Let's face it - the economy is in bad shape. Investment houses are going out of business, banks are failing, and many investments have lost an incredible amount of value.If anything good has come out of this financial mess, it might be that it underscores the fact that financial planning and investment strategies almost always have some element of risk, and that the process has to be a dynamic one, with strategies changing as needs and risk aversion on the part of the investor change.

COUGAR MOUNTAIN INTRODUCES E-COMMERCE SOFTWARE

'Ready, fire, aim" is not a strategy most firms follow in good times, much less in uncertain times.

FIRMS NEED MORE WOMEN PARTNERS

I'm always amazed at how previews of anything command rapt attention. Who, for instance, when watching their favorite television program, doesn't suffer through the credits just to catch a sneak peak of next week's episode?

Accounting Today polled several of the profession's high-profile technology experts and consultants to elicit their advice on what technologies CPA firms should be investing in, as well as to gauge their predictions on what current tech trends will impact the accounting landscape in 2009.

High-End and Mid-Market Accounting

Two of the qualities that make for a Top 100 Product are longevity and the sort of patient accrual of incremental improvements that go with it. But most of our Top 100 started as brash innovations - and the past few years have seen the rise of a wealth of exciting new products that, while not yet established enough to join the Top 100, are definitely worth your attention. We call them the Ones to Watch, and this year we're watching more products than ever, in almost every conceivable practice area and specialty.

H&R Block said it would offer the ability to electronically file up to five federal tax returns in its TaxCut software next tax season, as Intuit also offered the ability for TurboTax users to prepare and print multiple returns at no extra cost along with free e-filing of up to five federal returns.

On the heels of weak results for its North American operations, Sage has laid off 150 out of its 5,000 North American workers, citing the move as a response to the economic climate.

Sage North America launched an online forum for users of its fixed assets software, Sage FAS.

JUST SAGE-360 FADES.

Why should accounting software resellers attend a user conference? It’s a question worth asking as resellers are fairly plentiful at the Microsoft Convergence conference, a bit rarer at Sage’s Summit conference, currently under way in Denver. Microsoft has carried on Convergence, which was originally a Great Plains user conference, for several years. And top resellers routinely attend. Sage is now on its fourth Summit, and its channel has not turned out in the same proportions. Perhaps they should talk to the folks from some of the companies owned by Barbados Shipping and Trading, Caribbean customers of Axis Global Partners, who did make the trip to the Mile High City, one of more than 100 Sage resellers that attended. The company has been using Accpac since 2003 and has one of the largest installations of the Accpac Warehouse Management Systems, and brought several staff members to the conference. One of them gave this reason for spending the company’s money to attend Summit. “We can meet Sage people and talk to them about the things that are going on with the company,” she said. And by the way, that access makes the reseller look good. In fact, that’s one of the prime reasons that Microsoft Dynamics resellers have cited for attending Convergence with their customers—They are able to demonstrate their access to decision makers and help customers solve problems or understand the course of product development. Other Dynamics resellers have cited the opportunity to spend time with clients and deepen relationships. Another part of the reseller formula is taking prospects to Convergence to seal deals. Not enough Sage resellers understand how their attendance at a user conference can help their business. But if they want a good argument of how their clients’ reaction to a show can help them, they should talk to the folks from the Barbados and to the owners of Axis.

Sage described the success of its online community for its ACT customer relationship management software at its user conference.

In preparation for the 2009 filing season, accounting and financial software provider Intuit has unveiled Document eSort, a tax automation and scanning application.

Sage is rebranding--dropping the “software” from its name.

Intuit is relying on its channel to give QuickBooks Enterprise Solutions a heavy push into the midmarket.The vendor launched a reseller program last summer, reaching out to its hefty pool of QuickBooks ProAdvisors and appealing to resellers of competitive products, namely Microsoft GP and the Sage MAS line.

BILL.COM UPGRADES TO SYNC WITH QUICKBOOKSBill.com has added QuickBooks synchronization and workflow features to the latest version of its online accounts payable service. It now allows users to synchronize vendors and general ledger accounts with QuickBooks without affecting their existing financial reporting and procedures. The two-way synchronization transfers data to and from QuickBooks as an add-in through the menu bar. Bill.com can post follow-up action items directly in the user's Bill.com to-do list.

Current economic conditions will create winners and losers in the accounting profession. Most accountants only think of winning and losing in financial terms, yet there are other areas in which firms are at risk but can also prosper during uncertain times.Three of these are:

Sage Software debuted Sage BusinessWorks 50 Accounting 2009, the newest version of its accounting software package for small and midsized businesses.