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

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 Connecting
and 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 billion
Smartphone sales grow
Smartphone sales grow
mobile subscriptions
by 56% to 470 million
77%
Tablet sales will grow
by 400% to 70 million
of world population

17. Workshifting
Where 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 more
productively

24. 64% live more
balanced lives

25. New Technologies Enable Mobility and
Connectivity
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 Collaboration
and 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 Mobile
Answers When and Where You Need Them

32. IntelliConnect TM
From product platform to enabling the future

34. New Mobile
Applications:
Tax News
Highlights App

35. New Mobile
Applications:
Quick Find POC
Allows users to quickly
search specific
databases and highly
valued research content
Offering customizable
mobile portlets for
instant access to
IntelliConnect

36. Future Ready Firms:
Electronic Portal Usage Within 3 Years
Electronic portals 74%
usage
82%
Tax
Audit

37. Balance
Sheets 1040
Etc.
Income
Balance
Stmts.
Sheets
1040
Income
Stmts.
ProSystem fx Portal
Etc.
95.4 million hits
Firms Clients

38. 95.4 million hits

39. 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

40. Managing Knowledge Flows
Knowledge workers spend 15-35% of their
time looking for information…
…40% of the time they don’t find it.

41. 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 management
process that includes managing
firm’s information assets to
36%
improve decision-making & 54%
employee productivity
Tax
Audit

44. Is Your Firm Future Ready?

45. Is Your Firm Future Ready?
MANAGING
KNOWLEDGE FLOWS
CONNECTING AND
COLLABORATING
STANDARDIZING PROCESSES
s
ed
AND WORKSTREAMS
ne
Continuous impro
BUILDING A
DIGITAL INFRASTRUCTURE
CORE TECHNICAL KNOWLEDGE
AND EXPERTISE
Core competencies and best practices

46. The Future is Connected

47. Thank You
Kevin Robert
Wolters Kluwer Tax & Accounting CEO
kevin.robert@wolterskluwer.com
+1.847.267.7070