How to solve the problem of late payments
Ten days ago I focused Daily Insight on the upward trend of late payments and the consequences for small businesses and, by extension, accounting software providers.
One of this year's Accountex exhibitors has set up to address this specific problem for SMEs. They are Solna and they will be on stand 320 at ExCeL next week. In the meantime, here's an excellent infographic they have produced. It illustrates how small firms are hit by the problem of late payments.
US market opportunities webinar
Our friends at Accountex USA have partnered with Kacee Johnson, one of the top 25 thought leaders in accounting, to bring technology vendors looking to penetrate the US market a deep dive session on the massive landscape and potential opportunities.
In this session, Kacee will review:
- The current market opportunity.
- Segments of the profession.
- The do's and don'ts of selling to U.S. firms.
- The potential of accountants as a sell-through channel partner as well as sell-to end user.
We will also identify the top pain points of U.S. accounting firms over the next 3 years, and key technology categories that have the highest rate of adoption currently, as well as forecasted growth.
Webinar: Developing Your U.S. Go-To Market Strategy.
Date: Wednesday, 16 May.
Time: 2-3pm.
Presenter: Kacee Johnson, MBA - CEO and founder of Blue Ocean Principles.
Sign up here.
'As Virginia Woolf said: a woman must have money and a room of her own'
Caroline Plumb, founder and CEO of Fluidly, talks to Accounting Insight editor Ian Moss about her life and accounting times.
The here and now….
What are your favourite early career memories, Caroline?
Starting a business aged 21 and pretending we had a switchboard, building the first computers, finding my first customers and growing it! Oh and beckoning over Richard Branson in a restaurant to ask for business advice....
How did you get into this business?
After running my first business for 15 years I was fed up with late payments, forecasting cashflow on spreadsheets and receiving endless offers of finance when all I wanted was better working capital in the form of my debtors paying! I also really missed technology having studied engineering and always loved knowing how things worked, so I spotted an opportunity to use data and AI to predict and optimise cashflow and decided to start another business! (I’m still non-exec in my first, but it’s grown so much it really didn’t need me any more!)
What can accountants and finance professionals learn from you, in a nutshell!?
I’ll be sharing what AI is - demystifying some of the terminology like machine learning or deep learning - and talking about how we can put it to practical use in finance and accounting. Plus hosting a panel with awesome speakers like Heather Townsend, Paul Bulpitt and Steven Kühn on the role of real-time for advisory.
Does the idea of information overload concern you?
There is such a lot of information today but I find it exciting knowing that an answer is out there! You certainly don’t have to know it all or feel overloaded - the skills that matter today are about knowing what you don’t know (and how to find out the answer) and having curiosity to experiment and explore new ideas.
What’s on the horizon for you and the sector?
New capabilities powered by new technology! At Fluidly we like to think we’re building an autopilot for business finances. Autopilots continuously monitor all sensors, plot a course, dynamically optimise and alert to upcoming threats. Importantly, they don’t take away from human pilots - they are always in charge and always required - but they provide new powers and possibilities. I think systems of intelligence like Fluidly will do the same for business finances - starting with getting paid faster and forecasting cashflow.
What are your expectations for Accountex 2018?
Bigger and better than ever before I’m sure! There’s so much happening now, unlocked by new services and more access to data. Exciting times ahead!
Early Days
Where did you grow up?
Manchester
Were you any good at maths at school?
I love maths! And I went on to study engineering at university which used a lot of maths in a more pragmatic way.
Trivia/Miscellany
What’s your favourite film? (you’re allowed more than one)
Impossible to even narrow it down, not least because I’m hopeless at remembering films and their plots. I’m more of a Netflix box set girl!
What’s your favourite book? (you’re allowed more than one)
My favourite business book lately is Play Bigger by Al Ramadan and others. It’s a great book on category creation and disruptive innovation.
What’s your favourite type of music?
Anything I can do ridiculous dancing to late at night with friends.
What’s your ideal day out?
By the sea with my family and kids throwing stones in the water and looking for pretty shells.
What’s your ideal holiday?
Multiple ideal days out (see above!) in a row!
Is money the root of all evil?
As Virginia Woolf said - a woman must have money and a room of her own.
Do you support a football team?
The Claygate Royals U7s
Caroline will be delivering a session on AI at Accountex on Wednesday 23 May at 12noon, and taking part in a real-time advisory panel discussion on Thursday at 3pm.
James Ashford's Accountex battle plan
Author, speaker and founder of GoProposal James Ashford presents his five high-energy tips for getting the most out of your trip to Accountex 2018
Focus on accountants' wellbeing ... and National Numeracy Day
One of the Accountex 2018 sessions I'm particularly looking forward to is the panel discussion called "Can Women Have it All?"
The panel will be chaired by Catherine Morgan, FCA. She will be joined by: Isabelle Campbell a consultant, trainer and coach; Laura Dymott, a forensic accounting and investigations team manager; and Sally Hemming a senior manager of employee relations at EY.
The remaining member of the panel is Kath Haines, chief executive, CABA.
Charity that focuses on wellbeing
CABA, I discovered after a bit of googling, stands for the Chartered Accountants' Benevolent Association.
It is the charity that focuses on the wellbeing of members of the profession.
Kath, below, tells Accounting Insight News: "We’re really happy to be exhibiting at Accountex again this year. Our team of CABA experts will be on
hand at stand 1146 to discuss our services, share top tips and ideas on how to look after your own wellbeing.
Free neck and shoulder massage
"We'll also be offering free mini back, neck and shoulder massages to help delegates feel calm and relaxed as well as giving out some goodies, too!
"I’m personally delighted to be part of an interactive panel, discussing the burning question, ‘Can women have it all?’ ."
"This is a really thought provoking topic, and I’ll be sharing my own personal experiences on the hurdles I’ve had to overcome, how women can support each other and what we can do together to help bring about change. I’ll also be joined by an excellent panel for this discussion."
CABA has recently launched a range of courses looking at wellbeing issues such as lack of sleep, mindfulness for busy people, self-awareness and improve their careers.
Accountancy sector can be intense
The charity's learning chief Laura Little, says: “Working in the accountancy sector can be intense, and can occasionally require long hours, to meet workplace commitments. When this becomes a regular occurrence, it’s easy for our work-life balance to tip too far towards work, which can ultimately have a negative effect on our physical and mental health.
"Our new courses are designed to help ACA students, ICAEW Imembers and their families feel more in control of what’s happening, and what’s set to come."
Check in with CABA at Accountex...
It's National Numeracy Day!
On the subject of wellbeing and education, here's a headline that simply cannot be ignored, especially if you are an accountant (and presumably handy with figures): "Britons’ lack of numeracy ‘subtracts £20bn from the economy."
Leaving aside the excellent/shockingly awful (delete as appropriate) pun, that seems like an awful lot of money. Which is why it's a relief that next Tuesday is National Numeracy Day.
Supported by the likes of KPMG and NatWest, the campaign's basic message is that you're never too old learn new mathematical tricks.
And this is good news because National Numeracy, the charity running the day, reckons that poor number skills and lack of arithmetical confidence is one of the reasons the UK is struggling in the productivity stakes. Hence the lost billions. They say 17 million people having the number-crunching ability of a primary school child.
And best of all there's an online test here!
You should find it a breeze!! Have a great weekend!
'As I get older I forget so much that information overload is never a problem!'
Researcher, author and practice strategist (plus chartered accountant), Steve Pipe talks to Accounting Insight News Editor Ian Moss about his life and times.
The here and now….
What are your favourite early career memories, Steve?
Passing my professional exams (because they were the hardest thing I have ever done).
How did you get into this business?
With two degrees in economics I would have loved to have been an economist. But I wanted to get married more. And since there were no jobs for economists in Wakefield (where my wife to be worked), I went into accountancy instead.
What can accountants and finance professionals learn from you?
That accountancy is a noble profession that can (and should) use its skills with numbers to make life better for our clients, our communities and the wider world.
Does the idea of information overload concern you?
As I get older I forget so much that overload is never a problem!
What’s on the horizon for you and the sector?
Before I retire in a couple of years I will be giving all my remaining intellectual property away, and setting up a not-for-profit foundation to help the profession globally have an even bigger impact.
As an influential voice, what impact do you want to have on the industry this year and in the long run?
I want to help accountants generate better results for themselves, their clients and the wider world.
What are your expectations of Accountex 2018?
I hope to catch up with old friends, make new ones, learn and be inspired.
In a nutshell, what’s the role of an accountant in society!!?
To help clients use better data to make better decisions, that lead to better results and better businesses, that help us enjoy better lives, all of which helps to create a better world.
Early Days
Where did you grow up?
Not sure I have yet (but Watford was where I spent my childhood).
Were you any good at maths at school?
According to my exam grades I guess I must have been.
Trivia/Miscellany
What’s your favourite film? (you’re allowed more than one)
All the classic Disney cartoons, since they remind me of my childhood.
What’s your favourite book? (you’re allowed more than one)
The Harry Potter books, because I will always cherish the time I spent reading them to my three children.
What’s your favourite type of music?
Blues guitar (which I play really badly)
What’s your ideal day out?
Anywhere with my family
What’s your ideal holiday?
A long one!
Is money the root of all evil?
Not at all. The more you have, the more good you can (and should) do in the world.
Do you support a football team?
I have supported Watford since I was a lad with a milk crate and wooden rattle on the terraces.
Do you have a heroine or hero?
Paul Dunn. He has done an extraordinary amount of good for the profession and the world. And I am so proud to have him as a friend.
How do successful firms go with the cash flow?
Successful business owners seemingly have one thing in common, they proactively manage their cash flow and address the key issues that can improve it.
Growth Street CEO Ciaran O’Donnell is a virtual finance director who works with many early stage businesses across a number of sectors. Most of the successful businesses he has worked with have similarities when it comes to their attitude and management of cash flow.
Managing cash flow
So, how do those successful businesses manage their cash flow?
They can have a clear visibility of their future cash flow and address the issues which maintain visibility and improve their cash flow
Ciaran suggests asking and addressing the following questions:
- How much cash or investment is required to get my business cash flow positive?
- When do I run out of money?
- Does my business need funding during certain months of the year?
- How can I change my working capital cycle to have more cash in my business?
- How can I grow my business? Will I be able to do so with my own cash or will I need to borrow or raise investment?
They can make better decisions
Successful businesses may have a better understanding of their current cash position and can make better financial decisions, for example, both short term and long term planning.
Ciaran noticed that successful businesses keep a close eye on their cash position, plus, the day-to-day operations (closely reviewing management accounts and/or cash flow forecasts). By maintaining that visibility they are well-placed to make decisions that don’t hurt the cash position or future cash flow of the business. Ciaran has seen some businesses rush into making poor decisions that hit their cash and financial positions.
They can push for better payment terms with customers and suppliers
Successful businesses may also know when and how to lean on major suppliers for extended credit terms. One client who worked with Ciaran leant on six of their major suppliers who agreed to stretch payment terms from 30 to 90 days for almost 12 months as the business was going through two separate investment rounds.
Ciaran adds: “This helped our immediate cash flow significantly and the net-payables position for almost a year as key suppliers were keen to retain our business. The suppliers we leant on had sufficient financial strength themselves to offer the extended credit terms. Don’t be afraid to ask!”
Additionally, negotiating shorter payment terms with customers or, taking immediate payment (whether that’s cash, credit card or debit card) helps businesses achieve a healthier cash flow. Ciaran says: “Another client completely changed their customer payment model and moved everything to online payments and direct debits. The business no longer had to chase customers for payments and also shortened their collections process by 45 days!”.
They tie-less money up in stock?
Stock can quickly tie up cash and impact your cash flow. Ciaran mentioned one rapid growth business that was unaware it had £100,000 in closing stock which was approximately six to eight months of sales at their current sales rate: “We conducted a relatively simple piece of analysis and calculated that we could implement a better buying and production process to operate with more efficient stock levels. Today, as the business continues to grow, order lead times are shorter, stock levels are lower and savings on bulk purchases will be considered as the business grows, but until then the business has less cash tied up in stock.”
They don’t always offer early payment discounts to customers
“Offering a discount to a customer for a quicker payment can benefit your short-term cash flow”, Ciaran tells us, “however, bear in my mind that discounts can significantly reduce your profit margins. It is worth considering what other options you have to raise short-term finance as there may be more cost-effective ways available to you.”
Growth Street will be at Accountex 2018 on Stand 1120.
Why and when do accountants partner with alternative lenders?
My conversations with accountants are rarely the same. As a senior account manager for online business lender Spotcap I travel across the UK meeting practitioners of all sizes and focus areas. One day it can be a small practice specialising in corporate finance in Leeds, the next a large firm in London offering auditing, tax related advice and assurance services.
We have conversations about their business, what they are trying to achieve and what they see as their greatest opportunities and barriers.
Is there ever a common theme? Regardless of size, location or focus they all talk to me about the importance of client-service. They see it as the foundation of their success.
How does alternative finance fit into the picture?
How does alternative finance fit into the picture? Here are some comments I've had from accountants in recent meetings: "Alternative finance offers our clients an opportunity to access finance more quickly." "Alternative finance enables us to better respond to business opportunities." "Alternative finance offers clients a quick solution but there is a need to educate them to consider the idea."
Many of them are already working with a few alternative finance providers. Interestingly, these practitioners often mention how surprised they are by the minimal effort involved in sourcing finance themselves. They are keen to share that, in the long run, it enables them to free up time to improve their client service.
I also meet a lot of accountants that still only source finance working with a broker or bank. Common push backs I hear of why they aren’t working with alternative lenders include "how do I know its secure?" and "I don't have the time or resource."
Compliance and security
Explaining that we have 500 partners globally—among them, BDO and KPMG, accountancy firms with the highest standards when it comes to compliance and security, often helps. When it comes to the second point, “I don’t have the time", I usually find their concerns are alleviated, once we walk through the resource investment required.
It only takes a few minutes to sign up and join our partner community. Around 15 minutes to upload and submit a case. There is also a dedicated account manager who is ready to provide support, should there be any snags along the way.
Another common push-back that I am hearing is “I have everything I need. Why would I work with an alternative lender?” In response to that I often say: "That is an interesting perspective to have, given that the general consensus is that accountants need to reinvent themselves and provide higher-quality differentiated services."
Perhaps working with an alternative lender is something to consider after all?
Spotcap are on Accountex stand 1040.
Juliette Peyraud, will be speaking at Accountex on Alternative Finance: current opportunities and how it can help your clients succeed in the Financial Directors Forum 5pm-5.45pm on 23 May.
'Push harder, demand equality and be ambitious'
Jennifer Warawa has been Executive Vice President of Partners, Accountants & Alliances at Sage since June 2017. Here she talks to Accounting Insight Editor Ian Moss about her life and times...
The here and now….
What are your favourite early career memories, Jennifer?
I came from a family of entrepreneurs, with both my Mom and Step-Dad owning their own businesses which I was involved in as early back as high school and right through when they sold those businesses when I was in my 30s. During those years, I learned a lot about entrepreneurship, what it takes to run a business, sales and the many hats business owners have to wear. These really are some of my favourite early career memories and played a significant role in who I am today and built a foundation of skills I still use every day.
How did you get into this business?
I grew up in an entrepreneurial home (my parents were business owners) and as a result I have a very ‘entrepreneurial spirit’. When my step-dad lost the bookkeeper/accountant for his business, which happened to be at the same time that I was studying accounting at college, it seemed like a perfect opportunity to immediately apply what I was learning in the classroom in a practical way. I learned that behind every successful business is someone who understands the numbers and once I realised the numbers tell the story of the business, and that accounting is so much more than just the numbers, you could say I fell in love with it.
What can accountants and finance professionals learn from Sage, in a nutshell!?
A company of more than 30 years standing, we are built from, and of, accountants, which means that we understand the evolving nature of this profession. This stands us in good stead for providing the right guidance, technology and insights into helping the accounting profession grow and succeed.
We have been privileged to help them though periods of great change such as auto enrolment and, GDPR, and Sage is committed to ensuring it provides customers with software products and services that are ready for GDPR. Sage is a champion of business builders, and it is committed to arming them with the information they need to learn more about GDPR for their business.
Sage is also helping businesses access artificial intelligence (AI) through our technology, breaking it down for them, making it realistic, and then assisting them use it to operate more efficiently. In 2016 we introduced Pegg, a smart assistant, to help businesses manage everything from money to people by texting requirements through a familiar style messaging platform on their phone, tablet or laptop. In 2017 we introduced the Pegg framework, a smart AI platform to help our customers manage everything from money to people across the Sage product portfolio.
Does the idea of information overload concern you?
I think it’s all about understanding and deciphering the right information and the task in hand. As consumers we deal with information overload daily, be it via Twitter, news channels, Facebook, LinkedIn etc. From a professional standpoint, I receive information from our accounting partners, my team, senior management, and third parties ,several times a day. I would rather be over-communicated to, than not at all. I think this does, however, put a lot more pressure on communications and making sure you’re sending the right information at the right time and not contributing to the ‘information overload’. If your messages don’t stand out, they will simply disappear in to the mix.
What’s on the horizon for you and the sector?
My focus is to continue supporting our almost 100,000 accounting firms who do business with us (in addition to our 40,000+ partners and strategic alliances). One of the ways we have been supporting them is by developing the Sage Practice Growth Plan. We heard from accountants that they wanted more materials, resources and training to support them in changing their business model, and so this program will provide accountants with a roadmap to help them on their transformational journey and support the evolution of accounting practices through strategic insights gained from practicing accountants, thought leaders and industry experts. The model helps accountants learn new skills, anticipate the future and reorient their thinking to put their firm ahead, and we are committed to supporting accountants to adapt and stay relevant by embracing new technology and ways of working.
For the accounting profession there is more pressure than ever to stay competitive, and to strive to meet expectations of increasingly demanding clients. Accountants are expanding far past their traditional roles -- becoming more holistic business advisers to their clients and strategic partners with an ever-increasing list of demands on their time. Technological advances have brought significant benefits and are redefining how accountants work and even their purpose. It falls to the accountants to grasp these opportunities and to become a modern day super-accountant. To truly succeed in this new world, today’s accountant must fulfill their half of the deal and follow through with better interactions with clients, and improved service offerings
As an influential voice, what impact do you want to have on the industry this year and in the long run?
I would like to be a catalyst for change in the accounting profession, closing the gap between accounting and technology for fellow practitioners around the world. My roots are in accounting and I am passionate about it and this has afforded me a unique perspective in business, when talking to our accounting partners, so if I can continue in the same vein, I will be very happy. The same applies to something else I am passionate about - mentoring women across the accounting industry, looking to provide them with guidance and encourage more females to join the accounting profession.
Do you feel women are fairly represented in the profession?
I don’t think that the accounting profession is quite there yet with equal female to male ratio, however the opportunities for women are available and endless, but you need to go after them. Push harder, demand equality and be ambitious. I’ve said already how passionate I am about guiding women and investing in the next generation of technologists and business owners, and so will do all I can professionally and personally to support women in accounting.
Early Days
Where did you grow up?
I was born and raised in Kelowna, British Columbia Canada. It’s a town of about 100,000 people but is like a close “community” (as an example, the doctor that delivered me was still my doctor when I moved to the US in 2010).
Were you any good at maths at school?
I was not good at math, but I was good at accounting (go figure!). When math tells a story, I enjoy it and in turn, am good at it.
Trivia/Miscellany
What’s your favourite film? (you’re allowed more than one)
I actually am not much of a movie person, so when I do watch a movie it’s because kids rope me in to it. With that, one of the movies I saw recently that I enjoyed was Moana (I bet no one else has that answer 😊).
What’s your favourite book? (you’re allowed more than one)
One of the books that has had the greatest influence on me recently is ‘Breaking the Habit of Being Yourself’ by Dr. Joe Dispenza. It clearly lays out the science of what it takes to drive lasting change in yourself and uncover limitless possibilities for what you can achieve and become.
What’s your favourite type of music?
I listen to anything and everything and the type of music depends on the activity. Working out: dance music. Poolside: Reggae or Latin American music. Relaxing: Instrumental. Holidays: Christmas! One of my favourite bands of all time is the Eagles (I’ve seen them live three times) so they are a regular on my play list.
What’s your ideal day out?
My ideal day out is spent outside, preferably by water. Beaches, pools, lakes and sunshine – the best!
What’s your ideal holiday?
A mountain retreat, or on the beach where I could relax and get away from it all. Just unwind and unplug.
Is money the root of all evil?
I would have to say no, not when used wisely and for good causes.
Do you support a football team?
Of course! I assume you mean UK football, but I will refer to American football because I am an Atlanta Falcons NFL fan.
Do you have a heroine or hero?
One of my heroines and greatest inspirations was my mother, who I lost in a car accident in 2005 when she was just 50 years old. Throughout my life, my Mom taught me, both by example and by what she said, that nothing is impossible. In her eyes, there was never a limit to what I could be or what I could become, and it opened-up possibilities that would have otherwise seemed impossible. As a single parent for much of my childhood, my Mum showed me what innovation was before innovation was even a thing, reinventing herself as many times as she needed to provide for my sister and I. Even though I no longer have her physically in my life, the lessons she taught me and the way she inspired me continues to be part of my DNA.
19 reasons why accountants need to network
Walking into a room full of strangers is intimidating for most people. Especially people in the accounting world, where technical expertise is a given but social skills and networking capability are often rarer.
For some people, Accountex 2018 will be hard work. The many conversations, interactions and situations can be overwhelming, even for the more confident networkers.
While the opportunities are huge, the motivation for accounting types to be there is not always enough to ease the nerves and enhance the performance. One way to feel more positive about events like Accountex is to focus on the positive.
Huge benefits to networking
There are huge benefits to networking for accountants and others in and around the profession. If your ‘why’ is strong enough, you’ll be motivated to get out there and network. Here are 19 benefits to help you to get out there and get talking to people...
- Uncover new business opportunities.
- Make more profits and more money.
- Meet or exceed sales targets.
- Raise your personal profile.
- Raise the visibility of your company, product or launch.
- Source great suppliers, vendors or providers, both for your firm and yourself personally.
- Recruit your next employee.
- Locate new strategic alliances.
- Improve your self confidence – if you get through, you’ll be stronger.
- Make your mark in a new role, niche, product line or territory.
- Enjoy the thrill of winning new work.
- Learn new ideas, industry tips and insider trends and information.
- Scout the competition and see who is doing what.
- Develop leadership skills by taking your team there.
- Validate your ideas, products or propositions.
- Maintain contacts with existing clients or customers.
- Explore new commercial partnerships or joint ventures.
- Develop ‘referral networks’ with other professionals.
- Meet new friends or gain a support system - business can be lonely.
There are many great reasons to go networking. You've got to figure out which ones work best for you and your personal situation.
To ease the worries of a huge networking extravaganza like Accountex, come to my training session on Wednesday, 23 May at 11am in the Business and Finance theatre. The title is “7 Different but Equally Effective Networking Strategies for Accountants to Raise Their Profile and Win More Work.”
'We want to take away the pain of data mining, and empower accountants'
Dominic Allon, vice president and managing director, Intuit Europe, talks to Accounting Insight News Editor Ian Moss about his career and ambitions for QuickBooks
The here and now...
What are your favourite early career memories, Dominic?
Joining a start-up straight out of university! We had a great team and built a really successful business publishing local city guides for students across the UK.
How did you get into this business?
After the start-up, I did an MBA and then moved on to work for The Economist. My next role was at Google UK, managing media agency partnerships. I also did a lot of work with the government and advertising trade bodies to expand self-regulation to digital advertising. After seven years in the UK business, I moved to Google Hong Kong as managing director.
I joined Intuit because I saw fantastic opportunities to serve small businesses, and enable their success. QuickBooks gives them more confidence and helps them better understand their business. It’s a real privilege to serve the small business community and support start-ups in Britain.
Alongside the small business community, and just as important, we also work closely with accountants. We help them navigate the digitisation of their firms to better serve their clients.
What can accountants and finance professionals learn from Intuit QuickBooks, in a nutshell!?
First, we aim to help them keep up with the pace of change in technology, and make it easy for them to harness the power of new ways of working. Secondly, we place small businesses and accountants right at the heart of our business. We want to develop products that help them make smarter financial decisions, and enable accountants to continue to grow their practice.
Does the idea of information overload concern you?
Many of us need to navigate large volumes of data. This is a critical skill in today’s world. The key is having the right tools in place to collect and analyse data, and turn that data into actionable insights. In the digital age, not everyone should need a computer science degree to understand the data presented to them. We want to take away the pain of data mining, and empower accountants to use real-time customer insights to make smarter decisions, and in turn, become their trusted advisers.
What’s on the horizon for you and the sector?
As the UK continues to see a significant upturn in self-employment, with self-employed workers now accounting for 15 per cent of all people in work, accountants are taking on more self-employed clients than ever before. This next generation of entrepreneurs has grown up with technology playing a natural part of their lives. We will continue to innovate and invest in R&D to help empower our customers and enable them to turn insights into action, to drive long-term growth.
As an influential voice, what impact do you want to have on the industry this year and in the long run?
We want QuickBooks to be the ‘smarter’ way to do business. Accountants are critical partners in our ecosystem, both enabling self-employed and small business success. 89% of small businesses we talk to say that they are more successful when working with an accountant. Our ecosystem is stronger with a robust accountant network, and we will build applications and services to help them thrive and connect with our self-employed and small business customers.
Two of the key challenges accountants face are finding new clients to grow their business and managing their practice efficiently through a variety of applications. Long-term, we’re striving to solve both pain points with a simple vision: QuickBooks will be the one place for accountants to grow and manage their entire practice.
We are committed to continued innovation to help our accountant customers prepare for the rise of a new wave of workers.
What are your expectations for Accountex 2018?
We always look forward to Accountex. It’s a great way for us to meet ambitious and thriving accountants as well as get together with our accountant customers to catch up on their priorities, whether it’s about on-boarding new customers, or the ways technology is helping them become a trusted adviser. We can’t wait to see what this year has in store!