beyond general ledgers
TRANSCRIPT
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Beyond the Ledger
Varun Singh
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Beneficial DisruptionsHow the accounting industry is evolving
Untapped ReservesUtilizing existing data to help your clients make smarter decisions
Become An Appreciating AssetBill your clients for higher value services and move beyond basic bookkeeping
Agenda
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500 B.C. - 1982
1983 - 1994 1995 - 2005
Accounting Through the Ages
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Cloud Accounting Brings New Weather
2005 - PRESENT
Remote access
Transition across devices
Collaborate with team members
Free automatic updates
Easy to use interfaces
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Poll question 1Which cloud feature do you like best?o Remote access
o Transition across devices
o Collaboration with team members
o Free automatic updates
o Easy to use interface
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Zoho Books
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Multinational Support
Multi-currency support and automatic exchange rate updates bring powerful financial data to small businesses
Rate as of 05-02-2016
P. Sherman42 Wallaby WaySydney, NSW 2000
P. Sherman42 Wallaby WaySydney, NSW 2000
1 USD = 1.3356 AUD
Rate as of 05-02-20161 USD = 1.3356 AUD
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Bank Rules Categorize Transactions Auto Match
Automatic Bank Feeds Mean Less Work
Match
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Classic Accountant Office
NewAccountant Office
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While The Cloud can be a beautiful place...
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...it's not without its
storms
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What Cloud Accounting Still Lacks• Common database for leads,
accounts, marketing and finance management
• Efficient communication of data between teams
• Roles and business workflow
Integrations of business applications can help fill these voids and bring greater
efficiency to how business is done
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Use integrations with an accounting program to bring greater value to your client's data
Leverage your insight into client data by upselling your services
Put Accounting Data to Good Use
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Let's take a look at an example of a marketing and finance integration
Integrated Applications for SMB's
CRM Books
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Poll question 2Which role do you see yourself in? (choose all that apply)
o Consultant
o Marketing specialist
o Business analysts
o Other - list in question box
o None of these
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Front and Back Office Interdependence
Sales and Finance
Bring financial details to Sales and keep Finance aware of changes to estimates, invoices, and customer data.
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CRM & Books Share Contacts
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Targeted sales to customers in good standing
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CRM & Books Share Products
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Expanding Roles for Accountants
CONSULTANTS
E.g. Enterprise Resource Planning for SMB's
MARKETING SPECIALISTS
E.g. Implement social media marketing strategies
E.g. Expand existing businesses to the subscription model
BUSINESS ANALYSTSBe more effective by offering value added
services
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Finance Driven Business Applications
Create efficient workflows that automate tasks, categorize transactions, alert admins, track inventory, approve expense reports and more
Accountants are uniquely positioned to provide integrated solutions to small businesses
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Using Financial Data for Business Analysis
Analyze financial data to measure where your client's business is headed and help make critical decisions
e.g. Use software to calculate customer acquisition and churn. Refocus a marketing strategy to reflect this data and drive growth.
What's our customer acquisition cost? Customer gain versus churn rate?
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Poll question 3What have you done in terms of automating client workflows?
o Automated alerts
o Inventory tracking
o Automated approvals
o Admin automation
o None of these or other - list in question box
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Zoho Subscriptions
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Integrated Apps Expand Your Practice
Become a partner for these organizations and earn:
Complimentary access to product
suites
Commission and discounts for
clients
Free training and help to learn new
skills
Market your skillset to customers and
upsell your services
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Poll question 4How many apps would you guess you use in your business? o 1-3
o 4-7
o 8-10
o 11-15
o More than 15
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Let's explore how workflows and automation can change
bookkeeping
DEMO