How Dime Stacks Up Against Karbon

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If you’re an accounting firm looking to optimize your operations, chances are you're interested in finding the best practice management software. Today, we’re looking into two options for you: Dime and Karbon. Both offer quite a roster of impressive features that will sure boost your firm’s productivity & efficiency. 

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While the two share similarities, there are some stark differences. Starting from the fact that Dime is much more AI-driven & focused on CPA firms, full-service accounting, tax, and bookkeeping firms with teams of three or more professionals. While Karbon is esteemed for its collaborative features; however, it falls short in terms of technical capabilities for producing trial balances.

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Unfamiliar with both? Want to understand more on what accounting practice management software is & its benefits? Feel free to read our other post: https://www.joindime.io/blog-posts/accounting-practice-management-software-2024 that gives a comprehensive overview of the topic as well as an intro to top players in the space. 

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In this article, we’ll be covering all of the most important features of Dime and Karbon & explore how they compare and contrast.

Snapshot of Dime vs. Karbon

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Workflow Automation & Project Management

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By deploying automations in firms, it frees up time for accountants, allowing them to focus on the most important responsibilities like analysis and advisory roles. On the other hand, with these specialized automation tools embedded within work management software, accountants can streamline a myriad of processes. All the way from data entry to complex financial workflows. Not only does this enhance efficiency and accuracy but also unlocks opportunities for deeper insights and proactive decision-making, ultimately driving organizational success and unlimited growth. 

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What Are the Similarities?

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• Third-party Integration: Have systems in place to transfer data & information seamlessly among platforms. Both have integrations with QuickBooks.
• Automated Triggers & Logic: Ability to establish coherent interdependencies among various tasks & activities, ensuring the work done is executed accurately and efficiently
• Customized Work Templates: Offer an array of templates tailored to individual needs such as the most frequently used workflows & processings
• Developed Client Portal: A centralized place to streamline all collaboration with clients through integrated workflows encompassing task management and document sharing

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What Are the Differences? 

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Dime

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• Document Analyzer Enhanced with AI: Leverages advanced algorithms and machine learning techniques to provide a robust summary & detailed insights into the documents in the matter of minutes
• Comprehensive Trial Balance: Easily generate a comprehensive set of financial reports, which includes trial balances, balance sheets, cash flow statements, and supporting schedules. All of this at a lightning speed and accuracy with the most informed decision-made. 
• Additional Integration with Tax Software: This is coming soon! We’re looking to enhance connectivity and interoperability of firms by giving more options to  integrating with top leaders in the tax software fields. 
• eSignature Collection: This is also coming soon! Get forms & documents signed digital  from clients ASAP. 

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Karbon

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• Global Search: Everything is searchable, nothing remains hidden within the organization. Easily locate any piece of information, document, or communication across any channels.
• Mobile App: User-friendly and simple to find any tasks and messages as needed.
• Job Estimates: Info on what it takes to complete the task on hand given the time and budget outlined by the organization and client. 

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Team Collaboration

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Team collaboration is essential for accounting firms to foster seamless communication, thereby improving workflows and enhancing efficiency across all processes and workflow. By utilizing the power of an advanced practice management software, firms can increase their knowledge sharing capabilities at an alarming rate. 

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What Are the Similarities?

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• Internal Mentions & Notes: Ability to tag any team members and clients with any comments through smart user notifications.
• Timeline for Activity: Past history of emails, notes, tasks, and interactions associated with any project or client.
• Task Checklists: Everyone has access to a flexible checklist, helping them understand their role and can monitor overall progress. Tasks and subtasks can be assigned, tracked, and prioritized, preventing anything from being overlooked.
• Email Actions: Assign emails to individual members, helping to free up inboxes. Also can add internal discussion notes directly within emails, when relevant.

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What Are the Differences? 

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Dime

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• Advanced Tagging & Grouping: Easily group & tag any accounts within trial balance for team members to do further analysis.
• More Email Features: Send emails to any client, yourself & team when tasks are completed or when documents are received. 

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Karbon

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• Organization: Kanban Board & Work Scheduler: Monitor and enhance the progress of all ongoing tasks within your team. Set recurring work deadlines on automated schedules when needed.

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Time and Billing

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Time tracking is crucial for accounting firms to optimize resources. By budgeting and monitoring time for each client and task, it opens up opportunities for them to adjust pricing structures in proportion to various work demands. This helps ensure fair charges and competitiveness that propel increased efficiency & accountability.

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What Are the Similarities?

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• Flexible Payment Options: Configure credit card or ACH billing options for every client.
• Invoice Customization: Add personalized your logo and branding to customize how information is presented to clients.
• Timing of Billing: Able to set up time-based, recurring, or fixed payment plans. 
• Time Tracking with Timesheets: Utilize an on-platform timer to track time for all clients or tasks. Individuals can go back and review, modify, and authorize time logs before sending an invoice.

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What Are the Differences? 

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Dime

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• Financial Statements and Reports: Detailed insights into the financial health (income statements, balance sheets, cash flow statements, etc…) of clients. All of this is leveraging advanced data and reporting tools to deliver informed documents to help make informed decisions. 
• One-Time Payment Links: Generate secure links through credit card or ACH

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Karbon

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• Karbon Payments: Has its own internal payment system where individuals can administer, receive, and monitor payments seamlessly.
• API Solutions: Gather insights from billing data by leveraging the flexibility and power of custom API solutions. 

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Dime vs. Karbon Pricing

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Dime offers very transparent pricing! There are three pricing tiers (pro, business & enterprise). 

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More details below:

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Karbon has three pricing tiers (team business & enterprise). 

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More details below:

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As you can see, pricing is similar. Dime has slightly more competitive pricing especially when it comes to monthly plans.

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Let’s Chat!

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Having examined Dime and Karbon, now you have a better sense of which solution aligns best with the needs of your practice. If you are interested in exploring all the advanced AI features & trial and balance function, let’s hop on a call.

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We’ll give you an in-depth walk through of our product and answer any remaining questions you have. Book a product demo with us: https://www.joindime.io/#demo.