I’ve spent some time recently analysing the software landscape for Accountant’s in Australia. Its been interesting, eye-opening and mind-boggling all at the same time.Read more
Recently I was asked by Xero to contribute an article to their blog on the year that was 2018.
This was the result:
It’s time the mid-market accounting technology space woke up and realised its 2018. In Australia, MYOB have handed them the “goose that lays the golden eggs” with their decision not to take Single Touch Payroll to MYOB Premier (see my previous article) and yet none of them are in a position to genuinely capitalise, because they aren’t even playing the same game as the likes of Xero and Intuit!
Where are the bank feeds? How about a solid ecosystem of best of breed add-ons? How about AI and machine learning? How about a modern, mobile optimised UI with decent UX design? Why are these the domain of “small business” systems like Xero and QBo at one end and “corporate solutions” like Workday at the other? What happened in the middle?
A recent experience with a client (which is representative of what is going on in the broader mid-market) has really “got my goat” and compelled me to speak out!
There’s been quite a stir around “the industry” over the last month about the churn of key people at Xero. First there was the “succession” of founder Rod Drury, cased in rumours and innuendo, that bears not repeating.
The concern for (not many) investors (judging by the share price since Rod’s departure) was the timing.
QB Connect Sydney – the review no-one else will write
OK, by now you’ve seen all the other posts, listened to all the podcasts – even if you weren’t at QB Connect Sydney, you have probably got a good feel for what transpired at the SCG on May 18.
Now it’s my turn. Time for the “Matt Paff altReview” treatment. You may have read my Xerocon 2016 review or my QBConnect US reviews (2015 and 2016). My approach is to avoid the excessive platitudes and focus on the constructive elements and call out the BS. So here goes:
Cloud Accounting – May 2017
May has been a BIG month for us Cloud Accounting nerds (and investors), with Sage, Xero and Intuit all reporting. Given the opportunity, I’ve had a high level look at the 3 results (+ MYOBs from Feb for comparison) and performed some analysis. #Interesting
I’ve spent so much time drinking coffee whilst talking about accounting technology that it was only a matter of time before a spurious correlation crept into my blog.
This article is an overview of my presentation at last week’s inaugural Accounting Business Expo: “Why Advisory won’t save you from technology”.
A Consensus View
Everywhere you look, it seems the world is telling accountants that compliance work is a non-growth future (at worst a dramatically diminishing business, brought to an end by government policy and technology). The answer, according to pretty much everyone, is operational advisory – helping clients with running better businesses. An entire industry has popped up to coach and help accountants “transition from compliance to advisory”. Technology has popped up everywhere, to systemise advisory, with report packs and standardised approaches for how you monetise the “enormous, under-serviced, advisory opportunity”.
In mid September I published an article: “XeroConSouth2016 – The review no-one else will write“. With the help of a response and tweet from Rod Drury, the article “went viral” (well relative my usual readership) and I managed to get a few extra views and likes than usual. A similar article on the biggest player in world SMB accounting tech, is a logical formula for me to follow. My mantra, go beyond the platitudes and compliments and critique the elements of the conference and strategy that warrant more in depth consideration – something I feel no-one else will do.
September 2016 AuNZ Cloud Accounting Update
Mark September 2016 in your calendars. It was the month when Artificial Intelligence (AI) officially went mainstream in SMB accounting tech. This month saw #XeroCon South in Brisbane and the MYOB Partner Conference Roadshow across AuNZ, both raising the future of “coding free data entry”.