Practice Ignition was created in the year 2013 as a joint effort of Gury Pearson, and Dane Thomas. It can be simply defined as a client management and a commerce platform. It is popular among many people because it reduces the complexity in the business proposal preparation and facilitates all the tasks at once. Today, the software has more than 5000 customers and is available in Australia, Canada, New Zealand, Philippines, South Africa, the UK and United States. Most importantly, it was ranked in Deloitte’s 2020 Asia Pacific Technology Fast 500 ranking listing. Further, Practice Ignition won the Rising Star Award & Great User Experience Awards as well.
Services Offered by Practice Ignition
Practice Ignition enables companies to send online proposals to their clients without any delay. The software is not limited to providing standard templates to its customers but also focuses on providing customized templates. The key to winning customers is to come up with a very clear proposal. This software is very helpful in preparing a proposal in a way that can attract customers. To accomplish that, they use videos related to the organization and personalized leaflets which are created for the organization. Customers will also be able to sign the proposal digitally and a maximum of ten signatures can be added to a proposal.
Most importantly, this software collects all the details that are entered at the time of signing; especially the payment details and creates an automated process for payment collection. It also provides additional services like proposal tracking, scheduling proposal reminders, standardized accounting and bookkeeping proposal templates, automating invoicing and reconciliation tasks by integrating with accounting software etc.
Practice Ignition takes care of the payment collection from the moment the client accepts the proposal. It provides a secured link for the payments and various payment options like debit and credit cards. These features will create a convenient payment collection procedure for clients. Most importantly, it has a full-featured cash flow tracking facility, which enables companies to track details about outstanding, upcoming, refunds. It has the ability to offer different billing arrangements to clients. (on acceptance, on completion or recurring) Further, it will update the status (paid, overdue) of the invoices in the accounting software accordingly.
Practice ignitions’ automated engagement letter service enables organizations to create or use complete engagement letters, which include all necessary details such as services of the company, pricing plans, billing dates etc. It allows organizations to get templates from professional accounting bodies or customized templates as per their need. This service can save a lot of time and effort of the employees while complying with the requirements. Most importantly, this software has the ability to convert an approved proposal to an engagement letter and maintain a record of e-signatures on behalf of the company. Further, it allows up to ten people to sign the document from anywhere at any time.
Practice Ignition facilitates organizations to manage clients’ billings smoothly without any interruption. They offer a variety of billing options ranging from recurring to fixed. Companies can decide on billing frequency based on their customers’ requirements. Bills can be arranged hourly, monthly, quarterly, annually or even on completion. Depending on the situation, the bill can be created by a combination of the aforementioned frequencies. Businesses has the ability to create bills through an automated billing process as well as a manual process. Further, it stores valuable details such as contact information and payment details about the customers.
Practice Ignition facilitates data-driven decision-making with its business dashboard. Users can gain complete insights about their cash inflows in advance. Those insights guide companies to face the uncertain future well. Most importantly, its’ dashboard enables users to view the past, current and future of the company without going through comprehensive reports. Its’ forecasting tool provides real-time information which improves the accuracy of the decisions. Further, it helps companies to track and monitor revenue & recurring revenue respectively.
Integrations
XERO
The integration between Xero and Practice Ignition is mainly used for invoicing and reconciliation tasks. It avoids duplicate recordings, track fees related to proposals, automate the invoicing process and change the statuses of the invoices accordingly. Most importantly, Practice Ignition will not only update the statuses of the invoices (paid, overdue) but also reconcile them automatically. Xero’s tracking categories can be used with this software and it provides a comprehensive understanding about the revenue figures.
QuickBooks Online
This integration automates the invoicing and reconciliation process. It facilitates accurate matching in invoice reconciliation and sends invoices to customers in a timely manner.
Further, it has integrations with Gusto, Xero Practice Manager, Zapier, Karbon and Intuit Practice Management, which enable organizations to automate mundane tasks, increase productivity and save time.
