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Technology Outlook 09.12.13

Technology Outlook 09.12.13. Jim Boomer, CPA.CITP, CGMA, MBA www.boomer.com j im.boomer@boomer.com. Agenda. The Profession Today. Updated 08/30/13. Metrics. Fiscal Year. FTE = 2,080 hours. Metrics. Firms continue on the path to recovery…although it was hard work Compressed tax season

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Technology Outlook 09.12.13

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  1. Technology Outlook09.12.13 Jim Boomer, CPA.CITP, CGMA, MBA www.boomer.com jim.boomer@boomer.com

  2. Agenda

  3. The Profession Today

  4. Updated 08/30/13 Metrics Fiscal Year FTE = 2,080 hours

  5. Metrics • Firms continue on the path to recovery…although it was hard work • Compressed tax season • Reduced staff numbers • Technology spend is down as firms take a “wait and see” approach • We will likely see a flattening or decline in financial numbers as staffing #’s catch up to financial performance

  6. Our FY2012 technology spend: • Increased • Remained Flat • Decreased • I don’t know

  7. Leading Trends • Succession/ Talent Development • Cloud Opportunities • Mobile Devices/ Consumerization • Remote Workforce • Desktop Video Conferencing • Electronic Signatures • Growth in Advisory Services • Mergers & Acquisitions • Process Improvement • Role of the IT Leader

  8. A Storm is Brewing • 78 million Baby Boomers approaching retirement age • Only 50 million in Generation X won’t offer one-to-one replacement • Leaves Gen Y & Millennials to fill the gap

  9. Cloud & Mobile

  10. Cloud Progress

  11. What’s Holding Many Back?

  12. General Trends • Momentum building • Attitudes are changing • Business Leaders • IT Professional • Vendors were pushing the message & now are trying to keep up

  13. In-House Data Center Apple IBM Infrastructure Systems Applications Integration Hosted Solutions Network Engineering Processes/Workflow Backups Spam/Virus Web 2.0 Software Virtualization Privacy - Security Software Updates Device Independent Bandwidth Subscriptions Email Innovation - Revenue Licenses

  14. Cloud Computing More focus as an agent to facilitate efficiency rather than as a transformational force Very few think the cloud is going away Accenture Survey

  15. Cloud Computing It’s commodity applications that shift to the cloud first CDW

  16. Specific Cloud Trends • Hybrid Cloud Growth • Increased focus on Cloud Security • Growth of Mobile Cloud • Bring Your Own Cloud (BYOC) Boom • Increased focus on SLA • Increased focus on openness & integration

  17. Mobile BYOD MDM BYOT Policies BYOA Security

  18. Consumerization of IT

  19. What is Consumerization of IT? “The emergence of consumer markets as the primary driver of information technology innovation is seen as a major IT industry shift, as large business and government organizations dominated the early decades of computer usage and development.” - Wikipedia “The growing tendency for new information technology to emerge first in the consumer market and then spread into business and government organizations.” - Wikipedia

  20. The Way Things Used To Be! • New technologies started in business markets until the products commoditized and prices fell.

  21. Evolution of iDevice

  22. What Does This All Mean? The Consumerization trend is all about driving innovation in technology from the perspective of the individual consumer or employee. • Businesses must rethink how they procure and manage IT equipment/services • A dependency has developed between businesses and many of the consumerized services (search, mapping & social media) • Will advertising-based services infiltrate the core systems (email, CRM, intranets, etc.) • Challenges with providing enterprise level security on consumer grade products and services

  23. Consumerization of IT Today • Mobile Devices • Mobile Apps • Enterprise App Store • Collaboration Revolution • Cloudy Expectations • Work-from-Home • Walking in User’s Shoes • Rapid Innovation & Prototyping • Fun on the Job • Consumerization in other Industries Source: 2013 HorizonWatching Trend Report

  24. Mobile Device Management Platforms

  25. http://www.enterpriseios.com/wiki/Comparison_MDM_Providers

  26. Work is what you do, not where you go!

  27. Mobile Workforce Challenged • Reining in remote workers & flexible work arrangements • We see it continuing to grow and expand

  28. The New Face of Collaboration GOT BANDWIDTH?

  29. Rules of video – Come as you are

  30. Toolkit essentials Source: CIO.com – Bosses Without Borders: Essential Tools for Managing Remote Employees - http://tinyurl.com/jwg8kbu

  31. For CPA Firms

  32. Electronic Signatures

  33. Does your firm allow employees to work from home? • Yes, open to everyone • Yes, open to select individuals • No but we are considering • No and no plans to do so

  34. New Opportunities

  35. Advisory Services

  36. Moving from Compliance to Advocacy Bill Payment Financial Reporting Reconciliations QB Support Tax Advisory Services Strategic Planning Succession Planning Sourced CFO Estate Planning Budgeting Cashflow Payroll - HR Value-Add Transactional Services

  37. Moving from Compliance to Advocacy Advocacy Value to Client Compliance

  38. Bundling – Provide Options!

  39. Basic Premium Corporate Starting at… $$$ Starting at…$$$$ Starting at…$$$$$ Bill Payment Financial Reporting Tax Return Bill Payment Financial Reporting Tax Return Tax Planning Sales Tax Payroll Bill Payment Financial Reporting Tax Return Sales Tax Payroll Budgeting Cash Flow Insurance Review Succession Planning Estate Planning Strategic Planning Accountability Review Unlimited phone/email

  40. State of CAS Interest Early Market Execution Tornado

  41. Primary Challenges • Champion • Shift in Mindset • Assurance vs. Advisory • Historical Perception of Bookkeeping • Building the team (resource allocation) • Change Management • Disruptive Technology

  42. Moving from Compliance to Advocacy • Barriers • Politics/ Leadership Buy-in • Change Management • Historic Perception of Client Accounting Resource Commitment • Enablers • Technology/Cloud • Integrated Solutions • Value Pricing • Niche Focus • Entrepreneurial Mindset • Growth Focus

  43. Is your firm leveraging the cloud for Client Accounting/Advisory Services? • Yes • No but planning to do so soon • No and no plans to do so

  44. What’s Old is New Again!

  45. Strategic Implications

  46. $500-$1,000/Mo/Person

  47. A New Way of Working

  48. Lean Six Sigma Reduced to the most fundamental of definitions, “Lean is the purposeful elimination of wasteful activities”. • Lean • Making a process more efficient • Gaining capacity in a process • Speeding up the throughput of a process • Six Sigma • Making a process that rarely produces defects or quality issues • Higher quality • Remove variation as much as possible Six Sigma is a business problem-solving model designed to improve profitability by improving quality and eliminating variation.

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