QuickBooks alternatives and cloud-based accounting were the main themes of Doug Sleeter’s opening keynote address at his group’s annual conference, as he stressed how the profession is clearly moving in new directions and accountants need to think about changing how they work.
Doug Sleeter
Sleeter spoke to an estimated audience of over 700 at the 2011 Accounting Solutions Conference in Las Vegas.
“We found that most attendees have come here not just to learn about QuickBooks,” said Sleeter. “There are paradigm shifts all over the accounting technology world. The future is here, and it’s all about zero data entry and about how you work. A big feature of this conference is about turning the corner. Just providing tax returns and financials is not enough. We are here to help guide clients and use the numbers to help them make better decisions.”
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Sleeter had attendees complete a survey upon registration and found that over 40 percent of them are attending for the first time.
Sleeter discussed the maturing of cloud accounting technology. He pointed to QuickBooks Online, along with Intacct, Xero, NetSuite, Bill.com, and SmartVault, among others.
He noted that cost and security issues still linger, but adoption of cloud or SaaS offerings was more a matter of “when” rather than “if.”
“Security is a big piece to never stop worrying about, but in this new model we will surround the data, and software that runs it will be higher [security] than what you have at your office,” said Sleeter. “What’s more, in this new world, you no longer have to say, ‘It’s not QuickBooks. I can’t deal with it.’ It is more expensive [to move to the cloud] for those that compare costs to what you’ve already spent on software and IT, but if you look out several years to your IT spend, this is a much less expensive way to go.”
In addition, Sleeter said accountants will ultimately need to move from client-centric, premise-based accounting systems to collaborative SaaS offerings; from paper financial statements to financial dashboards and portals in the cloud; from traveling to clients, to remote access; and from teaching software “tricks,” to designing, configuring and automating Web-based data work flows.
“In terms of SaaS adoption, we all know it’s real now, and we are at a real uptick in the adoption curve, so if you are not coming on board at least by this point in the market, your clients will view you as irrelevant or will question their relationship with you,” said Sleeter. “Ask yourselves, is it about serving your clients or leading them? What do you want to do?”
4 Comments
rwblue said "cloud is great for areas that have fast, reliable, and unlimited internet"
I think cloud technology is also great for areas where Internet access is pokey ... here's why. Cloud technology is innovative because you can use a browser to access advanced financials that reside on a server. The cloud server can be located on your premise (with some cloud software) so you don't have to worry about internet connectivity when in the office. The browser provides a rich user interface that can (if you choose to turn it on) be accessed from anywhere and deliver only specific data fields and values. It's a great way to perform tasks from home or while travelling without worrying about VPN software, or other complexities. We have businesses that allow remote employees in China to access a subset of their data that resides on their server in the USA. This allows them to get up-to-date inventory and production data.
Doug Johnson Acumatica
Posted by: WebBased | November 9, 2011 2:08 PM
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The cloud is great for areas that have fast, reliable, and unlimited internet. We have DSL and Cable internet available in our area, but we are in remote area. Each provider limits us to only 5 users on-line at a time. Max guaranteed speed is 1500. We can add more users, but the cost is prohibitive. We will not be adding SaaS or recommending it to our clients in the near future. Those that have tried have been disappointed.
It seems to me that many companies and the leading edge promoters forget that there are many areas of the country that do not have the latest or even several generations back internet service that they take for granted.
Posted by: rwblue | November 8, 2011 12:08 PM
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We moved our practice to Xero 4 years ago and now use that system for our practice and our clients. It's fab, plus we now also use integration systems from the 'cloud' like Workflowmax and Vend. We've had no security issues and love the fact we can use these systems on the road, at a client premises or in fact anywhere - accessibility and visibility are key for us.
As an example of how fast-moving the Xero eco-system is, we've even developed our own cloud tools to integrate - Spotlight Reporting for enhanced performance reporting, and Spotlight Forecasting for cashflow forecasting and scenario budgeting for Xero. We're just one example of where accountants can help be part of the innovation cycle, which just isn't possible in a desktop, 'closed shop' world.
Excited now by what Xero have planned for the US :)
Posted by: rmfran | November 7, 2011 9:44 PM
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All of my clients use QuickBooks, or we use it for them. We won't deal with anyone on the online version, we feel it is a half version and always put them on the box. It works very well for my clients and Intuit does a great job of progressing forward with each edition. I'm not against other software..or in the clouds software,...but my business owners are comfortable with this, as am I. For now, this is where we will stay.
Posted by: Margaux | November 7, 2011 5:52 PM
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