In the News - July 28, 2022

Do you keep up with the news and updates that affect you as an accountant or bookkeeper? You probably don't have the time to do all of the reading it would take, so here is information from the past week - all in one place.

CoralTree, creator of innovative practice management collaboration tools such as Qbox, recently announced the newest add-ons to CoraLegal. These two new product features increase productivity and modernize operations:

• eSignatures - eSignature templates are available for standard documents; provides an audit trail including IP address, date and time
• Notary - firms may invite Notary Publics to join their CoraLegal accounts, allowing the notary to use eSignature to notarize documents; notaries get their own free CoraLegal accounts to maintain their electronic notary journal

CoraLegal allows users to securely share legal documents like contracts, agreements, wills, trusts, and other similar legal documents online. Users are able to work internally until they are ready to share documents with clients. With file lock, edit documents in the cloud. Up to 20 versions of the files are kept by CoraLegal so documents can be rolled back if needed for edits or to correct mistakes.

Routable has announced their new Cross-Border Payments® solution. Cross-Border Payments® enables businesses to easily onboard thousands of new vendors and contractors and pay their suppliers and subcontractors in the growing global network in more than 220 countries. 

Highlights of Routable's comprehensive Cross-Border Payments® include:

• Simplified global payouts – An intuitive and automated solution for both your domestic and global payouts, eliminating the need for multiple payment systems and complicated workflows.
• Complete global coverage – Send money to over 220 countries and territories with flexible payment options including International ACH and SWIFT, speeds, and currencies while maintaining full visibility into each payment.
• Built to support your teams – Deliver the ideal payouts experience for your finance, operations, and engineering teams with multiple options including handling payouts straight from your dashboard, or using a no-code CSV upload feature or build the ultimate payouts experience with a REST API.
• Real-time two-way sync into accounting software – Routable handles syncing your bill and payment details so customers can focus on global expansion. Integration into Netsuite is available now, with more coming soon.
• Transform your onboarding process – Onboard your vendors globally straight from your dashboard in seconds.

Shopify, a company that we have posted positive news about recently, unfortunately had some negative news this week. On Tuesday (7/26/22), Shopify CEO Tobi Lutke announced in a blog post that the company would be laying off about 10% of its global workforce, approximately 1,000 people. On Wednesday (7/27), the company announced a 2nd quarter loss of $1.2 billion.

Zoho, providers of Zoho Books and 45+ applications, recently announced powerful growth. Year over year growth of 38% was led by the company's commitment to innovation, which also led to the company hitting 80 million global users! Earlier this month, Zoho reacted quickly to announce it would continue serving businesses in India when Intuit announced that QuickBooks would no longer be available in India. 

The 4 Day Week Global United States pilot program deadline is approaching. Following a first North American round earlier this year when 40 companies began a six-month coordinated trial, registration is again open to US businesses, but the deadline is August 1st. 

Based on the 100-80-100 ruleTM of 100 percent pay, 80 percent time, and 100 percent output, businesses from a wide range of industries around the globe have seen that rule play out. Businesses that sign up to participate in the US pilot program will receive a bundle of support, including access to training, mentoring, networking, and research. Prior to the planned trial start date of October 3rd, 4 Day Week Global will start rolling pre-trial services and workshops to get businesses trial ready. Interested? Learn more here!