You Need a Document Management System with Your Practice Management System

Practice management systems are undoubtedly valuable given their crucial role in helping firms run smoothly. But relying on a PM system for your document management and client portal needs doesn’t just create inefficiencies – it can pose serious risks to your firm.

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Your Questions, Answered

Practice Management Systems Excel in Many Areas

If you’re using practice management software like Canopy, Karbon, Financial Cents, or TaxDome, you’re already on the right track to keeping your accounting firm organized and efficient. These tools are great for managing tasks, staying on top of deadlines, and keeping your team connected.

Task Management

Organize and track tasks to stay on top of all client and internal projects.

Scheduling and Activity Timelines

Manage deadlines effectively and maintain a clear overview of ongoing projects.

Time and Billing

Efficiently record billable hours and generate accurate invoices for clients.

...Just Not in Document Management and Security

Many pros are tempted to use self-proclaimed ''all-in-one'' practice management systems for everything – including document storage and sharing. That’s where these systems often fall short, putting your firm’s success in jeopardy.

The Risks of Relying on Practice Management Systems for Your DMS

Inefficiency

Poor document organization, disorganized folders, manual processes, and limited search capabilities waste time, decrease productivity, and ultimately frustrate your team and clients.

No Scalability

Storage, capacity, users, file sizes – all things many PM systems cap, meaning you’ll hit roadblocks or need to shell out more money if you ever want to grow your practice.

Security Issues

Inadequate security measures and compliance features can lead to unauthorized access, data loss, regulatory issues, loss of business, and hefty fines.

Practice Management + Document Management = A Winning Combo

Practice management can only take you so far when it comes to organizing and securing your critical documents. That’s where SmartVault comes in. Our DMS is built specifically for accountants to make your workflow even smoother and more secure.

Purpose-Built for Accounting

Unlike generic DMS systems, SmartVault is designed with accountants in mind. Our system automates folder structures and workflows, streamlining document storage and retrieval during tax seasons, audits, and beyond.

Seamless Document Organization

While practice management tools organize tasks, SmartVault organizes your documents. We integrate smoothly with popular tax and accounting software like Intuit Lacerte and UltraTax CS, allowing you to file and manage all client records in one central, secure location.

Compliance and Security at the Core

Protecting sensitive client information is a non-negotiable. SmartVault's SOC 2 Type 2 compliant and offers encryption, granular permission controls, audit trails, and activity logs—features essential to maintaining compliance with standards like IRS 4557 and FTC Safeguards.

Streamline Document Collection and Client Collaboration

The biggest time sink for accounting firms is often gathering and organizing client documents. Practice management software can’t solve this issue entirely. SmartVault makes document collection easier by allowing clients to upload securely to their respective folders, reducing the back-and-forth emails and manual work. Plus, you can send engagement letters and eSignatures directly from the platform.

Scalability for Growing Firms

Whether you’re a small firm or a growing enterprise, SmartVault scales with you. Practice management tools help manage your growing client base, but as your workload expands, you’ll need more robust document handling. SmartVault’s secure and structured DMS ensures that every document is stored in the right place, accessible anytime, and auditable when needed.

Integration is Key

SmartVault integrates with your existing tech stack, enhancing practice management tools like Canopy, Karbon, Financial Cents, and TaxDome. By adding SmartVault, you gain a comprehensive solution that not only helps you manage tasks but also handles documents with the utmost security, compliance, and efficiency.

Millions of People Rely on SmartVault

SmartVault supports over 3 million users, securely stores over 500 million documents, and has facilitated hundreds of thousands of signatures.

3 Million+

500 Million+

15+ Years

Beyond Practice Management: Why Your Accounting Firm Needs a Dedicated Document Management System

Written for accounting professionals by industry experts, this guide provides actionable insights to help you build a more efficient, secure, and profitable practice through smart technology choices.

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Enjoy Seamless Integration with Your Preferred Business and Accounting Apps

Boost productivity by connecting SmartVault with your existing software.

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Practice Management is Vital—But Incomplete

All-in-one systems promise everything but deliver underdeveloped, clunky features that don’t work well. We encourage you to contact us to learn how SmartVault is different.

		Typical PM Systems
Ability to scale with unlimited storage and clients		No, often has limits
Enhanced data security with SmartVault vs. Practice Management Systems: Key Value Differences bank-grade encryption and comprehensive compliance (SOC 2 Type 2, IRS 4557)		Limited, varies by system
Streamlined client collaboration with user-friendly, branded portal		Basic portal, often an afterthought
Efficient document collection with customizable, automated requests		Manual or basic automation
Time-saving advanced search with OCR capabilities		Basic search, rarely includes OCR
Seamless integration with multiple tax software systems		Often limited to single system
Cost-effective document management as your practice grows		Can become expensive with growth
Automated document routing to reduce errors and save time		Often requires manual routing
Comprehensive version control and audit trails for enhanced security and compliance		Basic or limited capabilities
Flexibility to create custom templates for various document types		Usually limited to certain areas
Ability to easily retrieve deleted documents with Recycle Bin feature		Not typically included
Mobile access for on-the-go productivity		Limited or not available

SmartVault’s Accounting-Specific DMS Powers Efficiency, Scalability, and Security

Eliminate the above risks with SmartVault, a DMS and client portal that complements any practice management system.

Efficiency: Streamlined Workflows and Time-Saving Processes

SmartVault transforms your document management process, boosting productivity for both your team and clients.

Access and collaborate on documents securely from anywhere, anytime
Locate files quickly with advanced search and consistent organization
Accelerate workflows using accounting-specific templates
Reduce errors and boost productivity with intelligent auto-routing
Integrate seamlessly with your existing tech stack
Simplify document collection using custom request lists
Streamline approvals and signatures with integrated eSignature tools
Improve collaboration through secure, real-time document sharing
Reduce back-and-forth communication with centralized document management

Scalability: Unlimited Growth Potential

With SmartVault, your practice can expand without worrying about system limitations or unexpected costs.

Enjoy unlimited storage and client capacity to support your growing practice
Maintain consistency with standardized folder structures and workflow automations when adding new staff or clients
Transition completely to a paperless office, reducing physical storage needs
Scale efficiently, like user Nick Boscia who doubled his client base while working fewer hours
Impress clients with a branded, secure file-sharing portal
Enhance customer service with convenient, 24/7 client access
Adapt to growing needs without hitting storage or user limits

Security: Robust Protection and Compliance

SmartVault prioritizes the security of your sensitive information and helps you meet regulatory requirements effortlessly.

Safeguard sensitive financial data with bank-grade encryption measures
Control access precisely with customizable user permissions
Track all activities with comprehensive audit trails for compliance
Enhance security with two-factor authentication
Protect against data loss with continuous, automatic backups
Maintain document integrity with version tracking
Meet regulatory requirements with SOC 2 Type 2 compliance
Ensure data security and compliance with robust measures and reporting

Your Questions, Answered

Why can't I just use my practice management system for document management?

While practice management systems are excellent for many aspects of running your firm, they often fall short in document management capabilities. SmartVault is specifically designed for secure document storage, sharing, and collaboration, offering features like unlimited storage, advanced search capabilities, and robust security measures that most practice management systems can’t match.

How does SmartVault complement my existing practice management system?

SmartVault works alongside many practice management systems, enhancing their capabilities rather than replacing them. While your practice management system handles tasks, scheduling, and billing, SmartVault takes care of all your document-related needs, from secure storage and sharing to client collaboration and compliance.

What key features does SmartVault offer that most practice management systems don't?

SmartVault provides:

Unlimited, secure cloud storage
Advanced document organization and search capabilities
Bank-grade encryption and compliance features (SOC 2 Type 2)
A branded client portal for secure file sharing
Integrated e-signature tools
Automated workflows for document routing and organization
Comprehensive audit trails for enhanced security and compliance

Is SmartVault more secure than storing documents in my practice management system?

Yes, SmartVault offers superior security features specifically designed for document management. This includes bank-grade encryption, two-factor authentication, detailed access controls, and comprehensive audit trails. SmartVault is also SOC 2 Type 2 compliant, ensuring it meets the highest standards for data security.

How does SmartVault help my firm scale compared to using a practice management system for document storage?

Unlike many practice management systems that cap storage or user limits, SmartVault offers unlimited storage and client capacity. This means you can grow your practice without worrying about hitting storage limits or incurring unexpected costs. SmartVault also maintains efficiency as you scale with standardized folder structures and workflow automations. We have an unlimited plan that provides unlimited eSignatures, knowledge-based authentications, forms, quotes, proposals, and more.

How does SmartVault improve client experience compared to using a practice management portal?

SmartVault offers a branded, user-friendly client portal that’s specifically designed for secure document sharing and collaboration. Clients can easily upload documents, view and download files, and sign documents electronically. This dedicated portal often provides a smoother, more intuitive experience than the portals included with many practice management systems. Most PM providers place their DMS and portals on the backburner as their primary focus is on task-related features.

Can SmartVault help with my firm's regulatory compliance needs?

SmartVault is built with compliance in mind, offering features that help you meet various regulatory requirements (like IRS 4557, FTC, SEC, etc.). Its comprehensive audit trails, access controls, and data encryption help ensure you’re always audit-ready and compliant with data protection regulations.

How difficult is it to migrate my documents from my practice management system to SmartVault?

SmartVault offers a quick migration process. Our team has extensive experience helping thousands of customers make the move to our system. We provide comprehensive support and resources to ensure a smooth transition, minimizing disruption to your work.

Will I lose any functionality by using SmartVault for document management instead of my practice management system?

You’ll gain functionality. While your practice management system will continue to handle tasks like scheduling, time tracking, and billing, SmartVault will significantly enhance your document management capabilities. This combination provides the best of both worlds, optimizing your firm’s overall efficiency and security.

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