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[Podcast] Dan Luthi of Ignite Spot Shares Outsourced Accounting Best Practices

Topic: Podcast

In this episode of The AI in Accounting Podcast, you will meet Dan Luthi, the Chief Operating Officer of Ignite Spot Accounting Services, an outsourced accounting firm based in Salt Lake City, Utah. Dan has been with Ignite Spot for over 10 years and has risen through the ranks from a part-time job 10-keying transactions into QuickBooks. After falling in love with the CEO’s vision to help small businesses grow and incorporate transparency into their financials, in Dan’s words, he “never wanted to leave.”

Listen to the podcast to learn more about Dan’s perspective on the importance of choosing your tech stack to promote efficiency within your team:

[Podcast] Dan Luthi of Ignite Spot Shares Outsourced Accounting Best Practices

“Tech stack's essential. … Tech stack is one of the most important parts of what we do. I mean, if you aren't utilizing tech stack in some part of what you're doing on a day-to-day basis, you're missing out on a lot of efficiencies that really will cut down on time for yourself and cut down on time for your organization.”

However, Dan acknowledges that the tech stack is not everything. Human resources can be just as essential. In Dan’s words:

“For a long time, I think the big push was, ‘Know your tech stack; know your tech stack; know your tech stack,’ and I think tech stack is a huge part of it. You need to understand your resources and what's available to you. But tech stack doesn't solve everything. Tech stack isn't the only piece. … Having your tools and knowing how to use them is crucial. But I think, a lot of times, people supplement the relationship, and … are essential to a real solid CAS practice, or advisory practice. … In my opinion, you can't just have one without the other.”

In addition, Dan gives some important advice about why finding your niche is so crucial to the continued success of your business:

“In some cases, we need … to find that niche or that vertical … a specific industry that just wows you, that your employees can really get behind, that you can really focus on … and I think … sometimes we try to reach … into so many different areas that we almost lose the connection that we have with our customer base.” 

In this podcast episode, you’ll also learn more about the importance of:

  • Eliminating manual data entry by incorporating an efficient tech stack;
  • Knowing how to combine your tech stack and human resources so that they complement each other;
  • Communicating clearly and effectively with your clients to maintain transparency in their financials; and
  • Keeping yourself up to date with best practices and knowing how to pass that knowledge on to your staff and clients.

Watch the Podcast Interview

 

Watch on YouTube: Client Accounting Services Best Practices with Dan Luthi, Chief Operating Officer, Ignite Spot Accounting Services

 

Listen to the Podcast Interview

 

Listen to Apple Podcasts: Client Accounting Services Best Practices with Dan Luthi, Chief Operating Officer, Ignite Spot Accounting Services

 

A lightly-edited transcript follows below:

 

Joshua Feinberg (00:00):

Hey, it's Joshua Feinberg from the AI in Accounting Podcast, and I have a very special guest and good friend with me here today, Dan Luthi, who's the Chief Operating Officer of Ignite Spot Accounting Services out in Salt Lake City. Thanks, Dan, so much for agreeing to come on the podcast with me today.

 

Dan Luthi (00:19):

Hey. Thank you so much, Joshua, for inviting me. I really appreciate being here.

 

Joshua Feinberg (00:22):

I really appreciate having you here, and I've been fortunate to know you probably going on just about two years or so, now.

 

Dan Luthi (00:29):

Yeah.

 

The Journey to Outsourced Accounting for Small Businesses 

Joshua Feinberg (00:29):

And I've heard about your role and getting involved with Ignite Spot originally, but I think it would be super helpful if you could walk our viewers, walk our listeners through how you originally came to join Ignite Spot. Did you always want to be an accountant? What was your journey that got you there?

 

Dan Luthi (00:45):

Definitely, no. It's definitely a journey, for sure. I've been lucky to be with Ignite Spot for 10 years, just over 10 years now. It's my first experience, really, into accounting, I guess you could say, was working in this firm. 

 

I never thought I was going to be an accountant. I'd always worked in small businesses; I always worked in manufacturing or with my hands in some space, and when I was going to college, I fell in love with the accounting piece and fell in love with working in small business accounting, or small-businesses-type functions, and, as I got into the accounting classes, it just made a whole lot of sense to me, and, as I was going to school, my brother had a friend who was an accountant, or a neighbor who was an accountant, and he asked me to come to his firm and spent a little bit of time with me and gave me some kind of coaching, and recommendations on how to start my career, and one of his big suggestions was, 

 

“Get out and get some solid accounting experience. Start out as a bookkeeper, just get your foot in the door; that's going to be your best gateway to get going,” and so I was able to get my foot in the door, starting working at Ignite Spot and just a part-time job, clicking, 10-keying in transactions into QuickBooks, and I really fell in love with the vision that our CEO had, which was really helping small businesses to grow and getting transparency into their financials and really helping them to understand how they could grow their businesses or understand how their financials could really create transparency and helping to make business decisions—not on monthly, but I know after the fact, but on a weekly basis, or even some cases on a daily basis—and that's just stuck with me ever since that kind of first piece, and I've never wanted to leave, honestly, ever since, and so I kind of just buckled down and stuck with it, and I put in a whole bunch of time, and, because of that, I've been able to be lucky enough to kind of grow into the position I'm in now.

 

Joshua Feinberg (02:43):

Yeah. You have the career longevity of somebody probably from an entire generation ago. You just don't see that so much anymore with a first job, right? In the course of doing these interviews, I do come across it once in a while, but it's way more the exception rather than the rule, where it's your first job out of school; it totally clicks, and with the same company, 10 years or more later. It's terrific that happened for you.

 

Dan Luthi (03:06):

Yeah, definitely. I'm very blessed. I'm very blessed to be able to connect with a company like this, kind of at the start. I mean, they have been in business for about two years when I first got here and to be able to be a part of something that was growing—especially in the cloud accounting space—back then and for us to kind of grow and develop through all that process, it’s been wonderful and growing through all of it right now is just insane. I mean, as well all know, right now is insane just to begin with, but it's awesome, also, at the same point in time, too, to deal with all of it and to be able to grow with it.

 

Joshua Feinberg (03:40):

Yeah. That's got to be crazy valuable, too, to have been in a place of seeing the whole evolution of a small business grow because when you're working with so many small businesses, a lot of accountants and bookkeepers that step into client accounting services and outsourced accounting, they worked in big public accounting firms; some of them worked in private industry. How many of them really had the experience of a startup—literally from almost Day One—to see the evolution and the scaling and be able to totally have that empathy?

 

Small Business Empathy

Dan Luthi (04:09):

Oh, completely. I mean, even before coming here into Ignite Spot, that was my background, as well. I mean, working in small businesses, where it was one or two or three employees and being a part of that and having had to be cut from work crews because of jobs not coming through. 

 

There's a lot of empathy to a small business owner at that point in time, as well, and then coming into an organization that was kind of being not necessarily the first of its kind but really early in the stages of cloud accounting back then and becoming sort of grassroots at that point in time and was really evolutionary in that process and trying to figure that out was complex but also really exciting and being able to be a part of that and have those conversations with clients and having empathy towards them as they're trying to develop new processes and accept software developments and changes in their organization just changes the discussion so much—especially as they're transitioning from either them doing their accounting themselves or having their mom do it, or their wife do it, or their kids help with it or having someone who's been in their office for 30 years who's now retiring and having to transition to having someone do it part-time from across the country. 

 

All of that just ties into that whole experience of us kind of moving through it, and I feel like I can connect a little bit differently in that conversation with them just because of my background, and where I've come from, and how I've been able to connect in that way.

 

Joshua Feinberg (05:37):

Yeah. I feel like there's a good sports analogy hiding in there somewhere. I think about major league baseball, and there are some managers who had very limited professional careers, mostly played in the minors, that have been career managers. But there's also ones that had wildly successful careers, and I follow the team down in South Florida, the Marlins; they've had Don Mattingly as the manager for years, and, knowing his history with the Yankees, what player is going to argue with the credibility of Derek Jeter, or Don Mattingly? But it's sort of the same way: You've walked the walk; you've walked in their shoes, and that's got to be really, really helpful, then, from the relatability standpoint.

 

Dan Luthi (06:14):

100%. I mean, well, I think you can say the exact same thing with the NBA this last little bit, when Steve Nash just got pulled up into a coaching position; everybody's like, "Well, we'd like to have seen some different people hired, but it's Steve Nash." You can't question that. I mean, the guy's been there forever. He was coaching while he was even playing. I mean, it's the same kind of thing. There's just a deeper connection, and I think when you have that type of thought process, and you can bring those types of conversations to clients, when you connect with them in conversation, and when you can share that experience with them—whether it's as a coach, or whether it's just in common, as you're teaching them—and transition of software or bringing a new person in, they understand that, and they connect with that, and it just helps them to feel more comfortable about the transitions they're making. It just makes it that much easier for them, and they don't question it because they know you know where you're coming from, and that process.

 

 

Advice for Getting Started in Outsourced Accounting: Tech Stack + Communications


Joshua Feinberg (07:09):

So, shifting gears a little bit. Most of the viewers and readers for this podcast are CPAs, or bookkeepers, or virtual CFOs. In that context, given your experience with Ignite Spot over the last 10 years, what advice would you offer to someone that's just trying to get a new outsourced accounting business off the ground? Or maybe they've been hired in a traditional accounting firm, and they're trying to get an outsourced accounting team off the ground?

 

Dan Luthi (07:35):

Well, that's a wonderful question. I think there's a couple of things for me that I think about as I go through it. For a long time, I think the big push was, “Know your tech stack; know your tech stack; know your tech stack,” and I think tech stack is a huge part of it. You need to understand your resources, and what's available to you. But tech stack doesn't solve everything. Tech stack isn't the only piece. I mean, having your tools and knowing how to use them is crucial. But I think, a lot of times, people supplement the relationship, and, like we talked about before, that empathy, or that communication—just with the tool, and both of those two pieces together—are essential to a real solid CAS practice, or advisory practice. You really have to use both of those resources completely together to be able to really build that solid foundation going into that space. You have to have both. 

 

In my opinion, you can't just have one without the other. You can have really good solid communication, but if you don't have efficiencies on the other side with your tech stack, you're just going to spend a whole lot of time having good conversations, and then spend a whole lot of time hand-entering in 10-key and a bunch of transactions at night, and you're going to end up swamping yourself and not making profit on the processing side pieces, and so, bringing those two pieces together, I think, are super crucial, and so knowing: 

 

(1) how to utilize the tools and resources, and then also being able to know how to then convert that over into a full-on real conversation with those clients, and how to translate what's happened, and what's happening in those client's worlds and being able to not only relate the story within those financials to them or relate what's happening within those details but also relate: 

 

(2) what's happening in their world today. 

 

You have to be able to tie both of those two pieces together, and all of that information. If not, it just becomes one-sided in that whole process.

 

Joshua Feinberg (09:32):

I keep wondering—given all that, and how much buzz there is in the industry about CAS versus outsourced accounting, and the positioning and packaging of this—are we going to get to the point where most universities are going to realize they need a curriculum around how to succeed in CAS that has those multi-disciplinary facets you're talking about?

 

 

The Role of Colleges in Preparing Graduates for Outsourced Accounting Careers 

Dan Luthi (09:57):

I absolutely love that call-out because I do definitely feel like there is going to come to a point in time where the accounting industry is going to have to make a decision regarding that, and I think the only time that the education system in our country is really going to make that shift is when the AICPA—or, really, when those governing bodies—make that decision to really put the emphasis on the universities, and the colleges, and things from that standpoint to say, "We need you to change this focus," because that’s where that transition comes into place. I mean, it hasn't been that long ago. Of course, for me, I mean, yes—10 years ago, or 12 years ago for me, when I was going to school—but it hasn't been that long, and the emphasis was 100% of the university I went to: 

 

“If you don't go to the Big Four, you don't go to these large local firms.” Ultimately, almost to the point that: “You won't be successful in graduating from this institution,” and I think that's a disservice that a lot of those educational institutions are putting into students that are going through those programs because, to me, they're creating a lot of limitations for this type of practice in this type of space. I feel like they're really putting a lot of limitations on what people can really come out and become. 

 

Financial accounting focus in what we do in the CAS space is very different than what they're prioritizing and focusing on in those classes, and there are so many different things in so many different areas of accounting that they could focus on that could really open up some wonderful opportunities for people, and I'm not saying that tax or audit are bad things at all. It's definitely not my thing, but I definitely think that there's a place for everybody in that space. I mean, I really do, and I think there's a lot of open doors and opportunities for people in those spaces. So, I would absolutely love to see that emphasis being put on, and I think that—really, the AICPA and I really think that—those institutions, those educational institutions, really need to come together and make those separations because it's really not going to make a shift until they really do make the delineation that there is really multiple paths. It's not just, “You either do tax and audit, and so that Big Four, that's where you go, or local regional firms.” There is other things out there that need help and need really good training, and really good teaching in.

 

Joshua Feinberg (12:24):

Yeah. I mean, there's business schools, where you can major in entrepreneurial studies—although it's certainly not that popular—and you can major in accounting; it's almost like somebody needs to draw a Venn diagram that says, “Here, accounting majors, go hang out with the entrepreneurial-studies people for a while or do an internship at a couple of startups, or small businesses, or incubators and start to get a feel for what that's all about.”

 

Dan Luthi (12:46):

Oh, I completely agree. I think that... I mean, there's so much wonderful and great things that can go through. I remember when I was going to school. I mean, I grew up in Utah, so I had the opportunity. We had Skullcandy in our background, in kind of our back door from that standpoint, and they actually came; some of the accounting students came into one of our classes, and they were talking about their experience in the accounting department there—and if people don't know, Skullcandy's a headphone company, which is really exciting and kind of nerdy for a bunch of 25-year-old kids. 

 

Seeing these kids come in—not in white shirts and ties—they're wearing clothes we were wearing when you show up, and that was fun, from that standpoint, and they were talking about how exciting their jobs were, and how much they loved it, and how much they got to connect with the people they worked with, and it was just such a different cultural feel, and how they communicated. That's something that people can get behind, in a lot of cases, and, for some people, it wasn't that stuffy atmosphere that some people look towards, that people are looking for from that standpoint, and that progression piece; it was a different motivation. It was a different focus—and sure, that's private practice, and that's totally cool, too. 

 

But that leads into kind of bridging that gap between that public and private space, which is really kind of into that CAS world, which is providing accounting services right in that middle ground. So, I think there's a lot of middle ground right there that, really, the educational space could really do some deeper development, and I personally was, like, "Yep, that's exactly where I want to be.” So, I got to find the world that fits right between it, and so I've been really blessed to be able to find it.

 

 

Advice for Established Outsourced Accounting Practice Leaders

Joshua Feinberg (14:33):

That's cool. So, the beginner that's starting out should think about their tech stack; they should think about communications. A question that I tend to ask a lot in these interviews, as well, is what would you tell somebody that's been running an outsourced accounting or a CAS team for five, 10 years, and things aren't going so well; they're having a lot of turnover among clients; they're having a lot of churn among their team; they're starting to feel a little bit burned out? What should they be thinking about to recharge the batteries?

 

Dan Luthi (15:00):

Yeah, no, that's a really good question. I think about this actually quite a bit, and I think about it from the standpoint of, sometimes, I feel like we may not know, necessarily, which clients we are serving the absolute best, and sometimes, that may just be that in some cases, we need maybe to find that niche, or that vertical, that may make most absolute sense for us or for our firm to be able to focus on. If you're a 1-5, or a 1-10 personal organization, you may find that there is a specific industry that just wows you, that your employees can really get behind, that you can really focus on, and, in some cases, that may be looking at your marketing, and how your marketing is focusing on from that standpoint, too, and to really determine: Is that really where you should be focusing on and directing your energy towards? 

 

And I think—even from that standpoint, as well—that as accounting firms, sometimes we try to reach so far out beyond maybe even our comfort zone in pieces—meaning into so many different areas—that we almost lose the connection that we have with our customer base, that we start to alienate some of those people as we're going through that process, and so that's where I think we lose some of that connection and overwhelmingness that's being created, and so that, to me, is one of those areas that you can start to look at that and start to determine. So, if you're one of those people who has a marketing plan, and it has a process and has a website, and you're going to regular weekly board meetings in the local area, and things like that, try to determine what it is that you're really focused on. 

 

I mean, if your local community is what matters most to you, and you're really active, and you're really involved in it from that standpoint, maybe that's really the space that you should be considering as the most key area for you, and instead of worrying about marketing in the next town over, or marketing in three states over, really figure out how you can develop that and really develop what needs to be done in that area, and the same thing from your employee standpoint: How do you get them more involved?

 

 Instead of figuring out how just to be really good bookkeepers, do you need to figure out how to grow within services inside that space? Do you know what you need to consider, outside of bookkeeping? What do you need to consider outside of adding in advisory spaces within that you're comfortable with? Adding payroll, or adding different things on top of that? Do you need to add additional trainings to your staff that will help them to grow into controllership or into CFO-type functions? Do you need to bring someone in that you know that's into your community? Or, if you're a nationwide firm, or a global firm, that can help you to be able to extend that market to get that education, or that teaching that needs to be done to be able to expand and get that next level that you're looking for. 

 

But I think it really starts with knowing who it is that you're actually trying to serve and knowing why you're trying to serve those people and make sure that those line up with each other, and then I think the last thing for me is after you kind of look at all of that, make sure it aligns with who you are as a person. I think a lot of times, we start a business, or we get into business, and we have kind of our own core values ourselves as to why we did it, or what we wanted to do, and things just get in the way as we're going through it. The world happens; life happens; craziness at work happens; pandemics happen; PPP happens. 

 

All these different things go on that kind of take us away from those moments, and those things that were the most important, and we forget about the things that really are the reason why we were there and bringing those back and remembering why can get us recentered back to those core things and can get us back focused, and sometimes we have to take a step back to be able to get there again.

 

 

Thinking Strategically About Outsourced Accounting and Client Accounting Services

Joshua Feinberg (18:51):

Yeah, it's a strange thing. So many accountants, bookkeepers, virtual CFOs are the trusted advisor for their clients and giving great advice, and a sounding board for their clients. But at the end of the day, it's like, “Who's the sounding board for them? Who's helping them lead?” In most technology companies, there's a product manager role that thinks about these things all the time, like, “What do our clients need? What should we build next? What are we not giving them that if we don't develop, we're at risk of losing them? How can we add more value?” And, in an accounting firm, these typically aren't hats that people wear.



Dan Luthi (19:22):

Yeah. Oh, no, I completely agree, and I think—especially in small accounting firms—most of the time, there's just really one person making a lot of the decisions regarding those things, and so you're wearing so many hats. It's really hard to know which direction to go when you're making so many decisions all the time, and you have so many people relying on you, and that's where, a lot of times, I think, too, you have to sometimes reach out to your team and just have those really honest conversations and trust in them, too. Sometimes, you don't have to be completely honest from the standpoint of saying, "We're going completely downhill in this space, and if we don't fix this, this is what's going to happen." But sometimes, it's that reality of, “Hey, we've made a mistake. I'm worried about this. How can we fix this?” And trust those people who have been with you for a while because they know what matters, and they know what matters to you, and they know that you matter to them, as well, and they know that they matter to you, and so when you guys can come together and make those decisions, it really helps to kind of turn around that focus and get right back on track.

 

Joshua Feinberg (20:27):

With that in mind, another area I wanted to ask you about today is when you onboard a new client, do you tend to see any patterns or mistakes that you wish were done differently—regardless of whether it's a client that's coming from doing accounting and bookkeeping in-house work or coming from an accounting firm?

 

 

Common Small Business Accounting Issues Discovered When Onboarding New Clients


Dan Luthi (20:49):

Oh, that's a good question. Any sort of onboarding pieces is always unique. I mean, when it comes to onboarding, clients or accounting firms do things different from that standpoint—not to say that one accounting firm does it wrong, in comparison to others. Accounting is accounting is accounting, I guess you could say. I mean, it's not black and white, I guess you could say, from that standpoint. 

 

I mean, yes, you can only reconcile a bank account one way in QuickBooks, and what I mean by that is, yeah, I guess there's multiple ways because you could go line-by-line and click each reconciliation. You don't have to go through the reconciliation window, but that being said, too, there is a lot of things that you can consider doing differently, regarding journal entries, and all that kind of stuff and moving through that process. O

 

ne thing I like to consider as a part of that process is instead of us just running and gunning, when we jump into a cleanup project, or a review, or something like that, when we transition a client over is trying just to understand what may have been done before, and I think that's one of the hardest parts about someone new on our team, or someone who's been with us for the last year, maybe two years is sometimes, we just come in, and we're trying to just get the system going and try to get the client cleaned up or trying to get them onboard as quick as we can that sometimes, it takes a little bit to figure out what the last person did, and how they went about going through it, and so that's always the part that's the hardest because there is so many ways in software, sometimes, to do things and to create transactions that you have to kind of figure out how to unravel—not unravel how they did accounting but unravel how the software allowed them to do accounting—and so I think that honestly is probably the most difficult part of figuring out how to get them into your system, and so I think that would be, probably, for me, the most difficult transition piece in dealing with any kind of client onboarding or working through it is just working through that. 

 

But other than that, I think, for me, the most important part of the transition with a client is any client who's moving from another accountant, or who is coming to you and trying to outsource at that point in time, they just want help—whether it was a hard transition, or whether something happened to that person—they just want someone to be there for them, and so that's really your main job, right? It’s just to be there for them. It's not to talk bad about the last person who left or to destroy them, or anything like that. It's just to be there to make sure that they have a good experience and help them through it and to do it as quickly as you can because they don't want to worry about what happened before. They just want to make sure they get good information as quickly as possible, and so our job is to do that as best as we can and as quickly as we can.



 

Where Outsourced Accounting is Headed Next

Joshua Feinberg (23:48):

That's a great approach. The final area that I want to ask you about today is your thoughts on where we're headed next. Where is the outsourced accounting business model, the client accounting services business model headed next—especially, is there something that you see going on right now, where we're going to look back, 12, 18, 24 months from now and say, “That was an enormous inflection point in where the whole business is going”?

 

Dan Luthi (24:12):

That's a really good question. That's a million-dollar question, right? I mean, that's the question; that's the secret sauce that we're all looking to devise. No, I think 12 months ago, 18 months ago, it was the thing that really changed everybody or made some businesses different than everybody was—advisory—and I still think that there's a lot of room for that over the next 12-18 months, and I think the big piece of that is the different types of advisory, honestly, that are available, and I think that's one of the pieces, in my opinion, that's going to make firms different. Advisory, to me, is not just having a financial call and communicating, regarding what's going on. It's not just a cashflow report, and an analysis of what's happening. It's more in-depth and more beyond that. For some businesses, it is a full end-to-end software advancement and development, and a move from an archaic Excel system, or manual paper process for them of drivers dropping off tickets as they’re finishing the deliveries for the day. 

 

Transitioning over to an iPad electronic system and scanning and moving through the things from that standpoint so that they can complete orders and pick lists on a day-by-day moment-by-moment basis. For some people, it's actually being able to give full financial metrics to their business owners and to their salespeople on a day-by-day basis or fully implementing inventory systems so that, in 15 warehouses, you can know what's going on, and for other people, it's helping those small business owners to know what their cash is today or being able to forecast where they're expected to be over the next six, 12-18 months so that their business can be viable—specifically, right now. I think one of the biggest concerns that small businesses in America specifically have is the economic downturn because of COVID has created a huge amount of concern for small businesses, and what they've put their livelihood into. It's not necessarily for the fact of, “Are we going to get through this?”, because some of them feel like they're on the upturn of what's going on with it. 

 

But, “How do we make sure that if this happens again, or if we don't get out of this in the next 6-12 months, how do I make sure that I survive the next round of this, and how do I make sure that, in 6-12 months, and then in five years after that, I actually have something leftover to provide to my kids and to all those employees that I have to make sure that there's opportunities for them?”, and so it's not just going to be about financial forecasting. It's not just going to be about creating operational systems and solutions. It's going to be about this whole software-suite package-solution financial development, that is really creating a whole operational life for them, and financial life for them. 

 

That really helps them to be able to make good smart financial business decisions that help them all the way to retirement. From the moment that the first piece of paper hits their desk or from that first moment that someone walks into their door to buy that donut, or whatever it is that happens, to the day they decide to retire and being able to walk into that condo that they have on the beach, or whatever it is, and go into that whole space. I think that's really where, in my mind, the shift needs to be, and what our focus needs to be as advisors and in that space, and making sure that we're connecting with that mindset and space, that it's not just that we're doing one part, but that we're helping to navigate all of those parts, and not that we have to be the experts in them, but that at least we know how to be a part of the right cogs, and the right gears in that system, to be able to help them, to be able to navigate that.

 

Joshua Feinberg (28:07):

What’s been fascinating to me to watch over the last couple of years is how technology-centric your role has become because it's getting to the point where 10, 15 years ago, this would have been a technology-consulting-management-service-provider-integrator kind of conversation, and part of it is the consumerization of IT, part of it is SaaS, part of it is cloud accounting. But it's clear that for anyone that's in accounting, that's not planning on retiring eminently, that tech stack is a big part of the responsibility.

 

 

The Role of the Tech Stack in Outsourced Accounting 

Dan Luthi (28:42):
Yeah, completely. I mean, tech stack's essential. I mean, it really is. Like I mentioned before, it's not the end-all-be-all, but, I mean, the tech stack is one of the most important parts of what we do. I mean, if you aren't utilizing tech stack in some part of what you're doing on a day-to-day basis, you're missing out on a lot of efficiency that really will cut down on time for yourself and cut down on time for your organization.

 

Joshua Feinberg (29:09):

Dan, this has been super helpful. If somebody wants to learn more about Ignite Spot, if somebody wants to connect with you, what's the best way for them to learn more about your team, your firm, and perhaps reach out to you with any questions or comments?

 

Dan Luthi (29:22):

Yeah. Best way for our firm is just www.ignitespot.com, and then for myself, I'm just on Twitter @Dan Luthi; that's the easiest way to follow me there, or I'm on LinkedIn (Dan Luthi), as well. But yeah, I really appreciate you inviting me on today, Joshua. It was really wonderful to talk about this stuff.

 

Joshua Feinberg (29:42):

I really appreciate you coming on the podcast, as well. It's been super helpful. Wealth of information around what got your career kick-started, and advice about what the whole business needs to change into, what kind of career education needs to be in place, advice for people that are losing their way, helping them get back on track, and the thought process around taking over new accounts, and the increasing importance of not just technology, but advisory services. So, it's been terrific. I wish you all the best, and another 10 years of success in taking Ignite Spot to the next level.

 

Dan Luthi (30:16):

I appreciate it. Thank you so much. Same to you.

 

Joshua Feinberg (30:17):

Thank you.






What's your favorite Client Accounting Services tip? And what did you find most valuable from Dan Luthi's podcast interview? Let us know in the Comments section below.

 

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