February, 2023

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Why we can’t keep old reports (and other burning questions)

Xero

The retirement of old reports is now only a little over five months away. If you’re like many small business owners and advisors, you’re probably starting to seriously think about how this will impact your day-to-day work. We’ve answered some of your most common questions, so you can feel confident about switching to new reports before 31 July 2023.

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Reasons Why 2023 is the Year for Client Accounting Services

Accounting Department

It’s common for business owners to feel stretched to the limit with the services they have. A common misconception is that implementing anything else will drain resources and strain current practices. Yet this isn’t necessarily the case — particularly regarding client accounting services (CAS). But why are these services so important? And why is 2023 the year businesses should consider implementing CAS into their strategy?

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How to Maximize Cloud Savings on Cyclical Workloads Using Commitment-Based Discounts

ProsperOps

The promise of elastic cloud infrastructure is the ability to quickly spin compute up and down and only pay for what you use. Workloads have different requirements and, depending on customer maturity level, take advantage of this capability to varying degrees. This ultimately leads to a wide variety of workload patterns from consistently stable to highly volatile.

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6 ways to use GCP for free

FinOps in Practice

The use of cloud services opens up enormous opportunities for IT companies. It significantly lowers the barrier to entry for those organizations that would otherwise never enter the market should they use the traditional approach to building infrastructure. However, it is important to use the capabilities of cloud services correctly because, over time, costs can increase and grow to significant sizes if not properly managed.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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Live Streaming with Fidesic Coming Soon

Fidesic blog

We are pretty pumped to be starting a streaming series on LinkedIn in the next few weeks. We are lining up guests from the Microsoft Dynamics Community to discuss “The Road to Directions”.

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Client Hub Launches Free Recategorize Plan

Insightful Accountant

The new tier will enable accountants to get all their QuickBooks transaction questions resolved from their clients quickly and easily—and the subscription is free.

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Overcome these Business Challenges in 2023

Accounting Department

Over the last few years, the rapid acceleration of accounting technology has redefined the way businesses go about their bookkeeping, operations, and more. This ramp-up in technology has caused a rise in the need for professional outsourced services and automation opportunities, however, business owners are still facing some challenges that can be avoided in 2023.

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How to Maximize Cloud Savings on Cyclical Workloads Using Commitment-Based Discounts

ProsperOps

The promise of elastic cloud infrastructure is the ability to quickly spin compute up and down and only pay for what you use. Workloads have different requirements and, depending on customer maturity level, take advantage of this capability to varying degrees. This ultimately leads to a wide variety of workload patterns from consistently stable to highly volatile.

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How to Harness the Power of Digital Marketing for Accounting Firms

Plooto

As technology has gotten more advanced and accessible, digital marketing for accounting firms has become one of the best ways to reach and service potential clients. From social media to podcasting, online marketing offers an effective way for accounting firms to build brand awareness and increase their visibility across multiple channels.

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How to Streamline Invoice Processing | Dynamics GP AP Workflow

Fidesic blog

In this article we will discuss Microsoft Dynamics GP AP workflow capabilities, when to use them, how to use them and alternatives for best results.

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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QuickBooks Business Network – A Vision on the Way

Insightful Accountant

Murph brings you up to date on the vision that is the QuickBooks Business Network. While it's not fully capable yet, it's getting there, and appears to be heading in the right direction.

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In the face of disruption, the advisory industry is stronger than ever

Xero

Over recent years, the world of advisory has experienced a seismic shift. In the face of immense obstacles and equally great learnings, the profession is evolving. Why? Because, more than ever, accountants and bookkeepers are embracing change – and it’s propelling the industry forward. So what led us here? The past few years have seen small businesses lean heavily on their advisors to survive the pandemic’s ripple effects.

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The Lowdown on Accounting Process Automation

Accounting Department

Notorious for being time-consuming, manual processes consume a lot of time for businesses. This is caused by relying on spreadsheets to handle core accounting functions that could otherwise be completed in seconds or minutes, rather than hours or days. Not to mention every manual process is prone to human error, which could lead to additional costs, delays, and issues.

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B2B Cloud Software – Drift

ProsperOps

CASE STUDY Cloud Software: Drift Learn how CloudZero and ProsperOps help Drift make cost-informed engineering decisions, reduce resource usage, and automate the management of their discount commitments, reducing overall cloud costs and returning millions in savings to their AWS budget. Challenge Prior to working with CloudZero and ProsperOps, Drift’s finance and engineering teams were using their own methods for tracking, understanding, and managing their AWS bill and cost optimization per

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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Cash Flow Projections: Strengthen the Financial Future of your Business

Plooto

For businesses of all sizes, managing an organization’s cash flow is an essential ingredient for success. For a business to successfully manage its cash flow , it must first understand its current cash flow standing and consequently project how cash flow will look in the future.

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Is Internet Explorer really really “retired”? Not quite…

Fidesic blog

Microsoft implemented another gate to keep people on most client versions of Windows 10 from running Internet Explorer 11 on Feb 14.

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Password Managers – An Insightful Accountant Software Comparison

Insightful Accountant

Our readers are always asking for software comparisons, so Murph conducted a review of 10 Password Managers; tossed two out, but ranked the remaining eight for your consideration.

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Amazing Apprenticeships unlocks the power of apprenticeships for small businesses

Xero

In honour of National Apprenticeship Week , we spoke with Anna Morrison, the founder of Amazing Apprenticeships , a leading organisation in the education sector, working with schools, colleges and businesses of all sizes to tackle misconceptions and promote the benefits of apprenticeships. Starting out Bucking a family tradition of attending university, Anna leapt into the world of work with a temp job as a college receptionist, before rising through the ranks to take charge of employer-facing

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Rare Disease Day Hits Home with AccountingDepartment.com

Accounting Department

Rare Disease Day is the globally-coordinated movement on rare diseases, working towards equity in social opportunity, healthcare, and access to diagnosis and therapies for people living with rare diseases.

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Investing in the Future of Cloud FinOps Automation

ProsperOps

We recently announced an investment led by H.I.G. Growth Partners and a few other strategic investors. There’s no better time to expand our reach and deepen our capabilities, given the nascent maturity of FinOps as a discipline, not to mention the recession in tech. Most companies are leaving money on the table The FinOps Foundation’s 2023 State of FinOps report lays out the thesis for ProsperOps in 2023 and beyond.

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How to Win the Accounting Talent War in 2023

Plooto

Finding and retaining top accounting talent continues to be a challenge for CPA firms, especially after the pandemic has fundamentally changed how we work. However, with the right strategies, accounting firms can position themselves as employers of choice in order to attract the best and brightest candidates.

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4 Tips on How to Increase Productivity Using Your Microsoft 365 Subscription

Fidesic blog

Originally Published by Joseph Markovich at JCMAinc.

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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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Cyber Attacks Expected to Target Accounting Data in 2023

Insightful Accountant

A recent Deloitte Center for Controllership poll shows that 48.8% of C-suite and other executives are preparing for cyber events targeting their organizations’ accounting and financial data.

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Five tech trends for small businesses to watch in 2023

Xero

Technology advancements are continuously reshaping not only the way we work, but fundamentally how we operate across nearly every industry. With new innovations unlocked almost daily — each with a unique promise to transform how we do business — how do busy small businesses and their advisors separate the fad from the fancy? We’ve been doing a lot of thinking about this recently, and it’s a priority for us this year to help demystify some of these trends and shine a light on those which could be

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Be Prepared to Make These 5 Accounting Decisions

Accounting Department

For new and growing businesses, accounting may not be the most exciting topic for owners, however, it's good accounting that will keep a business alive and prepared for what is around the corner.

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Global Media Company

ProsperOps

CASE STUDY Global Media Company Discover how ProsperOps helped a global media company's FinOps team increase their Effective Savings Rate by over 50% within six months of adoption. Challenge Despite a mature cost optimization program, use of Reserved Instances (RIs), and support from a third-party RI commitment broker, the company was only achieving a 26% ESR (85th percentile) for its $17 million per month AWS compute spend.

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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

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Forecasting & Reporting for SaaS: How to Thrive in a Recession

Sage Intacct

When the market goes south, you need to have your forecasting and reporting capabilities dialed in more strongly than ever. In-depth and accurate reporting will enable you to keep your board and team up to date and confident that you can ensure continued profitability. Forecasting will help you analyze the impact of different plans and decisions before you commit to them.

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Cash Flow Problems Solved

Plooto

Managing cash flow is one of the most critical challenges facing small businesses today. Intuit's study, The State of Small Business Cash Flow , reported that "61% of small businesses around the world struggle with cash flow. Because of cash flow issues , nearly one-third of those surveyed cannot pay vendors, loans, themselves or their employees." Data from Guidant Financial shows that the No. 1 challenge for 32% of small business owners is lack of capital/cash flow.

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What's New with Xero: February 2023

Insightful Accountant

Xero is continually updating and upgrading its accounting platform to provide an enhanced look and feel, improved accessibility and faster features. Here are some of its recent and in-progress enhancements.

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Xero included in 2023 Bloomberg Gender-Equality Index

Xero

Xero’s commitment to diversity, inclusion and belonging has driven our inclusion in the Bloomberg Gender-Equality Index for the fourth consecutive year. Like last year, Xero is the one and only company headquartered in New Zealand to be included in the index, which is made up of 484 companies across 45 countries and regions. Our scores have improved each of the four years we’ve been included in the index, and we’re pleased to see our progress demonstrated in such a tangible way.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be