How to Choose the Right Data Extraction Tool for Your CPA Firm

4 MIN READ

Jessica Kentch, Founding Partner, Ablaze Collective

As CPA firms increasingly rely on Cloud Accounting Services (CAS) to serve clients and drive growth, harnessing data from sources like QuickBooks Online (QBO) and Xero becomes a cornerstone of success. However, much of this data remains locked behind APIs or siloed across systems. The solution? A reliable data extraction tool.

Data extraction tools automate the process of pulling relevant information from various sources and loading it into a centralized storage solution, such as a data warehouse or lakehouse. These tools fall under the category of E/L (extraction and load) solutions. Popular options include Fivetran, Airbyte, and Stitch.

At Ablaze Collective, we take things further with our proprietary QBO API connector, which mines the entire QBO API—something standard tools like Fivetran and Stitch don’t offer. This capability allows us to provide CPA firms with unmatched access to valuable hidden data.

Here are the key considerations to ensure you choose the right data extraction tool for your CAS practice.

1. Define Your Data Strategy

Before selecting an extraction tool, start by understanding which metrics are stored in your data sources. Tools like QBO and Xero APIs offer access to a wealth of hidden data, but not all of it will be relevant to your firm’s goals.

Rather than extracting everything, focus on what matters most to your operations. For example, if you're providing cash flow forecasting services, prioritize data related to accounts payable and receivable trends. By being selective, you’ll reduce unnecessary costs—especially since many E/L tools charge based on the volume of data synced.

Pro Tip: Think about how data impacts the client journey. What decisions will the data inform, and which teams will rely on it? Answering these questions helps you extract only what adds real value.

2. Evaluate Pre-Built Connectors

Pre-built connectors in tools like Fivetran or Stitch simplify the extraction process, offering seamless integration with widely used platforms such as QBO, Xero, or CRMs like Salesforce. However, these tools often have limitations, such as only accessing a subset of the QBO API.

At Ablaze Collective, our proprietary QBO API connector was designed specifically to mine the entire API. This comprehensive approach unlocks hidden datasets, providing richer insights that standard connectors simply can’t deliver.

When assessing connectors, consider the following:

• Reliability: Popular platforms like QBO are likely to have robust, well-maintained connectors, but they may lack access to deeper data.

• Transfer Speed: Evaluate the speed and latency of data transfers to ensure timely updates for your reports.

• Depth of Access: Look for tools like Ablaze Collective’s connector that go beyond surface-level data to unlock the full potential of your API.

3. Consider Custom Development for Unique Needs

If your CPA firm works with proprietary or less common systems, a custom-built connector might be necessary. For example, some firms serving niche industries may need tailored solutions for integrating specialized financial platforms.

While custom connectors offer flexibility and control, they come with trade-offs. They require significant development and ongoing maintenance, especially as APIs evolve. For most firms, pre-built solutions like Ablaze Collective’s proprietary QBO API connector strike the right balance between depth and efficiency.

4. Factor in Pricing

Pricing models for data extraction tools typically revolve around data consumption—such as the number of rows synced monthly. Being selective about what data to extract can significantly reduce costs.

While standard connectors from providers like Fivetran or Stitch have ongoing subscription fees, these tools are limited in scope, potentially requiring costly workarounds to access deeper insights. Ablaze Collective’s connector provides full access to the QBO API at a fraction of the cost of developing and maintaining a custom solution in-house.

5. Unlock Predictive Analytics Opportunities

The true power of data extraction lies in what it enables: predictive analytics. By mining the entire QBO and Xero APIs, CPA firms can generate insights that drive growth for their CAS offerings. Examples include:

• Cash Flow Forecasting: Identify upcoming cash shortages before they become critical.

• Client Growth Opportunities: Spot clients who might benefit from expanded CAS packages.

• Trend Analysis: Detect industry shifts early and advise clients on proactive strategies.

Ablaze Collective’s solution empowers CPA firms to use predictive analytics to enhance their advisory role, build stronger client relationships, and increase CAS sales.

Conclusion

Choosing the right data extraction tool is a critical decision that impacts your firm’s ability to centralize data, drive CAS sales, and deliver strategic insights. While tools like Fivetran and Stitch may suffice for basic needs, Ablaze Collective’s proprietary QBO API connector offers unparalleled depth, unlocking hidden data that can transform your firm’s operations.

Ready to elevate your CAS practice? Contact Ablaze Collective to learn how our solutions can help your firm harness the full power of QBO and Xero APIs for predictive analytics and beyond.