Insightful Accountant Publisher Gary DeHart sat down with Plooto's Ryan Rego during the recent 'Xerocon 2022' event in New Orleans. (The following is an edited transcript of their conversation.)
Gary DeHart: Gary DeHart with Insightful Accountants here at the Plooto booth with Brian Rego. Brian, what's been going on?
Ryan Rego: It has been an awesome day. We've had probably hundreds of accounting firms and bookkeepers come by to check us out, see our product, grab a few mugs and T-shirts.
Gary DeHart: Awesome. So what are you doing with Plooto?
Ryan Rego: Our team here is the onboarding team, which I lead. We are there to support accountants and bookkeepers as they bring on new clients. As they get familiar with Plooto, we do demos, help them with any marketing materials they need and really set them up for success on our platform.
Gary DeHart: What is Plooto?
Ryan Rego: Plooto is a payment solution. We live on top of apps like Xero; we pull payables and receivables that are outstanding for small businesses, integrate with bank accounts as well, and then move the money. So checks, wires, ACH transfers, we do all that behind the scenes so accountants don't have to worry about all the grunt work that goes into getting a payment completed.
Gary DeHart: Are you working only with cloud-based general Ledgers or?
Ryan Rego: Yes. We work with Xero and QuickBooks Online or Desktop. Those are our two main accounting integrations.
Gary DeHart: Great. Tell me a little bit about what's in it for accountants working with Plooto.
Ryan Rego: They can build better relationships with their clients. A lot of accountants are moving to cloud accounting, they want a full tech stack, so they use Xero or QuickBooks today. They can recommend this software to their clients. If they're doing a lot of the payment processing themselves, It helps alleviate their stress and pain. If their clients are doing it, it alleviates that for their clients. So the cash flow management of their clients is much better that way.
Then, if they bring on a certain number of clients, they can get some discounts, which gets passed back on them. If they want to manage their own AR those fees get waived and if they have a few clients on Plooto, their subscription fee gets waived.
Gary DeHart: Is there a hard number?
Ryan Rego: It's a minimum of three. We have firms that have hundreds. I'm going to have dozens, but just add a couple, and then you can do your own transactions for free as well.
Gary DeHart: Is that like an official partner program that you have?
Ryan Rego: Yes. Accounting firms and partner programs are on our website. If anyone wants to reach out, we will be happy to talk to you.
Gary DeHart: Is there training you offer as part of that program?
Ryan Rego: Yes. We can do a quick demo with a lot of new firms. Beyond that, we think it's pretty easy to use—we have the training and help videos online. But anytime someone needs some help, or if you have a new client who has a little bit of a niche case or needs a bit more convincing or help getting started, our team is there to make sure you and your client are set you up for success. That way, they're making the most use of their monthly fee.
Gary DeHart: You're based in Canada, but there is no cost working in the US, right?
Ryan Rego: We started in Canada and are based in Toronto. We serve SMEs across Canada in the US. We have been growing in both markets over the last couple of years.
Gary DeHart: If people want more information, where should they go?
Ryan Rego: They can visit plooto.com. To get started, you can create an account and someone will reach out to you to book a demo. We have a contact us form on the website as well or email at partners@plooto.com.
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