May 16, 2021

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Botkeeper To Cut Costs For Smaller Firms

2 min read

Machine learning (ML)-powered bookkeeping solution Botkeeper has rolled out a new pricing model that will break down cost barriers, increase scale and give more access for firms of all sizes, a press release said on Thursday (April 15).

Botkeeper has reworked its packaging into a scaling model that will make a more consumable approach. It will help bring better value and flexibility to accounting firms, the release said.

Botkeeper has been able to cut down on its overall cost of entry by capitalizing on an internal scale and efficiency gains bought on by automation.

The updates, according to the release, are aimed at addressing the barriers smaller accounting firms face. With the tiered pricing structure for the two new products, accounting firms could begin to access a cost accounting standards (CAS) management platform and artificial intelligence (AI) for as low as $10,000 per year, the release said.

The products will let accounting firms introduce fixed or subscription-based products to clients.

“We’ve spoken to so many small firms that want to take the leap to implement automation into their practice,” said Botkeeper Chief Financial Officer Edward Shaughnessy. “We decided to go back to the drawing board on our pricing and see what we could do to help. The new pricing structure is our way of offering a flexible solution that allows firms of all sizes to leverage the Botkeeper platform and experience the power of automation.”

Botkeeper General Manager Byron Patrick, a certified public accountant, said the company “realized now more than ever, we need to be the utility that powers the accounting community to deliver quality bookkeeping services to their clients while allowing accountants to shift their focus to important and necessary higher-value services.”

David Disque, CEO at Corporate Spending Innovations (CSI), and Amit Patel, director of Procurement at The Witness Group, told PYMNTS last October that the embrace of automated accounts payable processes could be a big help for remote working environments.

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