7 Experts Weigh In On the Future of Accounting
Every industry is impacted by the rise of technology and automation, and for many, that can be an...
A true automation-based bookkeeping platform will help you operate your end-to-end bookkeeping programs. While there are many bookkeeping solutions available today that can help streamline bookkeeping tasks, not all solutions are built the same. This page will help you understand the differences between Botkeeper and Bench so you can decide which is the right bookkeeping solution for your business or firm.
Botkeeper combines artificial intelligence and machine learning technology with high-quality, skilled accountants to deliver a full-suite bookkeeping and pre-accounting solution to accounting firms and their clients. You and your client base will receive 24/7 accounting and support as well as incredible insight into financials with beautiful dashboards and unlimited reporting.
Bench is a fintech company that automates accounting tasks to organize the financials of small businesses. Pairing its intuitive software with a live bookkeeping team, Bench combines the convenience and efficiency of modern technology with the expertise and time-savings afforded by a professional service.
Investing in an automated bookkeeping solution can transform your business. As the bookkeeping decision-maker, it's important to choose the right combination of tools and services that can deliver power and flexibility and are easy and delightful for your team to use every day.
To truly transform your bookkeeping, you need an integrated set of tools that help you drive accuracy, efficiency, security, and ultimately tie all your bookkeeping efforts back to ROI.
With Bench, you get software paired with human bookkeepers to get the bookkeeping done. For accountants, Bench provides financials to improve tax filing quality and deliver standardized books that tie to prior year returns, capture adjusting journal entries, and account for all tax-relevant financial activity.
With Botkeeper, all of this functionality is built directly into the platform, offering your firm a comprehensive solution. Using machine learning, artificial intelligence, and robotic process automation in conjunction with the expertise of senior accountants, we augment the manual and time-consuming tasks, creating lightning-fast and hyper-efficient bookkeeping (data entry, reconciliations, classifications, etc.).
Botkeeper is able to fully automate your bookkeeping department with human-assisted AI. And you can benefit from avoiding increases in headcount and overhead costs, see and trust the health of company results due to noticeably less manual human error, and get superior reporting and real-time, 24/7 data entry.
In addition, Botkeeper provides you with comprehensive support from your own Botkeeper accounting team. From onboarding forward, we will ensure a customized experience for your firm. Plus, we offer 24/7 support, so we are always plugged in for you and your firm.
Finding the right automated accounting solution for all your bookkeeping needs can become the foundation of your practice and the differentiator you need to grow. As a result, it’s important to seek out technology and features that fit your firm, staff, AND client base. This is why we’ve made Botkeeper with our CPA partners AND business owners in mind—we can grow and adapt our platform with your organization’s wants and needs. As a CPA, this means exponential value for you and your clients.
Bench's software component is largely the general ledger itself—an alternative to some of the more widely adopted solutions such as QuickBooks or Xero. The actual bookkeeping (i.e., categorizations, posting of transactions, data entry, etc...) is primarily conducted by bookkeepers working out of their Vancouver office in Canada.
Botkeeper has built a full suite of tools, letting CPA firms and/or business owners pick the tools that work best for them. Botkeeper uses automation to combine various data sources while applying rules, processes, and calculations so you get the most insightful custom reporting and dashboards. This eliminates costly and error-prone manual accounting.
For firms looking for more, Botkeeper leverages machine learning technology to handle the labor-intensive bookkeeping tasks by processing and categorizing transactions at an incredibly high accuracy level. The technology also learns more about your firm, and accuracy continues to improve. We extract data from receipts, process payroll, pay bills, send invoices, reconcile accounts, and generate beautiful reports.
With Botkeeper's Partner Platform, you have the ability to onboard and manage all of your clients through a custom-branded platform—with no mention of Botkeeper, if you like! Stay up to date on what is happening in all of your clients' Financial Hubs with your clickable activity feed, communicate directly with the Botkeeper accountants on what they need from you, and receive direct access to any open conversations you’re having within the tool.
The Botkeeper Financial Hub is where the business owner would find financials, download statements, build custom reports, and chat with your Botkeeper team as desired. Your clients receive a central platform to connect their financial and non-financial accounts, ensuring that their data is automated, compiled, and organized. Your clients get fast, accurate, seamless bookkeeping each month, while getting the personal touch, top-notch advisory services only you can provide.
The best part is that the platforms tie together into a comprehensive ecosystem so CPAs, their business owner clients, and Botkeeper operate in a centralized hub.
Average accuracy on transaction categorized by Botkeeper
Number of new clients you can bring on daily with Botkeeper
Average time saved by clients with Botkeeper
Because having the right support is imperative for success, finding exceptional customer service is critical when evaluating an automated accounting solution. The best customer support enables fluid, real-time conversations to help troubleshoot issues and answer questions as they arise. They get back to you quickly to provide updates or solutions. They offer you multiple means of contacting them including email, chat, and direct message within the platform for your convenience. Choose an automated accounting solution that understands the value of being there when you need it.
Bench gives you a dedicated bookkeeper supported by a team of in-house experts. If your business needs any of the following: property tracking, third party revenue collection, or cash revenue and cash expense tracking, you will need a specialized Bench team for support for an additional cost to add on to your Bench plan.
Botkeeper provides a dedicated Account Manager, as well as a multiple-layer support model, so you always have the right resources available to you. Think of your assigned Botkeeper as your personal assistant—they’ll take care of all the daily data entry and bookkeeping for you. You’ll also have access to our Accounting team, which is made up of bookkeepers, senior accountants, and CPAs who oversee complex accounting. Your Botkeeper team is always standing by to answer any questions you might have! And you'll have consistent support from the same team month-to-month.
In addition, Botkeeper documents all processes and procedures for reference, starting with deployment. We carefully document the specifics of yours or your client's bookkeeping details, and then we put together a playbook to reference in the future.
While the tech performs most of the day-to-day, our team ensures that we are continuing to update and track any adjustments in your business bookkeeping processes so you'll never experience any bumps in the road due to employee turnover. Our team maintains communication with you so no questions go unanswered and gray areas are cleared up quickly and efficiently.
We'd love to talk through our innovative approach to client support and success with you, so click below to speak with one of our experts!
Measure the performance of your bookkeeping when you integrate an automated solution, and see what your firm is able to achieve.
Bench provides bookkeeping software and a team of professional bookkeepers at an affordable price.
Botkeeper goes a bit farther. Our solution allows you to automate bookkeeping and pre-accounting procedures so you can dedicate more time and resources to your client base. Leverage the newly available insights Botkeeper provides and increase the value you can offer your clients. You can also differentiate your brand, help expand your firm, and diversify your service offering. Botkeeper oversees the automation so you can focus on complex accounting, data integrity, and interpretation. We’ll be hard at work extracting data from receipts, processing payroll, paying bills, sending invoices, reconciling accounts, and generating beautiful reports—so you have more time to achieve your firm's goal and focus on what matters most.
The cost of ownership is a way for you to assess the long-term value of an automated accounting solution to your firm. While the cost of the package is certainly a key component to keep in mind, it's not the only cost that you should take into account.
Bench bases their pricing model on monthly expenses; the price increases with the expense value. They offer 5 plans ranging from $139/per month to $299/per month: Starter, Micro, Boutique, Venture, and Corporate that all maintain the same level of service and operate on a cash basis. The Bench plans include monthly bookkeeping for up to 15 financial accounts (e.g., bank accounts, credit cards, loans, merchant processors, etc.), above which, you may be custom priced. For accountants, the standard Bench pricing ranges from $139-$219/per month for clients under $50k in monthly ($600k annual) expenses.
Botkeeper's pricing packages are customizable and flexible. Botkeeper has a pricing model meant for accounting firms to choose what their needs are based on a combination of their client's monthly expenses and the services they need from Botkeeper— but we offer the same white-glove service regardless of your package. The Starter package starts at $79/per month and scales up based on total expenses and unique needs.
For Business Owners, Botkeeper has a pricing model meant to give you what you need when you need it, through our best-in-class accountants and bookkeeping services. The Basic package starts at $59/per month and scales up based on additional financial solutions you need from Botkeeper (payroll, bill pay, invoicing, etc.).
We know that businesses change over time, and we want to make sure we provide pricing to reflect that. We have a toolset that allows you to estimate your costs with Botkeeper, and we also have a Botkeeper specialist to walk through your needs with you and help determine the best-fit bookkeeping services. The Botkeeper pricing structure is built to grow with your firm or business, offering a fully customizable option.
As the bookkeeping decision-maker, you probably think about your business every day (probably multiple times a day). Finding a bookkeeping solution that works for you today is as important as finding a solution that continues to work for you in the future. Will the solution you pick today be able to grow as you and your clients grow?
Bench has focused its bookkeeping service almost exclusively on the small business owner. Their model competes head-on with accounting firms by offering tax services, clean-up services, and financial reporting. For accountants, Bench helps them solve bookkeeping for small business clients.
Botkeeper supports businesses and accounting firms of all sizes: small, medium, or large—we’re talking to all of you! We remain industry-agnostic, providing bookkeeping solutions for accounting firms that service every industry from restaurants to churches and healthcare providers and construction companies. Our solution was built to scale from startup to Fortune 5000 companies.
Choosing a bookkeeping automation provider is a crucial decision, so it's important to consider not only the software but the support and resources you'll receive, as well. We at Botkeeper are invested in your success.
We've built the Botkeeper Platform to be easy for Accounting Professionals and Business Owners to use. That's why we're happy to share reviews of everyday professionals using Botkeeper to grow better, just like you. Click below to request a demo.
With the help of a dedicated Success Specialist, you will receive both technical guidance to properly configure the Botkeeper software, and campaign assistance to leverage the Botkeeper tools and methodology.
Our team is here to help! Accounting professionals and business owners are facing unparalleled challenges. We’ve created this resource hub overflowing with guides, calculators, templates, and more to help you get the most out of your experience with Botkeeper.
Technical and strategic guidance on setting up and using the Botkeeper Platform
The beauty of Botkeeper is its ability to scale and adapt to our growing business. After using Botkeeper for only 6 months, we’ve been able to save 30 hours per week on transaction categorizing, 5 hours per week of reconciling deposits, and 10 hours per month on reconciling revenue for just one of our clients! With bookkeeping running seamlessly with Botkeeper, I’m able to focus my time on reviewing output and making recommendations to my clients.