Category: Cloud Computing

Pondering the Traditional Personal Computer

5/3/2021

Several years ago, I questioned should your next personal computer even be a computer. That is, with the advances in mobile technologies and cloud-based computing that had appeared at the time, the question of whether many business professionals genuinely need access to a traditional desktop computer seemed relevant. Today, that question is alive and well more than ever. In this article, you will learn about why your next computer may be quite different from your last.

First, The Numbers

According to Statista, personal computer shipments reached a high point in 2011. During that year, over 365 million units were sold, as shown in Figure 1. Since that time, shipments have declined steadily, except for a slight uptick in 2020. That uptick is likely attributable to sales to enable pandemic-driven remote work strategies.

Figure 1 - Worldwide Shipments of PCs, 2006 through 2020

What is Driving the Decline?

The drivers of the decline in sales are somewhat intuitive. First, our devices are generally lasting longer than they did in the past. Better quality components yield longer useful lives. In turn, improved quality reduces the need to replace computers as often as we did in the past.

Second, the rise of mobile devices has no doubt impacted our need to use traditional computers. With smartphones and tablets, our dependency on computers to perform many tasks is less than before. Further, many users prefer to perform tasks using their mobile devices. Of course, this trend depresses the demand for PCs even more.

Third, the rise of cloud computing and remote computing changed the business landscape permanently. Today, businesses of all sizes can access a cloud-based service for virtually every need. For example, cloud-based services exist for accounting, tax preparation, document management, customer relationship management, analytics, and most other business functions. Moreover, with many businesses having adopted virtual desktops, even though their team members “see” a traditional desktop computer on their monitors, they actually run a computer accessed from their web browser instead of a conventional desktop PC. Further, they can access this virtual computer from their smartphone or tablet, if desired. For these three reasons and perhaps others, we should not be surprised to see a decline in desktop and laptop computer sales.

What About the Future?

Looking forward, you should expect the trends outlined above to continue, perhaps even accelerating. Specifically, the impact of mobile devices and cloud-based applications will cause an increasing number of users to question the value of a traditional desktop or laptop device.

For example, recent advances in iOS (the operating system for iPhones and iPads) allow users to connect a mouse to their mobile device using Bluetooth. Coupled with the fact that you can also connect a keyboard using Bluetooth and you can connect your device to an external monitor, and suddenly the differences between an iPad and a desktop computer begin to diminish. In fact, for many information workers, being able to use their smartphone or tablet as their “uber” device can be appealing. Reasons for this appeal include reduced costs, less maintenance, and potentially improved security because fewer devices are in use and subject to attack.

Are There Downsides?

Indeed, the idea of using a smartphone or tablet is not for everyone. However, to the extent that your need for computer centers around communication, collaboration, or accessing a virtual computer hosted elsewhere, then the idea merits consideration. But, there can be downsides.

One potential downside is the availability of apps and services that you can run from the mobile device. Suppose you work for a large organization with a fully-integrated ERP platform hosted on your company’s servers. In this case, it is doubtful that you would be able to access that platform directly from the mobile device. Likewise, although the web-based and mobile app versions of Microsoft Office are much stronger than they were just a few years ago, they still do not provide all their traditional counterparts’ features and functions. Thus, if you need access to the full version of Excel, for example, you would be wise to stay with a traditional PC.

Summary

Once considered a staple of every business professional’s toolkit, desktops and laptops are far less favorable now than just a decade ago. Advances in cloud computing and mobile devices mean that traditional computing platforms are no longer necessary for many business professionals. Instead, while still the minority, some professionals have transitioned to a single device to serve all their needs. While this strategy is not necessarily suitable for everyone, it can be a simpler, safer, and more cost-effective way of working for a surprising number of professionals today.

You can learn more about emerging technologies by participating in a K2 Enterprises Technology Conference. For more information, click here.

Tommy Stephens

Cash Flow Tracking Solutions

4/5/2021

Cash flow tracking solutions can be the difference between success and failure. Above all, happiness is a positive cash flow. By understanding exactly how much cash is in your business, you can track your business’s financial health. Similarly, sales and expenses, as well as capital investments, impact your bank balance. In other words, the route you take to assess company cash flow is likely to differ based on several factors. For instance, the size of your business, industry, workforce size, and growth potential affect cashflow. In addition, innovative solutions to track company cash flow may help you manage this aspect of your business. Keith Tully, a partner at Real Business Rescue, talks about why keeping a close eye on company cash flow can prevent dangerous trading behavior.

Cash Flow Tracking Solutions in Cloud Bookkeeping and Accounting Software

There are numerous cloud accounting and bookkeeping software providers for small and medium enterprises, limited companies, and flexible workers. Depending on the platform that you choose to use, there are additional features that can help simplify the accounting journey, such as:

Cash Flow in Cloud Accounting: Mainstream cloud bookkeeping and accounting software products like QuickBooks Online, Sage 50cloud Accounting, Xero, and Zoho Books have cash flow reports. Tracking significant aspects of the business is built into these products, including invoicing, bank transactions, and credit cards.

Cash Flow products that extend accounting: Included cash flow reports in accounting products are simple. Therefore, sometimes you need or want more capabilities. For instance, cash flow products include CashFlowTool (Finagraph), Fathom, Futrli, Jirav, LivePlan (Palo Alto), and Spotlight Reporting.

Spreadsheets

Before cloud bookkeeping and accounting software, storing financial records in spreadsheets was a convenient and accessible way to keep track of company finances. Many business owners still do this. By regularly updating cash flow on excel spreadsheets, company directors could better budget company finances.

Accounting professionals typically produced master spreadsheets with integrated formulas. These spreadsheets helped to efficiently calculate whether the business was running up losses or generating profits, considering accruals and amounts owed. During an age where industry-standard accounting software was scarce and hard to come by, spreadsheets represented an efficient operating means.

Cash Flow Test for Insolvency

Suppose your business is showing signs of poor cash flow. It is, therefore, unable to fulfill financial commitments, such as paying staff wages and replenishing stock. In that case, you may need to conduct a cash flow test for insolvency. This test functions as a financial health check on the business and can help indicate if your business is contingently insolvent. In addition to a cash flow test, you should seek specialist advice from a practitioner with insolvency experience. Rescuing a company is part art and part science.

Tracking company cash flow can help paint an accurate image of how your business is faring at any given time. By incorporating tools to understand company cash flow better, you can act pre-emptively. If your business is due to run out of cash and requires a cash injection, it is better to know as far in advance as possible. On the other hand, if your business exceeds expectations and is beating records, tracking such progress can help fuel company growth.

Looking for Solutions?

This short article was trying to expose you to cash flow tracking solutions. There are many more products to consider than those we have covered. We expect accounting professionals to assist their organizations and clients with cash flow issues. In conclusion, we know that both techniques and products can help maintain a positive cash flow. And isn’t that happiness?

Understand the latest in cash flow technologies in our CPD courses on accounting and customer support systems in small business accounting with add-ons or mid-market accounting, which includes cash flow systems.

Randy Johnston

3 Tips to Beat Work-From-Home Burnout

3/4/2021

Thanks to this year’s global pandemic, more people are working from home than ever before. As many are coming to realize, burnout often goes hand-in-hand with remote work. We thought that providing 3 tips to beat Work-From-Home burnout might help you. Not surprisingly, articles about how to prevent or avoid burnout have popped up all over the internet. Far fewer resources, however, address how to overcome burnout if you are already suffering.

How Do You Identify Burnout?

Recent reports indicate productivity dropped 4.8% in the last quarter of 2020. This productivity drop was the largest decrease since 1981. We have written other articles on being productive from home like Insight on Work at Home and Work-From-Home Strategies – “The Finer Points.” We have talked about Tips for Starting a Home Based Business and The Rise of “COVID-prenuers.” And, we have even created Continuing Professional Education (CPE) courses on Working at Home. But with all this guidance on how to work from home or be successful from home, burnout can kick in.

How do you know if you are among the 69% of remote workers currently suffering from burnout? While the symptoms can look different for everyone, these are a few of the tell-tale signs:

Feeling negative or apathetic toward work
Trouble falling asleep or staying asleep
Forgetfulness, or an impaired sense of the passage of time
Using substances as coping mechanisms
Decreased efficiency — for example, finding yourself re-reading the same sentence over and over

If you have noticed some of these red flags in your life lately, you could be burned out. Fortunately, there are several effective ways to banish burnout and restore your work-life balance. Consider these three ideas.

1. Establish Time Boundaries for Work-From-Home

One of the major causes of work-from-home burnout is the lack of time boundaries. If you work-from-home, you are probably acutely aware of how often you let your life interrupt your work, answering a child’s question or moving the laundry into the dryer, for example. However, you may not realize how often you let work interrupt your life. You may find yourself responding to an email while cooking dinner or absentmindedly logging in during TV time.

Many remote workers report feeling as though they are never “off” work. As Dr. Heather DeQuincey put it in a now-viral tweet: “I think we need to stop calling it ‘working from home’ and start calling it ‘living at work.’”

It is not hard to see how such nonstop connectivity can lead to burnout. Inc. explains one of the most effective ways to combat this problem is establishing firm temporal boundaries and sticking to them. Create a work schedule, write it down, and let your family and co-workers know that these are the times you will be available. It may be difficult at first, but in the end, it will save you countless wasted hours, not to mention your sanity.

2. Set Physical Boundaries to Minimize Burnout

If your current workspace lacks physical boundaries, it could contribute to feelings of burnout. Just because you can work from anywhere does not mean that you should work from everywhere. If you pop open your laptop or check work on your phone in every room of your house, your brain eventually associates all those areas with working. No wonder you are feeling burned out!

Establish a designated workspace in your home. Try to restrict your work to this place as much as possible. Real Simple notes that ideally, your work area should be near a window where you can get some natural light, or at the very least should be well-lit and at a comfortable temperature. Choose an area that is free from visible distractions, including piles of clutter. A disorganized or chaotic work area disrupts your energy flow. Further, clutter tends to breed negative thoughts, so it should be dealt with accordingly. Any distracting objects or unfinished projects should be out of sight.

3. Automate Tasks When Possible to Beat Tasks Sucking Up Time

There are many apps and programs available that you can customize to automate or nearly automate a vast array of tedious tasks. These sorts of tasks can suck up loads of your time and energy. Worse, unproductive tasks leave you feeling that you did not accomplish anything.

Remember that you can pick tips and tools that our K2 team recommends. Further, remember our guidance on outsourcing. Learning to say no will make a difference in your business and work-life balance. And yes, there is an app for that!

Still Not Enough?

If you have become burned out while working from home, you are not alone. These 3 tips to beat Work-From-Home burnout can help you establish a healthier, more sustainable relationship with your work.

However, if things do not get better for you, call for professional help. Unfortunately, I know of multiple people who have chosen suicide based on their stress levels in the last 60 days. Get help from places like the Canada Suicide Prevention Service at 1-833-456-4566 or from your medical professionals. While many of us offer our friendship and support, we often do not know our friends and colleagues are desperate for help. Watch out for the symptoms above in yourself, family, friends, and colleagues.

Randy Johnston

Technology Focused Learning - Why It's Now a Business Necessity

12/2/2020

Planning your professional education curriculum is a balancing act, with many competing options and mandates, including technology focused learning. In the past, many have viewed technology focused learning somewhat dismissively. The following sentiment summarizes the attitude many have on this topic.

Why do I need to learn more about technology? I already use Excel and email and I can open PDF documents and navigate them with ease. What more is there to learn?

Well, the short answer is there is plenty more to learn, and it’s changing by the day. And that is why technology focused learning is a business necessity today to remain competitive.

The Ever-Changing Technology Landscape and It's Impact on Learning Plans

Consider the following four examples of how technology has changed how we work over just the past few years.

CLOUD COMPUTING

Less than a decade ago, most organizations were still running most of their applications from local servers and resources. In today’s world, having a fundamental knowledge of Cloud Computing is mandatory for success. Why? Because knowledge workers are now running five Cloud-based applications, on average. Given this, it only seems fitting that Cloud Computing should be a component of our technology focused learning efforts.

INFORMATION SECURITY

Information security was once thought to be the sole responsibility of the IT staff. Now, given the explosion of ransomware, phishing attacks, social engineering, and countless other schemes, security is a shared responsibility. No doubt, our IT staffs must continue their efforts, and likely enhance them to ensure adequate protection. But end users must become educated on the risks and be aware when something seems to be out of order. In other words, information security is a now a shared responsibility. In this environment, our information will be only as secure as the least secure link in the chain. Against that backdrop, can we afford not to include security training in our professional development curriculums?

SUBSCRIPTION-BASED SOFTWARE

Subscription-based software – such as Office 365 and Acrobat DC – is further complicating matters and escalating technology focused learning needs. For example, if you are an Office 365 subscriber, Microsoft is adding new features to your applications periodically. This means that you are getting new tools added to Excel, Word, PowerPoint, and other Office applications. Yet, these new features do not increase your productivity unless you are a) aware of their presence and b) knowledgeable on how to use them. Accordingly, on-going learning is necessary to ensure the you are maximizing your return on investment from your subscription-based applications.

EMERGING TECHNOLOGIES

Emerging technologies are coming to market rapidly and some organizations are implementing them almost as soon as they appear. A fitting example of this is Robotic Process Automation (RPA) – a technology that you may already be hearing much about. In a nutshell, RPA allows you to use software-based robots – “bots” – to automate tasks that are rote and repetitive. Stated differently – when implemented properly – this technology can free information workers from manually performing these same tasks. In doing so, it allows these team members to focus on tasks that have greater value to the organization. Further, RPA can reduce labor costs and increase overall accuracy and efficiency.
Of course, RPA is but one of many examples of emerging technologies that are on the precipice of changing how we work. Unfortunately, those who remain unaware of RPA and similar emerging technologies will not experience the benefits as soon as they could or perhaps should. Again, this only reinforces the need for technology education.

Planning Your Technology-Focused Training

FOCUS ON MISSION-CRITICAL CONTENT FIRST

The first step in planning your technology-focused learning curriculum should likely be to consider the content you need to focus on. For example, if your organization will be implementing any new hardware, software, or other services during the year, then you and your team will likely require training in that area. The extent of that training will depend upon the complexity of the technology you are implementing relative to the current skills and knowledge of you and your team members.

ONGOING MAINTENANCE

A possible second step in planning your curriculum is to consider the need for “ongoing maintenance” training. Included in this category are updates on specific applications and services you already use. For example, if you are an Office 365 subscriber, participating in an update session of relevant new features should be near the top of your list. Likewise, assuming you are running Windows 10, gaining an understanding of new features and tools embedded in your operating system should be a priority. Remember if you don’t know about these new features – and therefore can’t use them – you will not be able to maximize ROI.

SECURITY TRAINING SHOULD BE MANDATORY

As mentioned previously, security training is a virtual necessity in today’s increasingly risky world. Typically, I recommend four to eight hours of security training each year for most business professionals and their team members. You can easily accomplish this during staff meetings or even “lunch-and-learn” type environments; these methods are particularly useful when trying to raise all team members’ awareness of the risky world in which we operate and continually reinforce their responsibilities.

SKILLS ENHANCEMENT TRAINING

In addition to the three categories outlined above, you should set aside time to learn relevant new skills that can make you more productive. To illustrate, consider some of the ubiquitous opportunities available in Excel. Recent enhancements to Excel in the areas of Power Query, Data Models, and Power Pivot set the stage for completely overhauling how many accounting and financial professionals create reports. The same can be said of Microsoft’s Power BI tools too. Unfortunately, relatively few accounting and financial professionals currently have the knowledge to take advantage of these tools. This means that most remain locked-in to stale, inefficient, and outdated reporting processes. When planning your curriculum, be sure to invest ample time in new topics that can expand and improve your skill set.

BECOME FAMILIAR WITH EMERGING TECHNOLOGIES

As indicated previously, emerging technologies appear at an unprecedented pace. Allocate time in your training schedule to become familiar enough with these technologies to know whether they could potentially become useful in your organization. This is not to say that you need to become an expert on each innovative technology. Rather, you should become aware enough of each of these tools to know whether they will impact your business. If you reach the conclusion that they are relevant, then you should likely invest more time in the future to gain a deeper understanding of the technology and its related benefits and risks.

Where to Obtain Your Technology-Focused Learning

TRADITIONAL LEARNING OPTIONS

The number of options you have available today for accessing technology focused learning is virtually unlimited. Formal training programs are offered by many companies (including mine, K2 Enterprises) and can often be scheduled through state CPA society organizations. Options available in this distribution channel include in-person seminars and conferences, webcasts, and on-demand sessions.

Another option is to engage one of the content providers discussed in the preceding paragraph to bring the training directly into your organization. The major benefits associated with this approach include: 1) the ability to customize the content to meet specific needs, 2) potentially reduced costs, and 3) the convenience of scheduling the training at a time and place that is convenient for participants.

Additionally, major technology vendors often sponsor their own conferences, which usually include substantial learning options. These options can be particularly useful if you have a specific training need that centers around a technology sold and supported by the sponsor of the conference.

SOME ALTERNATIVE LEARNING OPTIONS

You may be able to leverage in-house expertise to create and deliver content to other team members. However, you should be aware that this can prove to be an expensive proposition if the discussion leader will need to develop appropriate materials for participants. Also, you should check with the appropriate body to determine if professional education/development credits can be claimed in these environments.

Finally, don’t forget all the on-line resources that are available to you today, including something as simple as YouTube. You may be pleasantly surprised to see how much useful content is available on YouTube and similar platforms.

Summary

Technological innovation continues at unprecedented rates. And, consequently, so too does the need for technology focused learning. Unfortunately, in far too many cases, business professionals overlook the need to improve their technology skills. To address this issue, we recommend technology focused training that encompasses five areas: 1) Mission-critical content, 2) On-going maintenance, 3) Security training, 4) Skills enhancement training, and 5) Emerging technology familiarity. By allocating sufficient time to learning activities in these areas, you will be on your way to maintaining your skills. You will also gain new ones that will improve your productivity and efficiency now, and in the future.

Click Here to learn more about technology-focused training options from K2E Canada Inc.

Tommy Stephens

Authors

Ward Blatch
Ward provides consulting and training services as the Managing Director of K2E Canada Inc. He joined K2E Canada in 2005 and is responsible for the Canadian operations of this international consulting group, which provides professional development technology education for accountants across Canada and the US. Ward lives in rural Nova Scotia and can be reached at ward@k2e.ca.

Tommy Stephens
Tommy is one of the shareholders in K2 Enterprises, affiliating with the Firm in 2003 and joining as a shareholder in 2017. At K2, Tommy focuses on creating and delivering content and is responsible for many of the Firm's management and marketing functions. Tommy resides in the metro Atlanta area. You may reach him at tommy@k2e.com.

Randy Johnson
Randy is a nationally recognized educator, consultant, and writer with over 40 years experience in Strategic Technology Planning, Accounting Software Selection, Paperless, Systems and Network Integration, Business Continuity and Disaster Recovery Planning, Business Development and Management, Process Engineering and outsourced managed services. Randy can be reached at randy@k2e.com

Bernie Smith
Bernie coaches businesses to develop meaningful KPIs and present their management information in the clearest possible way to support good decision making. As the owner of Made to Measure KPIs, he has worked with major organisations including HSBC, Airbus, UBS, Barclays, Credit Suisse, Lloyds and many more.

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First, The Numbers

What is Driving the Decline?

What About the Future?

Are There Downsides?

Summary

Cash Flow Tracking Solutions in Cloud Bookkeeping and Accounting Software

Other Tracking Solutions in Cloud Bookkeeping and Accounting Software

Spreadsheets

Cash Flow Test for Insolvency

Looking for Solutions?

How Do You Identify Burnout?

1. Establish Time Boundaries for Work-From-Home

2. Set Physical Boundaries to Minimize Burnout

3. Automate Tasks When Possible to Beat Tasks Sucking Up Time

Still Not Enough?

The Ever-Changing Technology Landscape and It's Impact on Learning Plans

CLOUD COMPUTING

INFORMATION SECURITY

SUBSCRIPTION-BASED SOFTWARE

EMERGING TECHNOLOGIES

Planning Your Technology-Focused Training

FOCUS ON MISSION-CRITICAL CONTENT FIRST

ONGOING MAINTENANCE

SECURITY TRAINING SHOULD BE MANDATORY

SKILLS ENHANCEMENT TRAINING

BECOME FAMILIAR WITH EMERGING TECHNOLOGIES

Where to Obtain Your Technology-Focused Learning

TRADITIONAL LEARNING OPTIONS

SOME ALTERNATIVE LEARNING OPTIONS

Summary

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Authors

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