Digital Disruptor Awards, AI to CREATE jobs?! and a class-clash on holidays || PLUS Employment Hero

[00:00:00] [SPEAKER_08]: Hello and welcome to today's episode of Digital Tours in Accrual World and welcome back.

[00:00:05] [SPEAKER_08]: We are currently not all back at the moment.

[00:00:08] [SPEAKER_08]: We've entered what is the Twilight Zone of holiday season.

[00:00:13] [SPEAKER_08]: So there's a little bit of me, a little bit of Ryan, a little bit of John, a little bit of Lee.

[00:00:18] [SPEAKER_08]: Every other week we're entertaining each other's holidays as they el-

[00:00:25] [SPEAKER_08]: Mine sound a little bit more luxurious than John's, which Ryan was just telling me about now is a tent in a field.

[00:00:33] [SPEAKER_08]: But today we've got a great episode coming to you.

[00:00:37] [SPEAKER_08]: We're covering the partnership strategic alliance between NYOB and Silverfin.

[00:00:43] [SPEAKER_08]: We've got app news and we're going to talk to you about our upcoming awards event,

[00:00:49] [SPEAKER_08]: which if you haven't seen where have been, what type of rock are you living under?

[00:00:56] [SPEAKER_08]: Because we would like to know the specimen and quality of it is.

[00:01:00] [SPEAKER_08]: Ryan is going to talk more about this because while I've been sunning it up in the MLP,

[00:01:06] [SPEAKER_08]: Ryan has been hard at work making sure that this awards event is off the ground and ready.

[00:01:14] [SPEAKER_08]: And it is unique and there is a whole panel of judges behind this.

[00:01:18] [SPEAKER_08]: So Ryan, how are you and how's it going?

[00:01:21] [SPEAKER_09]: Thanks, Indy. Yeah, I've not been sunning it up in the MLP or hiding in a tent in a field like John.

[00:01:28] [SPEAKER_09]: Now I've been busy working and delivering the launch of our inaugural awards event,

[00:01:34] [SPEAKER_09]: which is going to be taking place on the 16th of September.

[00:01:38] [SPEAKER_09]: So yeah, it's really exciting nominations are open if you haven't nominated by the time you get to this.

[00:01:43] [SPEAKER_09]: You've probably only got a couple of days to do so.

[00:01:45] [SPEAKER_09]: So please make sure that you do look up on the socials and make sure you hit the nominate button

[00:01:51] [SPEAKER_09]: because anyone can be nominated for these awards.

[00:01:54] [SPEAKER_09]: It is not something that you apply for.

[00:01:56] [SPEAKER_09]: You have to nominate someone else and anyone can win.

[00:01:59] [SPEAKER_09]: We're going to be streaming the awards live on the 16th of September from Manchester

[00:02:03] [SPEAKER_09]: and yeah, it's going to be probably one of a kind of awards event.

[00:02:08] [SPEAKER_09]: That's how we're designing it to be anyway.

[00:02:09] [SPEAKER_09]: So yeah, I'm really excited for this. You excited for it as well, Indy?

[00:02:13] [SPEAKER_08]: I am. We're heading up to the awards event just to give it a little look-see

[00:02:20] [SPEAKER_08]: and I think that I'm quite excited because it's ahead of Accountex North,

[00:02:26] [SPEAKER_08]: which is a great conference, a little bit different, more intimate.

[00:02:33] [SPEAKER_08]: Generally it's a better crowd of people because a lot of friendly faces,

[00:02:39] [SPEAKER_08]: a lot of friendly faces compared to...

[00:02:40] [SPEAKER_09]: What are you saying about Londoners? What are you saying?

[00:02:43] [SPEAKER_09]: Ask them themselves.

[00:02:44] [SPEAKER_08]: Maybe even olders just tend to know how to serve up a good smile.

[00:02:49] [SPEAKER_08]: Don't know how to serve us up.

[00:02:54] [SPEAKER_08]: It's just a smaller event and I think that it's easier to get around the event room,

[00:02:59] [SPEAKER_08]: the event hall for that reason, meet a lot of different people.

[00:03:03] [SPEAKER_08]: Everyone has a side event but it's not too intrusive

[00:03:07] [SPEAKER_08]: so everyone can end up at the same place at the end of the night.

[00:03:12] [SPEAKER_08]: Really looking forward to our awards event because I think there's going to be a nice addition

[00:03:16] [SPEAKER_08]: to what Accountex North is all about

[00:03:19] [SPEAKER_08]: and the fact that we're able to celebrate some different names in the industry,

[00:03:25] [SPEAKER_08]: not your usual awards event.

[00:03:29] [SPEAKER_08]: It's not something that I think we're trying to step on anyone's toes with,

[00:03:35] [SPEAKER_08]: we're just doing something that allows other voices, other names to come into the fold

[00:03:40] [SPEAKER_08]: and give some appreciation so that people know that there are other approaches

[00:03:46] [SPEAKER_08]: to how different firms are running their businesses and making gains in this space.

[00:03:55] [SPEAKER_08]: I'm quite looking forward to it. Still looking forward to seeing you in a wig as well

[00:04:00] [SPEAKER_08]: and that will be the highlight for tonight.

[00:04:02] [SPEAKER_09]: I'm not sure this is going to happen.

[00:04:04] [SPEAKER_09]: I know you and John keep saying that you're going to get me in a wig for the night

[00:04:07] [SPEAKER_09]: but I'm just not sure I could pull it off.

[00:04:10] [SPEAKER_08]: You know what you can, we really need to make sure that you stand out

[00:04:14] [SPEAKER_08]: from all of the other whiteboard men.

[00:04:18] [SPEAKER_06]: Politically challenged gentlemen in our industry.

[00:04:23] [SPEAKER_09]: Wow, I mean that's just unbelievable that you can get away with saying that.

[00:04:28] [SPEAKER_09]: I think the thing for us is that if you are going to Accountex North

[00:04:34] [SPEAKER_09]: please do check out our awards the night before and come along

[00:04:38] [SPEAKER_09]: and vice versa, if you're thinking about coming to our awards night

[00:04:41] [SPEAKER_09]: also do make sure you go to Accountex North.

[00:04:45] [SPEAKER_09]: They're tied in together. It's going to be a great couple of days

[00:04:48] [SPEAKER_09]: and if you want to know more about how it works

[00:04:49] [SPEAKER_09]: check out our YouTube channel. We explain it in full

[00:04:53] [SPEAKER_09]: listing the judges and explain why we've created this

[00:04:56] [SPEAKER_09]: and how it will lead up to our first award...

[00:05:01] [SPEAKER_09]: awarding?

[00:05:03] [SPEAKER_09]: Is that as I would?

[00:05:05] [SPEAKER_08]: Rewarding, rewarding, awarding.

[00:05:08] [SPEAKER_09]: But before any of that

[00:05:09] [SPEAKER_09]: you've got to do some app news, haven't we?

[00:05:16] [SPEAKER_00]: Straight into the news then with a big update from Silverfin

[00:05:20] [SPEAKER_00]: and MYOB based over in Australia

[00:05:23] [SPEAKER_00]: they've announced a 10-year partnership

[00:05:26] [SPEAKER_00]: which is an exclusive partnership with MYOB

[00:05:30] [SPEAKER_00]: to help build out Silverfin's platform into the MYOB tech stack

[00:05:35] [SPEAKER_00]: to enhance their presence over in Australia and New Zealand

[00:05:39] [SPEAKER_00]: and to enable them to bring things like

[00:05:43] [SPEAKER_00]: Australia and New Zealand specific templates

[00:05:45] [SPEAKER_00]: and accounting and tax requirements into Silverfin

[00:05:49] [SPEAKER_00]: to help their expansion.

[00:05:51] [SPEAKER_00]: So fascinating announcement this I think

[00:05:54] [SPEAKER_00]: because I guess probably for many people

[00:05:57] [SPEAKER_00]: in the zero ecosystem of products

[00:06:00] [SPEAKER_00]: they view MYOB a little bit

[00:06:02] [SPEAKER_00]: like Sage used to be viewed as the dinosaur firm

[00:06:05] [SPEAKER_00]: or dinosaur business in the accounting tech space

[00:06:08] [SPEAKER_00]: but of course they still have a massive presence over there

[00:06:10] [SPEAKER_00]: and this is really interesting to see Silverfin

[00:06:13] [SPEAKER_00]: steal a march into MYOB's territory

[00:06:17] [SPEAKER_00]: to expand their presence over there.

[00:06:20] [SPEAKER_00]: Lots of interesting things announced around this

[00:06:23] [SPEAKER_00]: in terms of how things like artificial intelligence

[00:06:26] [SPEAKER_00]: can improve the way that your bookkeeping

[00:06:29] [SPEAKER_00]: and the accounts compliance process is done

[00:06:32] [SPEAKER_00]: and also how leveraging MYOB expertise

[00:06:36] [SPEAKER_00]: will help Silverfin to streamline

[00:06:40] [SPEAKER_00]: and shortcut their entrance into the market.

[00:06:43] [SPEAKER_00]: So I think it's going to be one to watch.

[00:06:47] [SPEAKER_00]: I think it's going to be really interesting to see

[00:06:49] [SPEAKER_00]: how accountants in Australia react to this

[00:06:51] [SPEAKER_00]: particularly maybe those ones that are more

[00:06:55] [SPEAKER_00]: lent into the zero ecosystem

[00:06:56] [SPEAKER_00]: than are still using maybe a hybrid of both.

[00:07:00] [SPEAKER_00]: But yeah, what an announcement

[00:07:02] [SPEAKER_00]: and what a way to launch into a new territory.

[00:07:05] [SPEAKER_09]: So am I right that this is an exclusive partnership?

[00:07:07] [SPEAKER_09]: That you have to be using MYOB

[00:07:10] [SPEAKER_09]: to work with Silverfin, is that how it works?

[00:07:13] [SPEAKER_00]: So yeah, my understanding is that effectively

[00:07:17] [SPEAKER_00]: they are I guess almost like white labelling

[00:07:20] [SPEAKER_00]: Silverfin into the MYOB platform.

[00:07:22] [SPEAKER_00]: Yeah, so that is kind of going to be the way that it works.

[00:07:25] [SPEAKER_00]: And so you'll start off with your pre-accounting stuff

[00:07:29] [SPEAKER_00]: and your bookkeeping stuff and say maybe

[00:07:31] [SPEAKER_00]: next in zero then push it into this white labelled

[00:07:35] [SPEAKER_00]: version of Silverfin which will then flow through

[00:07:37] [SPEAKER_00]: into the MYOB practice tools.

[00:07:39] [SPEAKER_00]: So that is my understanding of how this is going to work.

[00:07:42] [SPEAKER_00]: Oh, can't wait to hear a bit more from them

[00:07:44] [SPEAKER_00]: when we talk to them later.

[00:07:46] [SPEAKER_00]: Absolutely.

[00:07:47] [SPEAKER_00]: And then just for follow-up on a little bit more

[00:07:50] [SPEAKER_00]: AI chat but Sage did some research fairly recently

[00:07:54] [SPEAKER_00]: and this is a mixture of sort of independent research

[00:07:56] [SPEAKER_00]: as well because they got someone to assist

[00:07:58] [SPEAKER_00]: with the collection of this data

[00:08:00] [SPEAKER_00]: and worked alongside ACCA as well.

[00:08:03] [SPEAKER_00]: But the summary of that was that

[00:08:05] [SPEAKER_00]: they reckon there is a two billion

[00:08:07] [SPEAKER_00]: AI accounting opportunity

[00:08:09] [SPEAKER_00]: and the opportunity to create an additional 20,000 jobs

[00:08:13] [SPEAKER_00]: in the UK economy as a consequence of utilizing AI.

[00:08:17] [SPEAKER_00]: What I really drilled into which I was really interested in

[00:08:19] [SPEAKER_00]: was that the research labelled accounting professionals

[00:08:23] [SPEAKER_00]: as technology optimist was 61% stating that

[00:08:27] [SPEAKER_00]: they believe AI will create more opportunities

[00:08:29] [SPEAKER_00]: than risks and 68% feeling confident

[00:08:32] [SPEAKER_00]: that they will be able to adapt AI technologies.

[00:08:35] [SPEAKER_00]: There were some underlying markers

[00:08:38] [SPEAKER_00]: in terms of issues that people were concerned about.

[00:08:40] [SPEAKER_00]: Mainly I guess things that are probably not untypical

[00:08:43] [SPEAKER_00]: from what we heard when the cloud accounting revolution

[00:08:45] [SPEAKER_00]: came around, so it's things like data security,

[00:08:48] [SPEAKER_00]: things like remaining compliant,

[00:08:50] [SPEAKER_00]: whether or not there were then legal and ethical issues

[00:08:53] [SPEAKER_00]: which is probably a new one

[00:08:54] [SPEAKER_00]: and also being able to clarify and explain

[00:08:56] [SPEAKER_00]: what AI is doing and then some concerns

[00:08:59] [SPEAKER_00]: about testing and accuracy of the data.

[00:09:02] [SPEAKER_00]: And then the final sort of set of stats

[00:09:03] [SPEAKER_00]: that I thought were really, really interesting

[00:09:05] [SPEAKER_00]: was there was a summary of where things are currently

[00:09:09] [SPEAKER_00]: using AI technology and this wasn't focused just on gen AI.

[00:09:12] [SPEAKER_00]: I was looking at the sort of broad umbrella of technologies.

[00:09:15] [SPEAKER_00]: 51% of respondents said that they were using chatbots

[00:09:18] [SPEAKER_00]: for client communication support

[00:09:20] [SPEAKER_00]: which I found absolutely staggering.

[00:09:22] [SPEAKER_00]: I mean, I personally don't see that many chatbots

[00:09:25] [SPEAKER_00]: for clients to interact with their practice firms

[00:09:29] [SPEAKER_00]: that they're utilizing.

[00:09:30] [SPEAKER_00]: So I wonder if this is more around people are using chatbots

[00:09:34] [SPEAKER_00]: within practices to interact with say things like Zero Help

[00:09:37] [SPEAKER_00]: or QuickBooks Help or whatever.

[00:09:39] [SPEAKER_00]: 34% said that we're using AI machine learning tools

[00:09:41] [SPEAKER_00]: for automating repetitive tasks.

[00:09:44] [SPEAKER_00]: 32% were using AI driven insights and reporting

[00:09:47] [SPEAKER_00]: which I found quite interesting

[00:09:48] [SPEAKER_00]: because quite a lot of that's only fairly recently

[00:09:52] [SPEAKER_00]: been launched into products like SIFT

[00:09:53] [SPEAKER_00]: which we've talked about

[00:09:54] [SPEAKER_00]: and then others were using OCR

[00:09:57] [SPEAKER_00]: and data extraction technologies

[00:09:58] [SPEAKER_00]: but again, the numbers were very small.

[00:10:00] [SPEAKER_00]: So you're talking around about a third of practices.

[00:10:04] [SPEAKER_00]: So that is fascinating to see

[00:10:06] [SPEAKER_00]: because that just shows that practices have got way to go

[00:10:09] [SPEAKER_00]: on just adopting what I would call like the baseline AI technologies

[00:10:14] [SPEAKER_00]: before we even get into gen AI

[00:10:15] [SPEAKER_00]: and I know from research that HRB International did

[00:10:19] [SPEAKER_00]: which is the network that my firm's part of,

[00:10:21] [SPEAKER_00]: they have already said that

[00:10:23] [SPEAKER_00]: businesses in general adopting gen AI

[00:10:25] [SPEAKER_00]: need to have killer use cases

[00:10:27] [SPEAKER_00]: to be able to make a really good fist of getting

[00:10:30] [SPEAKER_00]: the most out of AI technologies

[00:10:32] [SPEAKER_00]: and also to be really, really focused around it.

[00:10:35] [SPEAKER_09]: We have had an announcement from Lucy Cohen at Masouma

[00:10:41] [SPEAKER_09]: in that they have appointed Gary Turner

[00:10:43] [SPEAKER_09]: onto the board of directors.

[00:10:45] [SPEAKER_09]: Gary Turner, hopefully everyone that business is part

[00:10:47] [SPEAKER_09]: has heard of was the ex-UK MD of Zero

[00:10:52] [SPEAKER_09]: massive figure in this space

[00:10:53] [SPEAKER_09]: but I think Lucy Cohen is also a massive figure in this space

[00:10:56] [SPEAKER_09]: and I'm not sure who would be more chuffed to be working with whom.

[00:11:00] [SPEAKER_09]: I'm sure Gary has been aching to be working with Lucy

[00:11:02] [SPEAKER_09]: ever since she's been developing and growing Masouma

[00:11:05] [SPEAKER_09]: and now getting all of that equity investment as well.

[00:11:07] [SPEAKER_00]: Yeah, I think this is great for both parties isn't it?

[00:11:10] [SPEAKER_00]: And what a, you know, it's like dream team I guess.

[00:11:14] [SPEAKER_09]: Like the rock version of Ken and Barbie

[00:11:16] [SPEAKER_09]: or Barbie and Ken isn't it?

[00:11:18] [SPEAKER_09]: Or heavy metal version.

[00:11:20] [SPEAKER_00]: Definitely won't be that pink though would it

[00:11:21] [SPEAKER_00]: because it'd have to be more of a garter

[00:11:25] [SPEAKER_00]: and strive ex-convote to go for the pink I think.

[00:11:27] [SPEAKER_00]: Yeah, I think so.

[00:11:29] [SPEAKER_00]: Talking about Gary's,

[00:11:30] [SPEAKER_00]: Dockit AI have announced a new AI based

[00:11:33] [SPEAKER_00]: bookkeeping tool called Gary

[00:11:35] [SPEAKER_00]: which stands for Generative Accounting Retrieval System.

[00:11:39] [SPEAKER_00]: They've announced this inevitably into the QuickBooks ecosystem

[00:11:42] [SPEAKER_00]: because they're a US based business

[00:11:45] [SPEAKER_00]: and they have in particular sort of targeted things

[00:11:49] [SPEAKER_00]: like franchisees in the hospitality space

[00:11:51] [SPEAKER_00]: and also worked with other organizations

[00:11:55] [SPEAKER_00]: such as Subway, Citigo and Farmers Insurance

[00:12:00] [SPEAKER_00]: and they've been using this tool now for a little time

[00:12:04] [SPEAKER_00]: just to sort of be to test it

[00:12:06] [SPEAKER_00]: and get it out ready for launch.

[00:12:08] [SPEAKER_00]: So what does Gary do?

[00:12:10] [SPEAKER_00]: Gary combines precision and predictive AI models

[00:12:13] [SPEAKER_00]: with Generative AI tools

[00:12:14] [SPEAKER_00]: which in theory should streamline the digital back office

[00:12:17] [SPEAKER_00]: and they have estimated at Dockit

[00:12:20] [SPEAKER_00]: that they can accelerate the month and close

[00:12:22] [SPEAKER_00]: from two weeks down to 45 minutes

[00:12:26] [SPEAKER_00]: which seems like an absolutely staggering amount of time to say.

[00:12:29] [SPEAKER_00]: It doesn't actually say in the press release

[00:12:32] [SPEAKER_00]: exactly what it is that Gary is doing in terms of

[00:12:34] [SPEAKER_00]: is it handling things like prepayments in the cruise?

[00:12:37] [SPEAKER_00]: Is it handling the day-to-day sort of bookkeeping

[00:12:40] [SPEAKER_00]: which we're familiar with, things like Genesis for example.

[00:12:45] [SPEAKER_00]: So it'd be great to sort of learn a little bit more

[00:12:47] [SPEAKER_00]: about what is the detail behind this

[00:12:50] [SPEAKER_00]: but essentially they have said that you can help

[00:12:55] [SPEAKER_00]: with finding documents and also

[00:12:59] [SPEAKER_00]: you're looking for information that's missing.

[00:13:01] [SPEAKER_00]: So it sounds like a little bit of a hybrid

[00:13:02] [SPEAKER_00]: of maybe one or two different things

[00:13:04] [SPEAKER_00]: that we're familiar with here in the UK

[00:13:05] [SPEAKER_00]: but as I say, they haven't really sort of drilled down into

[00:13:09] [SPEAKER_00]: as far as I'm concerned how they sort of substantiate

[00:13:12] [SPEAKER_00]: that massive claim of being able to reduce

[00:13:14] [SPEAKER_00]: that month end process to such a short amount of time

[00:13:18] [SPEAKER_00]: but I'm sure we shall see how that works

[00:13:21] [SPEAKER_00]: and we also maybe get to learn more about this

[00:13:25] [SPEAKER_00]: particularly if it comes to the UK.

[00:13:28] [SPEAKER_09]: Yeah, I'm skeptical unsurprisingly.

[00:13:30] [SPEAKER_09]: I mean the amount of stuff that goes into

[00:13:32] [SPEAKER_09]: gallery information, reconciling information

[00:13:35] [SPEAKER_09]: reviewing it to do a month thing close in 45 minutes

[00:13:40] [SPEAKER_09]: you're combining a lot of different systems that are

[00:13:44] [SPEAKER_09]: still trying to work out how to deliver AI

[00:13:46] [SPEAKER_09]: and just the individual elements.

[00:13:47] [SPEAKER_09]: I do not think that's going to be our deal.

[00:13:50] [SPEAKER_09]: Sorry, docket, don't believe you.

[00:13:52] [SPEAKER_09]: Proved me wrong.

[00:13:53] [SPEAKER_09]: So on a different AI piece of technology

[00:13:56] [SPEAKER_09]: Genesis have released Jack 2.0.

[00:13:59] [SPEAKER_09]: So if you've been following Genesis

[00:14:01] [SPEAKER_09]: and their journey, what they've been doing

[00:14:04] [SPEAKER_09]: is building Jack which is the automated

[00:14:08] [SPEAKER_09]: bookkeeper but OCR tool.

[00:14:09] [SPEAKER_09]: So replacing I guess, you know, what a dexed auto entry

[00:14:14] [SPEAKER_09]: data Malino would do but use AI to work out

[00:14:19] [SPEAKER_09]: where the transaction should be allocated

[00:14:21] [SPEAKER_09]: what VAT should be used rather than

[00:14:24] [SPEAKER_09]: I guess predefined scripts that is what the

[00:14:26] [SPEAKER_09]: first class of OCR tools would do.

[00:14:29] [SPEAKER_09]: So Jack was built, they were testing it

[00:14:32] [SPEAKER_09]: for a long period of time.

[00:14:33] [SPEAKER_09]: It was I think due to be released in June or July

[00:14:36] [SPEAKER_09]: and instead they've decided to build Jack 2.0

[00:14:38] [SPEAKER_09]: which has taken I guess what they've learned from Jack

[00:14:40] [SPEAKER_09]: and completely restructured it is now going through

[00:14:42] [SPEAKER_09]: beta testing as launched and we'd expect

[00:14:45] [SPEAKER_09]: Jack 2.0 to release later in 2024.

[00:14:50] [SPEAKER_09]: I'm intrigued by this.

[00:14:52] [SPEAKER_09]: I'm intrigued by the rebuilt it.

[00:14:53] [SPEAKER_09]: They've not really said why.

[00:14:54] [SPEAKER_09]: They are competing now in another tool

[00:14:56] [SPEAKER_09]: in the space called briefcase that has launched.

[00:14:59] [SPEAKER_09]: So I hope that Jack 2.0 has, I guess

[00:15:04] [SPEAKER_09]: the delay of releasing Jack has been

[00:15:07] [SPEAKER_09]: because they've identified actually from our

[00:15:10] [SPEAKER_09]: initial testing phase we can do a lot better.

[00:15:12] [SPEAKER_09]: We can we can put it from the ground up

[00:15:14] [SPEAKER_09]: and I'm still very excited to see what this will be like

[00:15:18] [SPEAKER_09]: when it formally launches soon.

[00:15:19] [SPEAKER_00]: I've got a little bit of news from Kibyo.

[00:15:22] [SPEAKER_00]: So they've now fully announced or fully integrated

[00:15:26] [SPEAKER_00]: rather I should say the CIS modules

[00:15:29] [SPEAKER_00]: that you can now file direct with HMRC.

[00:15:32] [SPEAKER_00]: So this is a massive thing for anyone using

[00:15:35] [SPEAKER_00]: QBO and using the CIS module because previously

[00:15:39] [SPEAKER_00]: you had to effectively do the manual filing

[00:15:41] [SPEAKER_00]: which is always a bit of a pain in the backside.

[00:15:44] [SPEAKER_00]: And there's the only still the competitors in the market

[00:15:46] [SPEAKER_00]: and had direct filing for quite a while.

[00:15:49] [SPEAKER_00]: So it's good to see that they've brought that in.

[00:15:51] [SPEAKER_00]: It's nice little time saver and that you know

[00:15:53] [SPEAKER_00]: once I sort of a one click reporting option

[00:15:56] [SPEAKER_00]: if they can have it.

[00:15:57] [SPEAKER_09]: Yeah, they've caught up and there's been a gap

[00:15:59] [SPEAKER_09]: isn't it compared to the competitors

[00:16:00] [SPEAKER_09]: they have filled that gap.

[00:16:02] [SPEAKER_09]: And I guess this is now not an excuse.

[00:16:05] [SPEAKER_09]: I assume some would use to pick the likes of zero

[00:16:07] [SPEAKER_09]: over cripples online need to be filled

[00:16:09] [SPEAKER_09]: and have done that adequately.

[00:16:11] [SPEAKER_09]: Talking about zero there has been a bumper release

[00:16:13] [SPEAKER_09]: of apps on the zero app store in July

[00:16:16] [SPEAKER_09]: and we don't normally talk through these

[00:16:17] [SPEAKER_09]: but they were so interesting I thought I picked them up.

[00:16:20] [SPEAKER_09]: So one of them was a system called jobber

[00:16:22] [SPEAKER_09]: if you've not heard of jobber that's in the trade area

[00:16:25] [SPEAKER_09]: and it's all about I guess creating jobs

[00:16:28] [SPEAKER_09]: for your trades.

[00:16:31] [SPEAKER_09]: So since the customer's product services

[00:16:34] [SPEAKER_09]: and invoicing payments all through to zero

[00:16:35] [SPEAKER_09]: it's on a smaller end.

[00:16:37] [SPEAKER_09]: So if you're looking at the trade set

[00:16:38] [SPEAKER_09]: it's on a smaller end but yeah interesting tool there

[00:16:41] [SPEAKER_09]: you've got prosaic which a lot

[00:16:44] [SPEAKER_09]: there's been a massive amount of discussion

[00:16:46] [SPEAKER_09]: on this from over in Australia

[00:16:48] [SPEAKER_09]: in how it helps sole traders

[00:16:51] [SPEAKER_09]: and small businesses identify

[00:16:53] [SPEAKER_09]: those business expenses

[00:16:55] [SPEAKER_09]: that have gone through personal accounts.

[00:16:56] [SPEAKER_09]: So if you've got that blend where they're putting

[00:16:58] [SPEAKER_09]: all of their I guess business related costs

[00:17:01] [SPEAKER_09]: through the personal accounts is that way to

[00:17:02] [SPEAKER_09]: automate that and identify additional

[00:17:04] [SPEAKER_09]: potential claims that are tax benefits

[00:17:06] [SPEAKER_09]: that they can throw through.

[00:17:08] [SPEAKER_09]: Got lots of praise over in the

[00:17:10] [SPEAKER_09]: Australia region would be interesting to see

[00:17:12] [SPEAKER_09]: how that comes over into the UK.

[00:17:14] [SPEAKER_09]: You've got runway another forecasting

[00:17:16] [SPEAKER_09]: and business modeling tool

[00:17:18] [SPEAKER_09]: all about that kind of early part of a business

[00:17:21] [SPEAKER_09]: looking at how much you've got from a

[00:17:24] [SPEAKER_09]: investment perspective

[00:17:25] [SPEAKER_09]: and how long that's going to take before you run out of money.

[00:17:28] [SPEAKER_09]: Cash flow forecasting reporting forecasting

[00:17:30] [SPEAKER_09]: they're very niche in how they're doing it

[00:17:32] [SPEAKER_09]: but there's been a need for this

[00:17:34] [SPEAKER_09]: and so I think it's great that the tool has

[00:17:37] [SPEAKER_09]: come and filled that space

[00:17:39] [SPEAKER_09]: and then you've got a system called

[00:17:41] [SPEAKER_09]: compare your footprint another one

[00:17:43] [SPEAKER_09]: in that net zero

[00:17:45] [SPEAKER_09]: sphere we've probably got dozens if not

[00:17:47] [SPEAKER_09]: hundreds of these now

[00:17:49] [SPEAKER_09]: so another one that fills that gap

[00:17:51] [SPEAKER_09]: compare your footprint is there

[00:17:52] [SPEAKER_09]: and then one I definitely want to touch on is

[00:17:54] [SPEAKER_09]: do you remember reducer

[00:17:56] [SPEAKER_09]: from way back when pre-covid reducer

[00:17:58] [SPEAKER_09]: are back to integrate back into the zero

[00:18:00] [SPEAKER_09]: app store they are back

[00:18:02] [SPEAKER_09]: and saving money for those businesses that

[00:18:04] [SPEAKER_09]: are trying to reduce costs

[00:18:05] [SPEAKER_09]: in areas such as insurance

[00:18:08] [SPEAKER_09]: and light and heat and phone

[00:18:10] [SPEAKER_09]: bill so if you are an accountant

[00:18:12] [SPEAKER_09]: you can throw your clients that are on

[00:18:14] [SPEAKER_09]: your zero license into reducer it'll

[00:18:16] [SPEAKER_09]: calculate where there's potential savings and you can have

[00:18:18] [SPEAKER_09]: those discussions with those their analysis

[00:18:20] [SPEAKER_09]: their analysts to work out

[00:18:23] [SPEAKER_09]: actually do we have those

[00:18:25] [SPEAKER_09]: conversations with the clients to save the money

[00:18:28] [SPEAKER_00]: I'm super happy that

[00:18:29] [SPEAKER_00]: the reducer team are back

[00:18:30] [SPEAKER_00]: I remember catching up with them a little

[00:18:33] [SPEAKER_00]: while ago just to find out

[00:18:35] [SPEAKER_00]: what had been going on in the back store

[00:18:36] [SPEAKER_00]: and things and yeah it was

[00:18:39] [SPEAKER_00]: it was great to catch up with

[00:18:41] [SPEAKER_00]: you know Rishi and the team

[00:18:43] [SPEAKER_00]: and just to see what had been going on

[00:18:45] [SPEAKER_00]: and I think it's been a

[00:18:47] [SPEAKER_00]: labour of love shall we say

[00:18:48] [SPEAKER_00]: to kind of you know rise

[00:18:50] [SPEAKER_00]: you know get the

[00:18:52] [SPEAKER_00]: phoenix to rise from the ashes of what

[00:18:54] [SPEAKER_00]: was there previously and obviously

[00:18:56] [SPEAKER_00]: they took a big hit when

[00:18:58] [SPEAKER_00]: things like the energy markets and stuff

[00:19:00] [SPEAKER_00]: kind of first came off the rails a while ago

[00:19:02] [SPEAKER_00]: and they couldn't really do

[00:19:04] [SPEAKER_00]: what they were traditionally there set up

[00:19:06] [SPEAKER_00]: to do but I think it's delightful

[00:19:08] [SPEAKER_00]: to see them back because that was one of the

[00:19:10] [SPEAKER_00]: products I used to love signposting

[00:19:12] [SPEAKER_09]: clients towards. If you do want to know a bit more

[00:19:14] [SPEAKER_09]: about app news please do make

[00:19:16] [SPEAKER_09]: sure you subscribe to our

[00:19:19] [SPEAKER_09]: newsletter and check

[00:19:20] [SPEAKER_09]: out the show notes and

[00:19:22] [SPEAKER_09]: any releases that we put on social

[00:19:24] [SPEAKER_09]: media we would love to hear your comments

[00:19:26] [SPEAKER_09]: your thoughts and if you don't agree with us

[00:19:28] [SPEAKER_09]: on anything we talk about you know we

[00:19:30] [SPEAKER_09]: another challenge. We're back again with

[00:19:36] [SPEAKER_00]: Kevin Fitzgerald from Employment Hero

[00:19:38] [SPEAKER_00]: and we're now going to move

[00:19:40] [SPEAKER_00]: on and talk about what Ryan has

[00:19:42] [SPEAKER_00]: described as the tender for recruitment

[00:19:44] [SPEAKER_00]: I'm not entirely sure if that's a

[00:19:46] [SPEAKER_00]: your reflection on Ryan's experience

[00:19:48] [SPEAKER_00]: with Tinder or maybe his experience

[00:19:50] [SPEAKER_00]: with recruitment it could be one or the other

[00:19:52] [SPEAKER_00]: or both who knows but

[00:19:55] [SPEAKER_00]: Kevin I'd love

[00:19:56] [SPEAKER_00]: for you to kind of expand on this very vague

[00:19:59] [SPEAKER_00]: point in terms of

[00:20:01] [SPEAKER_00]: what is it

[00:20:02] [SPEAKER_00]: that you think you guys have got

[00:20:04] [SPEAKER_00]: an Employment Hero instead of the Employee

[00:20:06] [SPEAKER_00]: Platform and the capabilities

[00:20:08] [SPEAKER_00]: that I know you've got in terms of utilizing

[00:20:10] [SPEAKER_00]: AI to help match

[00:20:12] [SPEAKER_00]: potential candidates to roles that

[00:20:14] [SPEAKER_00]: businesses are recruiting for.

[00:20:16] [SPEAKER_01]: Yeah thanks John I don't

[00:20:18] [SPEAKER_01]: think we've described it as Tinder

[00:20:19] [SPEAKER_01]: for recruitment by the way

[00:20:21] [SPEAKER_01]: but certainly smart match seems

[00:20:24] [SPEAKER_01]: a little bit more safer

[00:20:25] [SPEAKER_01]: in terms of what we're aiming to do

[00:20:28] [SPEAKER_01]: ultimately

[00:20:30] [SPEAKER_01]: last year we saw an opportunity

[00:20:31] [SPEAKER_01]: because of the way we think about

[00:20:33] [SPEAKER_01]: the Employment Hero Employee app which is called

[00:20:36] [SPEAKER_01]: SWAG something that's very important

[00:20:38] [SPEAKER_01]: to understand is

[00:20:40] [SPEAKER_01]: an individual who's a job seeker

[00:20:42] [SPEAKER_01]: can download SWAG

[00:20:44] [SPEAKER_01]: themselves they do not need to be

[00:20:45] [SPEAKER_01]: attached to an Employment Hero client of ours

[00:20:48] [SPEAKER_01]: and they can download it

[00:20:50] [SPEAKER_01]: with the intention of being a job seeker

[00:20:52] [SPEAKER_01]: and the reason

[00:20:54] [SPEAKER_01]: why we opened that app up to the public was

[00:20:56] [SPEAKER_01]: we can see

[00:20:57] [SPEAKER_01]: the consolidated

[00:21:00] [SPEAKER_01]: job postings from

[00:21:01] [SPEAKER_01]: our clients when they put

[00:21:03] [SPEAKER_01]: them into their own ATS so we have

[00:21:06] [SPEAKER_01]: an ATS and

[00:21:06] [SPEAKER_01]: you know they might advertise

[00:21:10] [SPEAKER_01]: 10 jobs this quarter

[00:21:11] [SPEAKER_01]: but they can only afford to pay

[00:21:13] [SPEAKER_01]: to post one on the big job

[00:21:15] [SPEAKER_01]: boards that are out there so that means

[00:21:17] [SPEAKER_01]: that there's nine jobs actually sitting

[00:21:19] [SPEAKER_01]: on their careers page or sitting under

[00:21:21] [SPEAKER_01]: ATS waiting for talent to find

[00:21:23] [SPEAKER_01]: and the reality is like in this day

[00:21:26] [SPEAKER_01]: and age just too much going on

[00:21:27] [SPEAKER_01]: in people's lives and intimate

[00:21:29] [SPEAKER_01]: time like to actually find

[00:21:31] [SPEAKER_01]: a role that's not on a job

[00:21:33] [SPEAKER_01]: sport

[00:21:33] [SPEAKER_01]: so we call it the

[00:21:37] [SPEAKER_01]: 80% of roles that are not

[00:21:39] [SPEAKER_01]: advertised publicly because

[00:21:41] [SPEAKER_01]: it's very hard to get traffic

[00:21:43] [SPEAKER_01]: to your careers page if you're an SME

[00:21:45] [SPEAKER_01]: in fact it's practically impossible

[00:21:48] [SPEAKER_01]: so

[00:21:49] [SPEAKER_01]: we've been

[00:21:51] [SPEAKER_01]: attracting talent

[00:21:53] [SPEAKER_01]: by downloading the SWAG app

[00:21:55] [SPEAKER_01]: and the SWAG app is

[00:21:57] [SPEAKER_01]: I would say this is very unique

[00:21:59] [SPEAKER_01]: it functions like a

[00:22:01] [SPEAKER_01]: wallet as well it's got a

[00:22:02] [SPEAKER_01]: Visa card capability

[00:22:04] [SPEAKER_01]: and people will download

[00:22:07] [SPEAKER_01]: and start to actually upload

[00:22:09] [SPEAKER_01]: the profile but a critical thing

[00:22:10] [SPEAKER_01]: in the

[00:22:13] [SPEAKER_01]: structure of the app is they have

[00:22:15] [SPEAKER_01]: to do KYC when they sign up

[00:22:17] [SPEAKER_01]: so we're verifying

[00:22:19] [SPEAKER_01]: who these people are

[00:22:20] [SPEAKER_01]: and that's important later

[00:22:23] [SPEAKER_01]: on in the process because of one of our

[00:22:25] [SPEAKER_01]: clients hires this individual

[00:22:27] [SPEAKER_01]: we've done

[00:22:28] [SPEAKER_01]: some level of KYC we haven't

[00:22:31] [SPEAKER_01]: done reference checks or background

[00:22:33] [SPEAKER_01]: checks but we can onboard them onto their

[00:22:35] [SPEAKER_01]: payroll system if they hired them

[00:22:36] [SPEAKER_01]: within 20 seconds because we've collected

[00:22:38] [SPEAKER_01]: all of their information

[00:22:41] [SPEAKER_01]: and

[00:22:42] [SPEAKER_01]: we've spent a bit of time on the AI side

[00:22:45] [SPEAKER_01]: of this like actually linking

[00:22:48] [SPEAKER_01]: employers

[00:22:48] [SPEAKER_01]: candidates and the experience would go like

[00:22:51] [SPEAKER_01]: this say typical SME

[00:22:53] [SPEAKER_01]: maybe it's

[00:22:54] [SPEAKER_01]: a cafe or a gym and

[00:22:57] [SPEAKER_01]: they have like 30 people

[00:22:58] [SPEAKER_01]: and they need a barista pretty quickly

[00:23:01] [SPEAKER_01]: as soon as they go into

[00:23:03] [SPEAKER_01]: the ATS and start typing

[00:23:04] [SPEAKER_01]: the title and the description of the role

[00:23:07] [SPEAKER_01]: we're reading that

[00:23:08] [SPEAKER_01]: and we're suggesting you know

[00:23:11] [SPEAKER_01]: templates as well

[00:23:12] [SPEAKER_01]: but when they start to type it out in their

[00:23:14] [SPEAKER_01]: own words we're

[00:23:16] [SPEAKER_01]: delving into our candidate database

[00:23:19] [SPEAKER_01]: and pulling

[00:23:20] [SPEAKER_01]: candidates from the database

[00:23:23] [SPEAKER_01]: into their ATS

[00:23:25] [SPEAKER_01]: so the visual experience would be

[00:23:28] [SPEAKER_01]: that

[00:23:28] [SPEAKER_01]: as soon as they've written the job description

[00:23:30] [SPEAKER_01]: a panel appears on the right hand side

[00:23:33] [SPEAKER_01]: which suggests that candidates

[00:23:34] [SPEAKER_01]: in the area that you've said would be

[00:23:36] [SPEAKER_01]: ideal so it could be within 5

[00:23:38] [SPEAKER_01]: kilometres, within 500

[00:23:40] [SPEAKER_01]: and then the

[00:23:42] [SPEAKER_01]: employer can directly

[00:23:44] [SPEAKER_01]: connect with that candidate and start

[00:23:46] [SPEAKER_01]: speaking to them about the opportunity

[00:23:47] [SPEAKER_01]: and organise a phone call or an

[00:23:50] [SPEAKER_01]: interview and dependent on the role

[00:23:52] [SPEAKER_01]: whether it's blue collar, white collar, junior, senior

[00:23:54] [SPEAKER_01]: the structure is going to be different

[00:23:55] [SPEAKER_01]: but the key thing is

[00:23:57] [SPEAKER_01]: we're given an opportunity

[00:23:59] [SPEAKER_01]: to look at talents for their business

[00:24:01] [SPEAKER_01]: before they've actually

[00:24:03] [SPEAKER_01]: decided to finish posting

[00:24:05] [SPEAKER_01]: the role or brought it to a jobs

[00:24:08] [SPEAKER_01]: board and paid you know

[00:24:09] [SPEAKER_01]: £1,500 or £2,000

[00:24:11] [SPEAKER_01]: or whatever it is. 5 months ago we started

[00:24:13] [SPEAKER_01]: it took us 4 months to place

[00:24:15] [SPEAKER_01]: 100 candidates

[00:24:17] [SPEAKER_01]: and in 1-5 we placed another

[00:24:19] [SPEAKER_01]: 100 so we've already started

[00:24:21] [SPEAKER_01]: to double the number of placements so we're bringing

[00:24:23] [SPEAKER_01]: talents directly to our

[00:24:25] [SPEAKER_01]: clients. It's a big thing

[00:24:28] [SPEAKER_01]: like I think

[00:24:30] [SPEAKER_01]: I mentioned to you guys

[00:24:31] [SPEAKER_01]: at the start that I used to be an accountant

[00:24:33] [SPEAKER_01]: I took a break in between

[00:24:35] [SPEAKER_01]: practice and moving into

[00:24:37] [SPEAKER_01]: zero and I spent 3

[00:24:39] [SPEAKER_01]: and a half years recruiting accountants

[00:24:41] [SPEAKER_01]: into accounting firms and financial services

[00:24:43] [SPEAKER_01]: businesses so I've never

[00:24:45] [SPEAKER_01]: stepped away from the accounting industry

[00:24:48] [SPEAKER_01]: as such like the

[00:24:49] [SPEAKER_01]: expense of recruitment, the time

[00:24:51] [SPEAKER_01]: that it takes is just insane

[00:24:53] [SPEAKER_01]: and for a typical SME who's trying

[00:24:55] [SPEAKER_01]: to get business on and everything is

[00:24:57] [SPEAKER_01]: go go go each day, we saw that

[00:24:59] [SPEAKER_01]: as a major benefit like to bring

[00:25:01] [SPEAKER_01]: talent into the smart matches

[00:25:03] [SPEAKER_01]: but like us placing

[00:25:05] [SPEAKER_01]: 100 a month like we

[00:25:07] [SPEAKER_01]: want to get to 10,000 a month

[00:25:09] [SPEAKER_01]: yeah so that's where we're headed with the system

[00:25:11] [SPEAKER_00]: I'm going to assume that downloads of the

[00:25:13] [SPEAKER_00]: app for non-employment

[00:25:15] [SPEAKER_00]: hero users probably aren't

[00:25:17] [SPEAKER_00]: that big at the moment and that's probably something

[00:25:19] [SPEAKER_00]: you need to focus in on them and what

[00:25:21] [SPEAKER_00]: are you going to do to kind of encourage

[00:25:23] [SPEAKER_00]: people to sign up

[00:25:25] [SPEAKER_01]: yeah and we like we haven't gone

[00:25:27] [SPEAKER_01]: really hard in the UK it's been

[00:25:29] [SPEAKER_01]: Australia where we wanted to get the mechanics

[00:25:31] [SPEAKER_01]: of the product and the experience right but

[00:25:33] [SPEAKER_01]: like we have not really

[00:25:35] [SPEAKER_01]: advertised that much

[00:25:37] [SPEAKER_01]: directly to job seekers in the UK

[00:25:39] [SPEAKER_01]: but something that's coming up

[00:25:41] [SPEAKER_01]: soon actually and it

[00:25:42] [SPEAKER_01]: might have happened by the time this podcast

[00:25:45] [SPEAKER_01]: goes out we are

[00:25:47] [SPEAKER_01]: very focused on Manchester

[00:25:49] [SPEAKER_01]: at the moment and

[00:25:50] [SPEAKER_01]: people are starting to come in

[00:25:52] [SPEAKER_01]: out of uni, different type

[00:25:55] [SPEAKER_01]: of season for hiring

[00:25:57] [SPEAKER_01]: so we will start to actually

[00:25:58] [SPEAKER_01]: focus like the cities as well

[00:26:01] [SPEAKER_01]: in terms of candidates sign up

[00:26:03] [SPEAKER_01]: when we're speaking to

[00:26:06] [SPEAKER_01]: universities

[00:26:07] [SPEAKER_01]: for people coming out looking

[00:26:09] [SPEAKER_01]: for their first job

[00:26:10] [SPEAKER_01]: we've signed a partnership with Enterprise Nation

[00:26:12] [SPEAKER_01]: who support quarter of a million SMEs

[00:26:15] [SPEAKER_01]: in the UK around bringing

[00:26:16] [SPEAKER_01]: swag and talent and then the employee

[00:26:19] [SPEAKER_01]: material platform to their members

[00:26:21] [SPEAKER_01]: so yeah I would say we're just

[00:26:23] [SPEAKER_01]: getting started John is the fair way to

[00:26:24] [SPEAKER_01]: say it and like for

[00:26:26] [SPEAKER_01]: me having worked in recruitment

[00:26:31] [SPEAKER_01]: the pressure that's

[00:26:33] [SPEAKER_01]: on people right like when there's a gap

[00:26:35] [SPEAKER_01]: in their team like especially a smaller

[00:26:37] [SPEAKER_01]: SME like we want to be able to back

[00:26:38] [SPEAKER_01]: ourselves to fill those roles you know

[00:26:40] [SPEAKER_01]: so it's effectively what we're trying to do

[00:26:42] [SPEAKER_01]: is build a two-sided marketplace

[00:26:45] [SPEAKER_01]: we have

[00:26:47] [SPEAKER_01]: a good volume of

[00:26:49] [SPEAKER_01]: SMEs in the UK it's now

[00:26:50] [SPEAKER_01]: over 25,000 SMEs

[00:26:53] [SPEAKER_01]: in the UK use employee material

[00:26:55] [SPEAKER_01]: it's now actually starting to ensure

[00:26:57] [SPEAKER_01]: that keeps going but then bring on

[00:26:59] [SPEAKER_01]: the candidates directly who are job

[00:27:01] [SPEAKER_01]: seekers and that is a competitive

[00:27:02] [SPEAKER_01]: space like we're taking on the recruitment

[00:27:05] [SPEAKER_01]: industry and jobs boards and

[00:27:07] [SPEAKER_01]: we're very well aware of that

[00:27:09] [SPEAKER_00]: what you've built there

[00:27:11] [SPEAKER_00]: sounds really interesting

[00:27:12] [SPEAKER_00]: I'd be really great to see

[00:27:14] [SPEAKER_00]: if you do hit that 10,000 a month

[00:27:16] [SPEAKER_00]: metric I mean that would be

[00:27:18] [SPEAKER_00]: something else I think it would be really

[00:27:20] [SPEAKER_00]: incredible. Yeah

[00:27:22] [SPEAKER_01]: it's got to be

[00:27:24] [SPEAKER_01]: differentiators and we've got to challenge

[00:27:26] [SPEAKER_01]: ourselves to come up with new

[00:27:28] [SPEAKER_01]: and I guess impactful

[00:27:30] [SPEAKER_01]: areas in the technology

[00:27:32] [SPEAKER_01]: and also look for correlation of

[00:27:34] [SPEAKER_01]: opportunities like you know we see

[00:27:36] [SPEAKER_01]: all the jobs advertised on the ATS

[00:27:38] [SPEAKER_01]: we ask ourselves well what are we doing

[00:27:40] [SPEAKER_01]: about it and do we have a right to help

[00:27:42] [SPEAKER_01]: there and this is just one of those

[00:27:44] [SPEAKER_01]: examples. Super

[00:27:46] [SPEAKER_00]: well thanks very much for that Kevin it's great

[00:27:48] [SPEAKER_00]: to hear about that and

[00:27:50] [SPEAKER_00]: I look forward to the next innovation

[00:27:52] [SPEAKER_00]: coming out of Employment Hero. Thanks

[00:27:54] [SPEAKER_08]: I just think the idea

[00:27:58] [SPEAKER_08]: of John being

[00:28:00] [SPEAKER_08]: in a field is so

[00:28:02] [SPEAKER_08]: isn't it just so in keeping

[00:28:04] [SPEAKER_08]: with his normal vibe?

[00:28:06] [SPEAKER_09]: I assume that part of normal

[00:28:08] [SPEAKER_09]: school education for John was

[00:28:10] [SPEAKER_09]: you know how to live out

[00:28:12] [SPEAKER_09]: in the wild. Yeah

[00:28:14] [SPEAKER_07]: like I just imagine him going

[00:28:16] [SPEAKER_07]: yeah it's alright we should have

[00:28:18] [SPEAKER_07]: a holiday over here in this field.

[00:28:21] [SPEAKER_09]: He puts

[00:28:22] [SPEAKER_09]: a stick in the ground this is our

[00:28:24] [SPEAKER_09]: area.

[00:28:26] [SPEAKER_05]: But daddy is talking across the road.

[00:28:29] [SPEAKER_09]: Exactly it's just a busy

[00:28:32] [SPEAKER_09]: it's like a motorway and he's just

[00:28:34] [SPEAKER_09]: parked on the side this is it

[00:28:36] [SPEAKER_09]: this is where I'm parking for the night.

[00:28:37] [SPEAKER_05]: Do you want to like a nice holiday mate

[00:28:40] [SPEAKER_05]: I love it I think that sounds great

[00:28:41] [SPEAKER_05]: and then he's walking around

[00:28:44] [SPEAKER_05]: in his sort of like free accounting

[00:28:45] [SPEAKER_05]: tech clothes as well.

[00:28:48] [SPEAKER_09]: Yeah that's true do you think

[00:28:50] [SPEAKER_09]: he took a tent or they

[00:28:52] [SPEAKER_09]: had to make it when they got there

[00:28:53] [SPEAKER_09]: with what was around?

[00:28:55] [SPEAKER_08]: I reckon he got a vendor to pay for it.

[00:29:00] [SPEAKER_09]: It's a dext brand intent.

[00:29:02] [SPEAKER_08]: He does.

[00:29:02] [SPEAKER_03]: He's been fine.

[00:29:05] [SPEAKER_09]: I'm trying to figure out anything

[00:29:06] [SPEAKER_09]: any app that could get out of

[00:29:08] [SPEAKER_09]: some promotional material about

[00:29:10] [SPEAKER_09]: erecting a tent. Who would picture

[00:29:12] [SPEAKER_08]: a tent out of the accounting techs out there?

[00:29:14] [SPEAKER_09]: Well if there isn't and there hasn't been one

[00:29:16] [SPEAKER_09]: then that's something to do our

[00:29:18] [SPEAKER_09]: accountics north isn't it? Look you've got

[00:29:20] [SPEAKER_09]: what three weeks or something less than that

[00:29:22] [SPEAKER_09]: come on app vendors we want to

[00:29:24] [SPEAKER_09]: see lots of tents being given away at

[00:29:26] [SPEAKER_08]: accountics north. Yeah we need to have one

[00:29:28] [SPEAKER_08]: for our next year's awards event

[00:29:30] [SPEAKER_08]: it's going to be a festival in a field.

[00:29:33] [SPEAKER_09]: Maybe not up north though

[00:29:34] [SPEAKER_09]: there's more chance it's going to rain.

[00:29:36] [SPEAKER_08]: We're only going to go in the field across John's house

[00:29:38] [SPEAKER_08]: like across the way from John's house anyway

[00:29:41] [SPEAKER_08]: so.

[00:29:42] [SPEAKER_09]: I still like the fact that

[00:29:44] [SPEAKER_09]: we've assumed John lives in the middle

[00:29:46] [SPEAKER_09]: of nowhere surrounded by fields.

[00:29:49] [SPEAKER_08]: I think that's you're pretty

[00:29:50] [SPEAKER_08]: accurate. I unfortunately

[00:29:53] [SPEAKER_08]: could not live like that

[00:29:54] [SPEAKER_08]: or have all my day like that. So far

[00:29:57] [SPEAKER_08]: what I've done

[00:29:58] [SPEAKER_08]: on this holiday

[00:29:59] [SPEAKER_08]: two different trips

[00:30:01] [SPEAKER_08]: and then one next week

[00:30:04] [SPEAKER_08]: gosh my

[00:30:06] [SPEAKER_08]: gosh it's a hard life

[00:30:08] [SPEAKER_08]: Ryan. It's a hard life. Yeah well you've been

[00:30:10] [SPEAKER_09]: chauffeured everywhere. I was

[00:30:12] [SPEAKER_08]: being chauffeured everywhere. I actually had

[00:30:14] [SPEAKER_08]: like a talk to a driver

[00:30:15] [SPEAKER_08]: who I called granddad just because

[00:30:17] [SPEAKER_08]: he was crazy. Like he

[00:30:20] [SPEAKER_08]: literally stopped in the middle of streets

[00:30:22] [SPEAKER_08]: in the middle of the busiest

[00:30:24] [SPEAKER_08]: parts of the Amalfi coast

[00:30:25] [SPEAKER_08]: and he was like

[00:30:27] [SPEAKER_08]: barely spoke a word of English

[00:30:29] [SPEAKER_08]: and was like here is the

[00:30:31] [SPEAKER_08]: room and he was just like

[00:30:33] [SPEAKER_08]: uttered a few words

[00:30:34] [SPEAKER_08]: and all you see left and right

[00:30:37] [SPEAKER_08]: of you is the traffic backing up

[00:30:39] [SPEAKER_08]: and people

[00:30:41] [SPEAKER_08]: looking at you and cursing

[00:30:43] [SPEAKER_08]: like why are you in the middle

[00:30:45] [SPEAKER_08]: of the road and he

[00:30:47] [SPEAKER_08]: was quite content

[00:30:49] [SPEAKER_08]: taking his phone

[00:30:50] [SPEAKER_08]: and walking into the middle of the road

[00:30:53] [SPEAKER_08]: and saying yeah picture

[00:30:57] [SPEAKER_06]: a picture

[00:30:59] [SPEAKER_06]: it was just so funny

[00:31:01] [SPEAKER_06]: I was like granddad

[00:31:03] [SPEAKER_06]: can we get back in the talk to

[00:31:05] [SPEAKER_06]: please. I think

[00:31:06] [SPEAKER_09]: what's more interesting for me is that

[00:31:09] [SPEAKER_09]: the way you describe this man

[00:31:11] [SPEAKER_09]: is not how I picture a granddad. I am

[00:31:13] [SPEAKER_09]: now intrigued about what your granddad was

[00:31:15] [SPEAKER_09]: like that's what you associate

[00:31:17] [SPEAKER_09]: with this man. I think

[00:31:19] [SPEAKER_08]: it's because he reminded me of my dad

[00:31:21] [SPEAKER_08]: and he was so sweet

[00:31:23] [SPEAKER_08]: towards my daughter

[00:31:24] [SPEAKER_08]: he was so sweet he put her in the

[00:31:27] [SPEAKER_08]: front of the talk tock

[00:31:28] [SPEAKER_08]: and was like you're driving

[00:31:30] [SPEAKER_06]: it was just like oh my god

[00:31:32] [SPEAKER_06]: this is terrifying this is just

[00:31:34] [SPEAKER_06]: like my dad would be

[00:31:35] [SPEAKER_06]: going

[00:31:38] and then

[00:31:39] [SPEAKER_08]: we had at least a driver

[00:31:42] [SPEAKER_08]: one day and that was just

[00:31:44] [SPEAKER_08]: a nice car. Then the driver

[00:31:46] [SPEAKER_08]: of the boat that was a nice day

[00:31:48] [SPEAKER_08]: as well on the boat then the driver

[00:31:50] [SPEAKER_08]: of the talk tock

[00:31:51] [SPEAKER_08]: and then of course the ferry

[00:31:55] [SPEAKER_09]: so that's not so nice

[00:31:56] [SPEAKER_08]: God that walks

[00:31:58] [SPEAKER_08]: up we did it was capri

[00:32:00] [SPEAKER_08]: one hour

[00:32:01] [SPEAKER_08]: and you know my daughter she said

[00:32:04] [SPEAKER_08]: Mummy this is like one of those

[00:32:06] [SPEAKER_08]: dreams that you have a dream

[00:32:08] [SPEAKER_08]: and you don't ever want to have the dream

[00:32:10] [SPEAKER_08]: again. That's

[00:32:14] [SPEAKER_09]: so sweet

[00:32:16] [SPEAKER_09]: so

[00:32:16] [SPEAKER_09]: you're in the Amalfi coach did you at least

[00:32:19] [SPEAKER_09]: have some limoncello when you were there

[00:32:21] [SPEAKER_08]: limoncello and my favourite

[00:32:23] [SPEAKER_08]: is licarice

[00:32:25] [SPEAKER_09]: what's that

[00:32:26] [SPEAKER_08]: oh it's licorice

[00:32:28] [SPEAKER_08]: licorice a version

[00:32:30] [SPEAKER_08]: of limoncello

[00:32:31] [SPEAKER_08]: where it's like licorice melted down

[00:32:34] [SPEAKER_08]: in the alcohol

[00:32:36] [SPEAKER_08]: and the sugar

[00:32:38] [SPEAKER_08]: and water. Oh my god

[00:32:40] [SPEAKER_08]: it's so much nicer

[00:32:42] [SPEAKER_08]: than like a Bailey's

[00:32:44] [SPEAKER_08]: no dairy

[00:32:45] [SPEAKER_08]: and clearly I've not had Bailey's in years

[00:32:48] [SPEAKER_08]: because of the dairy

[00:32:50] [SPEAKER_08]: but licorice

[00:32:51] [SPEAKER_08]: blah

[00:32:54] [SPEAKER_09]: see I hate the flavour

[00:32:56] [SPEAKER_09]: of licorice so

[00:32:58] [SPEAKER_09]: I don't think I'd like that

[00:33:00] [SPEAKER_09]: did you have lemon cream? That was nice

[00:33:02] [SPEAKER_08]: no I can only have it

[00:33:04] [SPEAKER_08]: if it was just a bit of a trick

[00:33:06] [SPEAKER_09]: just the dairy

[00:33:07] [SPEAKER_08]: and like oh is it weird

[00:33:10] [SPEAKER_08]: is it without why anyway

[00:33:12] [SPEAKER_08]: I spent far

[00:33:13] [SPEAKER_08]: far too much money

[00:33:16] [SPEAKER_08]: that was the one thing I thought

[00:33:18] [SPEAKER_08]: was just ridiculous

[00:33:19] [SPEAKER_08]: it was so

[00:33:21] [SPEAKER_08]: expensive out there

[00:33:23] [SPEAKER_08]: my god how people

[00:33:26] [SPEAKER_08]: you know it got to the point where

[00:33:28] [SPEAKER_08]: I was working out grandad's

[00:33:30] [SPEAKER_08]: like you know the top top driver

[00:33:31] [SPEAKER_08]: what he must earn

[00:33:34] [SPEAKER_08]: in the six months that he

[00:33:36] [SPEAKER_08]: must work like maybe seven months a year

[00:33:38] [SPEAKER_08]: I'm so sure

[00:33:40] [SPEAKER_08]: this man must earn like at least

[00:33:41] [SPEAKER_08]: 160 grand

[00:33:44] [SPEAKER_03]: really

[00:33:46] [SPEAKER_08]: the amount that he

[00:33:48] [SPEAKER_08]: the amount of work you do

[00:33:49] [SPEAKER_08]: the number of hours you're doing a day

[00:33:51] [SPEAKER_08]: I just think that if I was 21

[00:33:54] [SPEAKER_08]: what I would do

[00:33:56] [SPEAKER_08]: and learn Italian

[00:33:58] [SPEAKER_08]: move to Italy on a visa

[00:34:00] [SPEAKER_08]: for us in time

[00:34:01] [SPEAKER_08]: learn everything there is to learn about the Amalfi coast

[00:34:04] [SPEAKER_08]: and just take people on

[00:34:06] [SPEAKER_08]: top top tours the whole

[00:34:08] [SPEAKER_08]: time I'm there

[00:34:09] [SPEAKER_08]: getting a good deal with a few other hotels

[00:34:12] [SPEAKER_08]: make my keep

[00:34:13] [SPEAKER_08]: come back here

[00:34:15] [SPEAKER_08]: use that money by your first house

[00:34:17] [SPEAKER_08]: my god please control

[00:34:19] [SPEAKER_08]: me how it goes

[00:34:21] [SPEAKER_09]: no need to go to Dubai

[00:34:24] [SPEAKER_09]: to make the money now

[00:34:25] [SPEAKER_09]: it's to be a top top driver

[00:34:26] [SPEAKER_09]: in the Amalfi coast

[00:34:29] [SPEAKER_09]: that's where you need to be

[00:34:36] [SPEAKER_09]: well we're very lucky today

[00:34:38] [SPEAKER_09]: to be joined by Lisa Marcelle

[00:34:39] [SPEAKER_09]: the CEO of Silverfin

[00:34:41] [SPEAKER_09]: and Kim Clark the executive

[00:34:42] [SPEAKER_09]: of practice at MYB

[00:34:44] [SPEAKER_09]: to discuss their recent announcement regarding the strategic

[00:34:48] [SPEAKER_09]: partnership that entered into

[00:34:49] [SPEAKER_09]: so Lisa I'm going to hand over

[00:34:52] [SPEAKER_09]: to you please can you explain what the strategic

[00:34:54] [SPEAKER_09]: partnership is

[00:34:54] [SPEAKER_02]: sure thing Ryan

[00:34:56] [SPEAKER_02]: strategic partnership sounds really flash

[00:34:59] [SPEAKER_02]: and it's kind of a big deal for us

[00:35:01] [SPEAKER_02]: with MYB

[00:35:03] [SPEAKER_02]: we get to get Silverfin

[00:35:05] [SPEAKER_02]: into the hands of a bunch of Australian

[00:35:08] [SPEAKER_02]: accountants now we could go there ourselves

[00:35:09] [SPEAKER_02]: and some of your viewers

[00:35:11] [SPEAKER_02]: know that Silverfin's a product

[00:35:13] [SPEAKER_02]: and a platform right and we're already around

[00:35:15] [SPEAKER_02]: the world

[00:35:17] [SPEAKER_02]: Australia makes it the 15th country

[00:35:19] [SPEAKER_02]: that we're present in so we're not just

[00:35:21] [SPEAKER_02]: a Belgium UK thing

[00:35:23] [SPEAKER_02]: we're a global platform but

[00:35:25] [SPEAKER_02]: you know if we can work with somebody

[00:35:27] [SPEAKER_02]: that's got brand presence

[00:35:28] [SPEAKER_02]: and really strong market awareness

[00:35:31] [SPEAKER_02]: and doesn't have a super good client

[00:35:33] [SPEAKER_02]: accounting solution

[00:35:34] [SPEAKER_02]: in a really great market like Australia

[00:35:37] [SPEAKER_02]: then why would you not

[00:35:39] [SPEAKER_02]: that's kind of I suppose what I want to say

[00:35:41] [SPEAKER_02]: and so that's what this partnership is about

[00:35:43] [SPEAKER_02]: it's about Silverfin

[00:35:45] [SPEAKER_02]: joining forces with MYB

[00:35:47] [SPEAKER_02]: and really looking to disrupt

[00:35:49] [SPEAKER_02]: the way that Australian accountants

[00:35:52] [SPEAKER_02]: take on their post-accounting

[00:35:53] [SPEAKER_02]: work

[00:35:54] [SPEAKER_09]: so the power of the combined effort

[00:35:57] [SPEAKER_09]: and we've talked a lot about Silverfin

[00:35:59] [SPEAKER_09]: on the podcast I'm not going to dive into what

[00:36:01] [SPEAKER_09]: that platform is everyone that's listening should know

[00:36:03] [SPEAKER_09]: but for our younger

[00:36:05] [SPEAKER_09]: listeners that may have not experienced

[00:36:07] [SPEAKER_09]: MYB, Kim can you just explain

[00:36:09] [SPEAKER_09]: what MYB is over in the Australian market

[00:36:11] [SPEAKER_04]: Sure so

[00:36:13] [SPEAKER_04]: MYB provides business accounting solutions

[00:36:15] [SPEAKER_04]: for small, medium and prices

[00:36:17] [SPEAKER_04]: we have around 500,000 of those

[00:36:19] [SPEAKER_04]: plus we provide practice

[00:36:21] [SPEAKER_04]: solutions to practices we have a whole area

[00:36:23] [SPEAKER_04]: of the business focused on practices

[00:36:25] [SPEAKER_04]: and we have another part of the business

[00:36:27] [SPEAKER_04]: that's focused on the mid-market so these

[00:36:29] [SPEAKER_04]: are businesses that range from

[00:36:31] [SPEAKER_04]: let's just say 10 million turn over

[00:36:32] [SPEAKER_04]: and I'm talking Aussie dollars here

[00:36:34] [SPEAKER_04]: 10 million turn over all the way up until

[00:36:36] [SPEAKER_04]: half a bill

[00:36:38] [SPEAKER_04]: so it's a reasonably

[00:36:41] [SPEAKER_04]: large business all the way from small

[00:36:43] [SPEAKER_04]: to large and a specific area

[00:36:45] [SPEAKER_04]: of focus just on providing practice

[00:36:47] [SPEAKER_04]: solutions plus

[00:36:48] [SPEAKER_02]: kind of different between you and the

[00:36:50] [SPEAKER_02]: other crowd from down that way

[00:36:52] [SPEAKER_02]: so zero

[00:36:54] [SPEAKER_02]: global international focus

[00:36:56] [SPEAKER_02]: MYB, Australia

[00:36:58] [SPEAKER_02]: New Zealand and the islands focus only

[00:37:01] [SPEAKER_02]: so that's why some of our

[00:37:02] [SPEAKER_02]: younger viewers Ryan

[00:37:04] [SPEAKER_02]: may not have heard of MYB

[00:37:06] [SPEAKER_02]: because they don't

[00:37:08] [SPEAKER_02]: trade up this part of the world or heaven

[00:37:10] [SPEAKER_02]: for a very long time

[00:37:11] [SPEAKER_09]: Yeah yeah well I am

[00:37:14] [SPEAKER_09]: old enough to know of MYB

[00:37:16] [SPEAKER_09]: because I have used the software but I

[00:37:18] [SPEAKER_09]: appreciate that it's not in the UK anymore

[00:37:21] [SPEAKER_09]: but obviously

[00:37:23] [SPEAKER_09]: now the partnership is going to be

[00:37:24] [SPEAKER_09]: super charging the MYB

[00:37:26] [SPEAKER_09]: platform over in

[00:37:27] [SPEAKER_09]: Australia. Kim explain kind of what the

[00:37:30] [SPEAKER_09]: benefits are for MYB of working with

[00:37:32] [SPEAKER_09]: Sywa Kim. Well I mean

[00:37:34] [SPEAKER_04]: it really comes down to if you think about

[00:37:36] [SPEAKER_04]: what accountants

[00:37:38] [SPEAKER_04]: spend most of their time on and practices

[00:37:40] [SPEAKER_04]: like approximately 60 to 70%

[00:37:42] [SPEAKER_04]: of their revenues are derived

[00:37:44] [SPEAKER_04]: through compliance and so

[00:37:46] [SPEAKER_04]: being able to provide an incredibly

[00:37:48] [SPEAKER_04]: powerful compliance platform

[00:37:50] [SPEAKER_04]: that supports the work

[00:37:52] [SPEAKER_04]: that they do on client files

[00:37:54] [SPEAKER_04]: and one of the key things for me is

[00:37:56] [SPEAKER_04]: being able to work on client files

[00:37:58] [SPEAKER_04]: of any colour and this is a real

[00:38:00] [SPEAKER_04]: power of the Sywa Fin platform so they don't

[00:38:02] [SPEAKER_04]: care whether they're an MYB purple file

[00:38:04] [SPEAKER_04]: a blue file or a green file

[00:38:06] [SPEAKER_04]: making sure that practices

[00:38:08] [SPEAKER_04]: can have a consistent way of working

[00:38:10] [SPEAKER_04]: across their entire business irrespective

[00:38:13] [SPEAKER_04]: of the colour of the file

[00:38:14] [SPEAKER_04]: super important. That was one of the key

[00:38:16] [SPEAKER_04]: requirements that we had and one

[00:38:18] [SPEAKER_04]: of the key reasons why we chose Sywa

[00:38:20] [SPEAKER_04]: Fin as well as of course their

[00:38:22] [SPEAKER_04]: ongoing platform development and support

[00:38:24] [SPEAKER_04]: particularly around AI and how they're

[00:38:26] [SPEAKER_04]: actually supporting accountants

[00:38:28] [SPEAKER_04]: I mean you know the platform

[00:38:30] [SPEAKER_04]: but basically being able to provide

[00:38:32] [SPEAKER_04]: support for accountants being able

[00:38:34] [SPEAKER_04]: to work on client files and do their client

[00:38:36] [SPEAKER_04]: accounting work papers financial reporting.

[00:38:38] [SPEAKER_09]: Definitely and Sywa Fin over in

[00:38:40] [SPEAKER_09]: the UK and through Europe

[00:38:42] [SPEAKER_09]: working papers through to accounts

[00:38:44] [SPEAKER_09]: and tax is that

[00:38:46] [SPEAKER_09]: essentially what is going to be happening

[00:38:47] [SPEAKER_09]: over in Australia is it more of

[00:38:49] [SPEAKER_09]: a tech partnership you're doing rather than

[00:38:51] [SPEAKER_09]: a marketing related partnership?

[00:38:53] [SPEAKER_04]: Yeah it's a platform partnership

[00:38:55] [SPEAKER_04]: and so obviously we're

[00:38:57] [SPEAKER_04]: leveraging the best of a global platform

[00:38:59] [SPEAKER_04]: I mean you said it yourself Ryan

[00:39:01] [SPEAKER_04]: I mean it is a global leading platform

[00:39:03] [SPEAKER_04]: for providing compliance solutions

[00:39:06] [SPEAKER_04]: we've got our own

[00:39:07] [SPEAKER_04]: tax online solutions

[00:39:09] [SPEAKER_04]: a native tax solution and obviously

[00:39:11] [SPEAKER_04]: for us partnering with

[00:39:13] [SPEAKER_04]: Sywa Fin for the client accounting

[00:39:15] [SPEAKER_04]: work papers, financial reporting etc.

[00:39:18] [SPEAKER_04]: for me it just completes

[00:39:19] [SPEAKER_04]: the core of what

[00:39:21] [SPEAKER_04]: most accounting practices need to do

[00:39:23] [SPEAKER_04]: and need to do it incredibly efficiently

[00:39:25] [SPEAKER_04]: to be able to compete in today's world

[00:39:27] [SPEAKER_02]: and Ryan I mean I think

[00:39:29] [SPEAKER_02]: for us because Sywa Fin product

[00:39:31] [SPEAKER_02]: is both there like we bring

[00:39:33] [SPEAKER_02]: something already built with content

[00:39:35] [SPEAKER_02]: to markets like the UK

[00:39:37] [SPEAKER_02]: but because it's a platform

[00:39:39] [SPEAKER_02]: and it's designed as a platform

[00:39:41] [SPEAKER_02]: we know that the big firms around the world

[00:39:43] [SPEAKER_02]: they can build their own content so that

[00:39:44] [SPEAKER_02]: it's not like an integration

[00:39:46] [SPEAKER_02]: play where I mean I'm just going to use

[00:39:49] [SPEAKER_02]: an example of virus decided

[00:39:51] [SPEAKER_02]: to partner with Sywa Fin

[00:39:53] [SPEAKER_02]: you know or bought

[00:39:55] [SPEAKER_02]: another product they'd be looking at an

[00:39:57] [SPEAKER_02]: integration problem potentially

[00:39:59] [SPEAKER_02]: but Sywa Fin's a platform

[00:40:01] [SPEAKER_02]: so there isn't an integration

[00:40:03] [SPEAKER_02]: it's the way that we are

[00:40:05] [SPEAKER_02]: designed is that anyone

[00:40:06] [SPEAKER_02]: can pick up Sywa Fin

[00:40:08] [SPEAKER_02]: and can build content on that platform

[00:40:11] [SPEAKER_02]: and localize it that's the whole

[00:40:13] [SPEAKER_02]: point of Sywa Fin that's

[00:40:15] [SPEAKER_02]: why we can be globally relevant

[00:40:17] [SPEAKER_02]: is that if we choose to build the content

[00:40:18] [SPEAKER_02]: and bring it to market great you've got a product

[00:40:20] [SPEAKER_02]: off the shelf away you go but if

[00:40:23] [SPEAKER_02]: we choose not to take it to market ourselves

[00:40:25] [SPEAKER_02]: somebody else can build that localized content

[00:40:28] [SPEAKER_02]: but take that standard

[00:40:29] [SPEAKER_02]: structured data and all those

[00:40:31] [SPEAKER_02]: kind of ways of working the same way

[00:40:33] [SPEAKER_02]: we build it so they know they're fully supported

[00:40:35] [SPEAKER_02]: it's not a kind of product that's going

[00:40:37] [SPEAKER_02]: to get isolated and

[00:40:38] [SPEAKER_02]: and they're going to get

[00:40:40] [SPEAKER_02]: you know lonely over there because they've got a variation

[00:40:42] [SPEAKER_02]: of the product it's one product

[00:40:44] [SPEAKER_02]: it's just got that ability to be used

[00:40:46] [SPEAKER_02]: as a platform and white label

[00:40:48] [SPEAKER_02]: as a platform and

[00:40:50] [SPEAKER_02]: localized and we think this is

[00:40:52] [SPEAKER_02]: just a really good way

[00:40:54] [SPEAKER_02]: instead of building it yourself

[00:40:56] [SPEAKER_02]: and I know MIB could build some great software

[00:40:58] [SPEAKER_02]: themselves but we all know big accounting

[00:41:00] [SPEAKER_02]: software firms these days

[00:41:02] [SPEAKER_02]: or anyone actually in SAS do you

[00:41:04] [SPEAKER_02]: build it or do you partner

[00:41:06] [SPEAKER_02]: or buy it and and it's got to be

[00:41:08] [SPEAKER_02]: something people are considering what why

[00:41:10] [SPEAKER_02]: build it yourself if there's something else

[00:41:12] [SPEAKER_02]: you can you can bring in

[00:41:14] [SPEAKER_09]: yeah definitely we've seen

[00:41:16] [SPEAKER_09]: some of the more traditional systems such as

[00:41:18] [SPEAKER_09]: MIB in the UK

[00:41:20] [SPEAKER_09]: promising cloud based

[00:41:22] [SPEAKER_09]: advanced systems for 10

[00:41:24] [SPEAKER_09]: 15 years now and we're still waiting

[00:41:26] [SPEAKER_09]: for them so this is a quicker

[00:41:28] [SPEAKER_09]: way to get to the same goal

[00:41:30] [SPEAKER_09]: isn't it I assume there's going to be obviously a time

[00:41:32] [SPEAKER_09]: delay on any of this to bring to market

[00:41:34] [SPEAKER_09]: but I'm pretty sure I saw that you've got

[00:41:36] [SPEAKER_09]: 10 year partnership is that right

[00:41:39] [SPEAKER_02]: yeah it's a decade long

[00:41:40] [SPEAKER_02]: partnership yeah we're in for a long

[00:41:42] [SPEAKER_02]: time not a quick to know how does that

[00:41:44] [SPEAKER_02]: work here for a good time and a long time

[00:41:47] [SPEAKER_02]: good time and a lot

[00:41:49] [SPEAKER_02]: we have a long time

[00:41:51] [SPEAKER_02]: time not all it's everything

[00:41:53] [SPEAKER_04]: it's everything but it is

[00:41:54] [SPEAKER_04]: but it is a partnership it's it you know

[00:41:56] [SPEAKER_04]: these types of partnerships you wouldn't

[00:41:58] [SPEAKER_04]: be striking them up for a couple of years

[00:42:00] [SPEAKER_04]: for me you know anything that you'd be

[00:42:02] [SPEAKER_04]: you know a partnership like this

[00:42:03] [SPEAKER_04]: if you're thinking for

[00:42:05] [SPEAKER_04]: I need to do something like this for a couple

[00:42:08] [SPEAKER_04]: of years you're really not

[00:42:09] [SPEAKER_04]: strategically investing in one another

[00:42:12] [SPEAKER_04]: and what you're trying to build

[00:42:13] [SPEAKER_04]: for practices and that's

[00:42:16] [SPEAKER_04]: something that Lisa and I we spoke about

[00:42:18] [SPEAKER_04]: from the very first

[00:42:19] [SPEAKER_04]: conversation yeah absolutely

[00:42:21] [SPEAKER_02]: right and for us it's like we don't want

[00:42:24] [SPEAKER_02]: someone that's going to the first sign

[00:42:25] [SPEAKER_02]: of something not going right

[00:42:28] [SPEAKER_02]: sort of throw the toys out of

[00:42:30] [SPEAKER_02]: the cot and say this isn't

[00:42:32] [SPEAKER_02]: giving us the short-term return we were

[00:42:33] [SPEAKER_02]: after so we've set our targets

[00:42:36] [SPEAKER_02]: we've set our goals of what does great

[00:42:37] [SPEAKER_02]: look like to be much longer than

[00:42:39] [SPEAKER_02]: just the next 12 months and to be

[00:42:42] [SPEAKER_02]: fair in this past 12 months there's a

[00:42:43] [SPEAKER_02]: lot of learning there's a lot of

[00:42:45] [SPEAKER_02]: you know sharing understanding between

[00:42:47] [SPEAKER_02]: teams Kim's been up here this week

[00:42:50] [SPEAKER_02]: talking with custom talking with

[00:42:51] [SPEAKER_02]: Silverfinn customers

[00:42:53] [SPEAKER_02]: all kinds of sort of awareness

[00:42:55] [SPEAKER_02]: building stuff and we think that's

[00:42:58] [SPEAKER_02]: how the partnerships going to work

[00:43:00] [SPEAKER_02]: and I know there's people out there that go

[00:43:02] [SPEAKER_02]: oh you know when one firm partners with

[00:43:04] [SPEAKER_02]: a kind of a smaller piece of software

[00:43:06] [SPEAKER_02]: like us or the smaller pieces

[00:43:08] [SPEAKER_02]: of where just gets neglected

[00:43:10] [SPEAKER_02]: or it dies already but Silverfinn

[00:43:12] [SPEAKER_02]: is really good at what we do and we

[00:43:14] [SPEAKER_02]: are small and we are nimble and we are

[00:43:16] [SPEAKER_02]: agile and we're going to stay being that way

[00:43:18] [SPEAKER_02]: so we want to treat this partnership

[00:43:20] [SPEAKER_02]: with some respect and give it

[00:43:22] [SPEAKER_02]: the attention and the time

[00:43:24] [SPEAKER_02]: and in return we're also being realistic

[00:43:26] [SPEAKER_02]: about these kind of things take time

[00:43:28] [SPEAKER_02]: to do well let's not

[00:43:30] [SPEAKER_02]: rush into it and

[00:43:32] [SPEAKER_02]: try and do some hasty

[00:43:34] [SPEAKER_02]: kind of go-to-market activity

[00:43:36] [SPEAKER_02]: that doesn't really have the kind of leagues

[00:43:38] [SPEAKER_02]: that the market sees off you're bringing

[00:43:39] [SPEAKER_02]: something of substance to us like

[00:43:42] [SPEAKER_02]: it's the Silverfinn way like we're pretty

[00:43:44] [SPEAKER_02]: understated on the go-to-market

[00:43:46] [SPEAKER_02]: we like to be known as having the best

[00:43:48] [SPEAKER_02]: product so we're taking that into the

[00:43:50] [SPEAKER_02]: relationship with MIB as well

[00:43:52] [SPEAKER_09]: Yeah that all makes sense and

[00:43:54] [SPEAKER_09]: I think there's a lot of frustration in the marketplace

[00:43:56] [SPEAKER_09]: on those partnerships

[00:43:58] [SPEAKER_09]: that announced and then they kind of fizzle

[00:44:00] [SPEAKER_09]: out quickly if you're saying it's 10

[00:44:02] [SPEAKER_09]: years you're in this

[00:44:04] [SPEAKER_09]: I'm sure 10 years wasn't

[00:44:06] [SPEAKER_09]: just plucked there because it's a nice number to have

[00:44:08] [SPEAKER_09]: I'm sure there's a good strategic

[00:44:09] [SPEAKER_09]: reason for the fact it's 10 years

[00:44:12] [SPEAKER_09]: but what does success look like for both

[00:44:14] [SPEAKER_09]: Silverfinn and MIOB

[00:44:16] [SPEAKER_09]: in this so what

[00:44:17] [SPEAKER_09]: is not necessary time for him on this but what are the

[00:44:20] [SPEAKER_09]: big wins for you both

[00:44:22] [SPEAKER_04]: I think that

[00:44:24] [SPEAKER_04]: I think Lisa actually spoke to it before

[00:44:26] [SPEAKER_04]: I think that the

[00:44:27] [SPEAKER_04]: Australian and New Zealand market

[00:44:29] [SPEAKER_04]: for practices has been

[00:44:32] [SPEAKER_04]: neglected to be quite frank

[00:44:34] [SPEAKER_04]: in terms of the compliance

[00:44:36] [SPEAKER_04]: solutions that are available to it

[00:44:38] [SPEAKER_04]: and also even having

[00:44:40] [SPEAKER_04]: a business that's focused on practices

[00:44:42] [SPEAKER_04]: for practices and hopefully

[00:44:44] [SPEAKER_04]: that makes sense in terms of

[00:44:45] [SPEAKER_04]: I'm not looking to focus on practices

[00:44:48] [SPEAKER_04]: to chase something else

[00:44:49] [SPEAKER_04]: and having a whole engine room

[00:44:51] [SPEAKER_04]: that's focused on that and so as I said for me

[00:44:53] [SPEAKER_04]: one of the biggest the two biggest things if you like

[00:44:55] [SPEAKER_04]: I think facing practices is around

[00:44:57] [SPEAKER_04]: that productivity challenge that

[00:44:59] [SPEAKER_04]: they've got 60 to 70% of revenues

[00:45:01] [SPEAKER_04]: coming from compliance and making sure that we're talking

[00:45:03] [SPEAKER_04]: to that and the other one for me is around talent

[00:45:05] [SPEAKER_04]: and obviously a platform like

[00:45:08] [SPEAKER_04]: Silverfinn serves both

[00:45:09] [SPEAKER_04]: of those challenges

[00:45:11] [SPEAKER_04]: that practices are facing so for me

[00:45:14] [SPEAKER_04]: completely

[00:45:15] [SPEAKER_04]: sort of aggressive here to be quite

[00:45:17] [SPEAKER_04]: frank ambitious in terms

[00:45:19] [SPEAKER_04]: of the number of practices

[00:45:20] [SPEAKER_04]: that I would like to see

[00:45:23] [SPEAKER_04]: adopting at cloud

[00:45:25] [SPEAKER_04]: native compliance solution

[00:45:26] [SPEAKER_04]: like what we've got with Silverfinn

[00:45:29] [SPEAKER_04]: and so for me that will be the drive

[00:45:31] [SPEAKER_04]: but as Lisa said

[00:45:33] [SPEAKER_04]: if you come out of the gates

[00:45:34] [SPEAKER_04]: you come out super hard and super aggressive

[00:45:36] [SPEAKER_04]: for me it's around making sure that we're actually targeting

[00:45:39] [SPEAKER_04]: the right practices so we've got

[00:45:41] [SPEAKER_04]: waves profiles of practices

[00:45:43] [SPEAKER_04]: that we're looking to target in each wave

[00:45:44] [SPEAKER_04]: and so we'll be doing that progressively

[00:45:46] [SPEAKER_04]: with EAP starting in Q1

[00:45:49] [SPEAKER_04]: calendar year next year

[00:45:50] [SPEAKER_02]: and for us Ryan like on our

[00:45:53] [SPEAKER_02]: sort of what's the Silverfinn mission

[00:45:55] [SPEAKER_02]: I mean it's pretty simple we

[00:45:56] [SPEAKER_02]: we want to get to a million end

[00:45:58] [SPEAKER_02]: businesses in the world

[00:46:00] [SPEAKER_02]: being supported by their accountants

[00:46:03] [SPEAKER_02]: on Silverfinn and our mission is

[00:46:05] [SPEAKER_02]: to make sure that accountants

[00:46:06] [SPEAKER_02]: remain relevant and respected

[00:46:08] [SPEAKER_02]: in a digitally changing world

[00:46:10] [SPEAKER_02]: you know we're pioneers

[00:46:12] [SPEAKER_02]: in AI like we get a bit

[00:46:14] [SPEAKER_02]: we always talk about AI and I get rolled out

[00:46:16] [SPEAKER_02]: to talk about AI but

[00:46:18] [SPEAKER_02]: to be frank with Silverfinn we've been doing

[00:46:20] [SPEAKER_02]: AI and machine learning the very unsexy form

[00:46:22] [SPEAKER_02]: of AI for a number of years

[00:46:24] [SPEAKER_02]: now because it's all about

[00:46:26] [SPEAKER_02]: the automation that can be

[00:46:28] [SPEAKER_02]: brought to accountants

[00:46:30] [SPEAKER_02]: that keeps accountants in control

[00:46:32] [SPEAKER_02]: but you know as per that mean

[00:46:34] [SPEAKER_02]: that's floated around you know with the woman

[00:46:36] [SPEAKER_02]: I want AI to help with the

[00:46:38] [SPEAKER_02]: washing and the dishes so I can do

[00:46:40] [SPEAKER_02]: more arts and music I don't want

[00:46:42] [SPEAKER_02]: AI to do my art and music so I've got

[00:46:44] [SPEAKER_02]: more time for dishes and washing right

[00:46:46] [SPEAKER_02]: so we're really focused on

[00:46:47] [SPEAKER_02]: how is it that we can help accountants

[00:46:50] [SPEAKER_02]: to be relevant and respected

[00:46:52] [SPEAKER_02]: in a digitally

[00:46:54] [SPEAKER_02]: evolving environment which

[00:46:56] [SPEAKER_02]: it clearly is so

[00:46:58] [SPEAKER_02]: that a million businesses in the world we believe

[00:47:00] [SPEAKER_02]: with the influence of accountants will be

[00:47:02] [SPEAKER_02]: better businesses and going back

[00:47:04] [SPEAKER_02]: a little bit to my unleash days I sound a bit

[00:47:06] [SPEAKER_02]: altruistic here but

[00:47:07] [SPEAKER_02]: we believe that when businesses

[00:47:09] [SPEAKER_02]: do better in the world when we have

[00:47:11] [SPEAKER_02]: better businesses in the world that's better

[00:47:13] [SPEAKER_02]: for all of us right we're all consumers

[00:47:15] [SPEAKER_02]: we're all a member of

[00:47:17] [SPEAKER_02]: societies that need businesses to be

[00:47:19] [SPEAKER_02]: performing well when businesses don't

[00:47:21] [SPEAKER_02]: perform well when accountants aren't

[00:47:23] [SPEAKER_02]: able to help those businesses

[00:47:25] [SPEAKER_02]: perform well I think we're

[00:47:27] [SPEAKER_02]: all poorer for it so

[00:47:29] [SPEAKER_02]: that's kind of what motivates and drives us

[00:47:31] [SPEAKER_02]: and if we can get

[00:47:33] [SPEAKER_02]: to that goal

[00:47:34] [SPEAKER_02]: through a partnership as opposed to going there

[00:47:37] [SPEAKER_02]: ourselves as much as

[00:47:38] [SPEAKER_02]: I have got a very long queue in the office

[00:47:40] [SPEAKER_02]: of people who want to go

[00:47:42] [SPEAKER_02]: and set up Silverfin and ANZ

[00:47:44] [SPEAKER_02]: and I do have a long list

[00:47:46] [SPEAKER_02]: it is smarter

[00:47:48] [SPEAKER_02]: for us to look at options like this

[00:47:50] [SPEAKER_02]: and you know sort of

[00:47:51] [SPEAKER_02]: enclosing what I also want to say is

[00:47:53] [SPEAKER_02]: I think that you can

[00:47:55] [SPEAKER_02]: do these partnerships

[00:47:57] [SPEAKER_02]: if you think if you're thoughtful

[00:47:59] [SPEAKER_02]: about them like

[00:48:00] [SPEAKER_02]: you know every week on this

[00:48:02] [SPEAKER_02]: like nine months, nine months

[00:48:04] [SPEAKER_02]: we're working on how to make this partnership work

[00:48:06] [SPEAKER_02]: so we're not just doing it blindly

[00:48:08] [SPEAKER_02]: it's not just a market announcement

[00:48:09] [SPEAKER_02]: I guess what we're going to do

[00:48:10] [SPEAKER_02]: we're going to get some more clicks

[00:48:12] [SPEAKER_02]: but what I also want to be

[00:48:15] [SPEAKER_02]: is a kind of pioneer in saying

[00:48:16] [SPEAKER_02]: those best in breed accounting

[00:48:20] [SPEAKER_02]: products that serve

[00:48:22] [SPEAKER_02]: accountants

[00:48:23] [SPEAKER_02]: sometimes the path to market

[00:48:25] [SPEAKER_02]: and the path to getting them in the hands of users

[00:48:27] [SPEAKER_02]: isn't always going it alone

[00:48:29] [SPEAKER_02]: and I've been in a number of software businesses

[00:48:31] [SPEAKER_02]: and you know me Ryan

[00:48:32] [SPEAKER_02]: I think when you've got a good product

[00:48:35] [SPEAKER_02]: at the heart of your offering

[00:48:37] [SPEAKER_02]: and you stay true to that then it's the go to

[00:48:39] [SPEAKER_02]: market stuff that can evolve and adapt

[00:48:41] [SPEAKER_02]: depending on the circumstances

[00:48:42] [SPEAKER_02]: and the customers you're choosing to go after

[00:48:45] [SPEAKER_02]: we're going to focus on being a great product

[00:48:47] [SPEAKER_02]: a great product that serves accountants

[00:48:49] [SPEAKER_02]: and then if these guys

[00:48:51] [SPEAKER_02]: are best at getting them into market

[00:48:53] [SPEAKER_02]: then that's a smart move for us

[00:48:54] [SPEAKER_02]: and we don't have to focus on that

[00:48:56] [SPEAKER_02]: we'll put all that effort and energy

[00:48:58] [SPEAKER_02]: back into building some more great product

[00:49:00] [SPEAKER_02]: and platform features

[00:49:01] [SPEAKER_02]: I know it sounds a bit boring

[00:49:03] [SPEAKER_02]: I'm a product business person

[00:49:05] [SPEAKER_02]: and I just want to build the best products we can

[00:49:08] [SPEAKER_09]: Building advanced AI

[00:49:10] [SPEAKER_09]: and accounting tech is really boring Lisa

[00:49:12] [SPEAKER_09]: yeah

[00:49:14] [SPEAKER_09]: so obviously

[00:49:15] [SPEAKER_09]: we're mostly UK focused

[00:49:18] [SPEAKER_09]: podcast and obviously

[00:49:20] [SPEAKER_09]: this is mostly going to affect the Australian market

[00:49:22] [SPEAKER_09]: but Silverfin

[00:49:23] [SPEAKER_09]: is penetrating more and more

[00:49:26] [SPEAKER_09]: accounting practices in the UK

[00:49:28] [SPEAKER_09]: just for clarity this is only

[00:49:30] [SPEAKER_09]: affecting the Australian

[00:49:31] [SPEAKER_09]: or the market down there this has no impact

[00:49:33] [SPEAKER_09]: on Silverfin outside of that market

[00:49:35] [SPEAKER_02]: so correct? No it has an

[00:49:37] [SPEAKER_02]: accept familiar positive impact Ryan

[00:49:39] [SPEAKER_02]: like one of the things we like about being

[00:49:41] [SPEAKER_02]: an international player

[00:49:43] [SPEAKER_02]: and bringing you know we bring

[00:49:45] [SPEAKER_02]: insights from all of those markets

[00:49:47] [SPEAKER_02]: and all those accountants we're serving into

[00:49:49] [SPEAKER_02]: the UK and into the way we look

[00:49:51] [SPEAKER_02]: at our product roadmap and our vision

[00:49:53] [SPEAKER_02]: we talk to the accountants in Belgium

[00:49:55] [SPEAKER_02]: and we see what they're doing and we pick the best

[00:49:57] [SPEAKER_02]: bits of that and we go let's go on the product

[00:49:59] [SPEAKER_02]: and some of that stuff UK accountants have never

[00:50:01] [SPEAKER_02]: contemplated this gives us just

[00:50:03] [SPEAKER_02]: another opportunity to look

[00:50:05] [SPEAKER_02]: at what another market is doing now

[00:50:07] [SPEAKER_02]: the post accounting solutions that Australia

[00:50:09] [SPEAKER_02]: might be behind what we've got

[00:50:11] [SPEAKER_02]: but I can guarantee you we're going to find some things

[00:50:13] [SPEAKER_02]: going on in Australia and New Zealand

[00:50:15] [SPEAKER_02]: that are innovative and more

[00:50:17] [SPEAKER_02]: progressive than what we're doing

[00:50:19] [SPEAKER_02]: up here in the UK so I think

[00:50:21] [SPEAKER_02]: UK customers and our UK prospects

[00:50:23] [SPEAKER_02]: are going to get some benefits of that

[00:50:25] [SPEAKER_02]: but I think overall what they're going to get

[00:50:27] [SPEAKER_02]: the benefit of is we stay

[00:50:29] [SPEAKER_02]: really committed to our goal of being

[00:50:31] [SPEAKER_02]: the best client

[00:50:33] [SPEAKER_02]: accounting, post accounting

[00:50:36] [SPEAKER_02]: compliance accounting

[00:50:37] [SPEAKER_02]: solution powered by AI

[00:50:39] [SPEAKER_02]: a deal like this

[00:50:41] [SPEAKER_02]: means that we don't have to deviate from

[00:50:43] [SPEAKER_02]: we don't have to go and get money

[00:50:46] [SPEAKER_02]: it's not a distraction

[00:50:48] [SPEAKER_02]: it's totally in our warehouse

[00:50:50] [SPEAKER_02]: it's totally in line with what we do

[00:50:51] [SPEAKER_02]: and therefore any of our customers in the UK

[00:50:54] [SPEAKER_02]: are going well look I'm expecting

[00:50:56] [SPEAKER_02]: the success of Silverfin

[00:50:57] [SPEAKER_02]: means the success of my practice

[00:50:59] [SPEAKER_02]: because more investment in that product

[00:51:01] [SPEAKER_02]: is only going to be good for us so we're not

[00:51:03] [SPEAKER_02]: going anywhere we're not going anywhere

[00:51:05] [SPEAKER_02]: post-Avismar acquisition

[00:51:07] [SPEAKER_02]: we're certainly not changing our focus

[00:51:09] [SPEAKER_02]: and I think this just proves it

[00:51:11] [SPEAKER_02]: just a little bit more maybe

[00:51:12] [SPEAKER_09]: thank you both for coming on

[00:51:14] [SPEAKER_09]: it's been great talking to you

[00:51:16] [SPEAKER_09]: and learning a bit more about the strategic partnership

[00:51:18] [SPEAKER_09]: it sounds a lot more in depth

[00:51:21] [SPEAKER_09]: than a lot of the ones that we hear about

[00:51:22] [SPEAKER_09]: and it's going to be beneficial I think

[00:51:24] [SPEAKER_09]: both North and South hemispheres

[00:51:28] [SPEAKER_04]: brilliant

[00:51:28] [SPEAKER_04]: thanks Ryan

[00:51:29] [SPEAKER_08]: thank you for joining us

[00:51:34] [SPEAKER_08]: on today's podcast

[00:51:35] [SPEAKER_08]: we hope you enjoyed it

[00:51:37] [SPEAKER_08]: and as Ryan mentioned earlier

[00:51:39] [SPEAKER_08]: our awards event is upcoming

[00:51:41] [SPEAKER_08]: so please make sure

[00:51:43] [SPEAKER_08]: that you keep posted on the ticket sales

[00:51:46] [SPEAKER_08]: join us for the evening

[00:51:48] [SPEAKER_08]: if you can

[00:51:48] [SPEAKER_08]: it will be a night to remember

[00:51:51] [SPEAKER_08]: we would love it if you could join us because we've built

[00:51:53] [SPEAKER_08]: a really great community

[00:51:55] [SPEAKER_08]: of people around the events

[00:51:57] [SPEAKER_08]: and we really want to make sure

[00:51:58] [SPEAKER_08]: that we're honouring

[00:52:01] [SPEAKER_08]: and rewarding those people that are doing

[00:52:03] [SPEAKER_08]: such good work in our space

[00:52:04] [SPEAKER_08]: so really look forward to seeing you

[00:52:07] [SPEAKER_08]: at Accountex North

[00:52:08] [SPEAKER_08]: and hopefully catch you on the next podcast

[00:52:11] [SPEAKER_08]: thanks bye