The implementation process for IRIS Elements typically follows a structured, phased approach to ensure a smooth transition. The time frame can vary depending on the size of the firm, complexity of existing systems, and specific modules being adopted. For most small to medium-sized firms, full implementation may take anywhere from a few days to a few weeks.
Implementation Process:
Initial Consultation and Needs Assessment: The process begins with an evaluation of your business needs, current processes, and goals to determine the best setup and configuration of the software.
Data Migration and System Configuration: Data from legacy systems is migrated into IRIS Elements, which may include client records, tax data, and compliance documents. The system is then configured to match your organizational structure.
Customization and Setup of Modules: Based on your requirements, different modules (e.g., AML, Practice Management, Accounts Production) are activated and customized during this phase.
User Training and Onboarding: Training sessions are conducted for your team to familiarize them with the platform’s features and functionality. This may be done through webinars, workshops, or self-service resources.
Testing and Go-Live: A testing phase ensures all data and workflows are functioning correctly. Once confirmed, the system goes live, and support is provided during the initial usage phase.
Post-Implementation Review: After going live, a review is typically conducted to evaluate the setup and address any user feedback or
Customisation
Yes, IRIS Elements is designed with flexibility and modularity in mind. It caters to accounting and compliance-focused firms and can be customized to meet varying operational requirements, workflows, and client service models.
Customization Options:
Modular Design: Users can choose from various modules such as AML, Tax, Practice Management, and others, enabling businesses to implement only what they need.
User Roles and Permissions: The system allows administrators to set up specific user roles, permissions, and access levels to suit internal control policies.
Workflow Customization: Workflows can be adjusted to match how your team operates, including task assignment, review processes, and client communications.
Branding and Templates: Some elements such as client-facing reports and templates can be branded and tailored to reflect your firm's identity.
Integration with Other Tools: IRIS Elements supports integration with other business tools (e.g., accounting packages, document management systems), allowing seamless data flow and enhancing productivity.
API Access (if available): Advanced users or larger firms may utilize API access (if provided) for bespoke integrations or automation of specific tasks.
Additional Costs
While the core pricing for IRIS Elements often follows a subscription-based model, additional costs can apply depending on the scope of use, number of users, and service requirements. Understanding these costs upfront is important for budgeting and long-term planning.
Typical Additional Costs:
Setup Fees: A one-time setup or onboarding fee may apply, especially if professional services are used for data migration or system configuration.
Module-Based Pricing: Each module (e.g., Tax, AML, Practice Management) may carry its own cost, allowing you to scale according to your needs.
Training Costs: Basic training may be included, but advanced or custom training sessions may incur extra charges, especially if delivered on-site or personalized.
Support Charges: Standard support is usually included in the subscription, but premium or priority support packages may be available at an additional cost.
Maintenance and Updates: Ongoing maintenance, updates, and upgrades are typically included in the subscription; however, custom features or enhancements may carry development fees.
Third-Party Integration Costs: If integrations with other software systems are needed, these may come with separate licensing or implementation costs.
User Licenses: The number of active users can affect pricing, with tiered structures based on user count or type (admin, standard user, etc.).
Training
IRIS Elements offers a robust range of training and support options to help new users get up to speed quickly and effectively. The company aims to ensure users are confident in using the platform through structured training programs, self-service resources, and ongoing technical support.
Training and Support Options:
Onboarding Assistance: Dedicated onboarding specialists may guide new clients through the initial setup process, ensuring that software configuration, data migration, and user access are correctly implemented.
Live Webinars and Training Sessions: Regular live webinars are provided to introduce users to the software’s core features, demonstrate best practices, and address frequently asked questions.
Online Knowledge Base: A comprehensive library of help articles, how-to guides, and video tutorials is available for users to explore at their own pace.
Interactive Walkthroughs: In-app guided tours and tooltips help new users navigate key features when they first log in, improving the learning experience.
Dedicated Account Managers (for certain plans): For larger or enterprise clients, dedicated account managers may be assigned to provide personalized support and training.
Email and Phone Support: Access to technical support via email or phone is provided, with response times depending on the support tier chosen.
Community Forums and User Groups: Users may participate in community-driven forums or user groups to exchange insights and solutions with peers.
Security Measures
IRIS Elements incorporates industry-standard and advanced security measures to protect sensitive data, in line with compliance and regulatory requirements for financial and accounting professionals. These measures are designed to secure data at all levels: in transit, at rest, and during user access.
Security Measures:
Data Encryption: All data is encrypted both at rest and in transit using strong encryption protocols (such as AES-256 and TLS), ensuring that data cannot be read by unauthorized parties.
Two-Factor Authentication (2FA): Optional or enforced 2FA adds an extra layer of protection during the login process by requiring a second verification step.
Role-Based Access Controls (RBAC): Permissions and access levels can be finely controlled, ensuring users can only access the data relevant to their role.
Regular Security Audits: Routine internal and external security audits are conducted to identify and mitigate vulnerabilities in the system.
ISO and GDPR Compliance: IRIS Elements adheres to recognized security standards such as ISO 27001 and ensures compliance with data protection regulations including GDPR.
Secure Data Centers: The software is hosted in secure, regionally distributed data centers that provide physical security, backup power, and disaster recovery protocols.
Automated Backups and Recovery: Regular backups are automatically taken and stored securely, with defined disaster recovery plans in place to ensure business continuity.
Session Timeout and Monitoring: Automatic session timeouts and monitoring of suspicious activities help protect user accounts and prevent unauthorized access.
Updates
IRIS Elements follows a proactive and user-focused update cycle, with frequent software enhancements rolled out automatically via its cloud infrastructure. These updates are designed to deliver new features, improve performance, and maintain high security standards without burdening the user.
Update Process and Frequency:
Frequent Incremental Updates: Minor updates and patches are released regularly—often on a monthly or bi-weekly basis—to ensure optimal performance and resolve minor issues quickly.
Major Feature Enhancements: Substantial new features or platform upgrades are typically introduced quarterly, reflecting user feedback and evolving industry needs.
Automated Cloud Delivery: As a fully cloud-based platform, all updates are delivered automatically, without the need for manual downloads or installations.
Advance Notifications: Users are informed of upcoming changes through email alerts, release notes, or in-app messages that outline the features or improvements.
Change Logs and Release Notes: Each update is accompanied by detailed release notes that describe what's new, what’s improved, and any resolved issues.
User Feedback Integration: The development roadmap is influenced by client feedback, with prioritized improvements based on user suggestions and reported needs.
Minimal Downtime: Updates are deployed with little to no downtime, typically during low-traffic periods, ensuring business operations are not disrupted.
Testing and Quality Assurance: All updates undergo rigorous internal testing and may include phased rollouts or pilot testing with select user groups before full deployment.
Data Ownership and Portability
IRIS Elements maintains a clear and transparent approach to data ownership and portability. As a software provider serving professionals in accounting, tax, and compliance sectors, it adheres to legal and ethical standards to ensure that client data remains the property of the user, and it offers reasonable mechanisms for accessing and exporting that data.
Data Ownership and Portability Policy:
User Ownership of Data: All data entered into the IRIS Elements platform by the user or their clients remains the legal property of the user. This includes client records, financial data, reports, and documentation.
Right to Access and Export Data: Users have the ability to access and export their data at any time. The platform typically allows data extraction in standard file formats (e.g., CSV, PDF) to ensure it is usable outside the system.
Data Export Tools: Built-in tools or admin dashboards are available to facilitate full or partial data exports. This is especially useful during transitions to another system or for backup purposes.
Retention of Data After Termination: After service termination, data may be retained for a specified grace period (e.g., 30 to 90 days), during which users can still access or retrieve their data before permanent deletion.
Data Portability for Migration: If users wish to migrate their data to another platform, IRIS Elements typically supports this process with downloadable files or by providing structured data formats to aid migration.
Compliance with Regulations: Data handling practices, including ownership and portability rights, comply with relevant data protection laws such as GDPR, which enforces user control over personal data.
Assisted Data Transfer (upon request): For complex migrations, IRIS may offer support or professional services to assist in transferring data securely and accurately.
Third-Party Data Sharing Transparency: Any data sharing with third-party services (e.g., integrations) is clearly defined, and data is not used or sold without user consent.
Scaling Up / Down
IRIS Elements offers scalable licensing and module-based pricing, allowing organizations to adapt their usage of the platform based on changing business needs. Whether expanding operations, onboarding new team members, or reducing services, the platform supports flexible adjustments without long-term disruption.
Scalability Terms and Flexibility:
Modular Subscription Structure: IRIS Elements is built around a modular system, allowing users to add or remove functional components (e.g., AML, Tax, Practice Management) as their needs evolve.
Flexible User Licensing: Organizations can increase or decrease the number of active users based on staffing changes. Licenses are usually billed per user or in usage tiers, with adjustments reflected in the next billing cycle.
On-Demand Scaling: New features, users, or storage capacity can typically be added with minimal administrative effort via the user portal or through account management support.
No Long-Term Lock-In (subject to plan): Depending on the contract type (monthly vs. annual), clients may have the flexibility to scale services up or down without penalties or long-term commitments.
Custom Plans for Larger Firms: For enterprise-level clients, IRIS often offers custom contracts with tailored terms to accommodate unique scaling needs, such as bulk user licensing or multi-entity setups.
Billing Adjustments and Proration: Changes in usage mid-cycle are usually managed through proration—meaning customers are only billed for what they use, adjusted in the next invoice.
Pause or Downgrade Options: Some plans may offer temporary pauses or downgrades for seasonal firms or during low-activity periods, reducing operational costs.
Support During Transition: IRIS provides support when scaling, such as onboarding assistance for new users or training when adopting new modules.
The terms & conditions for contract renewal and cancellation
IRIS Elements offers flexible subscription options that typically include monthly or annual billing. The terms for contract renewal and cancellation vary slightly depending on the type of plan selected. The platform aims to provide transparency and fair notice periods, while minimizing disruption for users who choose to discontinue or adjust their service.
Contract Renewal and Cancellation Terms:
Automatic Renewal: Subscriptions generally auto-renew at the end of each billing cycle (monthly or annually) unless the user provides prior notice of cancellation.
Notice Period for Cancellation: For monthly subscriptions, users can typically cancel at any time with a short notice period (e.g., 30 days). For annual contracts, a longer notice period (e.g., 60–90 days) may be required before the renewal date.
No Long-Term Commitment for Monthly Plans: Monthly plans offer greater flexibility, allowing users to cancel without long-term commitment or exit fees, subject to standard notice periods.
Cancellation Process: Cancellations must usually be submitted in writing—either via email, support ticket, or through the client portal—depending on the provider’s procedure.
Access to Data Post-Cancellation: Users typically retain access to their data for a limited grace period after cancellation (e.g., 30–90 days) to allow for data export before permanent deletion.
Refunds and Pro-Rata Billing: Refunds are generally not issued for early termination of annual plans unless stated otherwise in the contract. Monthly plans may offer pro-rata billing in certain cases.
Downgrade Instead of Canceling: Users may choose to downgrade their plan or reduce features/users instead of full cancellation, allowing continued access at a reduced cost.
Written Terms Supersede Defaults: Custom contracts or enterprise agreements may include bespoke terms for cancellation, renewal, or notice, which override the standard terms.
Termination for Breach: IRIS retains the right to terminate the contract immediately in cases of breach, such as non-payment or misuse of the system, as outlined in the license agreement.
Compliance
IRIS Elements is designed for use by financial professionals, accountants, and firms handling sensitive client information. As such, it complies with key legal and industry regulations related to data protection, financial reporting, anti-money laundering (AML), and IT security. These compliance measures help ensure the software is suitable for regulated industries.
Key Compliance Standards Met:
GDPR (General Data Protection Regulation): IRIS Elements is fully compliant with GDPR, ensuring lawful processing, storage, and transfer of personal data for users and their clients, including rights to access and delete data.
ISO/IEC 27001: The software provider adheres to ISO 27001 standards for information security management systems, covering risk management, data protection, and continuous monitoring practices.
UK Anti-Money Laundering (AML) Regulations: For firms using the AML module, IRIS Elements complies with UK AML legislation, supporting customer due diligence (CDD), ongoing monitoring, and recordkeeping obligations.
Data Protection Act (UK): The software complies with the UK Data Protection Act, aligned with GDPR, to maintain lawful data processing and individual privacy rights.
HMRC Compatibility: IRIS Elements supports compliance with HMRC requirements, including Making Tax Digital (MTD), ensuring that digital submissions meet the legal reporting framework.
Financial Conduct Authority (FCA) Guidelines (where applicable): For features touching on financial reporting or regulated services, the platform is designed to adhere to general FCA guidance where applicable.
Audit Trail and Logging Compliance: The software includes audit logging features to meet compliance requirements for accountability and transparency during financial and regulatory audits.
Regular Internal Audits and Updates: Compliance practices are continuously reviewed and updated to align with changing regulatory frameworks and to maintain certification standards.
