WARNING: This article is heavily laced with opinions and is not suitable for consumption by those who are sensitive to strong views…
At the end of March, the ACCC released its preliminary findings into the proposed acquisition of Reckon’s Accountant’s division by MYOB.
2 documents were released:
In short, I find the media release ridiculous, poorly worded and off-point. The Statement of Issues, whilst not without some substance, shows a lack of genuine investigation, understanding of competition and technical wherewithal.
On the 16th of November it was announced that MYOB (subject to regulatory approval) had acquired the assets of Reckon’s Accountant’s Practice division for $180m. Over the past month, I’ve spoken to more people about the deal, than I care to count. Rarely at my instigation I might add. It seems everyone wants to talk about it! From people close to Reckon to big ticket clients, former staff, current staff and the average man on the street. I was even provided the opportunity of a private audience with senior MYOB execs in a no-holds-barred session in which they laid-bare their core strategies.
I’ve distilled my own thoughts, stolen some from others and now have my opinions and theory of what is to come. Here goes:
Ahhhh, its August, time to take a breath from the crazy time of year for those in accounting and payroll tech implementations and support!
This year, whilst GovernRight and vSure remain my primary focuses, I had the pleasure to work with a few clients on accounting and payroll tech selection and implementations. From a small NFP, to a professional services firm, to one of Australia’s largest hospitality groups, I’ve been lucky enough to be exposed to a broad cross-section of systems and put them all to the test.
For the second year in a row, I started the year with my crack at being a futurist, by publishing my predictions for the Biztech/AccountingTech industry for the year ahead. Unlike most other people who make bold predictions, again I am happy to hold myself to account and check-in on how I am going at the halfway point. I’m happy to proclaim my 2017 edition has already surpassed the accuracy of my predictions for 2016, and we’re only halfway through…
So here goes, my mid-year update with my current “gut-feel” probability of occurring in 2016, reviewing my predictions with the benefit of 6 months hindsight:
Happy EOFY to our east islands cousins!
As the calendar year 2017 marches on, the cloud accounting space keeps growing and growing. Had you have read my 17 Predictions for 2017 back at the start of the year, you probably weren’t too surprised by a couple of the big announcements this month.
So it’s the end of summer. NRL, Super Rugby and AFL are back. Cricket, Basketball and Soccer are all still on. And this year we have the added bonus of some gender equality sweeping professional sport (as well as accounting tech board rooms), with the W League and WNBL being joined by a new Netball league and the AFLW. As Bill Lawry would say, “it’s all happening”!
And its not just happening in the world of sport. Its only the end of February and 2017 has been a massive year already in the cloud accounting space! February was so jam packed with news, its taken some editing to keep the word count down, whilst leaving room for being forthright with my opinions, lest I cop some criticism for not being true to my brand like last month (cheers for keeping me honest Adam)!
At the start of 2016 I boldly put my pride and reputation as a budding futurist on the line by penning my article: 16 predictions for 2016 for the AuNZ biztech industry.
Before sitting down to write my 17 predictions for 2017, its only fair that review how I went with this year’s attempt!
Its been another busy month on the AuNZ Cloud Accounting scene. Conference season is over as the festive season approaches. From the big boys we’ve seen published results and investor days, staff changes and continued growth. And I managed to sit down with Daniel Rabie from Reckon to discuss my beef with their strategy.
In October, after a sudden rise in its share price (from hovering around $1.90 to highs of around $2.50) and rumours of a trade sale doing the rounds, Reckon confirmed it had engaged Macquarie Capital to help it “consider its strategic options“.
As rumours have continued to circulate on deals being done with both MYOB and Sage, the share price has stayed around $2.40.
If I were a betting man, and I am, I would be betting an announcement by Reckon is looming.