A fast-growing tax preparation and accounting startup based in Fairfax, Virginia, is streamlining its process of serving small businesses as well as individuals to speed up the otherwise hassle-heavy process, help businesses handle their accounting and tax preparation so that they can focus on their business and success.
“We are taking effective communication with our clients to a whole new level, something that is unprecedented in this industry before,” Guinduiz Osmanov, the founder of Imposta, said.
Imposta, inherited from Fairfax Tax Services and now acts as an umbrella entity, has refashioned itself into modern tax preparation and accounting service that makes the onboarding process smooth and allowing public accountants more facetime with their clients. With almost a decade-long experience, Imposta already has amassed thousands of returning clients, including hundreds of small and mid-sized businesses.
For any tax accounting firm, the so-called “season” is frustrating, putting enormous pressure on accounting companies as well as customers. This time period, roughly between January 5 and late April, individuals and businesses rush to file their taxes, racing against the deadline to make their filings on time to avoid any type of penalty.
In most accounting companies, CPAs, enrolled agents and bookkeepers are shuttling between advising clients, receiving their data and filing their documents within the deadline. Osmanov argues that their new system will allow qualified and senior tax and accounting advisors to do what they do the best: Advise clients, supervise the work and ensure that every document is in order. The legwork will be handled by the back-office team, minimizing the amount of stress put onto advisors and the clients.
“When it comes to handling sensitive data like financials and tax documents, we are introducing a system that is super secure and sharable across the board,” Osmanov said, adding that clients will have 24/7 access to their data, wherever they are.
Imposta also modernized its cloud system, transporting its entire operation into a secure cloud-based system that makes it mobile. The new system will allow Imposta Advisors to visit their business clients’ offices, set up their mobile workstation and go over tax data and financials as if they are sitting in one of Imposta’s offices, with all the tools and resources present. It is aimed to save clients’ time and provide a better, personalized and customized service.
For Osmanov, Imposta puts clients at the center of their entire operation. He believes that streamlining the process inside the company will reflect better on getting things done for clients. The level of quality service for every company is as good as its internal process and workflow. It will ultimately reflect as a much better customer service.
To make it even easier, Imposta is releasing its own custom-built app that allows clients to upload their data and documents to a secure cloud. Advisors from Imposta will then access those documents after onboarding clients, assign to their branches responsible for filing them and communicate and advise with clients throughout the process. The automated system will pave the way for a better workflow, expedited process and available agents all the time.
“Everything will be filed and prepared by our experienced accountants. Local advisors then will supervise, review, edit and submit. It will allow them to better communicate with clients, see the big picture and provide a customized service,” Osmanov noted.
“The fact that our advisors are local,” Osmanov added, “will give us a better advantage in understanding clients’ businesses or financials since we will be more knowledgable about local laws and regulations, local economy and business eco-system.”
The automated system also gives unprecedented insight into specific industries, allowing Imposta to not only handle their clients’ tax and accounting but also provide valuable business insights, trends and future economic predictions.
“By comparing industry metrics, we know how much you will end up spending for payroll or marketing or on your vendors if you’re a mid-sized local business in this particular location,” Osmanov highlighted, saying that their AI and machine learning mechanism is getting better and better to read and interpret trends in specific industries.
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This article is posted by and in partnership with Imposta, a tax preparation and accounting firm based in Fairfax, Virginia.