Samuel R Baker CPA, CFP®
1-847-478-9901 Serving Northern Illinois
318 Half Day Rd #288, Buffalo Grove IL 60089
If you are an accounting practitioner, will you please join us today by registering on our website? We'll keep you posted on our progress advancing the interests of practitioners.
join link Here to Form/Database
We should not be paying the software companies to use our data.
They should be paying us!Our aggregated data is extremely valuable. It's all about the data-Big Data is vital to a strategic response and strategy for our firms and our profession. If we do not put ourselves into the Big Data Stream, we will lose.
We have Three Main Goals Initially
Organize together to advance primary interests of our practices
Negotiate with software companies with the help of a law firm to give discounts and stop utilization of our data without paying for it. Our law firm will tell software companies what our terms are.
Preserve our data for future analytics projects, data mining, artificial intelligence and joint ventures to benefit our practices and profitability
Large tax and accounting software companies are disrupting the accounting industry and diverting digital assets and income away from CPA's, EA's, and other Practitioners.
Unfair Competition and Raising Prices for Software
The tax and accounting software companies are able to aggregate and perform data analytics on our firms' data. They collect this data every time it runs through their servers. This enables them to see the entire market and economics with our data in a way that individual firms could never see or understand. These large companies have great leverage and competitive advantage because they have very deep understanding of the market and customers.They create derivative products and services from that data and use these against us.
Given that the CPA industry is a very slow growth industry, we can't afford to lose any value whether its clients or the ability to create new value from existing assets. Because CPA's are used to years of slow growth, they are entrenched in an old way of operating where the software companies dictate to us what products, services, and software/functionality we can use and offer to our clients. A recent example of competition from them just came out on 11/17/17 as described in an article in Accountingtoday.com.
"Intuit QuickBooks debuted its first Chabot, during QuickBooks Connect 2017, to an audience primed for chat integrations. QuickBooks Assistant joins the growing ranks of accounting chat bots, which include Pegg from Sage and AskMyUncleSam, which answers tax-related questions."
This is in direct competition and contradiction of Intuit's inculcated belief that they are doing CPAs a favor. And Intuit will data mine all interactions with the chat-bot and further refine and solidify a competitive advantage which will continue squeezing CPA firms of revenue and clients.
What can we do?
This is a grass roots movement and a huge opportunity. We CPA's and firms can take action. We can organize ourselves and through this association force the data our practices generate through a Practitioner controlled central database or collection point.
Will you please join us today by registering on our website?
And we'll keep you posted on our progress advancing the interests of practitioners.
JOIN Link Here to Form/database