ScaleFactor Reviews & Insights

Score9.5 out of 10

8 Reviews and Ratings

Community insights

TrustRadius Insights for ScaleFactor are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Business Problems Solved

Scalefactor is a valuable tool for small businesses looking to streamline their accounting processes. Users have found that the software allows CFOs to focus on financial goals rather than getting caught up in daily data entries. Despite some glitches in the software, users appreciate the proactive troubleshooting efforts of the staff. This platform is particularly recommended for early-stage startups aiming to grow and scale. With Scalefactor, they can maintain clean books and gain peace of mind. However, some users have felt oversold on the product, experiencing poor execution that resulted in wasted hours correcting errors.

One of the standout features of Scalefactor is its responsive and helpful customer service. Customers have praised the support team for their attentiveness and willingness to educate them about accounting principles. The staff goes the extra mile to find answers to customers' questions and understand their business needs. Furthermore, Scalefactor provides greater visibility and facilitates good communication among teams, making it easier to collaborate on finances.

Users have found Scalefactor easy to use and appreciate how it simplifies tasks such as managing invoices, filing taxes, and importing bank statements. By using this software, small businesses can save on the expense of hiring a full-time accountant while maintaining accurate and up-to-date financial records. Onboarding has been efficient and painless for many users, with new features regularly added to enhance functionality. Scalefactor also caters to the needs of businesses by providing advanced accounting knowledge and integrating with various platforms.

In summary, Scalefactor serves as an outsourced bookkeeping, tax, and financial department for companies at a fraction of the cost of hiring in-house expertise. Despite some glitches and concerns about overselling, users have found value in this software's ability to systematize accounting processes, freeing up time for CFOs to focus on strategic financial goals rather than daily data entries.

ScaleFactor Reviews

5 Reviews

grow your business with flexible software

Rating: 9 out of 10

Incentivized

February 28, 2022

Use Cases and Deployment Scope

My company outsources a lot of accounting work, we do not have the resources to handle the work in-house and need to be flexible with our accounting and finance needs. ScaleFactor has been able to accommodate our needs and modify their ways of working to fit our organization. Their staff is very knowledgeable and willing to work with our accounting and finance staff to help tailor a solution to our business needs. My company has been using ScaleFactor for over a year, and I have been very pleased with the results.

Pros

ScaleFactor has been a great resource for me as I got my business off the ground. They have allowed me to focus on marketing and strategy while they handle my Quickbooks and other accounting needs. Great accounting and finance solutions that don't require you to hire an in-house staff
Presenting data clearly.

Cons

Chatbot not working well.

Likelihood to Recommend

ScaleFactor is a great option for small businesses looking for an outsourced bookkeeper for their accounting needs. I have been working with ScaleFactor for several months and am very happy with them. I was referred to Scalefactor by another business owner I know who has worked with them for over a year and is still very happy with their services. ScaleFactor is very flexible in crafting ways of working to fit your organization. Not a "one size fits all" approach. Able to tailor your specific accounting and finance solution.

John Tyagi

Marketing manager in Marketing at Rckcofficial (201-500 employees)

Vetted Review

2 years of experience

Simplifies Taxes as a great Plugin for Xero

Rating: 10 out of 10

Incentivized

February 17, 2022

Use Cases and Deployment Scope

I use Scale factor for my own LTD company, I use it as an addon / plugin to Xero. It helps simplify and speed up the whole process from managing invoices to filing VAT and corporation Tax. It connects to all my bank accounts bar Kent reliance for some reason super speeding up importing statements.

Pros

Connecting accounts, makes sure statements are always up to date.
Bulk transactions automatically matched for accounting purposes
helps keep on top of VAT so there isn't the mad panic every quarter

Cons

Could connect with All saving accounts i.e. Building society saving aswell as major banks.
When a connected bank or savings account hasn't been used for a month or 2 it could show a 0 transaction to keep it updated rather then saying "last updated 3 months ago"

Likelihood to Recommend

Scale factor helped my own LTD company though the making tax digital. Not sure it is still available but as an addon to Xero it was greatly helpful.

Verified User

Consultant (11-50 employees)

Vetted Review

2 years of experience

A flexible software, pulling from the best solutions already available

Rating: 9 out of 10

Incentivized

March 3, 2020

Use Cases and Deployment Scope

Utilizing it has an outsourced bookkeeping services as well as integrator of various platforms such as Gusto, Expensify, Bill.com, and QuickBooks Online.

It supports my need for advanced accounting and QuickBooks software knowledge. Typically an in-house bookkeeper has solid knowledge of either accounting or QuickBooks Online, rarely both. Add in the various other platforms being used and I highly doubt I would find an employee capable of working with all systems while maintaining accounting standards.

Pros

Advanced cloud based systems integration. Able to link up credit cards, banks, expense management 3rd party systems, payroll, etc.
Flexible in crafting ways-of-working to fit your organization. Not a "one size fits all" approach. Able to tailor your specific accounting and finance solution.

Cons

On-boarding was a bit rocky at first. Our company accounting practices needed some refinement in that they were a bit onerous. This led to some false starts as we worked with the ScaleFactor team to improve our internal processes and reduce the recurrence of custom QuickBooks accounting.
Software works great with top to mid tier financial institutions. Though lower tier or less advanced financial institutions can be problematic in their ability to port data into ScaleFactor. Not really a ScaleFactor issue, just a call out.

Likelihood to Recommend

I work with several businesses and have attempted to bring ScaleFactor into multiple. Thus far the business status/environment has been suitable for ScaleFactor only once, but I'll continue to look for more.

ScaleFactor is great when a company has matured beyond the owner making all accounting and banking entries. As soon as multiple systems are needed, it's likely a decent time to call ScaleFactor. I'm confident my operations could run through ScaleFactor for a long time as the next step for us would be something akin to NetSuite or some other more rigid enterprise solution.

Additionally, our business has a geographically displaced work force, typically working from home. Having access to all systems via the cloud has been great. No longer do we have to pass a specific computer back and forth for a physical computer software license. It's enabled maximum work flow convenience.

Kelly Graves

CFO (Chief Financial Officer) in Finance and Accounting at Independent Advisor (1-10 employees)

Vetted Review

1 year of experience

View profile

One of our strongest partners for 3+ years.

Rating: 9 out of 10

Incentivized

September 6, 2019

Use Cases and Deployment Scope

Across the whole organization. They function as our out-sourced bookkeeping, tax, and Financial department. It allows us to access talented experts as a fraction of what it would cost us to bring this expertise and work output in-house.

Pros

Delivering accurate financials quickly at the close of each month.
Getting small business's organized and set up for success.
Providing infrastructure and support at a fraction of the price of in-house talent.

Cons

Need to make sure they strike a balance between automation and hands on service.

Likelihood to Recommend

They are great at being an out-sourced solution for small business's that can't afford in house people to handle all of the functions that are needed, in addition to being a financial sounding board for small business's that are learning as they go. For larger organizations, they can slow the need to hire as many full-time people to help with scaling the business and re-direct those resources to other areas.

Verified User

C-Level Executive in Corporate (11-50 employees)

Vetted Review

4 years of experience

Growing company with a great service

Rating: 7 out of 10

Incentivized

September 6, 2019

Use Cases and Deployment Scope

Bookkeeping, sales analysis, and CPA for the entire organization.

Pros

Presenting data clearly with visual aids that are easy to read, modern and attractive.
One place for all my information, instead of looking at Quickbooks, sales analysis and reports in three different places.

Cons

Seems to be a constant turnover in my team at ScaleFactor, which means a lot of explaining what our business does and needs again and again. And that means a lot of emails, disorganization and phone calls (Taking my time).
Chatbot doesn't seem to work well. Never answers the questions I'm in need of for a quick answer!

Likelihood to Recommend

Suited for medium to large companies in need of bookkeeping and a CPA.

Verified User

Executive (1-10 employees)

Vetted Review

1 year of experience