Accounting Apps Podcast

Using online advisory services to increase your revenue

Today I’m sharing with you a panel discussion on the topic: Using online advisory services to increase your revenue from the Accounting and Finance Show Asia 2021.  The panellists included: Willy Tan, Managing Director, Forbis Accounting Pte. Ltd. Henry Tan, Group CEO, Nexia TS Will Farnell, Founder, Farnell Clarke / willfarnell.com Some of the areas the panellists and I explore include Online Advisory services currently offered, including Sustainability Advisory. How to get existing compliance clients to see the value in new advisory services? The impact the pandemic had on advisory services, and the always popular question, how do you charge for advisory services. The pandemic drove firms to engage with their clients. It gave accountants something to talk to their clients about regularly. When the government stops giving you something to regularly talk to your clients about, what are you going to do to make sure you continue to talk with them? The three P’s: Prepare mentally. Prepare strategically. Prepare sustainably.  Freemium advisory content model: sharing basic advice and useful links on social media for free. For more in-depth advisory needs, the client is charged. Volunteering services to charities has improved branding and increased referrals. The session initially starts with an introduction from Laura Binns, Project Director at Terrapin, the conference organisers she hands over to me as host.  The conference is organised by Terrapinn a global events company promoting innovation and technology. I encourage you to google them and register for any upcoming events that may be of interest to you. As many are currently running virtually, you have the opportunity to attend their global events! Access the Accounting and Finance Show here: https://app.swapcard.com/event/accounting-and-finance-show-asia-2021 Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Virtual Cards: The Future📡 of SMB Payments| Daniel Kniaz

Today I’m speaking with Daniel Kniaz, CEO and Founder of DiviPay In this episode, we talk about . . . Building entrepreneurial and start-up skills and base knowledge of FinTech while working in the Westpac Innovation Team. Left due to slight frustration of what they built never made it to market, and they felt (‘they’ being the other future co-founder of DiviPay) could move faster and learn a lot, going out on their own. Daniel shares the journey of DiviPay and how it works. It’s always been about virtual cards, though needed to pivot several times to solve the pain points of SMB and meet the demands of paying consumers. We have an interesting conversation exploring the accounting and start-up relationship and how accountants need to communicate their value to start-ups (who don’t have a lot of money). Daniels first taste at entrepreneurial life was an eCommerce modern man’s sock business. The trick to accessing US education at an Australian price point Explains the process methodology for building in feature requests. And I shall also mention the two books he referenced were o Humankind, A Hopeful History By: Rutger Bregman o Never Split the Difference Negotiating as If Your Life Depended on It by Chris Voss. I have a strategic partnership and work with the team at Divipay. Read more here http://EndorsementDisclosure.com. Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Do Accounting Firms need an office🏢 anymore?

Today I’m sharing with you a panel discussion on the topic: Do Accounting Firms need an office anymore? produced by the Accounting and Finance Show Hong Kong 2021. Our expert panellists were from Australia and the UK. We were all cloud-first, though we had different size teams, and different set-ups, be it in-office, remote or hybrid model. Of course, Covid impacted these models. As always I think it’s useful for us to hear different insights and experiences to help us on our own journey. The panellists included: Moderator: Kyelie Baxter, Founder, Managing Partner, IQ Accountants Sarah Lawrance, Founder, Hot Toast Will Farnell, Founder, Farnell Clarke During the session we discuss: How to ensure clients have an amazing experience no matter how we are working. Benefits of a remote workforce vs hybrid model vs in office model. Issues related to where staff work. The impact on culture, recruitment, even office dress codes. Communication and working across different time zones - and I actually forgot to mention something I’ve leaned into which is ‘Asynchronous communication’ where the conversation is intermittent, rather than a live steady stream. The session initially starts with an introduction from Laura Pickard, Conference Manager at Terrapin, and she hands over to the Moderator: Kyelie Baxter, Founder, Managing Partner, IQ Accountants. Terrapinn is a global events company promoting innovation and technology. I encourage you to google them, and register for any upcoming events that may be of interest to you. As many are currently running virtually, you’ve the opportunity to attend their global events! Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Introducing the Xero App Store: Simplifying Small Businesses’ Digital Needs | Nick Houldsworth

Nick Houldsworth Exec GM Ecosystem of Xero joined me from the Xero offices in Auckland and we discussed the launch of the Xero App Store. Initially, Nick explains what the Xero App store is, and the thinking behind it. He shares how the App Store will help match the right app with the right customer, and how this will work. As you can imagine, when this announcement was made, there was a lot of discussion about it in the Xero Mastermind group, and I brought their higher level concerns and questions to the interview. I should highlight that The Xero App store is now available in the UK, Australia and New Zealand, notably, it’s currently not available in North America. What are your thoughts on the new Xero App store? I’ve heard a spectrum of opinions from the App Tech community. From shock, to suggesting the revenue share is too high, to the revenue share is fair. Someone commented if the revenue improves the API connections, then the engineers will save time on development, in turn reducing their expenses. Another said if it brings me, customers, I’m happy. Since Covid impacted conferences many within the App community have been asking how can we get in front of accountants, bookkeepers and small businesses. There are only so many webinars we can run? The vision of the Xero App Store is to help match the right app with the right customer and maybe while we’re in this pandemic, it fills that conference void, and like many businesses that have pirouetted, it is a new opportunity that we can all leverage and benefits from. If you want to continue the conversation jump into the thread on the Xero Mastermind Facebook page. The interview was at a high level. I’ll drop into the show notes, links to resources that may provide further information. If you have further questions about how it will work, or impact you the team at Xero are happy to answer any of the questions we weren't able to cover. Reach out to them at api@xero.com. I’d like to take the opportunity to say thank you to Nick Houldsworth, Sarah Scott and the team at Xero who helped coordinate turning around an interview so fast. You’ve been listening to the Cloud Stories podcast. To help other people can find this podcast it’s really helpful if you subscribe leave a five-star review, AND you can subscribe to the AccounTech newsletter at https://HeatherSmithAU.COM

How To Kickstart The Digitalisation Of Your Practice In 2021 🛴

Today I’m sharing with you a panel discussion on the topic: HOW TO KICKSTART THE DIGITALISATION OF YOUR PRACTICE IN 2021. This session was produced by the Accounting and Finance Show, as part of the Digital Practice Summit Asia 2021. Our expert panellists were all based in Singapore, and all at different stages of their modernisation journey. I think it’s useful for us to hear different insights and experiences to help us on our journey. The panellists included: Charles Chen, Partner, Charles and Partners Mirah Agus, Beaufort Corp., Founder & Managing Director, Beaufort Tax Consultants Pte Ltd Elaine Lim, Director, Agere Accounting & Advisory Pte Ltd The session explored: Learn how to fix a car engine while it’s driving at 80 km/h on the ECP (in other words how to release capacity, and implement digital changes in an operating business) How to approach developing a digitalisation implementation plan How to engage your team to embrace change, and be involved in the digitalisation journey Practical Tips and tricks for a smooth transition, and how to deal with the challenges A few examples of technology modern practices are currently using Access the Accounting and Finance Show here: https://app.swapcard.com/event/digital-practice-summit Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Shaping the 📡Future of Your Firm - AccTech and the Digital Firm

Today I bring to you a panel discussion entitled Shaping the Future of Your Firm - AccTech and the Digital Firm. This follows on from last week's episode, where I shared the keynote speech I gave as part of the ACCA Virtual Conference 2021 Reshaping Finance: Digitally Enabled, Sustainability-Focused. This episode is the panel discussion that followed. The conference was organised in Singapore. The moderator was Sarjit Singh, and there were five panellists, three from Singapore, of those two, were in practice, and Evan Law was the Chief Executive of the Singapore Accountancy Commission. Will Farnell joined us from England, and I of course was joining from Brisbane Australia.  For us to grow as an industry, I think it’s beneficial for us to have an awareness of what is happening beyond our own tea cup, and I am always grateful to be on these international panels. You might find it beneficial to go back and listen to last week's episode as the panelists do mention it several times. I hope you enjoy listening.  Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

6️⃣ Steps to Transform to a Digitally-Enabled and Sustainability-Focused Accountancy Services Firm

Today I’m sharing with you something a little bit different. I was asked to give a keynote speech as part of the ACCA Virtual Conference 2021 conference ACCA Virtual Conference 2021 Reshaping Finance: Digitally Enabled, Sustainability-Focused. The speech was entitled: 6 Steps to Transform to a Digitally-Enabled and Sustainability-Focused Accountancy Services Firm.   The topic was something they asked me to talk to, as it was in line with the theme of the conference. The keynote led into a panel discussion with five experts. Typically, I moderate sessions, so it was a bit daunting talking for twenty minutes, and then leading into the panel session. It was extremely gratifying, and relieving that during the 90 minutes panel session, each of the panelists referenced a part of my talk in their responses. I’d successfully delivered a keynote, that formed a foundation for, and warmed up everyone for the panel discussion to follow.   If you find yourself giving a speech after someone else, it helps with the continuity of the conference, and the connection to the audience, if you can weave an element of what they said into  what you are sharing.   To get you in the mood I will read to you the synopsis of the conference: A renewed optimism about the future, post-COVID-19, is establishing itself – led by the growth of the Digital Economy. The Monetary Authority of Singapore (MAS) has introduced several ground-breaking initiatives to promote Green Finance. There have also been significant developments in AI and intelligent automation; and the launch of 5G networks in Singapore, that will further transform the way finance functions operate in future. While these are primarily Singapore examples, they can serve to showcase trends and best practice in the Asia-Pacific region.   This Conference is guided by three themes: Shaping a Green & Sustainable Future, Shaping an Ecosystem for Innovation, and Shaping the Future of Your Firm. This keynote was a part of the third track. It will open with a strategic plenary session to set the common dynamic context, before being followed by three interactive tracks to provide you with targeted knowledge on specific areas of developments relevant to you, to enable you to respond to these evolving but dramatic changes to the economy.   And finally, I’ve chosen not to heavily edit it, so you will hear some references to the conference at the start and at the very end, but I do not think it detracts from what I’m sharing. I hope you enjoy it. Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Researching an App? How Accountants/Bookkeepers Charge Their Time ⌚ | Postcard

Postcards are short current episodes, addressing a topic that currently interests me, host - Heather Smith. In the App Advisory Mastermind group someone asked How to charge for your time in scoping App Advisory, when the client kept changing their mind about what they needed. In this postcard, I talk about how I approach scoping workflow improvements and App research with a client. I also address the client's mindset. One thing I did not mention is that it's also necessary to recognise that the holy grail may not exist, and reviewing and refining workflows may provide a cost effective and viable solution.  Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Makers 🆚 Managers: The Battle Over Remote Work | Postcard

Postcards are short current episodes, addressing a topic that currently interests me, host - Heather Smith. In today's postcard, I share an article that resonated with me, from the Todoist blog post written by Fadeke Adegbuyi. Makers vs Managers: The Battle Over Remote Work Managers want to go back to the office. Employees aren’t so sure. https://blog.doist.com/makers-schedule-remote-work/ Makers and managers are locked in a productivity power struggle where the battleground is the calendar and diminished focus and lost hours are what’s at stake.  Both makers and managers, or roughly equivalent to employees and executives, have important roles in the workplace and both schedules serve a different purpose. While managers and makers across companies often agree there’s a problem, they’ve simply added band-aid fixes like “No Meeting Tuesdays” or “Work from Home Wednesdays”.  Offices have been built around the needs of managers at the expense of makers; the move to remote work offers a rare opportunity to shift the balance. Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Dext Vision 2021 | James Parker

Today I'm speaking with James Parker, General Manager of Asia-Pacific (APAC) of Dext In this episode, we talk about . . . As you may be aware in Feb 2021, team orange rebranded from Receipt Bank to Dext. This led to a lot of discussions and perhaps confusion in the Accounting and Bookkeeping community. To try and address community raised issues, I invited James Parker, the new General Manager of Asia-Pacific (APAC) of Dext to join me for a community chat. I also invited bookkeeping advocate Cassandra Scott to join me as co-host for the session.   Let me give you some background of both guests:   James Parker joined Dext in November 2020 with over 20 years of experience in leading, transforming and growing technology firms within the accounting and legal sectors. His high-level interpersonal skills allow him to engage with stakeholders at all levels genuinely. A visionary leader, James enjoys engaging in thought leadership, challenging the status quo, and networking with industry and community peers. At Dext, James is responsible for the GTM strategy and rapid growth of DEXT in the APAC market. He is looking to grow ARR 30% YoY through a sustainable sales and marketing approach, delivering significant value to Accounting and Bookkeeping firms. Cassandra Scott is the Director of Laurus Bookkeeping, a business services consultancy specialising in cloud-based accounting and business systems based out of Brisbane. Cassandra is a Registered BAS Agent, Xero Certified Advisor, Xero Platinum Partner, and in November 2020, Cassandra was appointed to the Board of the Australian Bookkeepers Association. Cassandra provides mentoring services to other bookkeepers and contributes to the ongoing discussion and development of programs to increase the professionalism and evolution of the bookkeeping industry. In support of her goal to increase the profile and professionalism of bookkeepers and BAS Agents to both SMEs and other industry professionals, Cassandra founded and  administers the largest group of Bookkeeping Practice Owners in Australia. The group intends to provide support, mentoring and collaboration for Australian Bookkeepers who have their practices, and by doing so, continue to raise the bar and professionalism of the industry. This was recorded live with the accounting and bookkeeping community on June 7th and has been repurposed for the Cloud Stories podcast. I'd like to remind you to stay up-to-date with the curated content I'm sharing by signing up for the Accounting Apps newsletter, available at http:// HeatherSmithAU.COM