Cloud Accounting Weekly #39
Aaaannnd we're back!
Please enjoy this XL-sized issue of links from February, March, and April.
CPA Practice Advisor — Deloitte has acquired the assets of Day1 Solutions Inc. (Day1), a cloud consulting firm, which Deloitte says will allow it to provide clients with an advanced set of analytic and cognitive capabilities to enable their digital transformation.
WSJ — Check out this piece in the WSJ (subscription required). It sounds like the next revolution in manufacturing will be... cloud platforms! Perhaps soon fixed assets will depreciate themselves.
Digital First — Do you need an ERP? Maybe not. Cloud accounting is making it possible to scale with small business accounting software further than ever. For example, Australian e-commerce company Kogan used Xero and Unleashed, an inventory management app, to push through *$170 million* in annual revenue. No expensive ERP required.
WIRED — "Between accounting professionals and truck drivers alone, about 4.5 million human jobs could be ceded to robots over the next few years."
Thriveal CPA Network — Here are nine strategies to make your career robot-proof, courtesy of Greg Kyte.
AccountingWEB — Ryan Watson argues that "accountants won’t be replaced by robots, but they will work alongside them leveraging fully-integrated suites of AI-powered SaaS applications to perform everyday tasks."
CFO Journal — "Large companies reduced by 43% the number of full-time employees in financial departments' back offices between 2004 and 2016."
Digital First — Here's how Chris Hooper of Accodex uses Xero to analyze and combat fraudulent activity.
Xero Blog — "As Co-owner and General Manager of IGTech, a telecom service provider in Morganville, New Jersey, [Gary Shapochnic] has gained freedom by leveraging a suite of iOS apps to manage jobs, his workforce and accounting."
Gusto — Now you can assign Gusto departments to Xero tracking categories, eliminating the need to manually tag each transaction. In addition, you can simplify your Chart of Accounts by removing team-specific accounts in Xero.
FloQast — The new module helps accounting organizations uncover bottlenecks in their month-end closes and identify trends to streamline and better manage the process.
FUTRLI - The dashboard and analytics app adds support for embedded video and full screen presentation mode. Also, more formatting options for text cards, and a simplified Search & Discover. And you can now export your data to Excel and retain the same beautiful formatting.
Accountex Report — Greg Lam gives a positive review to Receipt Bank, one of my favorite cloud accounting tools: "Getting around felt intuitive and user friendly — I didn’t have to go searching for anything. I like that while the system allows you to have fine grained control over what it does, it is always easy to make the choice — yet without overwhelming you with so many choices as to be confusing."
Accountex Report — Greg Lam reviews Hubdoc, the killer app for fetching client documents automatically from online banking, utility accounts, Amazon, and much more.
Thriveal CPA Network — If you want to build a firm that "runs without you," you have to spend a significant amount of time on strategy
Receipt Bank — Here are some pithy tax season tips from David Cristello, Darren Root, Kacee Johnson, and myself.
CPA Practice Advisor — In my latest article, I argue that if you want to build successful and long-lasting client relationships, you should focus on improving workflows.
Thanks for reading! Looking to catch up on the news? Check out the previous issue, Cloud Accounting Weekly #38.