KPMG Spark Blog
TechCrunch: Why big four accounting firm KPMG is betting on technology and startups
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.”
Continue reading the full sponsored content at TechCrunch.com.
Subscribe
Sign up for our newsletter
The Hidden Costs of Doing Your Own Bookkeeping
You may view doing your company’s bookkeeping as a point of pride, or simply as a way to save money. But there are many costs associated with “do-it-yourself” bookkeeping that business owners often overlook. Join us to see how outsourcing your bookkeeping can help you and your business.
4 Benefits of Choosing KPMG Spark for Your Bookkeeping
Entrepreneurs often start out trying to do their own bookkeeping but quickly realize they need a bookkeeping solution that not only makes it easy, but also one that addresses their evolving business needs — such as managing cash flow as their business grows. Let's take a closer look at how KPMG Spark can help your business.
Managing Cash Flow in 2021
The insight provided by an updated, thorough examination of upcoming cash flows can help business owners make more informed decisions and best leverage the cash they’re generating. Let’s look more closely at some leading practices for generating a cash-flow projection and how it can help your business.
Embracing Managed Accounting: 4 Ways to Inspire Your Employees When Switching Bookkeeping Platforms
Getting employees on board with change can be challenging – even if everyone involved knows it’s for the better. This was at the forefront of our minds when we first created KPMG Spark.
KPMG Spark launches Spark 1.1
KPMG Spark is always listening to small business owners to learn more about the resources and tools they need to help their businesses succeed. The Spark team listened to what our clients had to say and recently launched KPMG Spark version 1.1.
Member Spotlight: How Hoban Optometry is Scaling Smart with Managed Accounting
With organized, real-time accounting, a complete picture of critical financial data, and expert recommendations from a trained professional, the Hobans can continue to provide care to every patient while creating a robust and sustainable business for decades to come.
4 tips for managing business cash flow
Maintaining a healthy business cash flow is one of the most important building blocks for any business to achieve meaningful growth. Join us so you can scale your business and make big purchases with confidence.
KPMG Spark launches Tax Tips blog section to help small business owners
To alleviate tax season stress, KPMG Spark has launched a Tax Tips blog, specifically designed to give small business owners an easy place to find crucial information and deadlines.
Automating your business tax system
Doing your own taxes can seem like the optimal solution, but we can become our own stumbling blocks when dealing with important financial information. Join us to see the benefits of implementing an automated tax system through online solutions.