Digital CPA - How the Dynamics of the Client/CPA Relationship Changes in the Cloud

2,021 views

Published on

Tom Hood moderates a panel of CPAs doing client accounting services and CFO advisory in the cloud. Jim Cashin (McGladrey), Steve Gross (Trusted CFO Solutions), and Trevor Smith (Harshman Phillips & Co)

Published in: Technology
0 Comments
3 Likes
Statistics
Notes

Comments are closed

  • Be the first to comment

No Downloads
Views
Total views
2,021
On SlideShare
0
From Embeds
0
Number of Embeds
828
Actions
Shares
0
Downloads
8
Comments
0
Likes
3
Embeds 0
No embeds

No notes for slide

Digital CPA - How the Dynamics of the Client/CPA Relationship Changes in the Cloud

  1. How  the  Dynamic  of  the  CPA/Client  Rela6onship  Changes  in   the  Cloud       Firm  Panel  Discussion   Tom Hood, CPA.CITP, CGMA CEO Maryland Association of CPAs Business Learning Institute Digital  CPA:  2012  CPA2Biz  Cloud  User  Conference   Gaylord  Na6onal  Harbor   December  7,  2012   CPA2Biz, Inc. - Proprietary and Confidential Information
  2. Moderator:  Tom  Hood   •  Named  Fourth  Most  Influen2al   Person  by  Accoun2ng  Today   •  Top  25  Influencers  in  Learning  &  HR   by  HR  Examiner  Tom Hood, CPA, CITP, CGMA CEO •  Top  25  Public  Accoun2ng  Thought  MACPA Leaders  by  CPA  Prac2ce  Adviser   •  Currently  working  on    Learning  Business Learning Institute (BLI) Management  with  AICPA/C2B&   Performance  Management/XBRL   CPA2Biz, Inc. - Proprietary and Confidential Information
  3. CPA Panelists Trevor  Smith   Director  of  Technology  Services   Harshman  Phillips  &  Co  Jim  Cashin   Steve  Gross  Patner   CEO  McGladrey  LLP   Trusted  CFO  Solu2ons   CPA2Biz, Inc. - Proprietary and Confidential Information
  4. CPA2Biz, Inc. - Proprietary and Confidential Information
  5. CPA2Biz, Inc. - Proprietary and Confidential Information
  6. CPA2Biz, Inc. - Proprietary and Confidential Information
  7. Why  are  we  here?  Source:  Brian  Solis  author  of  The  End  of  Business  as  Usual  
  8. Cloud  Compu6ng:  Disrup6ve  Innova6on  •  Small  Business  Accoun2ng  and  Client  Accoun2ng     on  the  verge  of  disrup2on  •  Cloud  compu2ng  is  drama2cally  changing  how     accoun2ng  soVware  is  developed  and  delivered    •  New  paradigm  emerging  for  small  business  &  a  new   market  is  being  created     Incredible Opportunity For Firms CPA2Biz, Inc. - Proprietary and Confidential Information
  9. CPA  Horizons  2025  •  1.  CPAs  must  stay  current  with,   embrace  and  exploit  technology  for   their  benefit  for  increased  efficiency   and  expansion  of  services.  •  2.  The  profession  must  find  solu2ons   to  offer  investors  and  stakeholders   up-­‐to-­‐date,  real-­‐2me  financial   informa2on  and  to  increase   transparency.  •  3.  CPAs  must  embrace  mobile   technologies  and  social  media  to   modernize  and  enhance  interac2on   and  collabora2on  with  clients  and   colleagues.   CPA2Biz, Inc. - Proprietary and Confidential Information
  10. Before:  Transac2onal   Today:  Advisory  •  Low margin transaction •  Improve client financial performance processing with proactive consulting•  Means to an end; • Save time and reduce cost by a Tax Return standardizing and leveraging automation and repeatable processes•  Pressure to keep fees low • Increase real-time collaboration with•  Non-strategic clients by accessing information in the Cloud • Increase margins by providing higher value with increased productivity CPA2Biz, Inc. - Proprietary and Confidential Information
  11. Move  Up  the  Client  Value  Pyramid  More  CPAs  are  becoming  outsourced  CFOs   for  their  small  business  clients   Client  Value  Pyramid   Virtual  CFO   Budget,  Business  Planning,  Business  Modeling,  etc.   Controllership  Services   Monthly  Close,  Fin  Statements,  Cash  Flow  Analysis   Transac6onal  Services   Tax,  Write  up,  Bookkeeping,  A/P,  Payroll,  etc.   CPA2Biz, Inc. - Proprietary and Confidential Information
  12. GeQng  Ver6cal  through  the  Cloud   Most  Popular  Client  Ver6cals     Business   Intelligence   for  Outsourced  Accoun6ng  Services         Repor6ng     •   Professional  Services  –  90%   Client   •   Construc6on  –  76%  Accoun6ng   •   Retail  –  75%    Capabili6es   Real-­‐Time  Client   •   Not-­‐for-­‐Profit  –  73%   Collabora6on   driven     •   Manufacturing  –  65%   through   •   Wholesale  Distribu2on  –  61%   •   Technology  Companies  –  59%   cloud   •   Transporta2on  –  48%  compu6ng   •   Hospitality  –  45%   Standardized   Workflows     •   Franchises  –  40%     •   Government  –  29%   CPA2Biz, Inc. - Proprietary and Confidential Information
  13. Game  Changing  Transforma6on   TODAY     FUTURE     Moving  From   To  Systems    Systems  of  Record     of  Engagement     •  Consolidate   •  Collabora2ve   •  Organize     •  Intelligent   •  Report   •  Knowledge  Based   (The  Digital  CPA  )   Geoffrey  Moore  Slide  –  Adopted  for  CPA  Marketplace   CPA2Biz, Inc. - Proprietary and Confidential Information
  14. CPA2Biz  Survey  Results  –  April  2012  Accoun2ng  Firm  Usage  of  Web-­‐Based  Applica2ons   TOP  CONCERNS  (SIGNIFICANTLY  OR  SOMEWHAT  CONCERNED)   • Security:  73%  concerned  (          8%  from  2011)   • Confiden6ality:  72%  concerned  (        8%  from  2011)   • Privacy:  67%  concerned  (        11%  from  2011)   • Availability:  64%  concerned  (          4%  from  2011)     CPA2Biz, Inc. - Proprietary and Confidential Information  
  15. What  alleviates  CPAs’  concerns?   CPA2Biz  2012  Technology  Survey  100%   90%   80%   70%   60%   50%   Not  Important   Somewhat   40%   Very  Important   30%   20%   10%   0%   Company   SOC  2     Other  firms   Strong  SLAs  in   Training  on   reputa2on   usage   place   cloud  service   CPA2Biz, Inc. - Proprietary and Confidential Information
  16. Digital  Darwinism?   hnp://cpa.tc/engagement   CPA2Biz, Inc. - Proprietary and Confidential Information
  17. You  have  3  years  at  most!   hnp://cpa.tc/socbiz  •  Cloud  •  Mobile  •  Social  •  Value-­‐added  •  Collabora2ve  hnp://cpa.tc/socialbiz   CPA2Biz, Inc. - Proprietary and Confidential Information
  18. Tom  Hood,  CPA.CITP   CEO   Maryland  Associa6on  of  CPAs   Business  Learning  Ins6tute   (443)  632-­‐2301   E-­‐mail  tom@macpa.org   Web  hip://www.macpa.org  Blog  hip://www.cpasuccess.com    

×