Secure and collaborative accounting with ShareFile

Clinton Donnelly of CrytoTaxAudit always envisioned managing his firm using cloud technology. But he found himself with too many disparate tools that hampered efficiency, didn’t offer the security he needed, and couldn’t scale with the firm. He needed a complete solution that brought together all the firm’s processes so his team could focus on the work that mattered most.

By implementing ShareFile, CryptoTaxAudit:

• Saved more than $30,000 per year by eliminating disparate tools
• Reduced the time needed to complete tax returns, even complicated ones involving cryptocurrency
• Leveraged ShareFile integrations to streamline all client data intake and help to ensure accuracy

Simplifying and securing the complex

A few years after founding CryptoTaxAudit, Clinton Donnelly had a returning client come to him with over 250,000 crypto transactions, which led to his firm’s first individual tax return that included crypto. Clinton had already developed a strong interest in complex financial situations and investments and was educating himself on cryptocurrency taxation and regulation.

With increasing interest from clients around crypto tax policies and their IRS status, Clinton created his firm's IRS Guard Dog program, through which clients receive monthly reports on IRS status and are notified of anything that needs their attention. With the growth of the firm’s tax and crypto practices, CryptoTaxAudit now manages more than 1,000 monthly subscribers and 1,000 tax preparation clients.

Clinton knew from the start that he wanted to manage firm data in the cloud so it could be accessed anywhere, anytime. He tried a variety of products but found that usability, pricing, and security fell short as the firm scaled. Clinton learned about ShareFile and thought it exceeded his value, scalability and security needs. So, he made the switch.

“We needed a system we could trust with the best security around it. ShareFile is really good in that area.”

Clinton Donnelly, Founder and CEO, CryptoTaxAudit

Setting the firm apart with ShareFile

The CryptoTaxAudit team quickly shifted its processes to ShareFile. Along with Clinton, Sanela Mlaco, the firm’s Director of Operations, ensured prospects and clients knew that all document collaboration happened in ShareFile, so their data was secure. CryptoTaxAudit quickly found that clients preferred ShareFile. In fact, some prospective clients chose CryptoTaxAudit because of it, Clinton said.

ShareFile’s customizable secure client portal made it easy to set up each client with different permissions based on the complexity of their returns. If a client had a crypto portfolio, CryptoTaxAudit could separate workflows for the crypto and tax teams so they could complete their own processes independently and reduce the time needed to wrap up a return.

CryptoTaxAudit’s work didn’t just happen in ShareFile. They used ShareFile’s simple Zapier integration to connect to their questionnaire and CRM platforms. That meant all client data intake could be streamlined with the firm’s ShareFile instance, reducing chances of manual errors or duplicate entries.

“The fact that we use ShareFile becomes a differentiator for our clients.”

Clinton Donnelly, Founder and CEO of CryptoTaxAudit.

Saving money with e-signature

Even with the progress CryptoTaxAudit had made with ShareFile, there was still opportunity to save money and increase efficiency. When the firm’s e-signature solution was coming up for renewal, they started testing e-signature in ShareFile. The ability to integrate the signature process seamlessly into client portals in ShareFile eliminated separate tools and the need to download and upload agreements. That ultimately saved the firm more than $30,000 a year.

“ShareFile was already an ‘A’ product, but the integrated e-signature made it go up to a higher level. It increased our profitability, and made it inseparable for us.”

Clinton Donnelly, CEO and Founder, CryptoTaxAudit

Delivering just what your business needs

CryptoTaxAudit has evolved into the business Clinton envisioned, operating in the cloud and delivering great experiences for the clients, no matter how complex their needs. Implementing the right software has helped Clinton and his team simplify client-facing workflows, improve internal processes, and keep sensitive data secure.

Learn more about CryptoTaxAudit and how ShareFile can help your firm stand out among competitors.