Interesting thread.

From my reading months back, Reckon's legacy product uses Intuit which had a host of issues. Plus that 100m APS sale did not help.

The issue is moving off the legacy platform to the current modern Reckon platform

But being a turnaround story, I believe @Strawman will find this too risky no? Can't recall hearing a positive opinion on a turnaround story such as AMP and Gentrack.

Although I might probably agree here.

Currently reading some broker reports on Factiva that dropped in the last month about Reckon. Looking with a fresh pair of eyes..

Saw a recent podcast where Reckon CEO, Sam Allert, was giving an update on their recent acquisitions.

He’s a good salesman, as he needs to be because the Reckon selling point is lowest price and their marketplace is cost conscious, relatively small businesses where the software knowledge base is on the low end of the scale. Not significantly strong points or ‘moats’.

Yes, I dare say they will pick up some biz because of Xero’s higher price structure which means they must watch their expenditures like a hawk.

Then there is their US based legal docs division. For mine this is still a work in progress.

Conclusion: If this were the Melbourne Cup, RECKON is at the back of the pack as they head into the straight and struggling.

Have you seen his cash bonus incentives @PortfolioPlus ?

Not a business I follow much at all, but I can't for the life of me work out how he gets anywhere near these numbers. Obviously there's a way or he wouldn't have signed up to it. I guess given the bonus is based on dollar value shareholder returns acquisitions are the most obvious path.

https://announcements.asx.com.au/asxpdf/20230804/pdf/05s9xk6rs35nl8.pdf

The fact that the current CEO has been around for more than 5 years and nothing much has happened is holding me back here.

And during that time while Reckon was getting the house in order, Xero has been constantly hitting goals Big opportunity cost.

Checking Linkedin and does not come close to the experience or achievements of Gary Miles.

Think @Strawman exiting might be a good call.

Not sure low cost, low feature and no development is the right path for a software company.

You may get some old cost conscious, luddite accountants but i think most will go with makes their life easier and consumers will want a slick app and features.