idu Software: April 2019

Tuesday, 9 April 2019




IDU are delighted to be acknowledged as a Leader in the Budgeting and Forecasting category by the prestigious G2 Crowd 2019 Spring Report, published earlier this month.

The report which ranks and compares leading Budgeting, Reporting and Corporate Performance Management (CPM) solutions based on market presence and customer satisfaction ratings was released on the 1st April 2019.

G2 Crowd releases Grid® and Index Reports on a quarterly basis, ranking products based on reviews gathered from their user community, as well as data from online sources and social networks.

idu-Concept has been named a Leader based on receiving a high customer satisfaction score and having a large market presence in the Budgeting and Forecasting category.  Most of our users gave us great feedback and expressed a belief that our company is headed in the right direction, they also indicated that they would be likely to recommend idu-Concept to others. 

 “We are incredibly grateful to our customers once again for taking the time to share their feedback on the G2 Crowd platform. We pride ourselves on delivering the best possible product and user experience to our customers, and these wonderful positive reviews are a testament to that.” Kevin Phillips, CEO, IDU.

We wanted to share some of the amazing feedback we received from our customers in their latest reviews:

“Using idu-Concept has streamlined our overall budgeting process, and allows non-finance staff to access their areas, interrogate costs and understand how they are tracking against budget without having to request reports from Finance or wait for excel workbooks to be updated”

“I cannot (and don't want to) imagine life of budgeting/forecasting/reporting without IDU.”

“IDU is not only a great and easy to use budgeting application, but helps drive day to day ownership of business unit or departmental budgets, cost management, revenue growth and variance reporting by the business unit or department leaders. “

To read the full list of reviews please visit the IDU page on G2 Crowd

Read more about IDU or to schedule a demo of our software visit our website at www.idusoft.com.

About G2 Crowd
G2 Crowd, the world’s leading business solution review platform, leverages more than 440,000 user reviews to drive better purchasing decisions. Business professionals, buyers, investors, and analysts use the site to compare and select the best software and services based on peer reviews and synthesized social data. Every month, more than one million people visit G2 Crowd’s site to gain unique insights. Co-founded by the founder and former executives of SaaS leaders like BigMachines (acquired by Oracle) and SteelBrick (acquired by Salesforce) and backed by more than $45 million in capital, G2 Crowd aims to bring authenticity and transparency to the business marketplace. For more information, go to G2Crowd.com.


Tuesday, 2 April 2019

The money moral panic



Ponzi scheme! South Sea Bubble! Tulip mania! The dotcom bubble! These are some of the dramatic comparisons being made with the rise of cryptocurrencies and the blockchain. But Kevin Phillips has a different view.

There are many reasons why companies like, famously, Kodak and Blockbuster, went bust thanks to being overtaken by their competitors’ innovation. Arrogance, ignorance, being slow to adapt, and analysis paralysis are just some. But I wonder how many also displayed an element of the Shirky Principle? This is named after the digital commentator and writer, Clay Shirky, who said: “Institutions will try to preserve the problem to which they are the solution.”

I’d argue that this principle is driving much of the moral panic around cryptocurrencies from governments, regulators and the financial services industry. To be sure, banks around the world are looking at how they can apply blockchain technology, which underpins cryptocurrencies, internally – but this is a very different beast to the free-range, decentralised blockchain applications driving cryptocurrencies outside of the banking fraternity.

For one thing, the concept of a cryptocurrency casts a spotlight on just how fragile the notion of money really is. The traditional fiat money system, used around the world today, really is a legal fiction. The word “fiat” is Latin for “let it be done” and that is exactly what happens: governments and central banking authorities assign value to an essentially valueless item. It all works because a network of ledgers controlled by banks around the world keeps track of transactions.

But, putting things that way, this sort of sounds quite a lot like cryptocurrencies as well. So why the panic? Well, instead of a central authority, i.e. a bank, holding all the power and validating and recording transactions, any group of people can do this anywhere in the world. And this means that transactions can take place faster, and more cost-effectively.

Good news for anyone transacting, which is a whole lot of us. But not really that great news for banks, who, up until now, enjoyed the opportunity to triple dip every time, for instance my business transfers money around the world. Currently, banks get paid once by me, and then win again on the exchange rate (you always get the worst available), and a third time by when the money vanishes from one account before re-appearing in another several days later… (Where is my interest on that money?)

Of course, consumers need to be protected from fraud, and criminal activity needs to be stopped, as with any monetary system. But as the cryptocurrency space gets regulated and brought into the mainstream, we’d do well to avoid getting sucked into a moral panic manufactured by those that have the most to lose.


Food for thought
We don’t think twice about what happens behind the scenes for transactions to take place: whether we are tapping a credit card, snapping a QR code, approving a bank transfer, or shopping online. We don’t bat an eyelid when we’re halfway around the world, put our card into an ATM, have the correct amount of foreign exchange emerge into our hands, and have our bank accounts debited with the right amount, plus a few charges, obviously. All instantly. Think about it… what is the difference with a cryptocurrency?

As published in ASA Magazine - March 2019