The Future of IT for Accountants
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An explanation of some standard technology adoption models and some trends accountants should be tracking.
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The Future of IT for Accountants
- 1. The Future of IT for Accountants Joe Drumgoole VP Solutions FeedHenry http://twitter.com/jdrumgoole
- 2. What do Accountants Do? Setup Advice CRO Planning Filings Book Budgets Keeping Payroll Audits VAT 26/11/2011 Joe Drumgoole 2
- 3. What do Accountants do with IT • Accounting Packages • Email • Storage • Document Management • Microsoft Excel and Word Accountants are conservative in their IT choices 26/11/2011 Joe Drumgoole 3
- 4. An IT Adoption Model 26/11/2011 Joe Drumgoole 4
- 5. Another IT Adoption Model 26/11/2011 Joe Drumgoole 5
- 6. Could There be a Relationship? 26/11/2011 Joe Drumgoole 6
- 7. This Is Not Continuous for All Products Vista Newton MySpace 26/11/2011 Joe Drumgoole 7
- 8. Clayton Christensen: The Innovators Dilemma Better/Expensive Cheaper/Worse • Office • Google Docs – Writing any kind of doc – Collaboration • Digital Cameras • Phone Cameras – Take professional photos – Take a photo and publish • Laptops • Tablets – Run all your MS software – Carry anywhere 26/11/2011 Joe Drumgoole 8
- 9. Some Global IT Trends • Open Source • SaaS • Big Data • Analytics • Cloud Computing • Mobile 26/11/2011 Joe Drumgoole 9
- 10. Open Source • IP should be free • Free as in speech not free as in beer • Underpinnings of all SaaS services • LAMP Stack: Linux, Apache, MySQL, Perl • Top Open Source packages today : ERP • Open source makes convenience the value proposition 26/11/2011 Joe Drumgoole 10
- 11. SaaS: Why Should I Care? • Cheaper • No CAPEX • Free to trial • Adjust to your demands • As easy to turn off as to turn on 26/11/2011 Joe Drumgoole 11
- 12. Services You Can Use Today • GoDaddy: Domain registration • Wordpress : Website • Crashplan : PC Backup • Google Apps: Email, Docs, Calendar, Intranet • 99Designs: Graphics Design • FreeAgentCentral: Book keeping, Accounts • Paypal : Credit card payments 26/11/2011 Joe Drumgoole 12
- 13. Big Data • Keep every document forever • Searchable • Accessible • Safe • Shareable • Is my financial plan utter pants? • Can you play in that playground? • TAS Books: Where Data goes to die! 26/11/2011 Joe Drumgoole 13
- 14. Analytics • What does it all mean? • Need understanding • Visualisation • Real-time • The end of monthly postings • Mobile visibility of my cash position • Notification of transactions in real-time 26/11/2011 Joe Drumgoole 14
- 15. Cloud Computing • The underpinnings • Infinite Storage • Infinite Compute • Everlasting • SaaS : Online Services • Paas : A platform for building online services • IaaS : Build blocks for all the software in the world 26/11/2011 Joe Drumgoole 15
- 16. Smartphones : 40% Penetration in US PIM Optical Touch Systems Screen Location Apps Internet
- 17. Apps : 15 billion downloaded Personal Productivity Social Mobile Networking Workforce Entertainment Apps Health
- 18. Its Big 26/11/2011 Joe Drumgoole 18
- 19. The Accountant of the Future • Client does all postings via an App or website • No Rekeying (source of 80% of errors) • Reconciliation is exception based • Real time accounting dashboard • Shared views of Single Master Accounts • Infinite longitudinal record • The accountant as analyst • The accountant at the centre of his own social network of clients 26/11/2011 Joe Drumgoole 19
- 20. Thank You 26/11/2011 Joe Drumgoole 20
Editor's Notes
- Take about what accountants do with IT. Dicuss some models for understanding IT adoption. Make some easy choices.
- This is a good thing.Giving you tools to think about your IT choices.
- Beware the danger of dimensionless graphs.All the bad news is on the left. Lots of hype, small amounts of adoption. Very early failures. To wit Java 1.0.
- The peak is where to sell overpriced companies. E.g. Groupon, MySpace.Also not dimensioned the same for all products. Even for a supposed success like iPod we are talking 5 years. Real technology adoption periods are more like 5-10 years.
- Instead of ignore new technology. Think : what is its difference vector/utility function? How is it meant to be better.The saturation of utility.
- Trends you should care about. Are climbing up the plateau of productivity.
- Who is going to be the first accountancy aggregator?On of the previous companies will let you do this soon
- Also NFC, bluetooth, WIFIAppsLocationOpticalSystemsPIMNavigationInternetInteractionHigh Resolution Optical SystemsAugmented RealityVideo ConferencingHD RecordingPIMContactsEmailSMSMusicPhotosVideoInternetData PackagesMobile BrowsersInteractionCapacitive Touch ScreensVoice InputSwypeApps
- There is an app for everything.