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WiFi: QB Connect Password: Connect2017#QBConnect
Chris Hooper – Accodex
What accounting will look like
in 2030
Take a few moments
to Connect with
your neighbour
3
DipBus DipMan Bcom GradDipCA MBA
40 Person firm 4 countries
AAA Most Innovative Firm
CPAPA 20 Under 40
About today’s spe...
2030 Vision
State of the Profession
Action Steps
Q&A
Agenda
2030 Vision
There has never been a better time to be
an accountant than right now.
@ChrisHooper87 #QBConnect
7
Mega trends in accounting
Globalisation
Clients
TechLabour
Labour:
Millennials
Purpose
Gig economy
Aging partners
Client...
8
Natural language processing “chatbots”
Augmented reality
Machine learning
Bitcoin and blockchain
Tech to watch
9
10
11
12
Compliance never going away
Accounting and data science will converge
Data real time, reliable, relevant and remote
Nar...
State of the profession
14
Revenue stable
Margins stable
Revenue mix is changing
8% of firms fully cloud based
State of the profession
0
200,000
4...
15
Expedient decisions pile up
Make sense at the time
Create problems later
Hinder growth and exits
What is management debt
16
Friction between team members
Inefficiency and rework
Unhappy customers
Owner stress and burnout
Symptoms of management...
Management debt is the most high risk
liability in modern companies.
@ChrisHooper87 #QBConnect
Take action
19
Empower others to act
Produce short term wins
Don’t let up
Create a new culture
Create a sense of urgency
Assemble a gu...
20
Steps you can take
Introspection
Find change
agent
Invest in
training Change And beyond
Current technology
Current staf...
Questions?
Missed something?
Today’s presentations are available in the event mobile app
and at http://www.slideshare.com/tag/QBCAU17...
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What Accounting Will Look Like in 2030

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It’s a given that the work that Accounting firms do today will look very different in the future. New technologies are emerging that will allow practitioners to gain efficiencies and uncover insights in ways that are not possible now, and firms will need to adopt very different methods to attract and retain great talent and keep relationships with clients healthy and strong. At the same time, competition will come from all sides and the firms that can deliver services in a way that clients need and want will be the ones that survive. Chris Hooper, The Accounting Futurist, will examine the major trends that are likely to disrupt practices in the next decade, and will identify steps that firm owners of all sizes can take now to ensure their firm not only survives, but thrives in the exciting new world of tomorrow.

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What Accounting Will Look Like in 2030

  1. 1. WiFi: QB Connect Password: Connect2017#QBConnect Chris Hooper – Accodex What accounting will look like in 2030
  2. 2. Take a few moments to Connect with your neighbour
  3. 3. 3 DipBus DipMan Bcom GradDipCA MBA 40 Person firm 4 countries AAA Most Innovative Firm CPAPA 20 Under 40 About today’s speaker Chris Hooper, CEO @ChrisHooper87
  4. 4. 2030 Vision State of the Profession Action Steps Q&A Agenda
  5. 5. 2030 Vision
  6. 6. There has never been a better time to be an accountant than right now. @ChrisHooper87 #QBConnect
  7. 7. 7 Mega trends in accounting Globalisation Clients TechLabour Labour: Millennials Purpose Gig economy Aging partners Clients: Compliance is safe Advisory Similar threats Face time Globalisation: Global clients Global staffing Global transactions Isolationism Technology: Democratisation of BI Lazy and dumb Creative destruction Exponential technology
  8. 8. 8 Natural language processing “chatbots” Augmented reality Machine learning Bitcoin and blockchain Tech to watch
  9. 9. 9
  10. 10. 10
  11. 11. 11
  12. 12. 12 Compliance never going away Accounting and data science will converge Data real time, reliable, relevant and remote Narrow AI will assist accountants Graduates will be client facing from day one Big firms will be highly diversified, small firms highly specialized In 2030
  13. 13. State of the profession
  14. 14. 14 Revenue stable Margins stable Revenue mix is changing 8% of firms fully cloud based State of the profession 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 2011 2012 2013 2014 2015 2016 Median - All Firms - Sum of Revenue per partner Median - All Firms - Sum of Gross profit per partner (BPS) Good Bad Ugly Reports 2011 - 2016
  15. 15. 15 Expedient decisions pile up Make sense at the time Create problems later Hinder growth and exits What is management debt
  16. 16. 16 Friction between team members Inefficiency and rework Unhappy customers Owner stress and burnout Symptoms of management debt
  17. 17. Management debt is the most high risk liability in modern companies. @ChrisHooper87 #QBConnect
  18. 18. Take action
  19. 19. 19 Empower others to act Produce short term wins Don’t let up Create a new culture Create a sense of urgency Assemble a guiding team Develop the change vision Communicate for buy in Kotter’s 8 steps of change management
  20. 20. 20 Steps you can take Introspection Find change agent Invest in training Change And beyond Current technology Current staffing Internally Externally Soft skills Tech skills No servers Revenue mix Automation Innovation
  21. 21. Questions?
  22. 22. Missed something? Today’s presentations are available in the event mobile app and at http://www.slideshare.com/tag/QBCAU17 Don’t forget to rate my session: Open up the event app, find my session title in the agenda and click on rate & review

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