CPA Practice Advisor - 11

DOCUMENT STORAGE: REVIEW
Cloud Cabinet from AccountantsWorld www.accountantsworld.com
Cloud Cabinet from AccountantsWorld is best suited for small
to mid-sized accounting firms.
Cloud Cabinet can be used as a
stand-alone document management application, but works best
when coupled with other AccountantsWorld applications.
Completely cloud-based, Cloud
Cabinet offers online document
storage capability as well as an unlimited number of

SmartVault Document Storage
SmartVault offers complete online
document storage, branded client
portals, and secure file sharing.
A good fit for businesses and
accounting firms of any size,
SmartVault is scalable, with two
plans: SmartVault for Business,
and SmartVault for Accountants.
Multiple options are available
in each plan. SmartVault also
includes a custom plan option for very large and

STRENGTHS:
* S eparate plans available for
businesses and accountants
* S upports multiple scanners
*W
orks from any type of
device
POTENTIAL LIMITATIONS:
* Connected Desktop feature
only available in Professional
plan
* B oth Team and Professional
plans require a minimum
number of users

Drake Documents

2020 OVERALL RATING

4.75

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21153456

files. In addition to automatically transferring documents to Cloud Cabinet from within AccountantsWorld,
users can easily transfer documents directly into Cloud
Cabinet from other third-party applications.
Those interested in Cloud Cabinet can contact
AccountantsWorld directly for pricing information or
to view a demo.

www.smartvault.com
enterprise level organizations.
SmartVault is easily accessible using a variety of
devices including desktop computers, smartphones,
and tablets. The application also includes a PDF printer
feature that allows users to convert any document to
a PDF and then save it in SmartVault.
The Connected Desktop feature is where the
majority of document management activity takes
place. With the Connected Desktop, users are able
to upload, download, scan, edit, generate, and send
documents for any client.

2020 OVERALL RATING

offers two plans, OfficeTools Online, which is practice
management on the cloud, and OfficeTools WorkSpace,
which integrates with tax preparation applications,
making it a terrific option for accounting professionals.
OfficeTools DMS can be deployed on-premise or
hosted in the cloud. The application also includes a
mobile app that works with both iOS and Android
smartphones and tablets, with an optional client
portal available as well. OfficeTools DMS supports
numerous file formats, with all documents stored in
their native format. There is an option to convert any

www.CPAPracticeAdvisor.com/
21153460

2020 OVERALL RATING

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21153458

retails for $1,595; the Power Bundle, which includes Drake
Accounting Pro, and runs $1,695; and a Pay-Per-Return
option for those that process fewer than 15 tax returns
annually, which starts at $330, with additional returns
extra. Drake Documents is included in all three plans.

OfficeTools WorkSpace Document Management www.officetools.com
OfficeTools WorkSpace Document Management
System (DMS) is part of OfficeTools, a practice management application that combines CRM, project
management, and time and billing
STRENGTHS:
* B oth on-premise and cloud into a single application. The DMS
accessible applications
offered in OfficeTools is part of the
available
*O
ffers a mobile app for both main application and is designed
iOS and Android devices
to work exclusively within the
* Includes an add-on portal
option
application, and is not available
POTENTIAL LIMITATIONS:
as a stand-alone document man* Is only available for
agement application. OfficeTools
OfficeTools users

Read the full review for
this product online at:

Plan prices range between $16 to $40 per user/per
month, with each plan including an unlimited number
of guests. All plans offer a free 30-day trial. There
is an Enterprise plan available for larger businesses
with pricing available upon request from SmartVault.

www.drakesoftware.com
correspondence directly into the application. Drake
Documents offers two document storage options: the
Archive Cabinet, where all historical client documents
outside of the tax program are backed up and stored,
and the Working Cabinet, which is designed to be used
with tax program documents, storing documents within
the tax program.
Drake Documents is included with the purchase of
Drake Tax, and is not sold as a stand-alone document
management application. Drake Tax offers several plans
to choose from, including Drake Tax Unlimited, which

Read the full review for
this product online at:

2020 OVERALL RATING

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21153459

saved document to a PDF if desired.
OfficeTools WorkSpace DMS is not available as a
stand-alone document management application, so
those interested should be using OfficeTools Cloud
or OfficeTools WorkSpace. OfficeTools Cloud starts at
$49 per user/per month, and pricing for OfficeTools
WorkSpace is available directly from the vendor.

SEPTEMBER 2020 ■

www.CPAPracticeAdvisor.com

ADDITIONAL SYSTEMS

Drake Documents is one of the
workflow tools offered by Drake Tax.
Best suited for small to mid-sized
accounting firms, Drake Documents
is included as part of Drake Tax
and is not offered as a stand-alone
document management application.
Drake Documents is available as an on-premise application, with an optional Drake Hosted online backup utility.
Drake Documents allows users to save client files
such as source documents, tax returns, and other

STRENGTHS:
* E xcellent solution for Drake
Tax users
*G
ood integration with
third-party applications
POTENTIAL LIMITATIONS:
* C annot be used as a
stand-alone document
management application

client portals that can be used to share and exchange
documents with clients. For those looking to move
toward a paperless office, Cloud Cabinet can play a
major role in reducing the number of physical documents in the office.
With cloud access, staff and firm administrators
have easy access to stored documents from any location
with an Internet connection. Cloud Cabinet supports all
file formats, including Microsoft Word, Excel, and PowerPoint; it supports common file types such as TXT and
Zip files, as well as QuickBooks file formats and image

DOCUMENT STORAGE SYSTEMS

STRENGTHS:
* S trong integration with
other AccountantsWorld
applications
*O
ffers an unlimited number
of portals at no additional
cost
* A nytime/anywhere cloud
access
POTENTIAL LIMITATIONS:
* B etter when used with
other AccountantsWorld
applications

http://www.accountantsworld.com http://www.CPAPracticeAdvisor.com/21153456 http://www.smartvault.com http://www.CPAPracticeAdvisor.com/21153460 http://www.drakesoftware.com http://www.CPAPracticeAdvisor.com/21153458 http://www.officetools.com http://www.CPAPracticeAdvisor.com/21153459 http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

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