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December 19, 2024

Cloud Accounting: Revolutionizing Finance

How did a £1 acquisition turn into a global software phenomenon? 💰 Michael Wood, co-founder of Dext and founder of Translucent, shares his entrepreneurial journey – from a bookkeeping headache to a multi-million dollar exit. Get inspired by his insights on leadership, innovation, and building a lasting business legacy.
The Gross Profit Podcast
The Gross Profit Podcast
Cloud Accounting: Revolutionizing Finance
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  • 45 mins
  • 2024-12-19 22:48:45
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Show Notes

Show Notes: Cloud Accounting: Revolutionizing Finance

This week James Kennedy sits down with Michael Wood, the visionary entrepreneur behind Dext (formerly Receipt Bank) and Translucent, to discuss how cloud accounting is transforming the finance industry.

From turning a £1 acquisition into a global software phenomenon to spearheading innovations for multi-entity finance teams, Michael shares his inspiring journey of entrepreneurship, leadership, and legacy-building. Learn how his groundbreaking ideas revolutionized bookkeeping and how his latest venture, Translucent, is addressing the everyday challenges of CFOs and accountants.

What You’ll Learn:

  • The Journey of Dext: How Michael co-founded Dext, disrupted the bookkeeping space, and achieved a multi-million-dollar exit.
  • Innovations in Cloud Accounting: How tools like Translucent are empowering finance teams with real-time insights and automation.
  • Building a Lasting Legacy: Lessons in leadership, innovation, and staying ahead in a competitive industry.
  • Solving Multi-Entity Finance Problems: How Translucent’s CFO super-app simplifies accounting workflows across multiple entities.

Episode Highlights:

  • “Michael, your journey from Dext to Translucent is remarkable. What inspired you to tackle multi-entity finance problems with your new venture?”
  • “You’ve scaled a business from a small acquisition to a global player. What were the key factors that fueled Dext’s growth?”
  • “Cloud accounting has revolutionized bookkeeping. Where do you see the next big opportunities in the finance technology space?”
  • “For aspiring entrepreneurs, what advice would you give on building solutions that truly transform an industry?”

About Michael Wood:

Michael Wood is the founder of Translucent, the CFO super-app designed to streamline multi-entity finance workflows. He previously co-founded Dext (Receipt Bank), a pioneering tool in receipt and invoice scanning used by over 10,000 accounting firms and 1 million SMBs globally.

Michael’s entrepreneurial journey includes leading Dext to a multi-million-pound acquisition by Hg Capital in 2021. Today, he’s revolutionizing cloud accounting once again with Translucent, providing finance teams with a single system of record for real-time insights and automation.

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The Gross Profit Podcast

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