Blake and David are LIVE at QuickBooks Connect in San Jose discussing the new and upcoming features announced at Day 1 of the annual conference (Accountant Day).
What’s new with Sage Intacct from the Intacct Advantage conference in Nashville; David has joined the AutoEntry team as their Principal Technology Evangelist; results from the 2018 Intuit Average Billing Rate Survey; three key steps that accounting teams can take to attract and retain the industry’s top talent; and the dark side of accounting expertise
Only 53% of accountants' clients are ready for the UK's "Making Tax Digital" launch in 6 months; two entrepreneur speakers advise other entrepreneurs never to outsource accounting (and why); the FBI warns that hackers are targeting Remote Desktop Protocol connections; 6 things your remote accountant policy should probably include; and how to protect your firm from risk of outsourced CFO engagements
Blake and David reconnect to talk about what's new in the worlds of QuickBooks and NetSuite. Intuit is discontinuing their QuickBooks Desktop Advanced ProAdvisor Certification — could this be the beginning of the end for desktop? Meanwhile, NetSuite is soaring according to the latest Oracle quarterly results. Also, blockchain is no longer a much-hyped theory. Walmart will require all its suppliers of leafy greens to use IBM's blockchain to track its supply chain starting in 2019. For this and more, listen to Episode 38!
Levi Morehouse of Ceterus outlines how technology is shaping two future career paths for accountants; Jeff Bezos shares how he structures his day to be most effective; PwC launches a “Digital Accelerators” program to future-proof staff; Garrett Wagner explains how a focus on billable hours drives Millennials away from your firm; Sage Intacct reveals acquisition and integration of Budgeta for FP&A into the Intacct product; the Trump Administration’s proposed tariffs on China could increase costs for cloud computing services; and Intuit now supports tokens for bank feed authentication.
David is back from his well-deserved vacation and ready to discuss Sage’s sudden move to oust Stephen Kelly as chief executive. Chairman Donald Brydon reportedly said, “We need to get a CEO that has SaaS in their veins.” Kelly joined Sage four years ago with a mandate to shake up the company, but despite the acquisition of Intacct, he has apparently been unable to turn things around quick enough for the board. Sage is facing increased competition from Xero on its home turf in the U.K and has been unable to gain market share against juggernaut Intuit in the U.S.
CPA Practice Advisor has announced their annual “40 Under 40” in the accounting profession for 2018, Jason Andrew makes the argument that accounting firm partners are essentially franchisees, Ryan Lazanis blogs about a guy who is probably the most remote cloud accountant in the world, FASB has simplified GAAP for cloud computing, and how Square could be the disruptor that makes cryptocurrency payments go mainstream.
Brad Smith is stepping down as CEO of Intuit after 11 years, Deutsche Bank is worried about Xero and Intuit stealing Sage Groups core mid-market business, Thomson Reuters has released its own cloud accounting software for small businesses, and how Xero made a big mistake by coming to the U.S. before conquering the rest of the world.
Blake and David chat about three things this week: 1) A 15-year-old is the new Microsoft Excel world champion, 2) How businesses are failing to help employees keep up-to-date with their digital skills, and 3) the risk of performing Client Accounting Services (CAS) (AKA outsourced accounting) in public accounting firms that aren't equipped to manage client expectations when it comes to the scope of services offered.