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Keynote Kevin Robert, the future of accountancy

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Keynote Kevin Robert, the future of accountancy, on the Twinfield National Accountancydag 2012 in Utrecht

Keynote Kevin Robert, the future of accountancy, on the Twinfield National Accountancydag 2012 in Utrecht

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  • 1. The Future Ready Firm CEO Kevin Robert Twitteren over de NAD? #nad
  • 2. Wolters Kluwer Tax & Accounting: Global Presence• World’s largest provider of tax, accounting and audit solutions• Content from more jurisdictions than any other provider• Leveraging global platforms, delivering customized solutions• Collaborative, cloud solutions a top priority worldwide Europe North America Asia Pac 2
  • 3. The Future Ready Firm • Has strong foundational competencies and follows best practices • Continuously evolves and improves
  • 4. Maslow’s Hierarchy of Human Needs SELF-ACTUALIZATION Morality, Creativity, Problem Solving ESTEEM NEEDS Self-esteem, Confidence, Recognition SOCIAL NEEDS s ed ne Family, Friendship, Bonding SAFETY NEEDS Resources, Security, Protection PHYSICAL NEEDS Food, Water, Air
  • 5. Hierarchy of Accounting Firm Needs MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS ne BUILDING A DIGITAL INFRASTRUCTURE CORE TECHNICAL KNOWLEDGE AND EXPERTISE
  • 6. Accounting Firm Needs:Core Technical Knowledge and Expertise MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS ne BUILDING A DIGITAL INFRASTRUCTURE CORE TECHNICAL KNOWLEDGE AND EXPERTISE
  • 7. Technical Knowledge and Expertise• The most fundamental: Technical knowledge, professional competence, expertise, information• You come into the profession with it, and build on throughout your career• Supported by: – Professional development: Continuous learning, client knowledge, networking – Vendor-provided research information and software
  • 8. Accounting Firm Needs:Building a Digital Infrastructure MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS ne CORE TECHNICAL KNOWLEDGE AND EXPERTISE
  • 9. Digital Infrastructure• The framework: Environment in which you work• Created based on external forces and internal needs – Changing expectations of employees and clients who live in a digital world – Need to do more with less – Need to work in more secure and more open environment – Need to realize new opportunities and new efficiencies
  • 10. Accounting Firm Needs:Standardize Processes and Workstreams MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS ne BUILDING A DIGITAL INFRASTRUCTURE CORE TECHNICAL KNOWLEDGE AND EXPERTISE
  • 11. Standardize Processes and Workstreams• Takes benefits of digitized office to next level• Dynamic Connectivity: Focus on functions, not just tasks – What happens before and after key activities? What are gaps between tasks?• Business standardization key to many industries• Key driver of success for you – Efficiency – Value billing
  • 12. Accounting Firm Needs:Connecting and Collaborating MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS ne BUILDING A DIGITAL INFRASTRUCTURE CORE TECHNICAL KNOWLEDGE AND EXPERTISE
  • 13. Connecting and Collaborating• Clients… – Expect you to be great at connecting with them and connecting information, knowledge and people within your firm – Want service anytime, anywhere• Employees… – Best and brightest want to work someplace interesting – Want to work collaboratively – Want work-life balance – Are mobile
  • 14. The Critical Importance of Connectingand Collaborating
  • 15. Connecting and Collaborating• “Technology has exhausted the limits• of the PC as a platform…• …the future will center on mobile devices”• - Eric Schmidt, Google Chairman
  • 16. 5 billionSmartphone sales growSmartphone sales grow mobile subscriptions by 56% to 470 million 77% Tablet sales will grow by 400% to 70 million of world population
  • 17. WorkshiftingWhere you want, when you want
  • 18. 38% of mobile workers work before their commute
  • 19. 25% work during their commute
  • 20. 37% work at night
  • 21. 69% work on vacation
  • 22. 75% work more hours per week
  • 23. 79%work moreproductively
  • 24. 64% live more balanced lives
  • 25. New Technologies Enable Mobility andConnectivity Mobile devices Portals Knowledge Management Systems
  • 26. How professionals and “Technology has exhausted the limits of the PC as a platform… their clients work Where they work …the future will center on mobile devices” The way they work - Eric Schmidt, Google Chairman How they live
  • 27. Twinfield Solutions Enabling Collaborationand Connectivity
  • 28. The Future Ready Firm:Key Survey Findings
  • 29. Future Ready Firms:Mobile Technology Applications E-mail and contacts 93% 81%Scheduling/Calendar 83% 84% Access practice 30% management info 55% Access tax research 39% Tax Audit
  • 30. Future Ready Firms:Mobile Deployment Within 3 Years Mobile device 54%deployment overall 68%Mobile deployment 82% among large firms 91% Tax Audit
  • 31. CCH MobileAnswers When and Where You Need Them
  • 32. IntelliConnect TMFrom product platform to enabling the future
  • 33. New MobileApplications:Tax NewsHighlights App
  • 34. New MobileApplications:Quick Find POCAllows users to quicklysearch specificdatabases and highlyvalued research contentOffering customizablemobile portlets forinstant access toIntelliConnect
  • 35. Future Ready Firms:Electronic Portal Usage Within 3 Years Electronic portals 74% usage 82% Tax Audit
  • 36. Balance Sheets 1040 Etc. Income Balance Stmts. Sheets1040 Income Stmts. ProSystem fx Portal Etc. 95.4 million hits Firms Clients
  • 37. 95.4 million hits
  • 38. Accounting Firm Needs:Managing Knowledge Flows MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS ne BUILDING A DIGITAL INFRASTRUCTURE CORE TECHNICAL KNOWLEDGE AND EXPERTISE
  • 39. Managing Knowledge Flows Knowledge workers spend 15-35% of their time looking for information… …40% of the time they don’t find it.
  • 40. Future Ready Firms: Knowledge Management Importance and Use A knowledge management system is important in 53% supporting my tax/audit process 68%Have a knowledge managementprocess that includes managing firm’s information assets to 36% improve decision-making & 54% employee productivity Tax Audit
  • 41. Is Your Firm Future Ready?
  • 42. Is Your Firm Future Ready? MANAGING KNOWLEDGE FLOWS CONNECTING AND COLLABORATING STANDARDIZING PROCESSES s ed AND WORKSTREAMS neContinuous impro BUILDING A DIGITAL INFRASTRUCTURE CORE TECHNICAL KNOWLEDGE AND EXPERTISE Core competencies and best practices
  • 43. The Future is Connected
  • 44. Thank You Kevin Robert Wolters Kluwer Tax & Accounting CEO kevin.robert@wolterskluwer.com +1.847.267.7070