Zoho Announces New ‘Zoho Practice’ for Accountants and Expands Finance Platform Ecosystem

Leading international technology company Zoho reports a 45% increase in its Zoho Finance Platform’s global customer base. The impressive platform has over 230 marketplace extensions and a new enterprise-grade developer portal.

Zoho also released Zoho Practice, a comprehensive management application designed for accounting professionals to further improve the platform’s ecosystem. This helps companies optimize their operations by allowing them to communicate with accountants and personalize applications successfully.

Chief Evangelist at Zoho, Raju Vegesna:

“Over the last 15 years, our Finance Platform has grown from a single app to a unified suite, then a comprehensive platform. Our continued investments in building a powerful ecosystem have enabled businesses of all sizes to access the best enterprise-grade tech available. The expanded Zoho Finance Platform ecosystem offers full customization, ensuring the software continues to meet their business needs with unparalleled efficiency, even as they evolve. Moreover, accountants, being one of the vital part of our ecosystem, have been going beyond their traditional role by supporting their clients in their path to success. Zoho Practice will serve as an all-in-one solution, helping them manage their firm and their clients, spend less time on repetitive tasks and more time delivering value-added services”

Presenting Zoho Practice: A State-of-the-Art Instrument for Accountants

In the ever-changing corporate landscape of today, accountants must provide more than just standard services. They must offer strategic organizational insights that promote business growth, new income streams, and cost-cutting tactics. With features like task management, timesheets, billing, and client and document management, Zoho Practice is designed with modern accounting businesses in mind.

A single platform for client service administration, integrated communication tools, and AI-powered anomaly detection in customer records are some of the special features. It functions as a central hub for smoothly managing client finances and firm operations and is integrated with Zoho Books and Zoho Expense.

IDC’s Kevin Permenter, Director of Research for Financial Applications, outlines the difficulties accounting companies encounter in managing their clientele. He says, “Today, one of the more challenging aspects of running a successful accounting firm is client management, and how varied each client request can get in terms of volume and complexity. Zoho Practice offers users the opportunity to consolidate all these aspects into a single platform, leveraging the depth and breadth of Zoho’s financial operations management software portfolio.”

Venessa West, a business consultant specializing in bookkeeping and auditing, highlights the innovative features and user-friendly design of Zoho Practice. She goes on to say:

  “Zoho Practice is nothing short of a game-changer, not only for Zoho but also for the accounting community. This tool brings an accessible, user-friendly approach to managing your clients, their requests, and your daily tasks. What sets Zoho Practice apart is its intuitive design, making it incredibly easy for accounting professionals to navigate and utilize its powerful features.”

The Zoho Finance Platform’s Ongoing Growth

Recently, Zoho released an improved version of its corporate tax capabilities for enterprises in the United Arab Emirates, a free student edition of Zoho Books in India, and the Finance Platform in Germany. Last year, the platform saw a 63% increase in its global accounting partner network and the debut of Zoho Billing, designed for expanding enterprises.

Third-party developers can now provide extensions in the Zoho Marketplace, automate procedures, and create custom solutions with the recently released Developer Portal. This gives companies the ability to create custom extensions for internal usage.

The Zoho Marketplace now has over 230 extensions for the Finance Platform, allowing it to provide more sophisticated solutions than just its built-in functionality. These include integrating local payment gateways, confirming contacts’ email addresses and bank accounts, syncing automatically with business intelligence tools, and adding pin locations for vendor or customer addresses on maps.

Price and Availability

Accounting firms can start using Zoho Practice right away at no cost for up to three users. For more than three users, an additional fee of $2.50 per user each month is applicable.

For Zoho Finance Platform users, the extensions available in the Zoho Marketplace can be installed directly from their current applications. The cost of these extensions varies and is determined by the pricing model chosen by the extension’s developer.

Image: Zoho

Michael Guta Michael Guta is the Assistant Editor at Small Business Trends and has been with the team for 9 years. He currently manages its East African editorial team. Michael brings with him many years of content experience in the digital ecosystem covering a wide range of industries. He holds a B.S. in Information Communication Technology, with an emphasis in Technology Management.