I’ve taken the crazy step to post this month’s AuNZ Cloud Accounting update on a weekend – a social media no-go zone/black hole for content. There’s just going to be too much to write about over the coming days and weeks, I just had to get this out today!
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”.
The rules of Blogging state that positive articles get more Reads, Likes, Tweets and Shares than critiques (unless you’re Matt Barrie from Freelancer and hitting onto a meme that connects like his crack at the Sydney lock-out laws #NannyState).
The accounting software conference season is upon us, with Xerocon, QB Connect, MYOB Partner Conference all hot on the heels of Sage Summit. Apart from the likes of Clayton and Wayne racking up even more frequent flyer miles and social media posts, what can we expect from these events? Much of the same I expect. I don’t see any major announcements being likely.
I had the pleasure of attending my first Xero AGM this morning. With the share price up 6.5% today, I wasn’t the only one who got swept up in the positive vision, confidence and passion that was presented!
Whilst there wasn’t a lot of new information above and beyond the already released Annual Results (which I wrote about in my subsequent article), I took a few tasty titbits away that I thought were interesting:
Building a global business $30 at a time
I jumped off a plane last Thursday morning after an overnight flight back from Asia, turned on my phone and had throughout the day a flood of SMS; Emails; LinkedIn Inmails; Facebook Messenger messages; Tweets and voicemail messages all asking my opinion on Xero’s full year results.
At first it was – how awesome, some people want to know what I think – they’ve actually been reading my blog. 🙂
Then, wow, how awesome is the Xero brand?! People have so bought into the company and what they are doing that they care about stock market announcements – something most don’t concern themselves with in their day-to-day lives.
This coming Thursday the 12th of May will see Xero release its Full Year results for 2015/16. As a shareholder and eager amateur commentator, I’m quite keen to see what they have to say.
Those of you that have read some of my previous articles (like 7 Xero Xero k and Xero+Q3=?), will know that I have raised concerns regarding Xero’s growth trajectory since the release of their Q3 cash flow report.
Xero announced 400,000 subscribers 11/12/2014.
174 days later, on 3/6/2015, they announced 500,000 subscribers.
119 days after that, as at 30/09/2015, Xero announced 593,000 subscribers in their half year results.
Understanding where Accounting Tech has been, to foresee the future
At the recent MYOB Incite, apart from playing semantics around “Disruption vs Transformation”, CEO Tim Reed espoused the line: “Today Defines Tomorrow”. I’d go a step further: I am a firm believer in understanding the past to navigate the future. In this article, I’m going to review from whence we came, so that I can shine a light on where I believe the accounting tech industry is at, and where we are heading.
I’ve been analysing the recent “Appendix 4C Quarterly Cash Flow Report” from Xero. No matter how I slice and dice the reported revenue number, compared with the last couple of years, this recent number just doesn’t fit.
- Q3 (NZ Fin. Year, October-December) revenue was announced at $52.607m
- That’s $4.416m (9%) up on Q2