Why Right Networks’ acquisition of RootWorks may be just what the doctor ordered
With Rick Telberg
The accounting world shifted a little with the acquisition by Right Networks, a cloud-hosting vendor, of RootWorks, a technology platform provider to CPA firms.
Though conceived before the pandemic, the deal was closed as the first wave of Coronavirus was crashing against the shores of the U.S. And it may be a sign of the times under pandemic conditions, as accountants — and, indeed, business in general — race for new technology solutions and business models.
In this exclusive interview with CPA Trendlines, Right Networks CEO Joel Hughes and Rootworks founder Darren Root, explain the reasons for the deal, and their forecast for the future under COVID. Warning: Their forecast for the future under COVID is not pretty.
But the combination of the two companies may augur hold clues to the future of the profession.
Here’s the full transcript, only lightly edited: