why client portals fail: understanding file transfer ... · 90 minutes (education, demo, q&a)...
TRANSCRIPT
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Why Client Portals Fail: Understanding File Transfer Solutions and Alternatives
Presented by:
Sponsored by:
CPE Webcast
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90 Minutes (Education, Demo, Q&A) Participants are muted. Please ask questions
through the GoToWebinar Control Panel 10% Discount to all attendees through 7/31/2013 Eligible to Receive 1.5 CPE Credits
Register at www.cpaacademy.org Logged in for 75 minutes Answer 5 of 6 polling questions CPE Certificate will be issued in 2 – 3 business days iPad viewers beware
Administrative Items
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cPaperless, LLC
Paperless tools for the tax & accounting industry Products
Adobe Acrobat Plug-In Next Generation Client Portal & File Sharing E-Signatures for Accountants (First to Market) 2,500+ Customers and 20,000+ Accountants Steve Dusablon
President & CEO (800) 716-2558 x 110 [email protected]
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Our Clients Experience with our Client Portal
Sharing Our Research Project
Options for secure file exchange and encrypted email CPA SafeMail and CPA SafeSign
Q&A
Webcast Agenda
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Our Companies Story and our Clients Experience
Client Portals
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Tax Vendor Client Portals • cPaperless, CCH, Thomson Reuters, Creative Solutions, eFileCabinet,
emochilla, etc. Broad Based File Transfer Solutions
Market Research: Accounting Industry
• Interviewed over 2,500 firms • Surveyed 100 firms
The Bottom Line
• Shocking truths revealed about Client Portal adoption rates
The Research Project
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Sharing Our Research
Taxpayers Experience 1. History of file exchange 2. Document types and sizes 3. Frequency of transfer
Staffs Experience 4. Document exchange workflow
The Research Project
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PROBLEM STARTS: • Fact: Accounting firms report that less
than 35% of their clients adopt their Client Portal or File Exchange Solution.
Massachusetts 201 CMR 17.00 • Identity theft on the rise • Breach of privacy laws are clearly
defined • Client confidentiality and document
security becomes a big issue
Can’t Email These Files Anymore
THE BOTTOM LINE • Firms are buying portals for secure file
exchange & online storage • Less than 35% of clients will adopt • Remaining 65% use email • Your firm needs to use email for secure file
exchange
Accounting Document Types
Transfer Solution
Research Item #1: History of Secure File Exchange
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Poll #1: Firms are purchasing Client Portals primarily for secure file transfer and online storage
Poll #2: Less than 35% of your clients will adopt your Client Portal or File Exchange Solution
Understanding why 65% don’t adopt 1. Document type and size 2. Frequency of transfer 3. Login required 4. Impact of the above three on the users experience
Easy to profile successful vs. unsuccessful adaptor's
Evaluating Polling Results
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Document Type % of Transfers
Document Formats
Frequency Of Transfer
Encryption Required
Signature Required
Large Files • QuickBooks
Small Files • Tax Returns • Power of Attorney (2848) • Fed e-file Authorization (8879) • State e-file Authorization • Extensions (4868) • Payroll Reports • Attestation Reports • Client Organizers • Various Word & Excel files • Contract & Transaction docs
Signature Required • Engagement Letters • Client Consent Forms
12%
88%
Monthly
No
Yes No
Annually Yes Some
Annually Yes
Research Item #2: Evaluating Document Types
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Most firms are using a solution designed for 12% of their files to send 100% of their documents
Firms should focus on the 88% of documents • Typical tax Client: For 75% of your clients, you only send them a
copy of their tax return and Form 8879 once a year
Firms should understand how Frequency of Transfer impacts the taxpayers experience
File Size & Frequency of Transfer
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Research Item #3: Frequency of Transfer
Client Staff
File Drop Off • If No Login • Minimal issues
Large Files (12%) • Bookkeeping & payroll • High Frequency • Client is familiar • Minimal issues
Small Files (88%) • Typical tax client • Low Frequency • Client is NOT familiar • Numerous Issues • Circle of Frustration and
Inefficiency
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As simple as it sounds,
this process causes problems….
Circle of Frustration & Inefficiency
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1) Staff sends a client small file(s) with a large file transfer solution
4) Client Forgets password & sends e-mail back to staff
5) Staff is in middle of tax season and sends email to IT to handle
6) IT Staff has to resend password to client
7) Client logins in, but can’t figure out how to download file(s)
2) Client receives email notification
3) Client clicks a link to login and download files
8) Why can’t they just email it to me?
9) Staff spends 5 – 10 minutes converting files to PDF, adding watermarks & manually adding password and encryption
10) Client receives PDF files, but wants to save or forward to their banker and needs to remove the password
11) Client sends email to staff asking for unencrypted file
12) Staff is at a loss, and emails the file without encryption
Circle of Frustration & Inefficiency
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Defining the Next Generation File Exchange Solutions…
Research Item #4: Document Exchange Workflow
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Client
Staff
Gather Documents
Request Documents
Process Transfer
Convert to PDF
Format
Change Documents
Add Password & Encrypt
Add Signature
1)Login & Download 2)Storage
Print Documents Sign
Scan & Email or Fax Back
Mail Back
Scan Mailed
Copies To PDF
Store in DMS
Send Documents
1)Login & Download 2)Storage
Client Portal / File Share
CPA SafeMail
Print Documents Sign
Scan & Email or Fax Back
Mail Back
Scan Mailed
Copies To PDF
File Preparation
Convert to PDF
Format
Change Documents
Add Password & Encrypt
Add Signature
Client Portal or File Share System Sign Documents
Rename Files
Rename Files
Add Watermark
Add Watermark
CPA SafeSign
Send Documents
1)Login & Download 2)Storage
Research Item #4: Document Exchange Workflow
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Options for Secure File Transfer
What are your options?
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Security Dilemma Secure file exchange is not easy! Numerous encryption types, levels & methods of application As security increases, ease of use decreases
• Buy the best encryption & security, but none of your clients will use it Clients will forget their passwords
• For 75% of your clients you only send them information once a year
Important Take Away • You can’t control all the client variables (sophistication, OS, firewalls, etc.) • No solution is perfect, none will provide 100% adoption
What’s my password?
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Options for Secure File Exchange
Client Portals • Files uploaded to a server, email with link sent to client • Password authentication
Broad based solutions
• Files uploaded to a server, email with link sent to client • Password authentication
Fact: Less than 35% of your clients will adopt these systems
• File type & size, frequency of transfer • Password authentication
Encrypted Email - For 65%
• Using encrypted email is the only way to get 90% adoption
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Options for Encrypted Email
Your clients know how to use Email Server based encrypted Email
• ZixMail, Smarsh, Ziptr, Secured-Accountant • Email text body and attachments go to a web server instead of email • Client receives an email notification to login and read message / download files • Password authentication
Outlook security certificates
• No passwords • Requires Outlook, purchase certificates and public key transfer • Expensive & impossible to deploy in the tax & accounting industry
Still no answer. This isn’t easy! Encrypted PDF files in Email attachments
• Very effective if done properly, achieving 90% adoption • Join webcast on how PDF Encryption Works
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The Power of PDF Encryption Encryption
• Anyone can manually apply with Acrobat Standard or Professional, or Acrobat alternative
• Encrypts all document contents with RC4 or AES password based encryption • 40-bit, 128-bit or 256-bit encryption available • Application is time consuming, cumbersome & error prone (can be automated)
Files sent through regular email as attachments Decryption
• Client only needs Adobe Acrobat Reader (FREE Version) • One of the most widely distributed FREE software applications in the world • Pre-installed on most computers & devices, and easily downloadable
Your firm can leverage this to your benefit
• Easy to use - clients are familiar with it • Most people already have the software • FREE
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The Power of PDF Encryption
Low High
Adoption 100% 50% 0%
Security
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The Power of PDF Encryption
Low High
Adoption 100% 50% 0%
Outlook Security
Certificates
Client Portal & File Share
Encrypted PDF Files Send as Link
ZixMail, Smarsh or Ziptr
Security
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Why do 35% adopt? Monthly, frequent or savvy users (trained) Large files Bookkeeping, payroll, business management and Corporate
Why do 65% not adopt?
Annual, infrequent & non-savvy users Small files Typical 1040 tax client
So what do you do? Send unencrypted files Use an encrypted email solution Manually encrypt PDF files Train the remaining 65%?
Full time job - does it make sense to invest in this? A process that 75% of clients only use once a year for 2 minutes
Does secure file transfer have to be complicated?
Summary
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Acknowledge CPA SafeMail is a Portal Our Portal has the same issues. Understand them and educate the market Profile the Portal users
Unlock the Power of Adobe Acrobat
Automate the PDF encryption process Leverage the widespread distribution of Acrobat Reader Most taxpayers already have Reader installed
Simplify file sharing for the 65% you send a copy of tax return
and 8879 once a year Secure E-Mail attachments No login is required!!! Minimize taxpayer training
Automate all 13 steps of the workflow process
Strive for 90% adoption rates
What We Did
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Moving From 35% to 90% Adoption
Client Staff
File Drop Off • Minimal issues
Large Files (12%) • High Frequency • Minimal issues
Small Files (88%) • Send as Encrypted email
(PDF files) • Minimal issues
E-Signature • First and only to market
Bonus • Automate 13 workflow steps
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Not once in this demo will the client or staff have
to login to a portal or file transfer system!
Next Generation File Sharing!
Ease of Use – No Login Required
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PRODUCT DEMONSTRATION
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Q&A
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System Requirements
System Requirements
Staff • Microsoft Outlook 2007 or 2010 • Microsoft Office 2007 or 2010 • Internet Connection • Adobe Acrobat Reader (Free version)
• Standard or Professional required to modify a PDF file before sending • Citrix or Terminal Server compatible
Clients
• Internet Connection • Any Email System • Adobe Acrobat Reader 7.0 or higher (Free version)
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What do we do next?
Next Steps
FREE 30 Day Trials Available to all members of your firm! Contact Us:
Web: www.cPaperless.com
Email: [email protected]
Phone: (800) 716-2558 x 100