KPMG Spark Blog
This piece on TechCrunch.com details why KPMG is investing in startups, and how KPMG Spark's real-time bookkeeping and accounting software helps growing businesses manage cash flow and plan for the future.
When Zach Olson founded SOHO Skatelab in 2006,he hadn’t counted on the mountain of paperwork his St. George, Utah, store would generate. Worse, he hadn’t realized how unhelpful the old-school business software he’d plucked off the shelf would be, as he struggled to make sense of his cash flow, inventory, payroll responsibilities, future tax liability, and all the other financial pain points that come with the privilege of owning a small business. Adding insult to injury, even though Olson worked on a day-to-day basis, his bookkeeping tools only gave him insights into the financial health of his company at the end of the month.
This, Olson strongly believed, was no way to run a business. Determined to spare his fellow entrepreneurs the bookkeeping headaches he’d been forced to endure, in 2013 he founded a cash-basis accounting app called Bookly, which was immediately embraced by legions of small-business founders and CEOs. Almost as quickly, by 2015, Bookly had closed its second round of VC funding, and by the summer of 2018, Bookly had caught the eye of Big Four accounting giant KPMG. Upon acquiring the company, KPMG retained Olson to be Bookly’s Managing Director, renamed it Spark, and continued hiring developers, AI and machine-learning scientists as fast as it could.“This is the first time in history that small to medium-size businesses, startups, whatever, have had genuine access to a Big Four accounting firm,” Zach Olson says. “It took six years of blood, sweat, and tears to get Spark to this place,” he adds, “but Spark is now the accounting solution I wish I would have had back when I was selling skateboards.”
KPMG Spark's online accounting service provides personal customer service to every client. Learn tips on how to make your customer service into a tool for your startup.
KPMG Spark is so proud to be able to work with many amazing businesses and brands. Discover the secret to success in business through our client, Otter Learning.
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Today, KPMG Spark launched a website that shows how CPA firms and accounting practices can gain a competitive advantage by using Spark's online accounting platform. Featuring a savings calculator, demo video and additional information about Spark's technology and service platform, the site demonstrates how KPMG Spark helps CPA firms serve their clients more profitably.
The variety of services offered by KPMG Spark allows our clients to grow, develop, and focus on things that matter most. Our services take the responsibilities of bookkeeping and give you all your necessary financial information at the touch of a button or from a quick call to your dedicated bookkeeper. Our contributions not only help you save time so you can focus on other aspects of your business, but it also gives you the information you need in an efficient, presentable, and tax-ready format.
In an increasingly online world, finding new customers as a small business is essential for growth. It can be difficult to find customers that will use your service or product and stay loyal to your company. Here, we outline ways to find new customers in a competitive online space.
Starting your own business is a daunting task in itself, but by adding in the complexities of finances, bookkeeping, employees, payroll, customer service, and so many more it’s easy to drown yourself in responsibilities. One aspect of the process of starting a business that is crucial to its growth is the use of social media.
Starting a business can be a busy time for any entrepreneur and to some, worrying about bookkeeping can seem like an unnecessary task. But, as intimidating as it may be to have a bookkeeper, there are many benefits to online bookkeeping and a strong accounting platform; and several problems can arise when a business does not keep their bookkeeping up to date.
Picking up the skills of bookkeeping and accounting can be time-consuming and difficult. Understanding the difference can help you focus your spending on what is most necessary, what you can do yourself, and what KPMG Spark can help you with. Here, we’ve laid out the differences between bookkeeping and accounting so you can get back to your business and do the things you enjoy.
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