IRIS Elements

FAQs

• Why has IRIS developed IRIS Elements?

  Accountancy practices are under pressure to modernise. As a result, they are overwhelmed by a technology revolution, a reduction in available talent and economic uncertainty. We wanted to create a new accountancy platform to help them solve these key issues, in a landscape that includes:

  Governments that are rapidly deploying digital processes to increase efficiency

  Government is moving faster towards digitisation because of the cost savings and efficiency it brings – that pace of change will continue alongside compliance requirements 

  Customers are increasingly dependent on technology for their business and are comfortable deploying it to run their business

  New clients and businesses are tech-savvy so there is pressure to modernise in order to compete and unlock new business opportunities. Clients work from anywhere and need consistent service delivery, so need agile accountancy services and instant access to data and information to help inform their business decisions

  New entrants to the workforce expect a technology experience closer to their own personal usage, raising issues on talent recruitment and retention

  There is a predicted shortfall in accountancy and finance staff over the coming years so there is pressure to compete and attract new employees with the right skills

  New staff want to work in modern tech environments so there is a pressure to change the work environment and create an engaging workplace for employees

  Practices want to grow in three core areas:

  Growth of the client base (practice size)
  Grow the revenue per client (profitability)
  Grow the wellbeing of the practice (balance)

  We have developed IRIS Elements so to help firms solve these issues and positively progress their goals, whether they be goals for growth, productivity or client satisfaction. 

• How is IRIS Element different?

  IRIS Elements is not a product or service, but a client-centric adaptive platform providing a rich inventory of services customers can adopt at their own pace. This represents a significant change not only in the way customers work with IRIS but also in the way we’ll develop solutions.

  Rather than starting with a product development roadmap that is set in stone, it is our customers who are defining which modules and apps are developed and when these are needed.

  Included in the first phase of IRIS Elements, is the Anti-Money Laundering (AML) module as our customers have told us compliance with the legislation eats up valuable time.

  Our AML tool will automatically run eight separate checks including identity validation, electoral roll checks and sanctions screening with results available in seconds, making it simple to validate a person’s identity, so accountants have more time to focus on the consultancy aspects of their role.

• How will IRIS Element help solve my problems?

  The answer is in the design of IRIS Elements which acknowledges that no two practices are the same. One set of carbon copy accountancy tools will not solve the impact of all these changes for every practice.

  Every accountancy business will have different goals they want to achieve and different pressures they need to address. By creating a platform that allows accountants to cherry pick the services that suit their business we are facilitating their growth. By ensuring all these apps seamlessly share data, we are improving their ability to become true business advisors to their clients, using information to help them make the best decisions for their businesses.

• How much money are you spending on development?

  We’ve made a significant investment in the development of IRIS Elements, over £30 million to date. We have new specialist teams in our Manchester and Langley offices dedicated to building this platform.

• When will IRIS Elements be available?

  We have foreseen the need to move quickly and have make a significant investment in its development. We have new specialist teams in Manchester and Langley dedicated to building this platform.

  We have a timeline for components such as practice management to be migrated to IRIS Elements, but as we are working with customers on the roadmap, the precise availability will be determined by their needs.

• Are you stopping development of desktop apps?

  No.  IRIS Accountancy Suite (and other desktop apps) will continue to be developed and enhanced for the foreseeable future.  IRIS Elements provides choice for those accountants who want the latest technology today to enable them to progress their goals in new ways, but not all practices are ready (or want to) to move to the cloud and this is why we will continue the development of our desktop apps.

• Will you migrate customers off desktop applications?

  No. IRIS Elements works in harmony with IRIS Accountancy Suite allowing firms to adopt at their own pace.

• Can I only use IRIS Elements with my IRIS Accountancy Suite

  The first release of IRIS Elements will liberate your practice data for the next generation of cloud based apps. In due course similar functionality will be available with other compliance software.

• Will it span more than accountancy?

  The core construct of Elements is that we unify the technology. All the metrics and technology developments we discuss come from accountancy but are applicable to payroll, HR and other financial systems.

• Can third parties integrate their own apps and services to IRIS Elements?

  Yes.  IRIS Elements is built on a layer of APIs that will enable any third party or accounting firm to choose which apps and services they want to integrate.  We will make these APIs available as they are requested.

• How will IRIS Elements help me

  We are developing a series of solutions to bring greater efficiencies to the lives of accountants in practice. We are starting with the beginning of the customer journey to make the onboarding of clients easier. If you have any  recommendations/suggestions our product team would love to hear from you. Email us now at elements@iris.co.uk

• How do I get involved?

  To be part of the Agile Customer Design groups, please contact elements@iris.co.uk, or speak to a representative at the launch.