting firm should use two kinds of systems: accounting and tax tools to complete the work, and TaxDome to manage everything else. The entire workflow of a tax, bookkeeping, accounting firm or wealth manager is covered: from client intake forms, storing the information in an organized CRM, internal task management, client communication and updates, document exchange, e-signatures, invoicing, and more. And the flagship of all of this is automation, and how all of these tools tie in together. So for example, an e-signature request can trigger an invoice to be sent, the payment of which can trigger a task for an admin to e-file a return. It's all customizable for different services, different firm sizes and different business types.
What product of yours do you think should be better known among accountants?
Radzinsky: Many people read the word "Tax" in our name and assume we are either a tax preparation software or that we only provide services to accountants. Our platform is built for and designed specifically for all professionals under the "Dome" — bookkeepers, accountants, tax professionals, advisors and others.
What was the last big initiative or project your company completed?
Radzinsky: We recently finished an integration with the IRS to allow practitioners to download transcripts directly within TaxDome without having to visit the IRS website. Through our direct integration, firms can now access their clients' essential financial information in one secure platform, saving time, boosting productivity and lowering administrative hassles during the busy season. This great partnership has been very well received by our community and we're excited to deliver it. During the early access program, more than 10,000 transcripts were successfully pulled!
What is the most exciting new thing you're working on?
Radzinsky: Continual improvement is the ethos of our company. A few years ago, mobile apps were not on the list of tools that accountants were looking for. Today, they are table stakes. We are consistently investing in development and will continue to do so. In the next few months, we're going to release an SMS integration and brand new client portal mobile apps. But I'm most excited about "proposals and engagement letters." This will make it easy for firms to showcase their services, offer their clients packages, provide legally binding engagement letters, and get paid for them — all in one place.
What differentiates your company from others similar to it? What makes you different? Unique, even?
Radzinsky: Most companies in our space are strictly B2B, delivering features for accounting firms. We consider ourselves B2B2C. We exist to provide an outstanding experience not only for firms but for their clients, as well. The better the experience the end client receives, this will positively affect the firm, increasing their retention and customer satisfaction scores.
What is the biggest challenge facing companies like yours right now? How do you work to address it?
Radzinsky: We are battling how to balance releasing new features and keeping our community up to date on the latest releases. Because we are making so many updates, it is sometimes overwhelming for our community to stay up to date. We are addressing this by building a dedicated education team. They've created the TaxDome Academy and constantly update our help and video guides. Learning styles vary, and they've done a great job of creating content for visual and verbal learners. In the next quarter, they plan to release a series of updated webinars and boot camps to quickly get people up to speed before the new year.
What is the biggest tech challenge facing accountants today?
Radzinsky: Accountants both want to embrace change but are afraid of it. They are often worried about how their clients will adapt to using digital tools, they fear that this will make them potentially alienate older clients. But those same older clients are all on Facebook looking at their grandchildren's photos. As long as you add value, people will adapt and find that they love it. After all, who calls their banker to find out how much money they have in their bank account? Clients hire accountants to make them feel at ease, to add value and insight into the finances of their business, plan for the future, and of course, to assist with compliance. Embracing technology doesn't mean turning your personal business into a faceless corporation. Instead, leveraging technology enables firm owners and staff to double down on delivering value — the reasons clients truly need them.
What is the biggest challenge with selling to this market? Of being a company whose customers are primarily accountants?
Radzinsky: Firms are inundated with options. It can get overwhelming. There are a myriad of software companies all promising to deliver similar tools that practitioners don't have time to dig in and do their research. But thankfully, there are also companies out there that assist with this. Online review sites such as Capterra and G2 verify users with their LinkedIn profiles and capture client testimonials, assisting potential buyers in their journey.
TaxDome at a glance:
Firms served: Over 10,000 in 25 countries
Staff: 250 and growing
Location: New York, New York
Website:
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