Project Summary

Chartered accountants typically spend hours of time using spreadsheets to estimate the tax that their clients are likely to have to pay. The Tax Buddy system connects directly to the Xero accounting system and uses information from that system combined with data provided by the accountant. This produces tax estimates and documentation that the accountant can provide to their clients in a fraction of the time it would have taken had it been done in the traditional way.

  

Challenges

While systems like Xero provide an excellent platform for small business owners and their accountants to track detailed transactions, produce financial reports and annual returns, Tax Buddy identified that the there was no product in the market that assisted chartered accountants with the key task of advising their clients of the tax would have to pay. Good cashflow management is crucial for small businesses and an unexpected tax bill can place severe financial pressure on the business owner and the accountant alike.

 

How the Project Helped

Tax Buddy is cloud based software that is accessible on any desktop or mobile device. The system simplifies the process of working out the tax liability for a business and their shareholders. The fee chartered accountants pay to use this service is low and the time saved in executing the tax estimation process more than repays the cost.

 

Results, Returns on Investment and Future Plans

Tax Buddy has been launched recently in the New Zealand market and will make a significant contribution to the Xero "ecosystem" of products. More information on the product can be found at www.taxbuddy.nz

The role of accountants is changing and the expectation of them are to be more proactive and offer business advisory than been just a number cruncher. With the emerge of technology like Xero, accountants now need to think smarter on how they do things. Accountants need to take advantage of products like Tax Buddy to get calculations done faster, easier and more efficiently.

 

“I started working with Designertech nine months ago. Dave and his team has been great to work with, friendly and a very professional team! They have done an excellent job with Tax Buddy and I am very pleased with the quality and the timeliness of their work. There is no hidden cost. I appreciate the genuine interest they have taken in Tax Buddy and their willingness to walk the extra mile. Thank you, Dave and rest of the team, at Designertech for doing such a great job!" 

Yogeeta Devi, Managing Director, Tax Buddy 

 

The Tax Buddy concept is simple and accessible. The product has targeted a very specific need in the marketplace, and since it automates tasks that are both essential but routine, it represents an excellent use of technology for business advantage. In addition our customer has supported the product with simple and effective digital marketing and has connected to the powerful marketing engine that is the Xero product.

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