strategy

the profession disrupted: compliance commoditized

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house on crack shows housing market declinethe accounting profession globally is being disrupted right now and most accountants don’t even know it is happening.

by rob nixon

there are three main areas that are being disrupted in the profession:

  1. compliance is being commoditized by technology,
  2. labor is being sourced from less expensive countries and
  3. clients are using the internet for your advice.

these three market forces will only escalate, and if you do nothing about it, revenue, profit and business value will erode.

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harry moehringer at marks paneth: growth through talent and acquisitions

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sharing skills and knowledge with the next generation of leadership.

harry moehringer, managing partner of marks paneth
harry moehringer, managing partner of marks paneth

 

by 卡塔尔世界杯常规比赛时间 staff

harry moehringer, managing partner of marks paneth, the nation’s 34th largest accounting firm, expects the business to grow by deepening the expertise in its specialty services while it also reaches out further to attract younger professionals and staff workers.

imgmpslogomore from the corner office:  shape-shifting at jim cunningham’s warren averett | henry & horne offers flex time, loans to future cpas | lee beall: finding next-gen leaders at rea & assoc. | joe kask leads ‘paradigm shift’ at blumshapiro | ceo charles weinstein: eisneramper targets work-life balance | hbk’s allegretti says firm must stress excitement factor | lou grassi focuses on recruiting, retention at namesake n.y. firm | richard berkowitz drives berkowitz pollack brant to ‘warp speed’ | randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent |the robo-cpa: jim sikich prepares for disruptive technologies |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

“the most important issue facing accounting firms like ours is creating an environment that fosters long-term organizational growth and prosperity,” he says. “this requires recognizing that, as the baby boom generation continues to age and retire, high-level knowledge and expertise in the profession will need to transition to dynamic and younger owners of the firm.”

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why the partner agreement matters

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illuminated glass pyramid at the louvre, paris at nightmany agreements have long outlived a reasonable foundation for the firm’s current success level and size.

by bill reeb and dominic cingoranelli

most of the time when we are called in to work with firms, it is to help them plan for or implement significant change. the dialogue may start out with a general firm retreat, or it might simply be a session devoted to solving a few specific problems.

more on performance management: younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | make accountability a process | accountability requires clear expectations | base retirement on today’s operations

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

visionary firms are always looking to make changes long before their operating environment forces them to, from enhancing their ability to compete, making changes to improve profitability, building infrastructure to support succession, upgrading their people development, modifying the compensation process, increasing revenues and more.
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six measures of partner performance

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yellow retractable steel tape measureit’s time to use the balanced scorecard.

by domenick j. esposito
8 steps to great

once the basic compensation pools have been established, your partners need to understand how they can “win” and get rewarded.

more on strategic planning: how to drive partner performance with a smart compensation plan | develop the partners you already have | how many partners do you need? | how to develop tactics for your strategic plan | the big eight: harsh realities for firms today

 

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each individual’s balanced scorecard will be the basis of performance measurement. i recommend six areas for evaluation:
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shape-shifting at jim cunningham’s warren averett

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when your biggest competitors aren’t always cpa firms, you need to re-define who you are.

jim cunningham, chief executive officer of warren averett cpas
jim cunningham, chief executive officer of warren averett cpas

by 卡塔尔世界杯常规比赛时间 staff

success for accounting firms may depend on their recruitment of non-cpas to handle some specialized business advisory services, according to jim cunningham, chief executive officer of warren averett cpas and advisors, the nation’s 27th largest accounting firm.


more from the corner office:  henry & horne offers flex time, loans to future cpas  |  lee beall: finding next-gen leaders at rea & assoc. | joe kask leads ‘paradigm shift’ at blumshapiro | ceo charles weinstein: eisneramper targets work-life balance | hbk’s allegretti says firm must stress excitement factor | lou grassi focuses on recruiting, retention at namesake n.y. firm | richard berkowitz drives berkowitz pollack brant to ‘warp speed’ | randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent | the robo-cpa: jim sikich prepares for disruptive technologies |
yellow_key_clip_art-e1375897299811exclusively for pro members. log in here or 2022世界杯足球排名 today.

“we should want our clients to truly value us, which means choosing us for discretionary services as things arise, rather than just turning to us for something that needs to get done,” says cunningham.

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how to drive partner performance with a smart compensation plan

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dollar being built of blockshow to use compensation as a way of running your firm.

by domenick j. esposito
8 steps to great

“show me your compensation plan and i’ll show you your strategy.”
– dom esposito

as you strive to become a mid-market sustainable brand, your firm needs to become a performance-driven organization if you want to take advantage of future opportunities and drive growth and profitability. an effective performance management and compensation plan (pmcp) is critical to making your firm’s strategic plan a reality.

more on strategic planning: develop the partners you already have | is hr ready for your partner pipeline? | is your pyramid upside down? | taking a balanced scorecard to your partners | seizing the $10 trillion opportunity

the basic premise is that compensation rewards first look to:
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four-part plan to re-ignite revenue growth

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sprout growing on money pile of glass jar banknew times call for new expansion strategies.

by gale crosley

it’s been a long slog, but we finally see the light at the end of the tunnel known as the great recession. both job creation and the gross domestic product are robust. interest rates remain low, and the stock market is showing solid gains.

more by gale crosley: not all fish need audits  |  the 4 new growth engines in today’s marketplace  |  change catches up with auditors  |  the 6 elements to sustainable growth for cpa firms  | jody padar’s new vision for the ‘new accounting’  |  reality check: achieving world-class growth requires real-world intelligence  |  crosley: the new growth evolution  |  expand your vision and expand your business  |  leveraging leadership: a new way of looking at growth  |  are you creating a sustainable firm?  |  don’t confuse marketing with a true growth strategy  |  overcoming four imaginary barriers that limit cpa firm growth  |  how firms unleash the power of diamonds, cash cows and fat cats  |  how smart firms use market research  |  got leads? get real. learn how to qualify big opportunities  |  it’s a new generation in lead generation  |  at the best firms, growth is no accident  |  four keys to success at seiler cpas  |  how accounting firms are re-building their sales pipelines  |  how to get started on ifrs in one easy step  |  [pro member exclusive. log in required.]

video: the three elements of growth strategy  |  defining the new business model  |  the 3 hallmarks of the ‘new accounting’ business

while these bright spots are welcome, i urge firm leaders not to be lured into believing that it’s back to business as usual. the light at the end of the tunnel may look like, well, light. but the market conditions illuminated by that light are substantially different from those of the pre-recession environment.

what’s changed? nearly everything, from an upsurge in globalization to stiffer competition, increased standards and regulations, more specialization and a growing reliance on technology. today, clients can engage cpa firms around the corner or around the globe. just because you’re in the neighborhood doesn’t mean you’re in the running. read more →

develop the partners you already have

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seven businesspeople having discussion at tableare your expectations realistic?

by domenick j. esposito
8 steps to great

once you have attracted a new partner or a lateral, the next question is: “what do i need to do to develop my existing partners?”

more on strategic planning: 3 tools to boost your metrics | start with sound firm governance, economics | as tax season ends, strategic planning seasons begins | learning to ‘run with the big dogs’

here is where i find so many ceos, managing partners and other senior partners falling short.
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more merger questions than you imagined

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business group of two women and two men shaking handsthere’s a lot to consider whether merging up, down or laterally.

by bill reeb and dominic cingoranelli

although we find that an internal ownership transition often can be your best bet, a merger makes sense in many cases. so, if this is the direction you are heading, we’ve highlighted some of the issues below that we think you ought to consider, with the first one being to really take a close and hard look at the compatibility of the organizations courting each other.

more on performance management: how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | make accountability a process | accountability requires clear expectations | base retirement on today’s operations

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

who is a likely candidate for a merger?

if you are going to consider a merger, which firms would seemingly be a good fit for your practice – i.e., your clients and your employees and if, applicable, partners?  the better the fit, the more likely you will be able to retain clients and employees, and the greater the chance for overall success of the merged firms.
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why would anyone want to be your partner?

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businessman in black suit straightening necktiehow to attract new partners, including laterals.

by domenick j. esposito
8 steps to great

as ceo, ask yourself this tough question: why would someone want to be a partner in your firm?

more on strategic planning: 3 tools to boost your metrics | how many partners do you need? | is your pyramid upside down? | taking a balanced scorecard to your partners | seizing the $10 trillion opportunity | learning to ‘run with the big dogs’

do you have a good answer?
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merging for all the wrong reasons

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jigsaw puzzle with pieces missing and word "incomplete" in gapfirst: get your house in order; don’t expect someone else to do it for you.

by bill reeb and dominic cingoranelli

for at least the past 10 years, the merger market among cpa firms has been pretty active. while the market volume has waxed and waned a little several times during this period, mergers have been a topic in almost every strategic planning retreat we have facilitated.

more on performance management: how to compensate your managing partner | mps: how to elect them … and fire them | partners as role models: the good, bad & ugly | managing the managing partner | pay varies when performance varies | accountability is for everyone | who decides what?

 

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

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is hr ready for your partner pipeline?

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the head hunter and human resources workforceincludes implications during transition, structure for the future and critical success factors.

by domenick j. esposito
8 steps to great

“if you pick the right people and give them the opportunity to spread their wings – and put compensation as a carrier behind it – you don’t have to manage them… this whole game of business revolves around one thing: you build the best team, you win.”

– jack welch
former ceo of general electric

now that you are equipped with a strategic plan that is realistic and focused on implementation and accountability, and you have a sound governance and economic model, let’s chat about what else it takes to build a mid-market sustainable brand.

more on strategic planning: 3 tools to boost your metrics | how many partners do you need? | how to develop tactics for your strategic plan | the big eight: harsh realities for firms today

it begins by recognizing that all partners are not created equal. you need a combination of
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