Get started

Streamlining Entity Onboarding: A Deep Dive into IdentityCheck’s Solution for Accounting Firms

Onboarding Multiple Directors

Onboarding a new entity is a task familiar to every accounting firm, yet it comes with its own set of challenges, especially when multiple directors are involved. The traditional process is not just time-consuming; it’s a logistical nightmare. From collecting details from the primary contact to individually verifying each director’s identity, the manual workload is immense. Accountants have to juggle obtaining ID documents, possibly arranging verification calls, tracking progress, and securely storing sensitive information. For an entity with five directors, this can consume up to half a day’s work.

The Manual Maze of Onboarding

The traditional onboarding process involves several painstaking steps:

  1. Collecting Information: Gathering details from the primary contact.
  2. Reaching Out: Contacting each director individually for their ID documents.
  3. Verification Calls: Optionally, setting up calls to visually verify identities.
  4. Tracking Progress: Monitoring who has submitted documents and who hasn’t.
  5. Secure Storage: Deciding where to securely store these documents or notes of verified identities, especially when they’re tied to a business entity rather than an individual.

This process is not only time-consuming but fraught with potential for errors and security risks, making it a significant administrative headache for accountants.

IdentityCheck: Revolutionizing Director Onboarding

IdentityCheck introduces a streamlined, efficient solution with its onboarding forms, transforming a half-day task into a matter of clicks. Here’s how it works:

  1. Initial Contact: The primary contact receives a link to an onboarding form.
  2. Director Declaration: The form allows the primary contact to list directors by name and email.
  3. Automatic Extension: The form adjusts based on the number of directors.
  4. Secure Verification: Each director is sent a private link for ID verification, which they can complete in 20 seconds using a government-issued ID and a selfie.
  5. Automated Reminders: If a director doesn’t complete the verification, reminders are sent out automatically.
  6. Progress Tracking: Internal notifications and a dashboard allow for real-time tracking of each director’s verification status.
  7. Flexible Data Management: Verified details can be stored within IdentityCheck or updated to your preferred CRM or practice management solution.

The Benefits Accountants Love

With IdentityCheck, accounting firms can enjoy:

  • Significant Time Savings: What used to take half a day now requires just a click.
  • Reduced Risk: The automated process minimizes manual data entry errors.
  • Enhanced Oversight: Real-time observability is provided through dashboards and notifications.
  • Accelerated Onboarding: The streamlined process means faster onboarding times.
  • Improved Conversion Rates: The ease of the process leads to higher onboarding success rates.

Getting Started with IdentityCheck

For accounting firms looking to escape the manual onboarding maze, IdentityCheck offers a compelling solution. Its innovative approach not only saves time but also enhances security and oversight, making it an essential tool for modern accounting practices. To explore how IdentityCheck can transform your entity onboarding process, start a free trial or book a demo.

In an era where efficiency and security are paramount, IdentityCheck stands out as a beacon for accounting firms navigating the complex waters of entity onboarding.

More Posts


Stay connected to StackGo

Related Posts