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The Startups Seeking to Dethrone QuickBooks
Episode 385
Blake and David dig into reports from the Illinois CPA Society and National Pipeline Advisory Group highlighting issues like long work hours, the 150-hour rule, and low starting salaries. They examine the potential disruption of traditional accounting software by startups and vertical SaaS companies offering embedded accounting functionality and review some of the CPA Practice Advisor Readers' Choice Awards. Wrapping things up, they highlight the health risks of long working hours, and discuss the need for better work-life balance in accounting firms, based on a recent WHO report.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Keeper - http://accountingpodcast.promo/keeper
Blue Onion - http://accountingpodcast.promo/blueonion
Chapters
- (01:44) - Does QuickBooks have some new competition?
- (07:05) - Layer wants to be a GL service
- (10:08) - Lili's place in the marketspace
- (13:26) - The role of accountants in software success
- (16:28) - CPA Practice Advisor's 2024 Reader Choice Awards
- (18:53) - Illinois CPA Society survey results
- (25:31) - WHO publishes estimates on health costs from working long hours
- (30:02) - The long-awaited NPAG Impact Report was released!
- (33:11) - Identifying pipeline problems
- (35:06) - Reasons students don't choose accounting majors
- (49:45) - Final points from report
- (53:31) - Blake's theory on why accounting starting salaries are low
- (01:00:15) - Thanks for listening and remember to subscribe
Show Notes
Teal Announces $8M Seed Investment to Drive Next-Gen Accounting Products for Vertical SaaS
Embedded accounting startup Layer secures $2.3M toward goal of replacing QuickBooks
https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/?guccounter=1
Illinois CPA Society Releases Updated CPA Pipeline Report
https://www.icpas.org/about-us/press/press-release-details/2024/05/16/illinois-cpa-society-releases-updated-cpa-pipeline-report
National Pipeline Advisory Group releases draft strategy report
https://www.accountingpipeline.org/draft-report/
Embedded accounting startup Layer secures $2.3M toward goal of replacing Quickbooks | TechCrunch
https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/
The Best Tech for Accounting Firms: CPAs Voted for Readers Choice Tech Awards
Lili Launches New Accountant AI for Small Business Financial Management