Don’t Get SaaSy with SaaS: 4 Reasons Why SaaS Additions to Quickbooks Online Should be Embraced

There are great misconceptions about trusting SaaS additions over keeping certain processes such as revenue recognition “in house.” Let’s debunk!

     In Jeffery Kaplan’s “SaaS: Friend or Foe,” the benefits of SaaS additions and SaaS software annihilate the downloadable, less dynamic software through their ease of use and ability to be isolated if problems ever arise. SaaS solutions have been reported as:

  1. Having far less end user support issues

     2. Pay-as-you-go pricing and subscription models hold the SaaS company regularly accountable for your experience and upgrades

     3. SaaS products are known for their efficiency and absence of cost overruns

        Bonus note: ProRata magnifies an efficient operation that adds value to your company 😉

     4. Improved collaboration amongst team members and organizations due to increased access to information and software

“In house” is essentially robbing yourself of the benefits that SaaS provides by not being “in house;” one of the most cited reasons being security. In today’s security conscious market, SaaS providers bring in these five benefits in addition to being intensely invested in the security of your data. Its mutualism! We take care of you as fiercely as we take care of us.

For the original article, click here: http://www.webtorials.com/main/resource/papers/BCR/paper125/06kaplan.pdf

QuickBooks Online App Recommendations and the Adaptive Unconscious: Artificial Intuition Could Soon Be Recommending ProRata as Your Revenue Recognition Solution

ProRata Dashboard

 

     Artificial Intuition.

 

     At first glance an oxymoron, artificial intuition will change the way you are introduced to solutions thanks to data analytics. Intuition is a word we often associate with anything but artificial: “You’ll make the best decision, trust your gut,” “I knew my child was up to no good – mother’s intuition,” “Your boss has killer instinct when it comes to negotiating deals.” It is a knowledge that we know people don’t consciously have so we associate it with primal and nature-specific words. Let’s dive into some grossly simplified popular psychology!

 

     The mind consists of an conscious mind (problem-solving mind/executive mind/logic) and an unconscious mind (habitual mind/autopilot/intuition). We often think of the unconscious as primitive and it is, yet it is so far from it. It is the best evaluator, decision maker, and influencer of conscious decisions, making use of event based learning. When people feel like they are on autopilot or practice something until it is “second nature” that is the part of the brain they are training/have trained. It is far greater at crunching the lessons of past experience than your conscious mind can ever hope to toggle with. This is why experience is so invaluable as it is the only tried and true way of training the unconscious mind and influencing the conscious mind into making great decisions on the fly. This has been popularly referred to in cognitive psychology as the adaptive unconscious. However, the unconscious mind is fallible. It can try to use unlike experiences to influence your problem solving and can be primed to make decisions that you might not be fully aware of or happy with once you follow through (sources below).

 

     In the world of tech where the lifetime of a product or solution is the shortest it has ever been, how could the unconscious mind ever be prepared with the intuition to make the best decisions?

 

     Data analytics.

 

     Data analytics has provided a powerful tool from which stores and companies can provide you with artificial intuition: personalized recommendations. Not only does it suggest solutions conveniently as you search, narrowing your options, but perhaps its most vital role is that it promotes apps that based on other users experience, similar companies, etc, that you will get a recommendation that will mirror a decision you’d make if those experiences had been your own.

 

     It has been recently advertised that soon QuickBooks Online (QBO) App Store will use personalized recommendations meaning ProRata could soon be a recommendation for you to automate your revenue recognition. We say go ahead and trust your (artificial) intuition – it’s looking pretty good!

 

Sources:

Martin, N. (2008). “Habit” Upper Saddle River, NJ: FTPress.

QBO(https://developer.intuit.com/hub/blog/2016/08/05/introducing-personalized-app-recommendations-quickbooks-online)

QBO Firm of the Future (http://firmofthefuture.com/apps)

David McRaney “You Are Not So Smart”

Jonah Lehar “How We Decide”

Artificial Intuition: (http://artificial-intuition.com/intuition.html)

GAAP Compliance and the History of the High Five: The Link Revealed

 

  So you’ve dazzled your friends and family with the history of the high five and left them with a  promise for more. Forget watching the end of “Breaking Bad,” this is clearly what they have been desperately wanting a conclusion to all week. Now for how in the world the history of the high five relates to GAAP compliance:

 

    The key take away from the history of the high five is that we teach, learn, and grow to agree upon meaning for certain rules and rituals of communication including expressions and mutual gestures. This allows us to relay the message we want, short and sweet. This isn’t a new concept. Those with limited communication due to communication barriers have long understood what it means to have a means, medium, or rules for communication and engagement for success in growing and networking as individuals or groups. When those rules are habitual to a group, it allows for easy communication that is quickly understood. Just like over a century this was done with developing the high five as a simple means of sharing excitement, the same can be said for the rules of accounting and demonstrating financial success/excitement.

 

    If you want to communicate success, how do you do it? By speaking the language that everyone understands: GAAP. That’s not to say there aren’t other rules/languages, but that is the means of communication you and everyone else in the space have agreed to use in that space. Communication errors and barriers exist once you pull away from the rules. When you recognize revenue, the best way to eradicate communication errors and barriers when looking for funding is by being GAAP compliant, the sooner the better.

 

    GAAP, the generally accepted accounting principles, allows for companies of all sizes, ages, and stages to understand the joy of success you are trying to communicate without risk of overvaluation and potentially looking like you incurred a huge loss: for start-ups, anything but constant ramp up can be a sign of disaster and funding will sure to find other opportunities. Your revenue recognition process is important as it is the chosen form of communication of success and potential to others.

 

GAAP: (http://www.accountingfoundation.org/gaap)

GAAP Compliance and the History of the High Five:(http://www.prorata.com/blog/uncategorized/gaap-compliance-and-the-history-of-the-high-five/)

 

GAAP Compliance and the History of the High Five

 

You won a gift card, you get away with a prank, you encourage a teammate, you let a person as young as a toddler know they did a great job, what do you do?

 

   *High Five*

 

    Its a little weird though?

 

    Slapping palms about chest high or up, generally while smiling, and deciding you have communicated everything you needed to and you go about your day. It’s not a natural reflex in spite of the fact these days it certainly feels like it.

 

    The high five is a relatively new gesture in American history to display mutual happiness and congratulations. Or, if you are an avid “How I Met Your Mother” follower, it can even be used to convey grief, moving past awkward interactions, and or to praise your faith.

 

    So the story goes that it started as “giving skin/slapping skin” as a low five given amongst jazz musicians. Like all forms of popularity and notoriety, a person who embodies popular and notable performed the act: famous Al Jolson in the 1927 film The Jazz Singer.

 

   Following it burst of fame as a result of the film, the next major burst of fame came in the late 60s or 70s depending on which athlete you believe. Yep, you read it right, athlete. Famed baseball players Dusty Baker and Glen Burke at a Los Angeles Dodgers game raised his hand to slap in celebration after Dusty Baker made a home run. Out of excitement and velocity, rather than hitting low, they hit high! and the high five was born! (see sources for additional athletes claiming to have been the first to put the high five on the map from its predecessor the low five).

 

    Its final claim to fame was when the Louisville Cardinals in 1980 displayed the high five constantly in a nationally covered basketball game leading to its wide spread popularity amongst the American people. It was in this year the the term was added into the Oxford English Dictionary and in 1981, they determined the noun could also be used as a verb.

 

    Now the high five, like many forms of communication, has taken on a variety of tones, connotations, and strains thanks to individuals personalizing this now famed gesture as seen on popular American TV shows like “How I Met Your Mother.”

 

    Check out the links below for sources and further reading.

 

    So giving a high five is not only taught gesture to us by others to communicate our mutual joy, but its basic enough that a child as young as a toddler can easily communicate with someone who has an impressive number of ticks on the ol’ odometer.

    

    Did you get this far? Awesome! You are officially going to have the best fun fact story at the water cooler. But we are missing a piece:

 

   GAAP compliance and the history of the high five? How do they relate?

     

      Check us out next week for the following blog post!

 

Sources:

 

Neatorama: http://www.neatorama.com/2011/04/21/the-history-of-the-high-five/

Wonderopolis: http://wonderopolis.org/wonder/who-invented-the-high-five

ESPN: http://www.espn.com/espn/story/_/page/Mag15historyofthehighfive/who-invented-high-five

Mental Floss: http://mentalfloss.com/article/50163/brief-history-high-five