Rockstar Profile: Kashoo's innovative approach to accounting

What does a mountain biker and a world-class singer/songwriter have in common?

An accounting system for their businesses that they love to brag about.

Not something you'd expect when the mere thought of accounting induces heavy sighs and strikes fear in the hearts of most small business owners.

At least until technology took a firm hold of the industry. And companies like Kashoo, based in Vancouver, came on the scene to offer business owners a new way to handle their finances and work with their accountants.

Money and Mimosas™, a daily podcast, covering everything you need to know about accounting & technology is launching this month. Click here to be the first to know about it! *Muah*

Money and Mimosas™, a daily podcast, covering everything you need to know about accounting & technology is launching this month. Click here to be the first to know about it! *Muah*

With Kashoo, data entry is virtually eliminated. Allowing business owners to see where they stand in the present moment and removing the burden previously placed on accountants to track down receipts and other mundane tasks.

And while innovation isn't something that accountants are accustomed to seeing, and some may feel that their livelihood is being threatened, the opportunities that Kashoo and other cloud accounting tools are providing is game changing. And accountants stand the chance make a fortune if they are willing to embrace these tools and require their clients switch to mobile applications. For tips on how to hit it big as an financial professional, click here to read how I landed a 6-figure project as an accountant.

This past Wednesday, Greg Fandrick, CMO of Kashoo, led a presentation in Oakland, CA. Just one of the many stops on their tour in the United States to chat with accountants and business owners.

Btw, when was the last time you heard of an accounting company doing a tour? Sounds like rockstar status to me. Yay! #moneyandmimosas

The Oakland presentation was hosted by the Quickbooks and Business Coaches organization and faciliated by its founder, Doug Skinner CEO of Honest Intentions.

Hanging out with Doug Skinner of Honest Intentions and Gary Fandrick, CMO of Kashoo.

Hanging out with Doug Skinner of Honest Intentions and Gary Fandrick, CMO of Kashoo.

Immediately, Fandrick displayed the creativity and innovative flavor that Kashoo embodies with an opening slide that shared the main differences between him and the CEO, Jim Secord. Pointing out the fact that Fandrick has hair. Secord does not. A few laughs from those in attendance, Fandrick went on describe where Kashoo has carved out its niche market and its plans for the future.

Read below for Kashoo's three main competitive advantages:

  1. Offline bookkeeping: their iPad app, which is the #1 accounting app on the iPad with over 150,000 downloads, allows you to perform full accounting tasks without an internet connection.
  2. Integration with Quickbooks: genius move to create a seamless integration with Quickbooks desktop which still, unfortunately, holds 92% of the market. People, puh-lease move to the cloud already.
  3. Whiteboxing: Not a common practice within accounting. Kashoo is allowing more established brands like Paychex and Liberty Tax use their functionality under the guise of their more recognizable name. I believe this is a gorgeous strategic move.

I am so stoked to see how Kashoo's innovative approach to technology will play out and affect how accountants position their services.

Now, I would love to hear from you! As an accountant, how do you think these technological advances are affecting your practice? Or if you work with an accountant, how does this change your relationship? 

Feel free to leave a comment below!

*Muah*

Danetha

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Danetha Doe is a business strategist and product launch expert. Her consulting practice helps businesses launch new apps, services and products and has worked with companies like Google and Audi. You can view her services, here.