The shift in recent years in software has been from a product to a service; one-time license to a monthly subscription. Software companies learned that if you sell software as a product to a client, they will use it until they absolutely cannot use it anymore thereby limiting the revenue of that license. With the advent of the “cloud”, the subscription model of accounting has given software companies the ability to host, allow and limit access to the software and da […]
BELOW GROUND
You have little to no engagement with your accounts.
The qualifiers.
- No vendor relationships, you resell retail products
- No differentiation between cost of good and expenses
- You digitally submit and approve time cards
- No collection of sales tax
- Late payments on account (tax return is in arrears, late loan repayments)
Some big (and simple) changes would reshape your position but you’re gonna want to take action pretty quickly.