Aspect Accounting simplifies accounts payable to focus on higher-value client work

After more than a decade working in finance and accounting, Fraser Barrett, the founder of Aspect Accounting, realized there was a gap in how many SMBs dealt with bookkeeping. For these businesses, bookkeeping often consists of just balancing the books and producing reports. What’s missing is the ability for clients to not only understand what that data actually means for their business, but also to make better decisions with it.

Fraser built Aspect to fill this gap. Aspect Accounting exists to go beyond transactional bookkeeping and to help clients understand the drivers behind their numbers, identify risks early on, and make sense of their financial data in context.

Manual processes consumed the firm’s strategic capacity 

Aspect Accounting views all client relationships as potential long-term partnerships. To foster and maintain these partnerships, accuracy isn’t the only thing that matters; good judgement and valuable insights are crucial. So when friction in the firm’s day-to-day accounts payable operations began to eat up most of their time, they knew something had to change.

Paying bills was a drawn-out, disconnected process for their clients:

• First, they had to review outstanding bills in QuickBooks, which was clunky on its own.
• Then, they had to move over to their online banking portal, and any new vendor information had to be entered again.
• After that was complete, Aspect still had to reconcile everything manually.

Aspect’s clients were navigating software that was unintuitive and inconsistent, and they had to repeat manual steps across multiple systems just to get their bills paid.

Aspect was dealing with a litany of workarounds that solved the immediate problems, but each one added another layer to manage and keep track of. Approvals were given informally in various locations like Google Sheets, and the firm spent most of its time supporting clients through that whole process while also cleaning things up behind the scenes.

Preparing payments for clients, supporting them through the process, tracking down approvals, and reconciling all that activity took time away from helping clients understand what their financials were actually saying.

Standardized workflows that provide high-level experiences

Aspect knew that to create an elevated experience for their clients and move into a more consultative role, they needed to simplify. They wanted to make accounts payable more efficient, approvals clearer, and the client experience cleaner, easier, and more consistent.

They implemented Plooto as part of their standard accounts payable workflow for their high-level clients. Plooto allowed Aspect to apply a single structured approach for all of their clients while offering a custom, high-level, and seamless experience.

Now, Aspect processes and prepares invoices as payments inside Plooto. Clients can review and approve payments, with custom approval workflows reflecting how each client actually operates – whether they’re a solo entrepreneur or a business that needs more complex approval tiers.

In Plooto, Aspect’s clients have one place to see what they owe, which payments have been approved, and which ones have already gone out. Vendors are notified automatically, and everyone can see the payment status in real time. Ultimately, they’re able to stay in control of their payables while being more hands-off and having increased visibility into their cash flow.

A new foundation that paves the way for more long-term client partnerships

With a more efficient and reliable way to handle accounts payable, Aspect's day-to-day work has shifted.

They spend less time coordinating approvals, re-entering payment details, and retracing their steps across systems. Since clients no longer have to piece together information from disparate tools just to understand what payments have gone out, Aspect spends less time on logistical and technical support.

Now, with payments, approvals, and status visible in one place, Aspect can stay focused on building higher-level relationships with their clients.

With Plooto, Aspect has created a reliable foundation that reduces friction, supports clearer accounts payable workflows, and gives them time back so they can provide better insights. It’s an important step in delivering the higher level of service they strive to give their clients.