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The Anticipatory CPA Firm
How to Get Ahead & Stay Ahead
CPA America Leading Partners Retreat
September 28, 2018
Tom Hood, ...
Respond to Poll
BLI.CNF.IO
Ask a Question
Select your session, join the conversation:
Vote for a Question
The future is here, it’s just unevenly distributed
“In the next five years, game-changing
technologies will transform every
business process, including how we
sell, market, ...
There will be more change
in the next five years than
the last fifty years
– Ken Bishop, CEO
“The opportunities for the profession are immense, but so
are the changes we’re facing, If we are willing to go
beyond, to...
• Change will accelerate due to emerging technologies.
• I believe we are underestimating the profession’s understanding o...
#FutureReady
The capacity to be anticipatory
(aware, predictive and adaptive) of
emerging technology and trends in
busines...
Adapt
Predict
Aware
}Future
Ready
Aware
The 4th Industrial Revolution
Vaporized
Whatever can be vaporized will be vaporized.
- Robert Tereck author of Vaporized: Solid Strategies for Success i...
}
Vaporized
“Whatever can be vaporized will be vaporized.”
Robert Tereck author of Vaporized: Solid Strategies for Success...
The shot heard round the world…(at least in accounting)
Source: Deloitte | Accenture
Artificial intelligence Blockchain
Data analytics Cybersecurity
ROBOTICS is predicted to auto...
From KPMG &
IBM Watson to a
small CPA firm in
18 months!
Tom Peters and CPAs
Firm business models are shifting
High Leverage Low Leverage
Today Tomorrow?
1. Being proactive vs reactive
2. Finding the right people
3. Talent retention
4. Keeping up with technology
5. Succession...
Sleeter Group Survey, 2014
Clients switch firms
because they do not
get proactive
advice, only
reactive (historical)
servi...
83% of SMBs
are feeling
moderate to
severe
disruption -
up from 71%
last year
Confidential – Internal Use Only
Source : Deloitte Millennial Survey
74% of
Millennials
DO NOT believe
their organizations...
Adapt
Predict
Aware
}Future
Ready
#FutureReady
“The bottom line is that CPA firms need to increase
their future readiness in order to successfully
navigate ...
Predict - HardTrends
Three HardTrends:
1. Government Regulation
2. Technology
3. Demographics
Regulations & Standards
● RevRec
● TCJA
● GDPR
● Wayfair
(SALT)
Technology
McCormick Bots in Accounting (RPA)
Warner Bros/courtesy Everett Collection / Everett Collection
What happens to this industry
when all financial and economic...
6 Days
2 Secs
1. Artificial intelligence, machine learning, and
cognitive computing in audit and tax
2. Big Data and high-speed data ana...
Demographics
http://bit.ly/BLIaoaf
Your turn!
A Hard Trend is a projection based on measurable,
tangible, and fully predictable facts, ...
Some Examples
http://bit.ly/BLIaoaf
Hard Trend Opportunity Predictable Problem
Increasing use of AI & Machine Learning in
...
Get ready for
the fast future
Adapt
Rebekah Brown, CPA
The Business Learning Institute
#FutureReady Leader Attributes
1. Providing Direction (Where you know
the future is going)
2. Enabling Innovation thru Col...
Become #FutureReady: The Four Building Blocks
Mindset
Anticipatory Skills
Collaboration Skills
Confidence
Source: Joey Hav...
In a period of rapid change and
increasing complexity, the winners
are going to be the people who
can LEARN faster than th...
In a period of rapid change and increasing complexity, the
winners are going to be the people who can LEARN faster
than th...
To meet the demands of the future, auditors
must:
• Stay ahead of the curve (anticipate) on
evolving technology and the ch...
“Blockchain is bringing new challenges and
opportunities to the audit and assurance
profession. As the paper makes clear, ...
Confidential – Internal Use Only
Culture = Mindset, Skillset, and Toolset
In order to remain competitive, to stay relevant...
Seven #FutureReady Competencies in
the Age of the Machines
• Anticipating and serving evolving
needs
• Strategic & Critica...
Future Ready Competencies in the Age of the Machines
Leadership
Anticipating and
Serving Evolving
Needs
Strategic & Critic...
The skills finance and accounting professionals will need in the future
and the emergence of the T-shaped professional.
#F...
Organizational
Leader
Individual
Contributor
Manager
the Bounce
© Copyright Business Learning Institute 2017
• I am concerned between your (I believe correct) view of the need for border-
crossing skills and the emphasis the struct...
blionline.org/ao
KNOW WHAT’S NEXT
Transform Planning
Ø Identify Hard Trends
Ø Identify Soft Trends
Ø Predicting Change
Ø T...
IBM – MACPA-BLI Partnership
Keeping you Future Ready
https://bdu.blifutureready.org
Become #FutureReady: The Four Building Blocks
Mindset
Anticipatory Skills
Collaboration Skills
Confidence
Source: Joey Hav...
"The Anticipatory Organization Learning System helps
establish a mindset, a common language and
eventually a culture of be...
Closing Thoughts
Confidential – Internal Use Only
Culture = Mindset, Skillset, and Toolset
In order to remain competitive, to stay relevant...
Get ready for
the fast future
RONI?
Rebekah Brown, CPA
The Business Learning Institute
If we fail, it’s not because our
machines are too intelligent, or
not intelligent enough. If we fail,
it’s because we grew...
If there is a conversation about the future of the
profession, you're bound to hear Hood's name
mentioned as one of the pe...
The Anticipatory CPA Firm
- WORKSHOP
Innovation Survey from Major Firms & Firm
Associations
87% Critical & Very
Important
63
How good is your organization at innovation?
33% say
they are
Innovative
64
Primary Challenges to Innovation
1. Legacy thinking
2. Fear
3. Lack of compelling
vision and why
4. Lack of alignment in
p...
Innovation in CPA Firms
• Developing new offerings that expand the value
we provide to our existing clients
• Implementing...
How we make the case for change & increase buy-in
and alignment
D x V x F > R
67
blionline.org/ao
KNOW WHAT’S NEXT
Transform Planning
Ø Identify Hard Trends
Ø Identify Soft Trends
Ø Predicting Change
Ø T...
blionline.org/ao
blionline.org/ao
Everyday Innovation - ‘ers’
Faster – Better - Cheaper
Differentiating Innovations
(Products / Services)
Transformational I...
Everyday Innovation - ‘ers’
Faster – Better - Cheaper
Differentiating Innovations
(Products / Services)
Transformational I...
•Sleeter Group Survey, 2014
•Clients switch firms
because they do
not get proactive
advice, only
reactive (historical)
ser...
Business Events Data Information Knowledge Decisions
1. Communicating with clarity and objectivityCPAs are trusted advisor...
blionline.org/ao
Business Events Data Information Knowledge Decisions
Static Actionable
Wisdom
Value
Guiding
Principles
Fu...
www.blionline.org
One Idea
per Sticky
Write large
& clear
with a
Sharpie
Be Specific –
No One-Word
Stickies
Management By ...
Capturing The Insights from Tom’s Presentation
www.blionline.org
Think about what you heard during Tom’s presentation and ...
Hard Trends
Exercise
Hard Trends, Opportunities, Predictable Problems
1. Identify 3 HARD TRENDS that will be most
impactful to your Industry Gr...
Some Examples
Hard Trend Opportunity Predictable Problem
Increasing use of AI & Machine Learning in
Audit
100% Sampling, I...
Background
BLI is leading the transformation of the profession by
future-readying organizations and future-proofing career...
www.blionline.or
g
What we do
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
The Anticipatory CPA Firm - CPA America Leading Partners Retreat
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The Anticipatory CPA Firm - CPA America Leading Partners Retreat

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Recent research says that the business environment for CPAs and their clients will be characterized by “unprecedented, massive and highly accelerated change” through 2025. Exponential technology trends like Blockchain, Artificial Intelligence, Big Data are fundamentally reshaping auditing, accounting and tax. Workplace demographics including the boomer retirements and the rise of millennials are reshaping firm culture. To thrive in this new age of hyper-change and growing uncertainty, it is now an imperative to learn a new competency–how to accurately anticipate the future. This session will show how to anticipate these trends and move from being a crisis manager to an opportunity manager.

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The Anticipatory CPA Firm - CPA America Leading Partners Retreat

  1. The Anticipatory CPA Firm How to Get Ahead & Stay Ahead CPA America Leading Partners Retreat September 28, 2018 Tom Hood, CPA, CGMA, CITP CEO of the MACPA & Business Learning Institute @tomhood
  2. Respond to Poll BLI.CNF.IO Ask a Question Select your session, join the conversation: Vote for a Question
  3. The future is here, it’s just unevenly distributed
  4. “In the next five years, game-changing technologies will transform every business process, including how we sell, market, communicate, collaborate, educate, train and innovate.” - Daniel Burrus
  5. There will be more change in the next five years than the last fifty years – Ken Bishop, CEO
  6. “The opportunities for the profession are immense, but so are the changes we’re facing, If we are willing to go beyond, to push on beyond the perceptions of what we do, we can create a profession that’s aligned with where the world is headed.” – Barry Melancon, CEO of AICPA What about the CPA Profession? “We won’t recognize the vast majority of CPA firms in five years.”
  7. • Change will accelerate due to emerging technologies. • I believe we are underestimating the profession’s understanding of the trends or efforts to understand and employ technology and train people • Technology will disrupt the accounting profession to the bottom and very quickly. • CPA profession seems so far behind in the automation area. I do agree that the accounting function as we know it today can be replaced entirely. One major barrier may be something like fraud. • We need to catch up as a profession so we are not left behind.
  8. #FutureReady The capacity to be anticipatory (aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry. 92% of CPAs are not Future Ready
  9. Adapt Predict Aware }Future Ready
  10. Aware
  11. The 4th Industrial Revolution
  12. Vaporized Whatever can be vaporized will be vaporized. - Robert Tereck author of Vaporized: Solid Strategies for Success in a Dematerialized World
  13. } Vaporized “Whatever can be vaporized will be vaporized.” Robert Tereck author of Vaporized: Solid Strategies for Success in a Dematerialized World
  14. The shot heard round the world…(at least in accounting)
  15. Source: Deloitte | Accenture Artificial intelligence Blockchain Data analytics Cybersecurity ROBOTICS is predicted to automate or eliminate up to... of basic accounting work by 2020.
  16. From KPMG & IBM Watson to a small CPA firm in 18 months!
  17. Tom Peters and CPAs
  18. Firm business models are shifting High Leverage Low Leverage Today Tomorrow?
  19. 1. Being proactive vs reactive 2. Finding the right people 3. Talent retention 4. Keeping up with technology 5. Succession and retirements 6. Competition and client retention 7. Partner alignment and buy-in CPA.COM Survey from 2015 found 92% of CPAs are not #FutureReady – Anticipatory = Aware, Predictive & Adaptive Top Challenges Facing Major Firms
  20. Sleeter Group Survey, 2014 Clients switch firms because they do not get proactive advice, only reactive (historical) services. The #1 reason why clients switch firms
  21. 83% of SMBs are feeling moderate to severe disruption - up from 71% last year
  22. Confidential – Internal Use Only Source : Deloitte Millennial Survey 74% of Millennials DO NOT believe their organizations are INNOVATIVE. 2.2 Out of 5 or 44% Is your organization moving fast enough? Source : BLI Survey of Young Professionals and Emerging Leaders
  23. Adapt Predict Aware }Future Ready
  24. #FutureReady “The bottom line is that CPA firms need to increase their future readiness in order to successfully navigate the fast future of change. In fact, every enterprise in every industry needs to get better at predicting what’s coming. By understanding the metrics (Hard Trends) that influence our future, we can design (with purpose) a better, preferred future. That is the big idea behind future-readiness – to have the capacity to take action with intent and design in order to adapt quickly and thrive.” Source: CPA.com Insight into the CPA of the Future Study 2015
  25. Predict - HardTrends Three HardTrends: 1. Government Regulation 2. Technology 3. Demographics
  26. Regulations & Standards ● RevRec ● TCJA ● GDPR ● Wayfair (SALT)
  27. Technology
  28. McCormick Bots in Accounting (RPA)
  29. Warner Bros/courtesy Everett Collection / Everett Collection What happens to this industry when all financial and economic data is being updated, automatically and indisputably in real time? What happens to the people who lose their jobs? What happens to the work culture? If the future foreseen by this book comes to pass, we’ll witness the biggest employment shakeup the world has ever seen… And this time, the most vulnerable jobs are not the usual suspects: the factory workers, the low-level clerks, or the retail store assistants. Now it’s the accountants, the bankers, the portfolio managers, the insurers, the title officers, the escrow agents, and the trustees—and, yes, even the lawyers. - Michael Casey & Paul Vigna
  30. 6 Days 2 Secs
  31. 1. Artificial intelligence, machine learning, and cognitive computing in audit and tax 2. Big Data and high-speed data analytics 3. Adaptive and predictive cybersecurity 4. Virtualization and automation of processes and services 5. Mobile apps for business process innovation 6. Blockchains and cryptocurrency 7. Advanced cloud computing 8. Smarter smartphones and tablets drive mobile process automation 9. Virtualization of desktops, storage, applications, and networking 10. Social business applications + 1 RPA – Robotic Process Automation Source: 2018 Top technology Trends – Burrus Research BLI-MACPA Research with over one thousand finance and accounting professionals Top 10 Technology Hard Trends Shaping the Profession in 2018
  32. Demographics
  33. http://bit.ly/BLIaoaf Your turn! A Hard Trend is a projection based on measurable, tangible, and fully predictable facts, events, or objects. It’s something that will happen: a future fact that cannot be changed. Strategy based on the certainty of Hard Trends has low risk. Hard Trend categories include Technology, Demographics, and Government Regulations.
  34. Some Examples http://bit.ly/BLIaoaf Hard Trend Opportunity Predictable Problem Increasing use of AI & Machine Learning in Audit 100% Sampling, Increased analytics and decreased staff costs Competition could beat us in price and differentiation Increase in Baby boomers retiring Increased need for retirement, wealth and succession planning for clients Loss of clients if other firms do it and we don’t Increase in tax implications of TCJA and Supreme Court Sales Tax case SALT services for clients and planning opportunities with our insights Clients will seek others if we don’t do this Increase in cloud accounting systems and apps Significant efficiency from automatic accounting apps, data analytics for clients CAS & outsource CFO are fastest growing firm services and our competition will get ahead of us Increase in cloud practice management systems & apps in CPA firms Cloud allows efficiencies and remote access by our teams Firm team members view firm as using obsolete technology and may look at other firms
  35. Get ready for the fast future Adapt Rebekah Brown, CPA The Business Learning Institute
  36. #FutureReady Leader Attributes 1. Providing Direction (Where you know the future is going) 2. Enabling Innovation thru Collaboration 3. Facilitating Learning 4. Disciplined Execution 5. Inspiring Culture
  37. Become #FutureReady: The Four Building Blocks Mindset Anticipatory Skills Collaboration Skills Confidence Source: Joey Havens, HORNE LLP
  38. In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster than the rate of CHANGE and faster than their COMPETITION. Tom Hood, CPA, CITP, CGMA
  39. In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster than the rate of CHANGE and faster than their COMPETITION. Tom Hood, CPA, CITP, CGMA
  40. To meet the demands of the future, auditors must: • Stay ahead of the curve (anticipate) on evolving technology and the changing regulatory environment. #hardtrends • Sharpen technology, critical thinking and communication skills. • Look ahead and provide insights on future challenges and opportunities. Source: Forbes / KPMG Audit 2025 - The Future is Now
  41. “Blockchain is bringing new challenges and opportunities to the audit and assurance profession. As the paper makes clear, CPAs will need to evolve their skillsets and knowledge to meet the anticipated demands of the business world as blockchain and other new technologies are more widely adopted.” – Sue Coffey – AICPA EVP “Change comes quickly,” says Gord Beal, vice president of research, guidance and support at CPA Canada. “Anticipation, early understanding and integration of innovative technologies is critical to the success of our members and the organizations they serve.
  42. Confidential – Internal Use Only Culture = Mindset, Skillset, and Toolset In order to remain competitive, to stay relevant, even to survive in this age of exponential change, HBK must adopt an anticipatory mindset, a ‘future view’ based on the hard trends we see shaping our future, and use those insights to help our clients capitalize on the opportunities that accompany digital disruption. Learning to anticipate and adjust to this new age in financial services is significantly changing the way our team members think, allowing us to be future-ready, ensuring we will be even more relevant as trusted advisors to our clients." Christopher Allegretti, CPA, Managing Principal and CEO of HBK.
  43. Seven #FutureReady Competencies in the Age of the Machines • Anticipating and serving evolving needs • Strategic & Critical thinking & Synthesizing intelligence to insight • Integration and collaboration • Tech-savviness and data analytics • Communications • Leadership • Functional and domain expertise Future Ready Competency Matrix © Copyright Business Learning Institute 2017
  44. Future Ready Competencies in the Age of the Machines Leadership Anticipating and Serving Evolving Needs Strategic & Critical Thinking and Problem Solving / Synthesizing Intelligence to Insight Communication Technology Savvy & Data Analytics Integration & Collaboration Functional & Domain Expertise Lead & Inspire people Empathy Build relationships Social & emotional intelligence Service orientation Emotional intelligence People management Negotiation Cross Cultural Competency Social Intelligence Globally focused & Cross cultural Team Development Ideation Creativity Innovation Brainstorm (Ideation) creativity / innoavtion Novel & adaptive thinking Complex problem solving Critical thinking Creativity Transdisciplinarity Novel and Adaptive Thinking Future-Facing Large frame pattern recognition (outside their frame) Strategic Guidance vs Tactical Acuity Sensemaking Cognitive flexibility Judgment and Decision Making Design mindset Cognitive Load Management Complex communication New media literacy Computational Thinking Tech Savvy Collaborate Coordinating with others Virtual Collaboration Collaborative mindset Finance and Accounting Professional Competencies Moral and Ethical Reasoning Look, Lead, Love,Learn Critical Thinking Skills: For Financial Professionals Smarter Decision-Making and Problem Solving for Leaders Seven Secrets of Successful Business Communication – Part 1 Analytics and Big Data for Accountants Leading and Collaborating in a VUCA World The Eight Hour MBA: Key Concepts of Leadership Strategy Critical Thinking For Finance Strategic Problem Solving: How to Solve Tough Challenges the Mastermind Way Seven Secrets of Successful Business Communication – Part 2 Blockchain, Big Data and Business Intelligence for Accounting and Finance Value of Collaboration – The Art of Relationship Management MBAexpress: Emotional Intelligence Critical Thinking, Case Studies and Fraud Tapping Into The Problem Solving Power of Your Team Effective Communication and Negotiation (Controller Series) Understanding the Transformational Power of Data and Analytics Look, Lead, Love,Learn The Upside of Stress Creativity & Innovation MBAexpress: Smarter Decision-Making MBAexpress: Communication in the Workplace Keeping Up With Technology 2017 Microsoft OneNote Digital Note-Taking Note-Taking and Collaboration MBAexpress: Nuances of Negotiating The Anticipatory Organization: Accounting and Finance Edition The Eight Hour MBA: Key Concepts of Powerful Communication Effective Communication and Negotiation MacGyvering: The Art of Being Resourceful in a Crisis Communications with Executive Presence for Business Success How the Best Financial Executives Create High Future Ready Competency Matrix © Copyright Business Learning Institute 2017
  45. The skills finance and accounting professionals will need in the future and the emergence of the T-shaped professional. #FutureReady T-Shaped Professional Future Ready Competency Matrix © Copyright Business Learning Institute 2017
  46. Organizational Leader Individual Contributor Manager the Bounce © Copyright Business Learning Institute 2017
  47. • I am concerned between your (I believe correct) view of the need for border- crossing skills and the emphasis the structures of the industry (eg FASB, regs, etc.) put on narrow technical expertise and the lack of broader vision at the industry standard-setting and leadership levels. • The list of top 7 skill sets we need in the future. And not limited to new college grads. • L>C2 Proactive and Anticipatory Skills
  48. blionline.org/ao KNOW WHAT’S NEXT Transform Planning Ø Identify Hard Trends Ø Identify Soft Trends Ø Predicting Change Ø Transformation Influencers DEVELOP OPPORTUNITIES Transform Innovation Ø 8 Hard Trend Pathways Ø Accelerating Innovation Ø Anticipating Customer Needs Ø Game-changing Opportunities SHAPE THE FUTURE Transform Culture Ø The Power of Futureview Ø Leveraging Disruption Ø Using Certainty to Sell Ø The Collaboration Imperative ACCELERATE SUCCESS Transform Results Ø Elevating Trust Ø Time Travel Audit Ø Skipping Problems and Barriers Ø Reward Desired Behaviors THE ANTICIPATORY ORGANIZATION™ MODEL An Innovation and Transformation Accelerator
  49. IBM – MACPA-BLI Partnership Keeping you Future Ready https://bdu.blifutureready.org
  50. Become #FutureReady: The Four Building Blocks Mindset Anticipatory Skills Collaboration Skills Confidence Source: Joey Havens, HORNE LLP
  51. "The Anticipatory Organization Learning System helps establish a mindset, a common language and eventually a culture of being anticipatory for our clients. By making this anticipatory skillset a core strength of our teams, it brings creative and new ideas that make us more valuable to our clients and it creates a game changer for our firm.” -Joey Havens Executive Partner, HORNE LLP Top 50 CPA Firm
  52. Closing Thoughts
  53. Confidential – Internal Use Only Culture = Mindset, Skillset, and Toolset In order to remain competitive, to stay relevant, even to survive in this age of exponential change, HBK must adopt an anticipatory mindset, a ‘future view’ based on the hard trends we see shaping our future, and use those insights to help our clients capitalize on the opportunities that accompany digital disruption. Learning to anticipate and adjust to this new age in financial services is significantly changing the way our team members think, allowing us to be future-ready, ensuring we will be even more relevant as trusted advisors to our clients." Christopher Allegretti, CPA, Managing Principal and CEO of HBK. www.blionline.org/ao
  54. Get ready for the fast future RONI? Rebekah Brown, CPA The Business Learning Institute
  55. If we fail, it’s not because our machines are too intelligent, or not intelligent enough. If we fail, it’s because we grew complacent and limited our ambitions. Our humanity is not defined by any skill, like swinging a hammer or even playing chess. There’s only one thing a human can do. That’s dream. So let us dream BIG! Garry Kasparov – TED Talk
  56. If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today Tom Hood, CPA, CITP, CGMA • CPA Practice Adviser Accounting Hall of Fame • Named the Second Most Influential in Accounting by Accounting Today Magazine 2011-present • Top 100 Influencer by LinkedIn (700,000+ followers) • Member of the Forbes Finance Council • Top 25 Influencers in Learning & HR by HR Examiner • Top 25 Public Accounting Thought Leaders by CPA Practice Adviser CEO Maryland Association of CPAs (MACPA) macpa.org Business Learning Institute (BLI) blionline.org linkedin.com/in/tomhood
  57. The Anticipatory CPA Firm - WORKSHOP
  58. Innovation Survey from Major Firms & Firm Associations 87% Critical & Very Important 63
  59. How good is your organization at innovation? 33% say they are Innovative 64
  60. Primary Challenges to Innovation 1. Legacy thinking 2. Fear 3. Lack of compelling vision and why 4. Lack of alignment in partner group 5. Past success 65
  61. Innovation in CPA Firms • Developing new offerings that expand the value we provide to our existing clients • Implementing a new offering for a specific market segment we believe has growth • Developing new offerings or approaches to the market that attract new clients • Realizing value to the firm from existing innovation investments • Updating current offerings to be more competitive • Deciding and moving forward on what our innovation priorities should be • Implementing a cloud-based practice management system 66
  62. How we make the case for change & increase buy-in and alignment D x V x F > R 67
  63. blionline.org/ao KNOW WHAT’S NEXT Transform Planning Ø Identify Hard Trends Ø Identify Soft Trends Ø Predicting Change Ø Transformation Influencers DEVELOP OPPORTUNITIES Transform Innovation Ø 8 Hard Trend Pathways Ø Accelerating Innovation Ø Anticipating Customer Needs Ø Game-changing Opportunities SHAPE THE FUTURE Transform Culture Ø The Power of Futureview Ø Leveraging Disruption Ø Using Certainty to Sell Ø The Collaboration Imperative ACCELERATE SUCCESS Transform Results Ø Elevating Trust Ø Time Travel Audit Ø Skipping Problems and Barriers Ø Reward Desired Behaviors THE ANTICIPATORY ORGANIZATION™ MODEL An Innovation and Transformation Accelerator
  64. blionline.org/ao
  65. blionline.org/ao
  66. Everyday Innovation - ‘ers’ Faster – Better - Cheaper Differentiating Innovations (Products / Services) Transformational Innovation Leadership Innovation (Culture) You Can’t Innovate Here Without These in place Future-Ready Mindset BLI Innovation Framework tm Inspired by the work of Gary Hamel, The Future of Management BLI Innovation Framework © Copyright Business Learning Institute 2017
  67. Everyday Innovation - ‘ers’ Faster – Better - Cheaper Differentiating Innovations (Products / Services) Transformational Innovation Leadership Innovation (Culture) You Can’t Innovate Here Without These in place Future-Ready Mindset BLI Innovation Framework Inspired by the work of Gary Hamel, The Future of Management BLI Innovation Framework © Copyright Business Learning Institute 2017 Implement AOAF Learning by Industry Groups to capture trends/opportunities and applying AOAF to each industry AOAF accelerates the proactive culture and creates the positive mindset AOAF provides the learning to support ‘everyday innovation’ Using AOAF with Strategic Planning at Board/Partner Level creates game-changing opportunities 72
  68. •Sleeter Group Survey, 2014 •Clients switch firms because they do not get proactive advice, only reactive (historical) services. The #1 reason why clients switch firms
  69. Business Events Data Information Knowledge Decisions 1. Communicating with clarity and objectivityCPAs are trusted advisors who enable people and organizations shape their future, Combining insight with integrity, CPAs deliver value by: ENVISIONED FUTURE 2025 2. Translating information into knowledge 3. Anticipating and creating opportunities 4. Designing pathways to transform vision to reality
  70. blionline.org/ao Business Events Data Information Knowledge Decisions Static Actionable Wisdom Value Guiding Principles Future-focused AnticipatorySource: CPA Horizons 2025 Project
  71. www.blionline.org One Idea per Sticky Write large & clear with a Sharpie Be Specific – No One-Word Stickies Management By Sticky Note Like it, Love it OR Live with it Appoint a Scribe for each table
  72. Capturing The Insights from Tom’s Presentation www.blionline.org Think about what you heard during Tom’s presentation and what it means for you, for your FIRM and for your clients. Use the worksheet to jot down your ideas and insights. Collaborative Discussion – Each table discuss & identify your three biggest insights: 1. Key insight for yourself. 2. Key insight about the firm 3. Key insight for your clients = 3 sticky notes per table Progressive Post – One representative from each table posts ideas on the wall -- four groups Report-outs – Each of the 4 groups will share three key insights with the full group.
  73. Hard Trends Exercise
  74. Hard Trends, Opportunities, Predictable Problems 1. Identify 3 HARD TRENDS that will be most impactful to your Industry Group. = 3 Sticky Notes • Start with the words “Increasing” or “Decreasing” • Remember a Hard Trend is a FUTURE FACT and falls in one of three categories: • Demographics • Technology • Government / Regulation 1. Identify an OPPORTUNITY associated with each Hard Trend = 3 Sticky Notes 2. Identify the PREDICTABLE PROBLEM associated with each Hard Trend = 3 Sticky Notes • A predictable problem is the challenge you will face if you ignore the hard trend and do nothing about it.
  75. Some Examples Hard Trend Opportunity Predictable Problem Increasing use of AI & Machine Learning in Audit 100% Sampling, Increased analytics and decreased staff costs Competition could beat us in price and differentiation Increase in Baby boomers retiring Increased need for retirement, wealth and succession planning for clients Loss of clients if other firms do it and we don’t Increase in tax implications of TCJA and Supreme Court Sales Tax case SALT services for clients and planning opportunities with our insights Clients will seek others if we don’t do this Increase in cloud accounting systems and apps Significant efficiency from automatic accounting apps, data analytics for clients CAS & outsource CFO are fastest growing firm services and our competition will get ahead of us Increase in cloud practice management systems & apps in CPA firms Cloud allows efficiencies and remote access by our teams Firm team members view firm as using obsolete technology and may look at other firms
  76. Background BLI is leading the transformation of the profession by future-readying organizations and future-proofing careers.
  77. www.blionline.or g
  78. What we do

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