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Microsoft Ditches Hourly Billing for Legal Services

Cloud Accounting Weekly is now Own Your Close, a newsletter for management accountants, controllers,
Own Your Close
Microsoft Ditches Hourly Billing for Legal Services
By Blake Oliver • Issue #53 • View online
Cloud Accounting Weekly is now Own Your Close, a newsletter for management accountants, controllers, and providers of outsourced accounting services. For more accounting technology updates, tune in to the Cloud Accounting Podcast.

Hourly billing has been dying a slow death in the small business community for years — and now a huge corporation is making the move, too. Microsoft plans to shift 90% of their legal work to alternative billing arrangements within 2 years.
David Howard, Microsoft’s deputy general counsel, says that Microsoft “would benefit from moving further away from a transactional model to one that encouraged deeper engagement between our lawyers and key trusted advisers.”
I love this quote because it shows clearly the biggest problem with hourly billing: Knowing that your lawyer/accountant/consultant is always on the clock discourages deeper engagement and collaboration.
When you bill by the hour, you’re discouraging your client from communicating. And if they don’t talk to you on a regular basis, how can you stay on top of what’s going on in their business in order to be a successful advisor?
For this and more of the best links I clicked on last week, keep on scrolling.
Tech Stack
When You Wish Upon an App: We Need Your Input!
Webinar
Tips & Tricks
How to Create a Management Report in Xero
Future of the Profession
The State of Cloud Accounting: Then and Now
Value Pricing
Microsoft Shifts From Paying Outside Lawyers by the Hour
Industry News
AccountingWEB on the Sage-Intacct Acquisition
Sales & Marketing
The Top Five Reasons Accountants Don't Convert Their Sales Proposals
Involving staff and managing your firm’s reputation on social media
Practice Management
Google Spent 2 Years Studying 180 Teams. The Most Successful Ones Shared These 5 Traits
The Single Question that Drives Company Culture
App Updates
Introducing Deputy's Report Builder
Automation
Why the Description Field Is Costing You an Hour Per Month Per Client
Remote Work
How Do You Replace Much-Needed Face Time?
This issue was lovingly crafted by Blake Oliver and Phil Gross. Thanks for reading, and have a great week!
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Blake Oliver

"Cloud Accounting Weekly" is now "Own Your Close," a newsletter for industry accountants, controllers, and providers of outsourced accounting services! Subscribe and stay up-to-date with the latest in technology, new regulations, and management tips.

For additional resources for management accountants, visit https://floqast.com/resources/. FloQast (where I work) is close management software built by accountants for accountants to help them close faster and more accurately.

For accounting technology news and podcast episodes, check out my personal website at http://www.blakeoliver.com.

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