Becoming a Subscription Economy 

Cloud Accounting Weekly #34

Here are the top links I clicked on this past week.

Top News

Will All Companies Go to a Subscription Model? — "In the almost five-year time frame monitored by the SEI, the 'subscription economy,' ... has grown 900% faster than sales per share among S&P 500 companies, 420% faster than U.S. retail sales, and 500% faster than the U.S. economy."


The future of automation and accounting

Accounting Today — Don't miss my latest article on Accounting Today about how automation is transforming accounting and bookkeeping. I should know! In just 5 years I went from working as a low-wage hourly bookkeeper to billing substantial monthly fixed fees as a virtual controller for my clients. All made possible thanks to automation through cloud accounting technology.

Just for Fun

Where did the name Xero come from?

Xero Blog — I've always wondered but never thought to ask where Rod Drury got the idea to call his cloud accounting software "Xero." No, it wasn't after the eponymous, short-lived DC comic book superhero.

Software Updates

Example of approval routing rules in Abacus

Abacus — Approval routing rules

Abacus Blog — Abacus now lets you set detailed rules to route expenses to the right approver automatically

ApprovalMax — Multi-currency POs sync to Xero

Intuitive Accountant — Now you can create foreign currency POs in Xero via ApprovalMax. Using Xero and need a more robust approval process? Check out ApprovalMax. Create Purchase Order, Vendor Bill, Sales Invoice and Credit Note approval workflows without having to give users access to Xero.

Deputy — New and improved manager notifications

Deputy Blog — Now you have new options in Deputy for who to notify about changes to employee shifts, such as employees who are late or employees swapping shifts.

New shift notifications options in Deputy

FloQast's dashboard for outsourced accounting firms

FloQast — New Features for Outsourced Accounting Firms

Looking for a solution to manage recurring client work in your outsourced accounting practice? Check out FloQast. They recently released a new set of features tailored to accounting firms, including a global dashboard and per client pricing.

Gusto's new employee hapiness survey

Gusto — Survey tool to help companies measure employee happiness

VentureBeat — Gusto launched a new feature called Employee Happiness Surveys. It allows admins to send out monthly questionnaires through emails to team members. Employees can take the survey in just two clicks, and companies will receive an analysis of results and trends.

Receipt Bank — Multiple mode

Receipt Bank Blog — "This new feature allows you to take up to fifty snaps at a time, removing the need to re-open the camera for every new photo. As soon as it is taken the picture is already processing – it’s that easy."

Sales & Marketing

New for Tax Firms: TaxVid

TaxVid is a new subscription service that makes it easy for tax firms to offer short 1-3 minute videos to their clients on common tax questions. For $155.40 per year, get a branded version of 5 videos to share with your clients. Individual videos can be ordered for $59.95 each.


The Steps to Protect Your Accounting Firm From Cyber Attacks

Jetpack Workflow — The #1 security threat to accounting firms has nothing to do with technology. Listen to this podcast episode to find out what it is, and what steps you can take to protect your firm from cyber threats.

Practice Management

The Best Password Managers

The Wirecutter — After 15 hours of research and testing, The Wirecutter selected LastPass as the best password manager for most people. Most of its features are free, so there's no reason why you shouldn't be using it!

Thanks for reading! Looking to catch up on the news? Check out the previous issue, Cloud Accounting Weekly #33.