presented by
Gregory L. LaFollette, CPA.CITP, CGMA
Strategic Advisor
Disruptive Technologies
Catch the Wave
Gregory L. LaFollette, CPA, CITP, CGMA
Semi-retired Vice President of product strategy – CPA2Biz
Now ―Strategic Advisor‖
A...
Who We Are
Disruption & CPA’s
Significant Areas of Change
Agenda
Who we Are
About CPA2Biz
 AICPA subsidiary, Formed in 2001
 Markets all AICPA products and services, manages AICPA affinity program...
Overarching Principle
We are the leader in guiding the profession’s
migration to the cloud through change
management, busi...
Templosion
tem·plo·sion [tem-sploh-zhuhn] noun
It’s a TEMPLOSION
“It’s a VUCA world – Volatile, Uncertain, Complex, and Ambiguous …
the answer to rapid changes and hyper...
It’s a TEMPLOSION
“It’s a VUCA world – Volatile, Uncertain, Complex, and Ambiguous
… the answer to rapid changes and hyper...
A Note on Predictions
“It's tough to make predictions, especially
about the future.” ― Yogi Berra
Our near term
view is always
unclear.
• “Inside the
Tornado”
• “Tipping Point”,
• “Crossing the
Chasm”
My overlay from 1993
Disintermediation
Disintermediation
Removing the middleman -- a popular
buzzword used to describe how Internet-based
businesses are using cl...
Trends to Discuss
Some Trends to Discuss
1. Cloud Storage
2. Broadcast TV / Cable TV
3. 3D Printing
4. Peer-to-peer lending
5. Restaurants
6...
Cloud Storage
Dropbox™
What It Is:
Online document, image, and
video storage
What It Does:
Lets you bring your photos, docs,
and videos ...
Dropbox™
How You Might Use It:
• Store important documents
online for easy access.
• Collaborate with others for
edits and...
Dropbox
Dropbox
Dropbox
Website
SD Office
Desktop
MacBook
Air
Home
Office
MacBook
Pro
NY Office
Desktop
iPad
Galaxy 4
All
Files
So...
Dropbox™
Learn more: www.dropbox.com
Platforms: iPhone®, iPad ®,
Android™, Blackberry®, Kindle
Fire®
Multi-factor authentication
Who you are (biometrics)
What you know (user ID, passwords)
What you have (dongle / phone)
To ...
Password Technique
• Select and memorize an 8 character nonsense string
including upper and lower case letters, numerals, ...
Result
Password Management Tools
• Keeper
• Dashlane
• LastPass
• oneSafe
• SplashID Safe
• Norton Identity Safe
• Password Genie...
Television
Say Good-bye to Cable TV
Barry Diller’s Aereo TV
Barry Diller’s Aereo TV
$8 / month for CBS, NBC, ABC, FOX, PBS
>150,000 subscribers in NYC
Sold out in Atlanta
Directly to...
• First in was all fun and games
• Then it started to get serious
• Graphene will take it to the next level
• Already prin...
Graphene
• Graphene is amazing!
• Made from a layer of carbon one-atom thick
• Strongest material in the world
• Completel...
MakerBot
Replicator Mini -- $1,375
$949
XYZprinting
Davinci 1 -- $499
Forecast World wide sales >
2.2M
Projections for 3D Printing
• Significant patent expirations in mid-2014
• Chinese manufacturers involved
• Technology has...
Peer Lending
Technology is the easy part
• Kiva (non-profit)
• > 1 million lenders
• > $500,000,000 in loans
• 99.01% Repa...
Crowdfunding Grows Up
• 2012‟s JOBS Act, allows companies to raise up to $1 million in a
12-month period
• From ―accredite...
What it means
• Role of banks?
• Role of CPA’s as credit advisors?
• Financial statements?
• Benchmarking and analysis?
• ...
Disruptive
Technologies
Transparency
Provider
CustomerTechnology
Disruptive Technologies
GrubHub /
Seamless®
What It Is:
Food delivery service
What It Does:
Aggregates menus of restaurants
that provide delivery ...
How You Might Use It:
• Order food delivery at your
home, office, or hotel.
• See each restaurants‟ menu
and customer rati...
Learn more: www.seamless.com
Platforms: iPhone®, iPad®,
Windows®, Android ™, Web app
Cost: Free
GrubHub /
Seamless®
25,000...
DISRUPTION:
Sit-down restaurants
OPPORTUNITY:
Del-co food outlets
Services for “nesters”
GrubHub /
Seamless®
AirBnB®
What It Is:
Short term room rental founded in
2008 as “couch surfing”
What It Does:
Provides intermediary service
...
AirBnB®
Current VC value!
How You Might Use It:
• Host extra space, vacation
home, apartments, etc.
• Rent space almost anywhere
in the world.
• See...
Learn more: www.airbnb.com
Platforms: iPhone®, iPad®,
Blackberry®, Windows®,
Android ™, Web app
Cost: Free
AirBnB®
AirBnB®
DISRUPTION:
Traditional hoteliers
Municipal tax collectors
OPPORTUNITY:
Micro-landlords
Travelers
Cars
So what changes?
• First – rental cars
• Started with ZipCar – sold to Avis/Budget
• Then GroundLink for limos
• Now the t...
Uber®
What It Is:
Car and taxi service
What It Does:
Provides intermediary
service between car and
taxi owners / operators...
Why Use It:
• Almost-on-demand black car or
taxi service.
• Cheaper than traditional black
car service.
• See each car‟s e...
Learn more: www.uber.com
Platforms: iPhone®, iPad®,
Blackberry®, Windows®,
Android ™
Cost: Free
Uber®
And here comes the competition!
Uber®
DISRUPTION:
Existing taxi / limo companies
Municipal tax collectors
OPPORTUNITY:
Part time drivers (Google financed)...
Enter Google
Driverless Cars
• We already have ―assisted‖ driving
• Auto parking
• Lane monitoring
• Adaptive cruise
• Emergency brakin...
• Nevada, California, Florida, Michigan and Washington
DC now allow licensing and operating autonomous
vehicles on public ...
1. Technology enables
massive competition
2. Centralized regulation
disappears
3. Fewer cars?
4. Fewer parking lots
5. Les...
Thank You!!!
Disruptive technologies 2014  - How CPAs Can Be Better Prepared to Advise Their Clients
Disruptive technologies 2014  - How CPAs Can Be Better Prepared to Advise Their Clients
Disruptive technologies 2014  - How CPAs Can Be Better Prepared to Advise Their Clients
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Disruptive technologies 2014 - How CPAs Can Be Better Prepared to Advise Their Clients

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This presentation examines the multitude of disruptive technologies that are destroying some CPA's clients' traditional business models. Trusted advisors need understanding of the threats and be ready to help your clients. You'll be amazed (and probably troubled) as we discuss today's buggy whip manufacturers.

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  • Disruptive technologies 2014 - How CPAs Can Be Better Prepared to Advise Their Clients

    1. 1. presented by Gregory L. LaFollette, CPA.CITP, CGMA Strategic Advisor Disruptive Technologies Catch the Wave
    2. 2. Gregory L. LaFollette, CPA, CITP, CGMA Semi-retired Vice President of product strategy – CPA2Biz Now ―Strategic Advisor‖ Author, Speaker, Thought-leader, Accounting Technology Hall of Fame Member Prior • Eide Bailly, LLP – Senior Manager, Tax and Technology Consulting • LaFollette Consulting, LLP -- Consultant to the industry • The CPA Practice Advisor -- Executive Editor • Thomson Reuters (Creative Solutions) – VP - Product Strategy • LaFollette, Jansa, Brandt & Co. , LLP -- Tax & Technology partner • AICPA Committees • CITP Credential Committee – Chair (7 years; Member 4, Chair 3) • Journal of Accountancy – Technology Advisory Board • TECH+/Practitioners Conference -- Planning Committee (6 years) • National Accreditation Commission – ad hoc (3 years) • National Tax Education Program (AICPA/UI) -- Graduate and former Staff Lecturer (12 years) • Top 10 Technology Initiatives -- Review Committee (5 years) • Microcomputer Advisory Services Committee (3 years)
    3. 3. Who We Are Disruption & CPA’s Significant Areas of Change Agenda
    4. 4. Who we Are
    5. 5. About CPA2Biz  AICPA subsidiary, Formed in 2001  Markets all AICPA products and services, manages AICPA affinity programs, manages AICPA web properties and leads key AICPA technology initiatives  AICPA Store (www.cpa2biz.com) is ranked by Internet Retailer as one of the Top 500 e-commerce sites in the US.  Built one of the leading distribution channels to the profession through its Trusted Business Advisor Solutions program—a portfolio of web-based solutions, training, resources, and alliance programs transforming the CPA- client relationship.  Headquartered in New York, NY with technology and engineering offices in Santa Clara, CA, sales office in Dexter, MI, and service and support offices in Durham, NC.
    6. 6. Overarching Principle We are the leader in guiding the profession’s migration to the cloud through change management, business process education and product and service curation.
    7. 7. Templosion tem·plo·sion [tem-sploh-zhuhn] noun
    8. 8. It’s a TEMPLOSION “It’s a VUCA world – Volatile, Uncertain, Complex, and Ambiguous … the answer to rapid changes and hyper-competition is a bold vision and core values; maintaining values that don’t change while constantly re- inventing the shorter term strategy.” Tom Hood, CPA.CITP Ex. Dir – Maryland CPA Society “I like Tom Hood’s VUCA to define the paradox. Rapid, short-term change and long-term leadership ideas and goals simply don’t mesh well.” Hubert Glover Author: The Making of the Twenty-First-Century Leader
    9. 9. It’s a TEMPLOSION “It’s a VUCA world – Volatile, Uncertain, Complex, and Ambiguous … the answer to rapid changes and hyper-competition is a bold vision and core values; maintaining values that don’t change while constantly re-inventing the shorter term strategy.” Tom Hood, CPA.CITP Ex. Dir – Maryland CPA Society “I like Tom Hood’s VUCA term to define the paradox. Rapid, short-term change and long-term leadership ideas and goals simply don’t mesh well.” Hubert Glover Author: The Making of the Twenty-First-Century Leader
    10. 10. A Note on Predictions “It's tough to make predictions, especially about the future.” ― Yogi Berra
    11. 11. Our near term view is always unclear. • “Inside the Tornado” • “Tipping Point”, • “Crossing the Chasm”
    12. 12. My overlay from 1993
    13. 13. Disintermediation
    14. 14. Disintermediation Removing the middleman -- a popular buzzword used to describe how Internet-based businesses are using cloud and mobile technologies to reach customers. These companies provide products and services cheaper and faster. These technologies are revolutionizing the way products and services are bought and sold, and disintermediation is the driving force behind this revolution.
    15. 15. Trends to Discuss
    16. 16. Some Trends to Discuss 1. Cloud Storage 2. Broadcast TV / Cable TV 3. 3D Printing 4. Peer-to-peer lending 5. Restaurants 6. Hotels / lodging 7. Cars
    17. 17. Cloud Storage
    18. 18. Dropbox™ What It Is: Online document, image, and video storage What It Does: Lets you bring your photos, docs, and videos anywhere and share them easily.
    19. 19. Dropbox™ How You Might Use It: • Store important documents online for easy access. • Collaborate with others for edits and updates. • Share private documents. • Store and view property photos.
    20. 20. Dropbox
    21. 21. Dropbox Dropbox Website SD Office Desktop MacBook Air Home Office MacBook Pro NY Office Desktop iPad Galaxy 4 All Files Some Files
    22. 22. Dropbox™ Learn more: www.dropbox.com Platforms: iPhone®, iPad ®, Android™, Blackberry®, Kindle Fire®
    23. 23. Multi-factor authentication Who you are (biometrics) What you know (user ID, passwords) What you have (dongle / phone) To enable Dropbox two-step verification 1. Click Settings > Security tab 2. Account > Two-step verification > Enable 3. Enable two-step verification 4. For security reasons, you'll be asked to re- enter your password. Then you'll be given the choice to receive your security code by text message or to use a mobile app. 5. After enabling the feature, consider adding a second phone number as well. If you ever lose your primary phone, you'll be able to receive a backup security code to that number instead.
    24. 24. Password Technique • Select and memorize an 8 character nonsense string including upper and lower case letters, numerals, and symbols. • Example: qh^64Tp% • Select 2 ―spots‖ within that string (example: # 3 and #7) • Example: qhX^64XTp% • Select 2 ―spots‖ within the name of the website or service you’re registering (example: # 1 and # 3) • Example 1: wellsfargo.com = wellsFargo • Example 2: cchgroup.com = cchgroup • Insert the website characters into your password • Example 1: qhw^64lTp% • Example 2: qhc^64hTp%
    25. 25. Result
    26. 26. Password Management Tools • Keeper • Dashlane • LastPass • oneSafe • SplashID Safe • Norton Identity Safe • Password Genie • Roboform • Ilium eWallet
    27. 27. Television
    28. 28. Say Good-bye to Cable TV
    29. 29. Barry Diller’s Aereo TV
    30. 30. Barry Diller’s Aereo TV $8 / month for CBS, NBC, ABC, FOX, PBS >150,000 subscribers in NYC Sold out in Atlanta Directly to Supreme Court on April 22
    31. 31. • First in was all fun and games • Then it started to get serious • Graphene will take it to the next level • Already printing houses -- Contour Craftings prints 2,500 Square-Foot-Homes in 20 hours • And some airplane parts! 3D Printing
    32. 32. Graphene • Graphene is amazing! • Made from a layer of carbon one-atom thick • Strongest material in the world • Completely flexible • More conductive than copper • Desalinizes sea water WHILE generating electricity! • Will eventually replace silicon
    33. 33. MakerBot Replicator Mini -- $1,375 $949
    34. 34. XYZprinting Davinci 1 -- $499 Forecast World wide sales > 2.2M
    35. 35. Projections for 3D Printing • Significant patent expirations in mid-2014 • Chinese manufacturers involved • Technology has reached “tipping point” • Compare to laser printers • HP 2 sold for $3,995 in 1985 • Now available for >$100 (overpriced ink) • 3D printers sold for $14,000 only 5 years ago • Now available for >$400 (overpriced material @ ~$25 per pound) • Explosive growth from here on out • How does this impact YOUR clients?
    36. 36. Peer Lending Technology is the easy part • Kiva (non-profit) • > 1 million lenders • > $500,000,000 in loans • 99.01% Repayment rate • KickStarter (friends and family) • Regulation and litigation • Prosper (Wells Fargo execs) • >$1 billion in loan originations to date • LendingClub (technology execs) • Loans being funded @ > $250M / month • Interest paid to investors: ~$500M to date • Kabbage (technology & banking) • Direct ties to cloud-based accounting platforms
    37. 37. Crowdfunding Grows Up • 2012‟s JOBS Act, allows companies to raise up to $1 million in a 12-month period • From ―accredited investors” • Income over $200,000 (single) or $300,000 (joint) per year • or net worth over $1 million • An executive or director of the company • Under $100,000 requires two years of financial statements, certified by the principal executive, and its most recent tax return. • From $100,000 to $500,000 the statements must be reviewed by a CPA. • Over $500,000 must have audited statements
    38. 38. What it means • Role of banks? • Role of CPA’s as credit advisors? • Financial statements? • Benchmarking and analysis? • Personal investments?
    39. 39. Disruptive Technologies
    40. 40. Transparency Provider CustomerTechnology
    41. 41. Disruptive Technologies
    42. 42. GrubHub / Seamless® What It Is: Food delivery service What It Does: Aggregates menus of restaurants that provide delivery service to your specific location. Automates ordering and payment functions.
    43. 43. How You Might Use It: • Order food delivery at your home, office, or hotel. • See each restaurants‟ menu and customer ratings. • Limits errors in ordering, address, etc. • Centralizes credit card payment so there‟s no more fumbling at delivery time. GrubHub / Seamless®
    44. 44. Learn more: www.seamless.com Platforms: iPhone®, iPad®, Windows®, Android ™, Web app Cost: Free GrubHub / Seamless® 25,000 participating restaurants 130,000 meals per day 3% rake
    45. 45. DISRUPTION: Sit-down restaurants OPPORTUNITY: Del-co food outlets Services for “nesters” GrubHub / Seamless®
    46. 46. AirBnB® What It Is: Short term room rental founded in 2008 as “couch surfing” What It Does: Provides intermediary service between “hosted” apartments, rooms, B & B‟s, etc. and patrons wishing to rent them.
    47. 47. AirBnB® Current VC value!
    48. 48. How You Might Use It: • Host extra space, vacation home, apartments, etc. • Rent space almost anywhere in the world. • See each property‟s photos and customer ratings. • Limits errors in reservations dates, address, etc. • Centralizes credit card payment so there‟s no more fumbling at arrival time. AirBnB®
    49. 49. Learn more: www.airbnb.com Platforms: iPhone®, iPad®, Blackberry®, Windows®, Android ™, Web app Cost: Free AirBnB®
    50. 50. AirBnB® DISRUPTION: Traditional hoteliers Municipal tax collectors OPPORTUNITY: Micro-landlords Travelers
    51. 51. Cars
    52. 52. So what changes? • First – rental cars • Started with ZipCar – sold to Avis/Budget • Then GroundLink for limos • Now the taxi and limo business • Next – autonomous cars
    53. 53. Uber® What It Is: Car and taxi service What It Does: Provides intermediary service between car and taxi owners / operators and patrons wishing to utilize them.
    54. 54. Why Use It: • Almost-on-demand black car or taxi service. • Cheaper than traditional black car service. • See each car‟s exact location description and customer rating. • Limits errors in timing, address, etc. • Centralizes credit card payment so there‟s no more fumbling at drop-off time. Uber®
    55. 55. Learn more: www.uber.com Platforms: iPhone®, iPad®, Blackberry®, Windows®, Android ™ Cost: Free Uber®
    56. 56. And here comes the competition!
    57. 57. Uber® DISRUPTION: Existing taxi / limo companies Municipal tax collectors OPPORTUNITY: Part time drivers (Google financed) Travelers Delivery services LONG-TERM IMPACT Number of cars required Parking lots Autonomous cars?
    58. 58. Enter Google
    59. 59. Driverless Cars • We already have ―assisted‖ driving • Auto parking • Lane monitoring • Adaptive cruise • Emergency braking • Autonomous cars in our lifetime? • BMW • Audi • GM • Ford • Mercedes Benz • Volvo • Nissan • Ford • Chrysler • Hyundai
    60. 60. • Nevada, California, Florida, Michigan and Washington DC now allow licensing and operating autonomous vehicles on public roads. • Google Ventures just make its largest investment ever -- $285M in Uber (valuing Uber at $3.75B) • Google says its designing Its own self-driving car for use as a „Robo Taxi‟ • Technology is the easy part • Legislation and litigation are challenges Driverless Cars
    61. 61. 1. Technology enables massive competition 2. Centralized regulation disappears 3. Fewer cars? 4. Fewer parking lots 5. Less congestion 6. Better safety 7. More productive time So what changes? 8. Cost of trucking falls – logistics become cheaper 9. Fewer hotels? 10.Fewer full time jobs / more part time? 11.On demand delivery becomes standard – fewer bicycle messengers 12.Surge availability
    62. 62. Thank You!!!

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