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Overwhelmed to Energized: A Roadmap to Employee Engagement - XCM at CPA Summit

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Overwhelmed to Energized: A Roadmap to Employee Engagement using Workflow Automation to Create Capacity

Employee engagement continues to rise among the top five issues facing accounting and finance professionals. Three of the top five issues continue to be information overload and not enough time. Add the lack of employee engagement and you have a workforce that is overwhelmed and disengaged.

One of the keys to flipping this to engaged and energized is to look for new solutions and approaches, like workflow automation to help you take back control, establish accountability, and ultimately creating time and capacity to deal with the rapidly changing business climate we are facing.

Mike Sabbatis, COO of XCM explains the four keys to creating an engaged and energized workforce are:

1. Visibility - I can see the status of projects and who has them.
2. Control - I know what is expected and what are the priorities.
3. Accountability - I know how to do the work and who is doing the work.
4. Flexibility - I know what is changing and the implications.

Mike runs through several cases were XCM workflow is being deployed in corporate accounting and finance applications where this software is running on top of enterprise systems to create capacity and allow people to do more with the same people. Examples include financial statement closing, corporate tax filings, statutory reporting, and more.

The key lies in leveraging people, processes, and technology to create the five steps to engaged and energized:

1. Build capacity by harnessing people, processes, and technology.
2. Minimize wasted time and effort.
3. Connect processes across multiple point solutions and legacy systems.
4. Think 'real-time'.
5. Create a single thread of truth for all processes.

Now is a good time to be an accountant. Learn how XCM software brings you the best in workflow automation. Mike Sabbatis will cover the best ways to utilize technology to maximize the efficiency and value of your organization.

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Overwhelmed to Energized: A Roadmap to Employee Engagement - XCM at CPA Summit

  1. Overwhelmed to Energized: A Roadmap to Employee Engagement
  2. Poll: What are your top challenges? (pick the top five) 1. Finding & retaining talent 2. Not enough 4me 3. Engaging our people 4. Doing more with less 5. Being reac4ve vs proac4ve Note: Overall these are consistent with our research across the Profession. Finding and retaining talent have steadily risen in the last 12 months in our polls across the Profession. Employee engagement has also risen to the Top 5 consistently in the last six months. Older leaders not giving up control and changing systems came in 4ed for sixth place. Placeholder, this is where Tom enters ini?al polling ques?on
  3. Tom Hood, CPA, CITP, CGMA MACPA Executive Director & CEO Tom Hood Executive Director & CEO, MACPA tom@macpa.org •  Tom is the Chief Executive Officer and Executive Director of MACPA and passionate about four areas, leadership, learning, technology and collaboration. •  He was ranked #2 Most Influential People in Accounting in Accounting Today's Top 100 Most Influential People list (his 12th time on the list). He was also named to the CPA Practice Advisor Accounting Hall of Fame in 2015. •  One of his top strategic thinking tools is i2a Insights to Action, a collaboration system that he co-authored with Gretchen Pisano. The i2a process was customized for Sage in their Vision to Strategy workshops. •  Prior to MACPA, he was most notably: •  CEO & Founder of the Business learning Institute •  CFO at Bryn Awel Corporation Tom graduated from Loyola College with a degree in Accounting. He has an M.S. equivalent in IT from the University of Baltimore. He earned an M.S. in real Estate Finance from Johns Hopkins University.
  4. Mike Sabbatis XCM Chief Operating Office Mike Sabbatis Chief Operating Officer, XCM Solutions mike.sabbatis@xcmsolutions.com •  Mike has extensive experience leading fast-paced, customer- focused organizations that develop forward-looking technologies designed to disrupt the norm while sustaining long-term, profitable growth. •  He is a leader, investor, and trusted board member of software, technology, and information service companies that achieve exceptional financial and operational results. •  Prior to XCM Solutions, he was most notably: •  Current board member at XCM and AverQ, former board member of Doc.It •  President and CEO of CCH Tax and Accounting North America, Wolters Kluwer •  Chief Revenue Officer of Realpage, Inc •  CMO for Advantage MOTI a joint venture with Datamatics, Ltd. •  Vice President, Business Development and Strategic Accounts at Thomson Corporation Mike graduated from Cleveland State University with a degree in Accounting. He is a member of the National Association of Corporate Directors.
  5. XCM Has: •  Global Presence with 350+ Employees •  500+ Customers •  25,000+ Users •  35% of the Top 100 CPA Firms •  More Than 2,000 Client Accounting Businesses XCM Solutions: •  Focus on Tax, Accounting, Finance & Operations Productivity •  For Businesses & Firms •  Browser & Device Agnostic •  Scalable Technology &Resources XCM’s Productivity Platform: •  1,000,000+ Processes Annually •  Customers Report ~30% Productivity Gains •  Over 140,000 Tax Returns Processed •  Largest Tax Return Was More Than 2,600 pages Productivity, Simply Enabled with Offices in Boston, Bangalore & Chennai
  6. 70% of the workforce is disengaged according to Gallup research
  7. Source: Deloitte Human Capital Trends 2014 and 2015 The Overwhelmed Employee The “average” US Worker works 47 hours, 49% work 50 hours or more per week & 20% work 60+ hours per week 31 Hours per month in unproductive and unnecessary meetings The average US worker now spends 25% of their day reading or answering emails25% More than 80% of all companies rate their business “highly complex” or “complex” for employees. of the US population believes it is impossible to succeed at work and have a balanced family life. 40% of companies have a program to “simplify work” or help employees deal with stress.16% The average mobile phone user checks their device times a day. 150 Source: Deloitte Human Capital Trends 2014 and 2015
  8. Poll: What are your top challenges? (pick the top five) 1. Finding & retaining talent 2. Not enough 4me 3. Engaging our people 4. Doing more with less 5. Being reac4ve vs proac4ve Note: Overall these are consistent with our research across the Profession. Finding and retaining talent have steadily risen in the last 12 months in our polls across the Profession. Employee engagement has also risen to the Top 5 consistently in the last six months. Older leaders not giving up control and changing systems came in 4ed for sixth place.
  9. Three Hard Trends: 1. Regulations & Standards 2. Technology 3. Demographics
  10. A Day in the Life of the Overwhelmed Employee 8:12 AM I have my coffee, check my emails, and the status of my team and our work 8:30 AM I have a meeting 10:15 AM In another meeting, our priorities changed 12:30 PM Find out an employee went home sick, have to find out what they were working on and if anyone else needs to cover it 1:00 PM I have 30 minutes for lunch, then back-to-back meetings 4:45 PM I get interrupted by a crisis 5:10 PM Text my friends to tell them I can't make it tonight as work calls
  11. No Clear View Process can be invisible Information isn’t accessible You can’t see current status or progress
  12. Increasing workload, tighter deadlines, resource constraints require more effective Controls Route Work, Allocate Resources Provide Clear Guidance Orchestrate, Don’t Manage “When daily operations are under control, you don't have to fix issues from yesterday and today; you can focus on tomorrow.” Peter Matthijssen, MSc, CMC, LSS Black Belt
  13. Don’t Know or Understand Expectations 87% had no clear idea of what they should be doing to achieve the goal 81% said they were not held accountable
  14. What is the real issue? Standardization helps, but reality sets a different agenda Savvy executives think creatively “Oh, and I need this NOW!” Priorities, People, Circumstances, and Strategies
  15. Why Are We Overwhelmed and Disengaged? ASK A QUESTION – Rank your top 2 Visibility Control Accountability Flexibility •  I don’t know…where things sit, our progress, who has the work. •  I don’t have enough 4me. •  I have too much work, I can’t keep track of it all. •  I don’t know What to do. •  I don’t know How to do it. •  I’m not sure Who’s doing it. •  I have changing priori4es. •  I can’t change the way we do things.
  16. Impact Disengaged Disillusioned Low Quality
  17. Moving from Overwhelmed to Energized: A Case Study Company Background 630 Entities–Corporate and Partnerships 1,000’s of K-1’s Managing multiple CPA firms specializing in particular tax strategies 50+ resources in department Business Challenge: Missed Deadlines – info in Excel, Tax Apps, Accounting & Non-Tax Apps Tracking at a resource level, no regard for interdependencies, no rollup, no flexibility–resulting in manual effort High stress Many meetings, 1,000’s of emails Errors surfacing downstream XCM™ Productivity Platform Solution: 360o View of all activity–regardless of the source systems Real-time–with easy, intuitive, low-impact end-user access tailored to their requirements 1000’s of processes, projects, due dates & responsibilities in One Platform Visibility eliminated 100’s of meetings, 1,000’s of emails & energized the team Moving from Overwhelmed to Energized: A Case Study
  18. Know the Who, What, Where, Why & When Real-time Visibility to ALL Activities
  19. The XCM Productivity Enablement Platform is a solution that’s indispensable for Tax, Accounting & Finance Executives. Visit XCM at: xcmcorporate.com or xcmsolutions.com From Overwhelmed to Energized •  Organizes the Chaos •  Creates a single thread of the truth for ownership •  Manages tasks, resources & deadlines •  Centralizes information across systems, functions & tasks •  Absorbs existing technology, without disrupting your culture What does Productivity Enablement look like for you? Find out how this looks for you—contact: Mike Sabbatis Mike.Sabbatis@xcmsolutions.com Tom Hood Tom@macpa.org

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