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Think, Plan, Grow!™
Jim Boomer, CPA.CITP, CGMA, [email protected]
Think, Plan, Grow! ™
Jim BoomerCPA.CITP, CGMA, MBA• Shareholder and CIO at Boomer
Consulting, Inc.• Director of the Boomer Technology
Circles, CIO Advantage & ProducerCircle
• Chair of AICPA’s Tech+ Conference andpast member of CITP CredentialsCommittees
• Named by CPA Practice Advisor asone of the Top 25 Thought Leaders and40 Under 40 in Public AccountingTechnology
• Named by Accounting Today as “oneto watch” on the annual list of the Top100 Influential People in the AccountingProfession
• Member of KSCPA Board of Directors
Think, Plan, Grow! ™
LeadershipLeadership
StrategicPlanning
Accountability
The CEOAdvantage
TalentTalent
P3 LeadershipAcademy
Kolbe Index
SynergisticTeam Building
GrowthGrowth
The ProducerCircle
Packaging &Pricing
Five StarCustomer
Service
TechnologyTechnology
IT Roadmap
The BoomerTechnology
Circles
The CIOAdvantage
C o m p e n s a t i o n
Think, Plan, Grow! ™
Think, Plan, Grow!™
Think, Plan, Grow! ™
Think, Plan, Grow! ™
2009 2010 2011 2012 2013Revenue per FTE $138,859 $143,685 $152,775 $173,774 $173,855
Average hourly Rate $140 $146 $152 $171 $168
% Chargeable 47.8% 47.5% 48.2% 48.9% 49.7%
% of Revenue Invested inTechnology
6.0% 6.4% 6.5% 5.7% 5.7%
Investment in Technology perCharge Hour
$8.45 $9.34 $9.88 $9.82 $9.56
Ratio of IT Personnel to End Users 1-35 1-32 1-33 1-32 1-32
Fiscal Year
FTE = 2,080 hours
FY2013Results
Think, Plan, Grow! ™
2009 2010 2011 2012 2013Average hourly rate $140 $146 $152 $171 $168Investment in technology percharge hour
$8.45 $9.34 $9.88 $9.82 $9.56
Assume a multiple of 3.5 times ontechnology
$29.58 $32.69 $34.58 $34.37 $33.46
Net hourly rate, excludingtechnology
$110.42 $113.31 $117.42 $136.63 $134.54
Fiscal Year
FY2013Results
FTE = 2,080 hours
Think, Plan, Grow! ™
• FY2012 saw many firms staffed verylean with led to large jumpincreased hiring led slight decline inFY2013
• Continued wait-and-see approachflat trend on technology spend– Main drivers – leadership, current
applications & infrastructure life cycle
Think, Plan, Grow! ™
A. IncreasedB. Remained FlatC. DecreasedD. I don’t know
Think, Plan, Grow! ™
• Succession/ TalentDevelopment
• 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
Think, Plan, Grow! ™
• 78 million Baby Boomers approachingretirement age
• Only 50 million in Generation X won’toffer one-to-one replacement
• Leaves Gen Y & Millennials to fill the gap
Think, Plan, Grow! ™
Think, Plan, Grow! ™
• Don’t Fail to Plan• Nurture Emerging Leaders• Bow Out Gracefully• Codify the Firm• Don’t Put All the Eggs in One Basket• Remember the Big Picture
Think, Plan, Grow! ™
Think, Plan, Grow! ™
• Momentum building• Attitudes are changing
– Business Leaders– IT Professional
• Vendors were pushing the message &now are trying to keep up
Think, Plan, Grow! ™
Think, Plan, Grow! ™
ITEcosystem
Clients
ConsumerIT
Cloud
Gov’tRegulation
GlobalMarkets Plan
Platform
Pricing
People
Processes
#btcsummit2014
Think, Plan, Grow! ™
Think, Plan, Grow! ™
Leadership, clients and firm size all play arole in finding the right balance.
Think, Plan, Grow! ™
Think, Plan, Grow! ™
More focus as an agent to facilitate efficiencyrather than as a transformational force
Accenture Survey
Very few thinkthe cloud isgoing away
Think, Plan, Grow! ™
It’s commodity applications that shift tothe cloud first
CDW
Think, Plan, Grow! ™
The Rise of The
Cloud Ecosystem
#btcsummit2014
Think, Plan, Grow! ™
Solution
• Focused on one ora few pain points
• Not attempting tobe everything toeveryone
Feature Gaps
#btcsummit2014
Think, Plan, Grow! ™
Best of Both Worlds…And Freedom!
+
#btcsummit2014
Think, Plan, Grow! ™#btcsummit2014
Think, Plan, Grow! ™
400+
Building Out 74+
120+
#btcsummit2014
Think, Plan, Grow! ™#btcsummit2014
Think, Plan, Grow! ™
1. Hybrid Cloud Growth2. Increased focus on Cloud Security3. Growth of Mobile Cloud4. Bring Your Own Cloud (BYOC) Boom5. Increased focus on SLA6. Increased focus on
openness & integration
Think, Plan, Grow! ™
A. We are 100% in the CloudB. We are trying to move to the Cloud
but aren’t fully there yetC. We are trying to move to the Cloud
but haven’t startedD. We have no plans to move to
the Cloud
Think, Plan, Grow! ™
MDMBYOD
BYOT
BYOA
Policies
Security
Think, Plan, Grow! ™
Think, Plan, Grow! ™
“The growing tendency for newinformation technology to emergefirst in the consumer market andthen spread into business andgovernment organizations.”
- Wikipedia
“The emergence of consumermarkets as the primary driver ofinformation technology innovation isseen as a major IT industry shift, aslarge business and governmentorganizations dominated the earlydecades of computer usage anddevelopment.”
- Wikipedia
Think, Plan, Grow! ™
• New technologies started in business marketsuntil the products commoditized and prices fell.
Think, Plan, Grow! ™
Think, Plan, Grow! ™
• Businesses must rethink how they procure andmanage IT equipment/services
• A dependency has developed between businessesand 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
The Consumerization trend is all about driving innovation intechnology from the perspective of the individual consumeror employee.
Think, Plan, Grow! ™
Think, Plan, Grow! ™http://www.enterpriseios.com/wiki/Comparison_MDM_Providers
Think, Plan, Grow! ™
Think, Plan, Grow! ™
• Reining in remote workers & flexiblework arrangements
• We see it continuing to grow andexpand
Think, Plan, Grow! ™
Think, Plan, Grow! ™
Think, Plan, Grow! ™
Category SolutionsFeedback Tools 15Five, Good Old Fashioned PhoneProject Management Basecamp, Asana, WORKetc., smartsheetFace-to-Face VirtualMeetings
Google+ Hangouts, Zoom, GoToMeeting,MS Lync, 8X8
VOIP 8x8, ShoreTel, CiscoExpenses Tallie, Concur, ExpensifyBill Payment, Invoicing Bill.comStill Lacking Trust? TransparentBusiness
Source: CIO.com – Bosses Without Borders: Essential Toolsfor Managing Remote Employees - http://tinyurl.com/jwg8kbu
Think, Plan, Grow! ™
For CPA Firms
Think, Plan, Grow! ™#btcsummit2014
Think, Plan, Grow! ™
A. Yes, open to everyoneB. Yes, open to select individualsC. No but we are consideringD. No and no plans to do so
Think, Plan, Grow! ™
Think, Plan, Grow! ™
Think, Plan, Grow! ™
TransactionalServices
AdvisoryServices
Valu
e-Ad
d
Strategic PlanningSuccession PlanningSourced CFOEstate PlanningBudgetingCash flowPayroll - HR
Bill PaymentFinancial ReportingReconciliationsQB SupportTax
Serv
ices
Serv
ices
Level 3 - AdvisoryStrategic $$$
Level 3 - AdvisoryStrategic $$$
Strategic PlanningStrategic Planning
SuccessionPlanning
SuccessionPlanning Trusted AdvisorTrusted Advisor Foresight-ProgressForesight-Progress
Mergers &AcquisitionsMergers &
Acquisitions
Level 2 - AdvisoryPerformance $$
Level 2 - AdvisoryPerformance $$
Business AdvisoryBusiness Advisory
Wealth AdvisoryWealth Advisory Trusted AdvisorTrusted Advisor Insight-ProgressInsight-Progress
Family OfficeFamily Office
Level 1Compliance $
Level 1Compliance $
TaxTax
AssuranceAssurance Technical AdvisorTechnical Advisor Hindsight-PerfectionHindsight-Perfection
AccountingServices
AccountingServices#btcsummit2014
Think, Plan, Grow! ™
Think, Plan, Grow! ™
Bill PaymentFinancial ReportingTax Return
Bill PaymentFinancial ReportingTax ReturnTax PlanningSales TaxPayroll
Bill PaymentFinancial ReportingTax ReturnSales TaxPayrollBudgetingCash FlowInsurance ReviewSuccession PlanningEstate PlanningStrategic PlanningAccountability ReviewUnlimited phone/email
Starting at… $$$Starting at… $$$ Starting at…$$$$Starting at…$$$$ Starting at…$$$$$Starting at…$$$$$
Basic Premium Corporate
Think, Plan, Grow! ™
ExecutionInterestEarly Market
Tornado
Think, Plan, Grow! ™
• Champion• Shift in Mindset
– Assurance vs. Advisory– Historical Perception of Bookkeeping
• Building the team (resource allocation)• Change Management• Disruptive Technology
Think, Plan, Grow! ™
• Enablers– Technology/Cloud– Integrated Solutions– Value Pricing– Niche Focus– Entrepreneurial
Mindset– Growth Focus
• Barriers– Politics/ Leadership
Buy-in– Change
Management– Historic Perception
of Client Accounting– Resources
Think, Plan, Grow! ™
A. YesB. No but planning to do so soonC. No and no plans to do so
Think, Plan, Grow! ™
$500-$1,000/Mo/Person
Think, Plan, Grow! ™
Think, Plan, Grow! ™
• Lean– Making a process more efficient
– Gaining capacity in a process
– Speeding up the throughput of aprocess
• Six Sigma– Making a process that rarely
produces defects or quality issues
– Higher quality
– Remove variation as much aspossible
Reduced to the mostfundamental of definitions,
“Lean is the purposefulelimination of wasteful
activities”.
Six Sigma is a businessproblem-solving model
designed to improveprofitability by improving
quality and eliminatingvariation.
#btcsummit2014
Think, Plan, Grow! ™
Data Entry
Scan-and-Populate
Book-to-Tax
#btcsummit2014
Think, Plan, Grow! ™
Think, Plan, Grow! ™
Leadership - Culture – Technology
Think, Plan, Grow! ™
• Managing the services• Integration & workflow• Processes – more involved in the
business and less on the hardware• Tightly aligned with Training &
Learning Professional• Innovative and strategic
Think, Plan, Grow! ™
Think, Plan, Grow!™
Jim Boomer, CPA.CITP, CGMA, [email protected]