Cloud-based accounting systems from SaaS vendors like Xero have changed the way accountants do business.To get the latest views from the field, Dennis visited with four Xero accounting partners in Australia: Gavin Waring, CEO of Fresh Numbers, David McPherson, Principal of McPherson Financial, Lisa Stribely, Director of Hansens and Paul Meissner of Five Ways Accounting.
During the video series, Dennis asks the four partners to speak to how Xero has impacted their firms. Gavin says that partnering with Xero allowed for benchmarking particular industries and using collective data to help clients make comparisons to competitors. David grew his revenue by about 40% over an eight-month period. Lisa points out that, since accountants don’t want to be accountants anymore, but business analysts, the cloud helps her utilize tools and efficiencies to help clients, rather than just sit behind a desk crunching numbers. And Paul reports that, without a single client, he started his own business, implementing up-front, fixed-fee billing that helped him stay cash-flow positive from day one.
:37 Gavin would not advise competitors to go to Xero – because he wants their clients
2:13 David’s revenues have grown by about 40% over the last 8 months
3:02 Lisa: today’s accountants would rather be the equivalent of business analysts
4:35 Paul switched to the cloud – without having a single client first – and made it work