BetterCo client onboarding process for tax advisors (DATEV context)

1. Goal and scope

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The onboarding process describes the end-to-end procedures for taking on a new client on the BetterCo platform.
It is designed for tax firms that use DATEV as their central system for client management and accounting.

The process consists of two main phases:

1. Lead capture (optional)
2. Client onboarding (mandatory)

The lead capture phase is divided into 5 sub-processes.

1. Initial inquiry to capture the prospect's basic master data, profile and goals
2. Independence check to check the independence of potential tax advisory engagements against a list of audit clients
3. Initial meeting to capture further data in a conversation and make an initial assessment of the prospect
4. Proposal preparation based on the StBVV (German tax advisors' fee schedule) or your own service packages, plus proposal confirmation by the prospect
5. Conversion of the prospect into a client, with data enrichment where needed to automatically determine the UBOs

The client onboarding phase is divided into 5 distinct sub-processes.

1. Creating the client in DATEV
2. KYC/ReKYC & onboarding to capture master data, documents, legal representatives, beneficial owners (UBOs) and acting persons
3. Risk assessment to run compliance checks (sanctions, PEP and adverse media lists), documentation and risk classification
4. Identification and signature to identify the acting person and sign relevant contracts
5. Monitoring to track changes in registers and on compliance lists as well as the validity of ID documents

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2. Workflows

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In BetterCo, the activities associated with each phase are mapped as workflows (processes). Workflows can be external or internal

• External workflows (e.g. initial inquiry, master data capture, VideoIdent, ...) can be shared with clients (to confirm or enter data)
• Internal workflows (e.g. independence check, risk assessment, face-to-face documentation) are visible internally only and are carried out by firm staff. They cannot be shared with clients

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The following table describes the key workflows available in the various phases

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3. Lead capture phase

3.1 Overview

The lead capture phase covers capturing and qualifying a prospect and converting them into a client, and is divided into 5 distinct sub-processes.

1. Initial inquiry to capture the prospect's basic master data, profile and goals
2. Independence check to check the independence of potential tax advisory engagements against a list of audit clients
3. Initial meeting to capture further data in a conversation and make an initial assessment of the prospect
4. Proposal preparation based on the StBVV (German tax advisors' fee schedule) or your own service packages, plus proposal confirmation by the prospect
5. Conversion of the prospect into a client, with data enrichment where needed to automatically determine the UBOs

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3.2 Entry points:

• The prospect completes the Initial inquiry workflow on the website.
  
  
• Alternatively, after a phone call, the prospect receives a link to the same workflow from the firm.
  
  

3.3 Process:

The administrator can configure which workflows are automatically created in the matter when a prospect is created (e.g. initial inquiry, initial meeting).

1. Initial inquiry is submitted by the prospect.
   
   
2. Mandatory: Independence check (not yet available)
   
   • Checks the independence of tax clients against audit engagements.
   • If the result is negative: process is terminated.
     
     
3. Optional: initial meeting with the following options
   
   
   • With client: capturing further information with the client
   • Internal: assessing the engagement by potential and risk (acceptance or rejection)
   • Internal: preparing the proposal and acceptance of the proposal by the prospect.
     
     
4. Proposal preparation
   
   
   • Selecting service packages
   • Calculating the proposal by adjusting the services in the selected packages
   • Sharing the proposal with the client
   • Client: accepts the proposal
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5. Mandatory: converting the prospect into a client
   
   
   • Directly via the client menu
   • via the initial meeting workflow
     
     

3.4 System behavior:

• When a prospect is converted into a client, a new client is always created (linking to an existing client is currently not possible)

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4. Client onboarding phase

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4.1 Overview

This phase begins as soon as a client has been created in BetterCo – either by converting a prospect, creating a client directly or importing a client from DATEV.

The administrator can define which workflows are automatically created in the matter when a client is created.

The client onboarding phase is divided into 5 distinct sub-processes.

1. Creating the client in DATEV
2. KYC/ReKYC & onboarding to capture master data, documents, legal representatives, beneficial owners (UBOs) and acting persons
3. Risk assessment to run compliance checks (sanctions, PEP and adverse media lists), documentation and risk classification
4. Identification and signature to identify the acting person and sign relevant contracts
5. Monitoring to track changes in registers and on compliance lists as well as the validity of ID documents

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4.2 Entry points

• Conversion of the prospect into a client
• Creating a client directly.
• DATEV import
  
  

4.3 Process

The administrator can configure which standard workflows are automatically created in the matter after conversion (e.g. Basic onboarding, Tax KYC & onboarding, Risk, On-site identification, ... ).

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1. Creating / updating clients in DATEV - There are 3 different situations, controlled by the BetterCo DATEV Connector. Note: it runs every 15 minutes (so a transfer may take this long)
   
   
   1. Creating a client's master data in DATEV -
      A client was created in BetterCo and their master data is to be transferred to DATEV
      
      • User selects “Release for export” for the client (client is set to “Block export”)
      • DATEV Connector transfers the master data, including addressees, to DATEV
      • After a successful transfer, the DATEV Connector sets the client back to “Release for export”
   2. Updating a client's master data in DATEV -
      A client's master data was updated in BetterCo and the updated master data is to be transferred to DATEV
      
      • User selects “Release for export” for the client (client is set to “Block export”)
      • DATEV Connector transfers the updated master data, including addressees, to DATEV
      • After a successful transfer, the DATEV Connector sets the client back to “Release for export”
   3. Transferring documents from BetterCo workflows to DATEV
      Every BetterCo workflow generates documents. As soon as a workflow is completed, the documents generated by it are automatically transferred to the designated folder in the DATEV DMS.
      
      • User completes a workflow, or the workflow is closed automatically by BetterCo
      • DATEV Connector automatically transfers the documents generated by the workflow to the DATEV DMS (note: it is not necessary to “release the client for export”)

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We recommend running this workflow to transfer the initial master data record and documents such as the register extract and list of shareholders for legal entities, or ID data, to DATEV.

Workflow

Description

Purpose

Steps

Onboarding - basic master data

Captures minimal master data

Required for quick creation in DATEV while KYC & onboarding runs in parallel

Run workflow

Complete workflow

Set client to release for export

Set up a further KYC & onboarding workflow

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2. Onboarding & KYC -
   
   
   
   1. You need to decide how the master data will be captured. The following table shows the alternatives

Workflow

Description

Purpose

Steps

Tax KYC & onboarding

Captures tax (incl. tax number and bank details) & legally required KYC master data and documents

Onboarding and KYC for a tax engagement

Run KYC & onboarding workflow

Legal KYC & Onboarding

Captures legally required KYC master data and documents

Onboarding and KYC for a legal engagement

Run KYC & onboarding workflow

2. Which further onboarding workflows should be shared with the client?
   
   • SEPA mandate firm
   • SEPA mandate tax office
   • Tax office power of attorney
     
     
3. How should the workflows be shared with the client?
   
   • Is each workflow shared separately?
   • Are all workflows to be shared shared via a digital workbook?
     
     Use the following information:
     
     1. Email templates for sharing links
     2. Video showing how to send links from Outlook and
     3. Video on how to share a digital workbook with multiple workflows and

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3. Risk assessment to run compliance checks (sanctions, PEP and adverse media lists), documentation and risk classification.
   
   
   
   1. The risk assessment covers the following activities
      
      • Selecting the GwG context (which regulated industry and which catalog transaction is affected) - what triggers the KYC (e.g. new client, periodic review)
      • Screening relevant client contacts against sanctions, PEP and adverse media lists
      • Assessing the risk by answering questions
      • Classifying the risk and the associated steps

Minimum requirement for starting the risk assessment: beneficial owners, legal representatives and acting persons must be known

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4. Identification and signature to identify the acting person and sign relevant contracts
   
   
   
   1. You need to decide how the master data will be captured. The following table shows the alternatives

Workflow

Description

Purpose

Steps

On-site identification (in person - face-to-face)

In-person identity verification at the firm.

Face-to-face verification and documentation of the acting person's identity.

Run KYC & onboarding workflow

Video identification Verifeye

Online identity verification via a third-party provider

Digital identification of the acting person via the VideoIdent procedure of the provider Verifeye (account must be activated once by BetterCo)

Run KYC & onboarding workflow

2. Should contracts be signed electronically with the client? There are 2 options
   
   • Simple electronic signature of an uploaded contract via Docusign
   • Configuring contract templates with placeholders and electronic signing
     
     

5. Monitoring to track changes in registers and on compliance lists as well as the validity of ID documents
   
   
   
   1. Companies are currently monitored centrally
   2. Compliance lists are monitored via the Risk Flow or the menu Clients -> Compliance Screening
   3. Monitoring of ID documents is controlled automatically via the expiry date

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