Vancouver, British Columbia, Jan. 17—Bench Accounting (www.bench.co), a leading bookkeeping and tax advisory platform, is changing the game for business owners by providing real-time financial insights.
From their Bench dashboard, businesses can now view all their connected bank accounts and access actionable real-time data, when they want, all before their monthly books are closed. Income statements, balance sheets and top expense insights are updated with every transaction, giving business owners a one-click way to track expenses and cash flow and make informed, timely decisions.
As part of the company’s mission to help business owners thrive, this update provides a completely new way to use Bench, while maintaining the unmatched level of accuracy and unlimited access to dedicated bookkeepers Bench customers love.
“Business owners love the accuracy and completeness of the financial insights they receive from Bench. The faster they receive the insights, the faster our customers can make effective business decisions,” said Prasad Sristi, VP of Product at Bench. “We’re now delivering actionable day-to-day insights to our customers. This gives Bench customers a serious competitive advantage as to how they control their business finances. Real-time financial insights and unlimited access to professional bookkeepers is what truly sets Bench apart.”
The real-time insights update enables Bench users to:
- See financials faster, in real-time. Get a snapshot view of all money-in and money-out, whenever needed, even before monthly books are closed.
- Know where input is needed. Labels have been added to transactions so users can see what has been categorized and where bookkeepers need their input. Customers can also give input on categorization on their own schedule, accelerating insights and streamlining communication with their bookkeeper.
- Navigate tax season faster. With connected accounts, users can automate the flow of information from their financial institutions and reduce the need to manually upload account statements. Bookkeepers can get started on closing the monthly books without needing to wait for document uploads from their customers, therefore reducing any last minute tax season rush.
Backed by a team of professional bookkeepers, this product update has changed the way business owners think about—and access—their finances. Daily customer engagement on the Bench app has increased 63% since the real-time financial insights launch.
“Logging into Bench now, I realize how much new data is appearing in the system while my bookkeeper is closing my monthly books. I love that I can now log in to get a real-time pulse check on all my business accounts and see how much cash I have available. It completely changed the way I use Bench.” - Kevin Meyer, Co-Founder, Crunch Tech Inc.
Complementing this latest innovation is Bench’s 1099 reporting feature, released in November 2022, which provides businesses with year-round reporting and visibility for their non-employee compensation and miscellaneous payments. Customers now have access to this brand new 1099 feature as well as improved document upload experience to streamline sharing information with their bookkeepers.
Bench Accounting (www.bench.co) is America’s No. 1 professional bookkeeping services and tax advisory fintech platform with over 12,000 U.S.-based customers supported by 650 employees. Pairing its intuitive software with a dedicated accounting team, Bench combines the convenience and efficiency of modern technology with the expertise and time-savings afforded by a professional service. Bench has raised over $100 million in funding to-date from renowned investors such as Contour Venture Partners, iNovia Capital, Bain Capital, Altos Ventures, Bank of Montreal, Sage, and Shopify. Follow @Bench or visit https://bench.co/press.
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