Using Data from Canopy Insights Improves Harvest Accounting Firm Operational Efficiency

Profile:

Harvest Accounting Firm, founded in August 2020, specializes in serving small family-owned and operated businesses across various industries. With a focus on businesses ranging from half a million to several million in revenue, Harvest Accounting provides tax compliance, planning, projections, and monthly bookkeeping services. The firm emphasizes building long-term relationships with its clients.

Integration with Canopy:

Harvest Accounting Firm transitioned to Canopy in 2022, primarily attracted by its billing software and payment collection features. Eric Bonney, managing shareholder, noted a significant reduction in time spent on billing tasks since adopting Canopy. The firm also utilizes Canopy for task management, CRM, and automated setup of prospects through integrations with other technologies like Typeform and Zapier.

Obstacle: Limited revenue reporting capabilities before implementing Canopy Insights

Utilization of Canopy Insights:

Eric expressed initial excitement about Canopy Insights. As someone with a technical background, he saw potential in Insights to address the shortcomings of Canopy's reporting features. Spending considerable time exploring Insights, Eric appreciated its ability to provide valuable data and awareness into the firm's operations.

"It allows us to be much more proactive with [clients], instead of waiting until the last minute and being more reactive."

Utilizing Canopy Insights, Eric created custom dashboards to track various metrics related to task management, revenue, and partner performance. Insights enabled him to proactively address issues such as overdue tasks and underutilized team members, leading to improved client service and operational efficiency.

Solution: Adoption of Canopy Insights to enhance revenue tracking, task management, and operational efficiency.

Impact on Business Operations:

The introduction of Canopy Insights revolutionized how Harvest Accounting Firm manages its operations. Eric highlighted its role in streamlining the budgeting process and facilitating data-driven decision-making. Insights empowered the firm to implement proactive measures, such as adjusting service agreements based on client performance metrics.

“Before we had [Canopy Insights], we could not generate any type of revenue reports other than our revenue by service item, which didn't provide us with any metrics."

Future Expectations:

While acknowledging the current state of Canopy Insights, Eric expressed optimism about its future development — including natural language search capabilities and streamlined report generation, which will enhance user experience and productivity.

"I know that it is going to get better as more users start to use the actual product and provide more feedback. I see down the road...this being an even more robust tool than what it is right now."

Outcome: Improved proactive decision-making, budgeting, and client service at Harvest Accounting Firm by integrating Canopy Insights.

Eric's experience with Canopy Insights exemplifies how innovative software solutions can empower accounting firms to enhance efficiency, improve client service, and drive business growth. Harvest Accounting Firm's successful integration of Canopy Insights underscores the importance of leveraging technology to adapt to evolving industry demands and deliver value to clients.