Canopy, an integrated practice management solution for accounting practices, has enhanced its product offerings with the introduction of two new features to better tackle some common issues in the areas of pricing, services, and management of work. These new additions to its services include “Capacity Planning” and “Engagement Packages.”
Capacity Planning offers real-time team workload insight in the very environment of Canopy Workflow. By leveraging a drag-and-drop board experience, law firm management can immediately view the allocation of work to team members and then direct the workload to the most suitable people in a matter of seconds. With the help of Capacity Planning, the law firm can eliminate the risk of using a manual workload process and thus avoid any delay in the delivery of work on a predictable timeline.
The second collaboration, Engagement Packages, aims at improving the way law firms scope and price their engagements. The tool utilizes a balanced three-tier model—good, better, best—and allows law firms to better align their engagements to the specific needs of their clients. Law firms that implement this model are estimated to boost their average revenue per engagement by 20% to 30%, without the threat of scope creep. The law firm’s agreements with their clients are thus made robust and scalable revenue streams using Canopy.
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“These enhancements further emphasize what we know firms are counting on us for – clarity, efficiency, and confidence,” Canopy VP of Product Hanna Bjornn explained. “Capacity Planning enables better decisions by firm leadership, and Engagement Packages provide firms with a more profitable way to deliver value, both taking friction out of firm operations so that accounting professionals can continue to serve clients.”
This represents Canopy‘s ongoing commitment to creating a modern, enterprise-wide operating system for the accounting industry. This integration allows firms to manage the entire engagement cycle, ranging from scope and price to staffing and completion, in one connected system. This is made possible with the integration of capacity management and pricing solutions into the system.
