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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.

Published in: Technology, Business
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The Future of IT for Accountants

  1. 1. The Future of IT for Accountants Joe Drumgoole VP Solutions FeedHenry
  2. 2. What do Accountants Do? Setup Advice CRO Planning Filings Book Budgets Keeping Payroll Audits VAT26/11/2011 Joe Drumgoole 2
  3. 3. What do Accountants do with IT• Accounting Packages• Email• Storage• Document Management• Microsoft Excel and WordAccountants are conservative in their IT choices26/11/2011 Joe Drumgoole 3
  4. 4. An IT Adoption Model26/11/2011 Joe Drumgoole 4
  5. 5. Another IT Adoption Model26/11/2011 Joe Drumgoole 5
  6. 6. Could There be a Relationship?26/11/2011 Joe Drumgoole 6
  7. 7. This Is Not Continuous for All Products Vista Newton MySpace26/11/2011 Joe Drumgoole 7
  8. 8. Clayton Christensen: The Innovators DilemmaBetter/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 anywhere26/11/2011 Joe Drumgoole 8
  9. 9. Some Global IT Trends• Open Source• SaaS• Big Data• Analytics• Cloud Computing• Mobile26/11/2011 Joe Drumgoole 9
  10. 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 proposition26/11/2011 Joe Drumgoole 10
  11. 11. SaaS: Why Should I Care?• Cheaper• No CAPEX• Free to trial• Adjust to your demands• As easy to turn off as to turn on26/11/2011 Joe Drumgoole 11
  12. 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 payments26/11/2011 Joe Drumgoole 12
  13. 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. 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-time26/11/2011 Joe Drumgoole 14
  15. 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 world26/11/2011 Joe Drumgoole 15
  16. 16. Smartphones : 40% Penetration in US PIM Optical Touch Systems ScreenLocation Apps Internet
  17. 17. Apps : 15 billion downloaded Personal Productivity Social Mobile Networking WorkforceEntertainment Apps Health
  18. 18. Its Big26/11/2011 Joe Drumgoole 18
  19. 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 clients26/11/2011 Joe Drumgoole 19
  20. 20. Thank You26/11/2011 Joe Drumgoole 20