Did Clio raise $250 million to build "Clio Live"?

September 12, 2019 / 33:42/E111

In this episode, we cover Xerocon Brisbane announcements, a phenomenal $250 million VC raise by Clio, a niche law-firm app, and their plans to build a QuickBooks Live-type service offering. In other news, we look at some product offerings from SmartBooks, whose CEO claims AI is hype, at least for now, and Surf Accounts, the new kid in town, which claims to automate 90% of bookkeeping tasks. Meanwhile, merger mania hits CPA firms, and David and Blake start investigating, real-time, the MyPayrollHR fraud story that broke while they were recording this episode (for all the details, listen to episode 112) . All this and even more accounting and bookkeeping news you need to know!

Show Notes

01:21 – Jet lag does cause memory loss ... | ScienceDaily
01:39 – Thanks to everyone who made our trip to Boston for Accountex a success!
03:18 – Just a little off the top … Hit up Xerocon Brisbane for a trim
04:22 – If you need some insight about pricing, like our listener, Danielbreez, check out the Soul of Enterprise podcast, or read Ron Baker's book on the subject
05:32 – Xero’s small-biz ecosystem just got a little bigger | Voxy
08:12 – Xero revs up the bank engine, partnering with BP on their Australian fuel card program | CIO
09:03 – Clio blows the roof off of VC raises with a $250 MILLION round | The Globe and Mail
10:39 – How long before the other industry practice-management SaaS providers get off the bench and follow Clio's lead?
11:57 – Clio’s biggest competition is pen and paper? | Clio
14:17 – Could this be David's new side hustle - PBFaaS - Psychic Business Forecasting as a Service?
14:51 – Speaking of additional services, Square's got a new one - the Square EIN Assistant | Square
16:53 – Wake-up call - SaaS providers are starting to fill gaps where accountants and bookkeepers fall short.
18:11 – Former guest, Sabrina Parsons of LivePlan, tackles yet another challenge - sitting on the board of directors for Oregon Pacific Bank | Insightful Accountant
18:44 – Blake and David are significantly less than whelmed with QuickBooks Desktop's new features for 2020
20:27 – SmartBooks introduces a new practice-management workflow tool - Blake-approved! | PYMNTS.com
22:35 – Ireland-based Surf Accounts catches a wave (of BS?) into the U.S. market | Insightful Accountant
23:43 – M&A is hot, hot, hot ... according to surveyed tax and accounting professionals | CPA Trendlines
24:46 – Is this a buyer's or seller's market? Check out Ep. 110 to hear some expert opinions!
25:28 – Payroll-advance apps, like Earnin, are starting to face regulatory scrutiny | PYMNTS.com
26:59 – Breaking News Alert! We've got early details on the mystery of the missing MyPayrollHR company (and even more to come in the next episode!)
27:49 – “The whole place is going nuts!” Is this the payroll-processing version of Boiler Room?
29:24 – Governor Cuomo's statement re: MyPayrollHR | Albany Business Review
32:57 – Before we go, though, check THIS out! The LG G8X ThinQ Dual Screen phone! | Digital Trends
33:22 – Let us know if you've got some intel on the MyPayrollHR 'scandal', and also, whether you prefer one episode at a time, or want us to drop a bunch for your binge-listening enjoyment!

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.