The Network Effect

Cloud Accounting Weekly #31

This past week at Accountex USA in Las Vegas, I had the privilege of presenting a session called Six Degrees of Xero, about how the cloud accounting network effect is enabling outsourced bookkeepers to once again occupy an important place at the center of our clients' businesses. Check out the coverage on the Xero blog and let me know your thoughts! 

I'm still working on compiling all of my takeaways from the conference. In the meantime, check out AccountingWEB's write-ups of Day 1 and Day 2, as well as a whole slew of video interviews with Doug Sleeter, Geni Whitehouse, Amanda Aguillard, and more.

Future of the Profession

Six Degrees of Xero: The Network Effect — Xero Blog

Cloud accounting is radically changing the role of the outsourced bookkeeper. Tech-savvy bookkeepers are becoming what I call "Information Systems Managers." We set up and maintain integrated systems, and oversee the flow of data among a variety of apps for our clients. By embracing technology, accounting professionals can put themselves once again at the center of the accounting cycle and therefore at the center of our clients' businesses.

Here's Why the Accounting Profession Is Broken — Fortune

One area where GAAP fails spectacularly is in tech. Because R&D must generally be expensed, but acquisitions are added to the balance sheet, companies that develop new products internally look to be doing far worse than those that purchase patents and other intangible assets from others.

App Updates

TSheets releases TSheets Kiosk

The new TSheets Kiosk works on any device with an internet connection — allowing you to instantly transform a tablet, smartphone, or computer into a digital time clock.

Deputy now integrates with ADP

Deputy, the employee scheduling and time tracking app, now syncs employees and time sheets with payroll provider ADP.

Streak CRM's new Google Contacts functionality

Streak CRM now supports Google Contacts

Streak CRM, one of my favorite CRMs integrated into Gmail, now supports Google Contacts as objects in Streak boxes.

Asana lets you create Trello-style boards

Trello lovers who are also fans of Asana - You're in luck! Asana now has a board-style layout option for new task lists.

Sort and filter your jobs in WorkflowMax for iOS

Now you can sort and filter your jobs in WorkflowMax for iOS.

Sales & Marketing

How to Spice Up Your B2B Blog if It’s Mind-Numbingly Boring — QuickSprout

Some excellent advice from the master of blogging for leads, Neil Patel: "While your blog shouldn’t come across as careless and sloppy, it shouldn’t be formal to the point of complete dullness either."

Podcasts

The future of banking is rapidly approaching — The Rod & Gary Show

If you like to nerd out about FinTech and Elon Musk's plans for world domination, you'll enjoy this podcast discussion between Rod Drury, CEO of Xero, and Gary Turner, Managing Director of Xero UK.

Practice Management

The New Definition of Customer Support — Helpscout

"When 86% of customers quit doing business with a company due to a bad customer experience, today’s subscription-model, customer-retention-oriented businesses need to approach every support interaction as an opportunity to acquire, retain or upsell as well."

Traditional Customer Service vs. The New Customer Support, via Helpscout

Reviews

Maria Sentic

Comparing Xero and QuickBooks Online — Insightful Accountant

Maria Sentic, CPA, takes an in-depth look at Xero versus QuickBooks Online two years after her first comprehensive review.

Security

VPNs Are for Most People—Including You — The Wirecutter

If you use public wifi hotspots, you should invest in a personal VPN to maintain your security online. Like the author, I use Private Internet Access — It's just $40 per year.

Thanks for reading! Looking to catch up on the news? Check out the previous issue, Cloud Accounting Weekly #30.

Blake Oliver

Los Angeles, California, United States