Zoho, a global technology company, has reported a 45% increase in new customers globally for its Zoho Finance Platform. The platform has expanded with 230+ extensions in Zoho Marketplace and a dedicated developer portal. Zoho also launched Zoho Practice, an end-to-end practice management solution for accounting professionals. These additions strengthen the Finance Platform’s ecosystem, enabling businesses to tailor their applications and collaborate with accountants to enhance operations. The platform has grown from a single app to a unified suite and comprehensive platform over the last 15 years. The expanded ecosystem offers full customization, ensuring software meets business needs with unparalleled efficiency. Accountants are also part of the ecosystem, providing support to clients in their path to success. Zoho Practice serves as an all-in-one solution, allowing accountants to focus on delivering value-added services.
Zoho Practice, a Modern Solution for Accountants
Today, accountants are expected to go beyond providing traditional services like day-to-day accounting, bookkeeping, financial reporting, auditing, and tax filing. Clients also expect insights on an organizational level, like how to curb spend, identifying additional revenue sources, and accelerating business growth. However, to provide these bespoke services with excellence, accounting professionals would require a holistic view of their clients’ businesses, in addition to efficiently running their own firm’s operations.
Zoho Practice, a one-stop solution meticulously crafted for the modern accounting firm, launches with extensive client management, document management, task management, timesheet and billing capabilities. The application also offers industry-first functionalities built from the ground up for distributed firms, including AI-driven anomaly detection for client records; built-in collaboration through chat, voice, or video calls; and a unified platform to act as a single source of truth for all client services. This practice management solution comes pre-integrated with Zoho Books (accounting app) and Zoho Expense (travel and expense management app), providing a comprehensive central repository while enabling seamless interoperability between an accounting practice and their clients’ finances.
Continued Growth of Zoho Finance Platform
Zoho has also introduced Zoho Billing, a multifaceted solution built for growing businesses to experiment with pricing and quickly go to market. The finance platform ecosystem experienced a 63% increase in the global accounting partner network last year.
Continuing on this momentum, Zoho also launched an enterprise-grade Developer Portal. This allows third-party developers to build solutions easily that customize specific functions of their finance applications, automate routine processes, and publish the extensions in Zoho Marketplace. Additionally, businesses can use the portal to build their own extensions for use within their organizations.
Today, there are 230+ extensions in Zoho Marketplace extensions for the Finance Platform that go beyond the functionalities offered natively, helping solve advanced requirements. Some of the most common uses of extensions include:
- Connections to local payment gateways to offer more convenient payment methods to customers
- Verifying a contact’s email address, and their bank account details to ensure data accuracy
- Syncing financial data automatically with other business intelligence and forecasting apps
- Adding pin location within a map while recording customer or vendor addresses
Pricing and Availability
Zoho Practice is available for use immediately, and is free for accounting firms with up to 3 users. Additional users can be added by purchasing the add-on which works up to $2.5 monthly, per user.
Customers of Zoho Finance Platform can install the extensions offered in the Zoho Marketplace from within the applications. The pricing will depend on the monetization model that the developer follows for that extension.
