Deloitte Private has heeded its own warnings about digital disruption of the professional services sector by redefining the way it delivers accounting and tax services, via the launch of Deloitte Private Connect.

With Deloitte Private Connect we have positively embraced the disruption to the accounting and tax profession on account of cloud technologies and created an offering that transforms the way business owners experience accounting services.

Deloitte Private Connect combines shared ledger accounting, automated bookkeeping and benchmarking, an online portal and dashboard as well as many other digital technologies, to redefine the way our private clients work with us, in real time, on any device.

Every business owner dreams of spending less time in the business and more time on the business.

Less time on day-to-day transactions, paying staff and suppliers and scrambling to balance the books. More time on the bigger picture and the things that helped them succeed in the first place.

Until now, that’s been easier said than done. Deloitte Private Connect represents a fundamental shift in the accounting and tax function for our clients and for us.

Deloitte Private took a transformative approach to the design of Deloitte Private Connect, creating an ecosystem built around a family of business apps.  These apps automatically populatean interactive dashboard enabling business owners to quickly review key metrics in real time.  Based on the particular needs of their business, clients select from compatible apps conveniently grouped into simple categories such as staff, customers, marketing, product, money, etc.

Core to Deloitte Private Connect are two apps:

Transact automates bookkeeping. Invoices are digitally scanned and authorised for online payment while business owners digitally sign tax returns, approve BAS statements and year end accounts, raise queries and store documents securely online.

Analyser enables business owners to access live financial reports and business analytics, including profitability, cash flow, growth and trend analysis. Key performance indicators can be customised, live ‘what-if’ analysis performed and alerts set up to keep on top of the metrics that matter.

In a breakthrough for the professional services sector, Deloitte Private Connect is based on an online subscription payments model and fixed monthly fees.  We recognised that fixed monthly payments make it easier for our clients to manage their cash flow. We have adjusted our business model and workflow management accordingly, to provide our clients with certainty, as well as best in class services.

About Deloitte Private Connect

Provides all the essentials for a business owner to have a real-time view of their financial position and performance anywhere, anytime and on any device:

• Everyday transaction management (processing of supplier invoices and payments, general ledger)
• BAS activity statement lodgement
• Interactive management reporting
• Regular meetings with Deloitte Private advisor
• Annual income tax return and ASIC company statement lodgement
• Digital signatures
• Live support
• Online dashboard.