outsourcing bookkeeping with botkeeper

When it comes to outsourcing bookkeeping work these days, there’s no shortage of options. One option for firms however, has caught my attention for the past while: Botkeeper, a tech startup that has designed and developed a machine learning and artificial intelligence-based bookkeeping platform paired with accountants to help firms and companies outsource their bookkeeping.

I’ve become incredibly interested in how some of these new accounting tech startups on the block are raising a ton of money, developing their own technology and breaking down some barriers when it comes to how services should be delivered in this day and age.

I had a chance to sit down with Botkeeper’s CEO, Enrico Palmerino, to talk about what Botkeeper is (and what it isn’t), how their service works, tips for firms before outsourcing bookkeeping and what’s on the horizon for automated bookkeeping. Take a listen for yourself below:

Show Notes

Disclosure: Some of the links below are affiliate links, which means I may earn a commission.

2:25 – Enrico gives a rundown of what Botkeeper is exactly (see their website for more details as well) and how it uses machine learning and artificial intelligence.

3:24 – Enrico tells me what Botkeeper is able to do and the problem that Botkeeper is solving.

5:31 – Enrico also talks about tasks that Botkeeper can’t help with.

8:30 – What’s the typical kind of firm joining Botkeeper? Enrico also talks about how firms with an already existing bookkeeping service line are benefiting most from Botkeeper due to cost and time savings.

12:10 – Enrico mentioned that Botkeeper is helping augment existing bookkeepers on a team. I ask him how he’s seeing bookkeepers being augmented.

17:15 – I was curious about whether Botkeeper’s technology is automating more than the typical QBO/Xero + Receipt Bank/Hubdoc bookkeeping technology stack so I wanted to get Enrico’s take on whether his service is automating more than what some firms might already be doing.

20:54 – Botkeeper’s service is human-assisted and I ask what parts of the bookkeeping process requires human involvement.

23:29 – What’s the percentage of bookkeeping work is automated with Botkeeper and how much of it is a human? Enrico shares his thoughts on this percentage split.

28:23 – I wanted to know more about how easy it is to plug Botkeeper’s service into an existing firm and what the onboarding process looks like. Enrico describes the 20 day process.

34:53 – My experience as a firm owner recognizes that all clients have nuances to them and I wanted to know Enrico’s view on how Botkeeper can acquire the knowledge necessary to handle each individual client that is transferred over to them.

37:14 – Continuing on the topic of facilitating transfer of knowledge to Botkeeper, Enrico discusses how they implement a playbook on each client where 90% of it is templated based on the industry in question and the other 10% is unique to the client. Unrelated to Botkeeper, this is a useful piece of advice for all firms to implement to ensure a seamless transfer of knowledge of clients from any employee within the firm.

38:05 – I ask how Botkeeper helps with catch-up and clean-up projects and Enrico talks about how much of it is human-assisted and where the technology comes into play.

44:18 – What’s the sweet spot in terms of firm size for firms using Botkeeper for outsourcing their bookkeeping?

47:14 – What should an accounting firm have in place before outsourcing bookkeeping to Botkeeper? Enrico gives 2 things to consider and I follow up with questions on what internal processes need to change at the firm.

54:13 – Many other accounting tech start-ups in the space are not only helping with outsourcing bookkeeping services, but also tax and advisory services as well. Enrico lets listeners know whether they plan on expanding into other service lines and some things on their radar to help improve their current offering.

56:43 – I ask Enrico what in bookkeeping is currently not automated but he thinks can be automated down the road. I was happy to hear about some of the things on their radar. Things like automating supporting schedules (ex: deferred revenues schedules, depreciation schedules, etc), further automating bill pay & automating parts of the communication aspects of bookkeeping as well.

1:02:24 – Enrico talks a bit about what’s next for Botkeeper in the accounting industry and how people can get in touch. Click here to learn more about the service.

Like this Botkeeper Podcast? Subscribe to the Future Firm Accounting Podcast: