reckon conf2015 (au / nz) adding value with syncdirect data
TRANSCRIPT
OUTCOMESDiscuss your future-proofed data strategy
Explore the opportunities – current & future
Prepare your practice & next steps
Shared Data
Small Business
InvoicingDebtors/creditors
PayrollProjects
AccountingPractice
General ledgerFinancial reports
Tax returnsGST reports
ONE LEDGER
DISCUSSIONIn Groups:
Has your practice defined a clear Data Strategy? Is it discussed or even considered?
What is your strategy around client software choice? Fit for purpose, moving to cloud, etc.
Have you adopted a One Ledger strategy? What is your experience?
How do you rate?1 Point Activities
Manually re-keying client Trial Balance into your GL.
Manually re-keying GL data into workpapers
Manually re-keying GL data into Tax Return
3 Point Activities
Limited use of Transactional Data Imports
Periodic Management Reporting from within Client’s system
Importing of data into Excel workpapers
GL Data Import into Tax Returns
5 Point Activities
Regular Transactional Data Imports
Personalised Management Reporting
Analytics, Performance Dashboards & Ratios
‘What If’ Analysis & forecasting
Family Group Financial Reporting
Comparisons & Benchmarking
DISCUSSIONIn Groups:
How does your practice currently add value to data collected from clients?
What future opportunities do you see for extracting value?
Has this session changed or evolved your thinking – how so?
ADDING VALUEToday:
Periodic Management Reporting via XPA
XPA Performance Dashboards & Ratios (publish to portal)
‘What If’ Analysis & Charts via XPA Data Import
XPA Ledger Sync into SQL
Alerts and exception reports
Benchmarking
ADDING VALUEIdeas for Tomorrow:
Group Reporting
Performance Dashboards combining XPA, Tax & PM data
Additional connectors for SyncDirect
Additional data sets via SyncDirect
Practice ‘Apps’
NEXT STEPSInitiate a practice discussion regarding Data Strategy
Review your XPA configuration
Periodic Ledgers
Introduce Tag Set Functionality
Review existing XPA Management Reporting
Identify areas where you can leverage Practice IP
Get started with capturing data via SyncDirect…..then scale up!