Category Archives: Technology

Are You Ready for the 4th Industrial Revolution?

Australians now spend about half a day each week doing different tasks than someone with the same job five years ago, according to a recent research study. And that is an average with some sectors, like accounting and bookkeeping, at the extreme side of this trend.…

Exiting Old Habits

There are powerful forces at play in the accounting software sector; they will affect all accounting and bookkeeping professionals. Old work practices and traditional ‘tools’ of the trade are being relegated to the dustbins. Readers of the financial pages of newspapers offline and online will note the massive corporate activity being played out on the stock exchange with takeover plays for MYOB and turbo-charged valuations for Xero.…

Cryptocurrencies: Be Afraid

What is a cryptocurrency and why should we care? Before dismissing it as another fad, consider that Fast Food giant Burger King has partnered with blockchain platform Wave to launch its own crypto-currency in Russia called WhopperCoin. Customers who buy the chain’s popular Whopper burger are now able to receive one WhopperCoin via digital wallet for every rouble they spend; a Whopper burger can be bought using this virtual currency.…

Why this? Why you? Why now?

Where is the low hanging fruit for bookkeeping professionals? A majority of firms who we class as high performing firms (download survey study) target existing customers to upsell higher value or advisory services. It makes intuitive sense because questions asked by a prospect you have not worked will often be focused on the negative.…

Make Your Firm More Valuable

Are you taking action to make your firm more valuable? And, does it matter anyway? Look for example, at what is happening in the accounting sector: the value of a firm is directly related to the degree to which the firm has adopted technology.…

Discovering Your Mojo

In his talk at the recent Sydney Writers Festival, Thomas Friedman, the Pulitzer Prize-winning author and New York Times columnist, spoke about mindsets and the skills needed in order for people to have successful careers. One essential skill identified is a capacity to think like an entrepreneur.…

The Disruption Index

The Disruption Index tracks change in the bookkeeping services sector, and the broader accounting eco system of suppliers, vendors and app developers. Accounting and bookkeeping services are undergoing disruptive change thanks to a rapid adoption by small business customers of digital solutions offered by accounting software providers, disintegrating time-based business models and a changing competitive landscape.…

Singing from an old song-sheet

Are you singing from an outdated song sheet? Elvis records still sell but today’s more youthful business owners are more likely to be listening to Beyoncé or Shakira. The ‘role’ or the ‘song sheet’ for today’s accountant or bookkeeper has changed dramatically due to influence from new technologies and the shift to cloud solutions.…

Uber & Robots: a threat to bookkeepers?

Uber, the ride-sharing company has shaken the taxi and hire car business model, forever changing the structure of the industry and the behaviour of the consumer. Airbnb and Upwork have had similar impacts on the accommodation and freelancer sectors. Each is evidence of a rapidly expanding on-demand economy.…

Are you too busy to keep up?

Here’s a sobering thought: a business owner can now take the ‘pulse’ of her business while sipping a cocktail on the beach in Bali. The “monthly figures” are now a thing of the past – everything is available in real time.…