2016 Review of SmartVault Document Storage

• Product offers excellent document management capabilities
• Client portals can be easily customized to reflect firm branding
• Online application offers easy anytime/anywhere document management capability
• Offers an excellent selection of resources for new users to take advantage of

Potential Weaknesses:

• May not be well suited to very large firms with more complex workflow requirements

SmartVault www.smartvault.com 866-674-6785

Basic System Functions 4.75 Stars

SmartVault is an online document storage application that also offers a secure portal feature for file sharing. The SmartVault Dashboard is where all activity is initiated from, and the interface offers quick access to system functions such as Clients, Send to Clients, Client Engagements, Employees, Internal Documents, Public Documents, along with other options. A navigation sidebar is also available, where users can quickly navigate between multiple options if needed. The product also offers integration with QuickBooks and QuickBooks Online applications, as well as Xero and FreshBooks.

Users can easily access stored documents from their desktop, Internet browser, or mobile device. SmartVault offers bank level encryption, and firms can also create a custom branded portal for clients to add a more professional touch.

Core Document Storage Functions 4.5 Stars

SmartVault stores all documents in a vault. Once a user creates a vault for a client, they can then add secondary folders to that vault as needed, with the ability to add an unlimited number of folders and sub-folders to each vault as needed.   Users can store multiple versions of a document, and can easily restore any document that may have been accidently deleted.

Users can easily scan and upload documents directly into the SmartVault Inbox, which works as an electronic holding bin. Users can later access the bin and retrieve the documents directly into the document storage area. QuickBooks users can install the patented SmartVault Toolbar that allows users to scan and attach documents to any QuickBooks entry. The product also offers excellent security options, with users able to password protect confidential files by assigning file access permissions, as well as specific levels within each file, such as read, write, edit, and delete permissions. The product also allows users to link related documents, and preview files directly from a web browser without downloading the document. SmartVault comes with nine default folder templates including Accounting Client, Payroll, Employee, Financial Services, Tax Engagement, and Wealth Management. Users can easily edit these templates to suit their needs, or add additional folders. Each folder created has a permissions option, where managers can set folder access permissions as needed. Folders that no longer are needed can also be deleted.

SmartVault also includes a series of email templates that can edited with custom text, and the Editor Bar Diagram offers users the ability to also add custom font types and size, as well as color if desired. SmartVault Drive allows users to map a drive directly to SmartVault files and folders, enabling users to easily work with documents without having to access SmartVault directly.

Documents can be scanned directly into SmartVault using a TWAIN compliant scanner. The product also supports both Fujitsu and Canon scanners as well.

Client Collaboration Tools 4.75 Stars

Firms can easily invite clients and employees to access documents stored in SmartVault. Documents can be accessed from any desktop, Web browser or mobile device, including both iPhone and iPad. Users can create a notification system that will automatically email a client when a file is ready to be downloaded. Firms can also receive an email from a client when they have uploaded a file that is ready to be accessed. All files can be previewed first, so users won’t spend a lot of time downloading the wrong file. All documents are securely encrypted and password protected. The Microsoft Outlook Plug-in allows users to easily and securely upload email attachments directly to SmartVault, while also allowing users to send secure links to stored documents instead of document itself; adding another level of security. The product also offers a series of activity reports that provides details on file access, including who has accessed the document and when.  

Integration 4.5 Stars

SmartVault offers completely integrated document management and client portal functionality. SmartVault integrates with both QuickBooks and QuickBooks Online as well as both Xero and FreshBooks. SmartVault also offers a series of apps that will integrate with the product including Intuit Lacerte and ProSeries,ACCTivate Inventory Management, Results, FileThisPro, and Hubdoc.

Support/Help 4.75 Stars

The Resources option on the SmartVault website offers an excellent selection of tools for product users, including blogs, webinars, and featured articles. The Support option provides quick access to a variety of topics that provide in-depth detail. Users can also access the support knowledgebase, open a case, check on the status of a case, and access their account if needed. A Getting Started guide is also available to access or download. Chat, telephone, and email support is included in the monthly subscription cost.

Summary & Pricing

SmartVault is an excellent solution for firms using Intuit products, as well as those using FreshBooks and Xero Accounting products. Available as an online subscription service, offers a Tax Prep version for $20 per user per month. The Accounting Pro version is $35 per user per month, and is suitable for most small to mid-sized firms. There is also an Enterprise version of the product, with pricing available upon request. A Data Migration Service is also available, with pricing starting at $199. A free-30 day trial is available, with no credit card needed.

2016 Rating – 4.75 Stars