The Business Transformation Playbookwinning-is-everything.com/.../The_Business_Transformation_Playboo… · The Business Transformation Playbook Jim Boomer, CPA, CITP, CGMA, MBA Chief

12/4/2017

1

Communities l Consulting l Training

The Business TransformationPlaybookJim Boomer, CPA, CITP, CGMA, MBAChief Executive Officer

Arianna Campbell, LSS Black BeltConsultant


• CPA, CITP, CGMA

• Accounting Today Top 100

• CPA Practice Advisor's Top 25 Thought Leaders

• Director of the Boomer Technology Circles, TheAdvisor Circle and The CIO Circle for BoomerConsulting

• Co-Chair of AICPA ENGAGE TECH+ planningcommittee

• Immediate Past Chair of KSCPA board of directors

• Contact me at [email protected]!

• Twitter: @jimboomer

Chief ExecutiveOfficerBoomer

Consulting, Inc.

Jim Boomer


• Lean Six Sigma Black Belt

• P3 Leadership AcademyTM Facilitator

• Lead internal process improvement initiatives

• CPA Practice Advisor Top 25 Most PowerfulWomen in the Accounting Profession

• My Passion – Helping CPA firms navigate theircontinuous improvement journey!

• Contact me at [email protected]

• Twitter: @arianna_BCI

• LinkedIn: www.linkedin.com/in/ariannacampbell

ConsultantBoomer

Consulting, Inc.

Arianna Campbell

12/4/2017

2



Who We Are


Client Base

• Top 500 CPA firms in the U.S.• Strong relationships within Top

100 firms• CPA Firm Client Characteristics

• Successful• Desire to grow• Focused on future readiness

• Actively working with 40+Software providers to theaccounting profession

12/4/2017

3


Why CPA Firms Go To Boomer Consulting

To make you more successful and future ready.


What size is your firm?

a. Under $2Mb. $2M - $5Mc. $6M - $15Md. $16M - $30Me. Over $30M


What is your role?

a. Partnerb. Senior Manager / Managerc. Staffd. Non-Accounting Professional (Operations, Marketing, HR,

Technology, etc.)e. Other

12/4/2017

4


Agenda

• Transformation - Mindset• Playing Thru the Line• Cloud Ecosystem• The Business Capability Model• The Business Transformation Playbook• Your Action Plan


Transformation - Mindset


12/4/2017

5



Firm models are transforming

Drivers:

• Compliance

• Complexity

• Client Loyalty

Source: Accounting Today Top 100 Firms Survey 2010 and 2016

12/4/2017

6



The CPA MindsetThe Traditional CPA Business Transformation Agent

Assumptions Rationality, Objectivity, Realityas fixed and quantifiable

Subjective experience

Method Analysis aimed at proving onebest answer

Experimentation aimed towardsiterating a better answer

Process Planning Doing

Decision Drivers Logic, numeric models Emotional insight, Experience models

Values Pursuit of control and stability.Low tolerance for ambiguity.

Pursuit of Novelty.Dislike of status quo

Level of Focus Big Picture or Minute Details Iterative movement between the bigpicture and the details.

Viewpoint Hindsight Foresight


Elevate your thinking.

Com

plia

nce

Com

plia

nce Tax

AccountingTaxAccounting

Perfo

rman

cePe

rform

ance CFO

BusinessIntelligence

CFOBusinessIntelligence St

rate

gic

Stra

tegi

c PlanningSuccessionPlanningSuccession

…playing thru the line

The problem is never the problem, but rather how you think about the problem.

1.1X

12/4/2017

7


Exponential GrowthDay Amount

1 $ .01

7 $ .64

14 $ 81.92

21 $ 10,485.76

28 $ 1,342,177.28

31 $ 10,737,418.24


Hindsight

Foresight

Insight


“Clients today don’t know what theywant, because the things they mostwant are things they don’t yet know

are possible. Give your clients theability to do what they can’t currently

do, but would want to, if they onlyknew it was possible.”

--Daniel Burrus

12/4/2017

8


Bigger Future

Team Player

Willing to Change

Improve Processes

Life-long Learner

Growth

Connected



If you had a penny that doubled in valueevery day for 30 days, how much would itbe worth?a. $1,310.72b. $41,943.04c. $5,368,709.12d. $10,737,418.24e. $21,474,836.48

12/4/2017

9


Playing Thru the Line


The ChallengesChange-Complacency

The Continuum of Value…playing thru the line

Transactional Compliance Performance Strategic

Foresight

Insight

Hindsight

Innovation

Data Connectors

Knowledge Connectors} Accelerators

Capacity Capability

12/4/2017

10

Transactional Compliance Performance Strategic

Foresight

Insight

Hindsight

Innovation

BookkeepingPayrollBill Payment

Tax preparationAudit – ReviewFinancial Reporting

CFO ServicesData AnalyticsBenchmarkingBusiness AdvisoryLean Processes

Strategic PlanningSuccession PlanningMergers & Acquisitions

Data Connectors

Knowledge Connectors} Accelerators

Capacity Capability

The Continuum of Value…playing through the line


10 Differentiators

1. Rugged Individual2. Seasonal3. Hourly4. Reactive5. Hindsight6. Post mortem7. Report8. Focus on details9. Deliver a product10. Work with accounting personnel

1. Team Sport2. Non-seasonal3. Value4. Proactive5. Insight & Foresight6. Planning7. Anticipate8. Big Picture9. Support a process10. Work with leadership & ownership

Compliance Advisory


The Puzzle

Packaging& Pricing

TheTeam

Menu ofServices

Clients& Filters

UniqueProcess

Platform& Ecosystem

12/4/2017

11


ValueProposition

Menu ofServices

Strategic Performance Compliance Client buys what they want and need

TargetClients

Trusted Business Advisor Sourced Accounting and IT Cloud Based - SecureMobile Access - Collaborative

Packages Starting at...$______ 10 X Strategy Filters Niches

TheTeam

Processes

Leader Client Service Representative Unique Abilities Sources

Eliminate data entry Collaborate Lean 6 Sigma Think Real Time

The CAS RoadmapPackaging& Pricing

Value – Fixed FeeMatrix Pricing Upfront Conversations Value Creation Letters


Planning People Process

Technology Ecosystem

+ +

X

= High Performance

Formula for the Future Ready Firm

Accountability


Is Client Advisory Services part of yourfirm’s strategic plan?a. Yesb. Noc. We don’t have a strategic plan

12/4/2017

12


Cloud Ecosystem


What is a Cloud Ecosystem?

Solution

• Focused on one ora few pain points

• Not attempting tobe everything toeveryone

Feature Gaps


Why Cloud Ecosystem?

Sum of Parts > Value of Individual Apps

12/4/2017

13


Why Cloud Ecosystem?

Best of Both Worlds…And Freedom!

+


Open vs. Closed Architecture

• The open approach will win in theevolving cloud environment

• Those holding onto the closed,proprietary model will get left behind

• Long standing battle between open &closed

• Microsoft won the initial PC battle dueto consumers’ preference for choice


A New Phenomenon?

Encourage IndependentSoftware Vendors to build

solutions on enabling software.

Luring independent developersto build their apps on their

mobile platform.

12/4/2017

14


Business Capability Model


defines…

A business capability model as the way in whichcompanies combine systems, processes and theirenvironments to deliver value to their customers.


Planning People

Processes Platform

The P4CM

The Business Capability Model

12/4/2017

15


AccountabilityWhy

Vision – CEO & Leadership Team

Strategic Plan – COO, CIO & Executive Team

90-Day Game Plan – Management Team & Projects

Owne

rs-M

anag

emen

t–Cu

stom

ers-

Talen

t

OfficeRetail

CallCenter Online Mobile Email Social

Media IM Community

Marketing Sales

Legal - ComplianceTalent DevelopmentFinancial

Services & Products

Operations

The Experience(Client & Talent)

Technology Business CapabilityModel TM

Touch Points

Boom

er C

onsu

lting I

nc. 2

017

CapabilityHow

Back

Offic

eFro

nt O

ffice

Wha

t

111

1

2 3 4 5

6 7 8 9

InnovationOpportunities


AccountabilityWhy

Vision – CEO & Leadership Team

Strategic Plan – COO, CIO & Executive Team

90-Day Game Plan – Management Team & Projects

Owne

rs-M

anag

emen

t–Cu

stom

ers-

Talen

t

OfficeRetail

CallCenter Online Mobile Email Social

Media IM Community

MarketingLead GenerationBrand StrategyService OfferingsPricing

SalesOpportunity Mgmt.PipelineReferralsChange Orders-Renewals

Legal – ComplianceLicensingLeases - ContractsInsuranceBrand Management

Talent DevelopmentRecruitment & RetentionTalent DevelopmentPerformance Mgmt.Comp. - Compliance

FinancialGeneral Ledger & ReportingPayroll-BenefitsAccounts Payable-Bill Pay.Accounts Receivable/InvoiceForecasting/Data Analytics

Services & ProductsContact ManagementProject ManagementTax - AuditAdvisory

OperationsScheduling - WorkflowWorkforce ManagementOffice ManagementFacilities Management

The Experience(Client & Talent)

MobileSchedulingCommunication

TechnologyIT Road MapPlatform/App. ManagementSecurity/PrivacyInfrastructure

The Business CapabilityModel TM

Touch Points

Boom

er C

onsu

lting I

nc. 2

017

CapabilityHow

Back

Offic

eFro

nt O

ffice

Wha

t


Strategy

Capability

Execution

• 10 X vs. 1.1 X• Global vs. Local• Advisory vs. Compliance

• Awareness• Anticipatory Organization• Hard/Soft Trends

• Culture• Processes• Resources

12/4/2017

16


AO

Know What’s Next

Transform Planning

DevelopOpportunities

Transform InnovationShape theFuture

Transform Culture

AccelerateSuccess

Transform Results

From The Anticipatory Organization by Daniel Burrus


Does your firm have clients that couldbenefit from the Business CapabilityModel?a. Yesb. No


Business Transformation Playbook

12/4/2017

17


Making the shiftfrom complianceto advisoryrequires abusinesstransformation


What isBusinessTransformation?

Organic growth thatcomes from developingyour niche(s), enteringnew markets, retoolingyour skillsets,increasing profitabilityand expanding theservices you provide toyour clients.


The ObjectivesMeet the changing demands of clientsBuild upon the compliance andtransactional services that clients need toprovide that proactive advise they reallywant and valueMaintain relevance in a time of rapidtechnology evolution that is automatingmany of the core services

12/4/2017

18


The Obstacles

Creating a culture of innovation and newservice creationEvolving the firm's business model fromcompliance based to consultative basedDeveloping staff at all levels to be moreconsultative


The Solution

But how do firms really transform?With a plan and new skills!


www.boomer.com/btp

12/4/2017

19


Alignment – Tollgates

• Our firm has a shared vision.• Our firm has a current strategic plan.• Transformation Services are part of our plan

and vision.• We are tracking progress.• We have defined ways to measure success.


www.boomer.com/btp


Plan – Tollgates

• We know who the leader is.• We have a menu of services.• We know who is on the team.• We have identified our goal.• We have metrics to track our progress.

12/4/2017

20


www.boomer.com/btp


Training – Tollgates

• Gaps have been identified.• Training plans are in place.• We are ready to go to market.• We understand how to #FailForward and learn

from our mistakes.


www.boomer.com/btp

12/4/2017

21


Engage Clients – Tollgates

• Revenue is increasing.• We have a tracking system in place that provides

insight to what is work and what is not.• Our Technology Platform us to capture data

needed for analytics for our clients and the firm.• We have identified additional gaps that have been

created as we began working with clients in a morestrategic fashion.


www.boomer.com/btp


Repeat – Tollgates

• We have a plan to scale.• We know how we are progressing towards our

longer term strategic vision.• We have greater understanding on what consulting

services are growing and which ones are not.• We have systems of value that create foresight for

the firm and clients.

12/4/2017

22


Your Action Plan


A Simple Action Plan

1. Update firm’s vision & strategic plan Governance Growth – Service Lines & CAS Roadmap Talent – Unique Ability Teams Processes – Value Based Technology

2. Conduct process reviews3. Identify teams, champions & project managers4. Leverage knowledge, expertise and experience outside your firm5. Build a culture of accountability

Charlie “Tremendous” Jones: You will be the same person in fiveyears, except for the people you meet and the books you read.

12/4/2017

23

Questions?


• FACEBOOK: www.facebook.com/BoomerConsultingInc/

• TWITTER: @ThinkPlanGrow

• INSTAGRAM: @ThinkPlanGrow

• LINKEDIN: www.linkedin.com/company/boomer-consulting-inc-

Thank You

Our website is the best place to learn more about our services.Visit: www.Boomer.com


Documents

The Business Transformation Playbookwinning-is-everything.com/.../The_Business_Transformation_Playboo… · The Business Transformation Playbook Jim Boomer, CPA, CITP, CGMA, MBA Chief