An essential quality control tool
Accounting mistakes happen, but there is a better way to find and fix them. With VERIFYiQ, businesses have a quality control tool that’s designed to automate and accelerate bookkeeping reviews. VERIFYiQ is a self-governing solution according to Matthew May, CEO.
“As the number of tenured employees decreases and outsourcing becomes increasingly popular, the need for tools that facilitate self-reviews for accounting staff increases,” May says. “Our quality control tool gives employees a self-serve mechanism to check and correct the most common bookkeeping errors before submitting those financials to a reviewer or a client.”
In addition to catching common errors to improve accuracy, the app increases efficiency. Brian Clare, co-founder of Blueprint, verifies this by noting on the VERIFYiQ website: “Not only has VERIFYiQ reduced our time-to-close, but clients are assured the books are accurate. We’ve told our clients we use it, and they love that there is technology to verify the quality of our bookkeeping.”
He’s joined by a QuickBooks App Store reviewer who gave VERIFYiQ five stars and wrote: “Love this tool! Does a great job reviewing the file and bringing items to your attention that you may not have noticed or forgot to book. I call it my ‘second set of eyes.’ Really helps to ensure you keep a clean set up of books. Highly recommend you add this tool to your QBO accounts.”
Along with its many benefits and glowing reviews, the app company faces a few challenges. One of those challenges is the lack of standards between firms. As May explains, “If a client of an accounting firm does not have a US GAAP audit requirement, there is tremendous variability in what firms consider to be acceptable financial statements. The inconsistency is further complicated because there is no standard chart of accounts across firms, or even within firms in many cases.”
VERIFYiQ is up for the challenge and is committed to constantly improving its software based on customer feedback. Their team is also taking advantage of the opportunity to participate in the Developer Growth Program to make improvements based on feedback from Intuit engineers, UX designers, and accounting experts.
Developer Growth Program provides vast resources
Like most start-ups, VERIFYiQ has finite resources. By signing up for the Developer Growth Program, the team is finding that Intuit has them covered.
“It is incredible to have access to the vast resources at Intuit with their deep software knowledge. For example, a UI review by Intuit experts is an incredible opportunity to get deeper product insights to help us understand what moves the needle from an engagement perspective,” May says.
As they continue to advance through the program and engage with accounting experts to gain industry insights and advice, VERIFYiQ is augmenting their in-house expertise. May says that “around every turn and in every meeting we’ve had, we find a deep subject matter expert at Intuit to support us. The marketing assets at Intuit are unparalleled in the industry. It has given us a huge jump start to have access to the tools in the Intuit marketing portal for our marketing campaigns.”
Dividends for years to come
Overall, May believes participating in the Developer Growth Program is a wise decision. “Collaboration in an ecosystem like Intuit’s is invaluable to app companies like us. Beyond the impact of Intuit subject matter experts, being in the company of our cohort of app developers allows us to build rich relationships that we’ll be able to leverage for years to come.”
That’s our goal, and we’re excited to hear what the future holds for VERIFYiQ. Until then, visit our developer forums to inquire about program details and to learn how to participate. We’re always looking for innovative apps that can address the needs of the QuickBooks community. Our step-by-step guide makes listing your app on the QuickBooks App Store easy.
