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.
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:
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
2016 reinforced that life doesn’t always pan out the way one (even the experts) might rationally expect…
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!
My Sage Preconceptions
Up until this point, my admittedly narrow assessment of Sage has been less than rosy. I saw them as a huge, reactive, disjointed company who thought they were in the acquisition and investment business rather than innovative technology space. I saw a company potentially headed the way of Kodak, from a major leader to irrelevance by not understanding what market they were in.