Accounting Predictions for 2016: Part 1

Here are 5 accounting forecasts courtesy of Matt Paff from Value Adders.

Paff’s company advises and assists businesses when it comes to navigating the terrain of current digital disruption. Value Adders helps small-to-medium [SME] businesses embrace technological change, gain a competitive edge and grow through implementing and utilising the technology right for them.

Who Is Matt Paff?

Chief Value Adder, Matt Paff, is a technology executive, advisor, writer, presenter and aspiring futurist with a plethora of experience across the business applications domain.

Matt Paff’s 5 Accounting Predictions for 2016

1. Xero is set to hit 1 million subscribers before this year wraps up. Although competition in small-to-medium [SME] business cloud accounting adoption has hit its limit in the Australian market (and with the United Kingdom showing similar bloated indications), it’s time to turn to the emerging markets in Africa and Asia which are ripe for cloud growth.

2. Reckon Ltd will not be listed (at least not in its current incarnation) by the end of this year. Matt predicts the business department of the firm will be sold (most likely to Sage or MYOB), while the document management & practice businesses will remain.

3. ReckonOne will be absorbed into another business, or completely decommissioned. If Sage or MYOB purchase Reckon, or just the company’s software division, there will be no need to keep ReckonOne in operation. Matt forecasts elements of their micro-services architecture might become integrated into MYOB essentials or SageOne.

4. The uncertainty surrounding Reckon could prove a boon for Intuit. Matt predicts Intuit will experience a difficult year, but the company could turn things around if they invest in the current land grab in the accounting software space. If Intuit decides to spend big and implement sharp pricing, the firm might be able to get a leg-up off the uncertainty surrounding Reckon.

5. SageLive looks set to prosper while SageOne may be facing a hard road ahead, unlikely to crack the top 5 Australian SME cloud book keeping solutions. Matt believes that the current Accpac/X3 channel offers a great opportunity for taking SageLive to the Australian Salesforce customer user-base. But, this eventuation can only come to fruition if Sage is fast enough to hold-off on jumping over to MYOB Advanced.   

MYOB annouces Paycorp acquisition

Alongside strong full-year results, MYOB has announced $48m acquisition of Paycorp.

Deloitte and Bitcoin: How e-Currency Can Change an Industry

As one of the world’s big four invests in black market technology, we have a look at how it can be used to change the accounting industry as we know it today.

Customer Satisfaction: Small Banks On Par With Major Institutions

When it comes to service quality, Australian customers are enjoying the effort of smaller banks