the economist magazine describes blockchain as the most important advance in business record keeping since the innovation of double-entry bookkeeping, in florence, italy in over 500 years. but now, blockchain may eventually even replace double-entry bookkeeping.
a well-known practice management expert, whom i greatly respect, advises cpas to never tell clients that you don’t have time for them. i disagree with the never part. you know how it starts. on march 25th, the call comes in.
a request follows that could most certainly wait until after tax season. you are hip deep reviewing all the personal tax returns that got stuck in process while you climbed out of the march 15th corporate tax ditch. read more →
there’s hardly a business that will remain unaffected by blockchain technology.
^ play the video
with steven sacks
in blockchain basics for business, steve sacks interviews jack shaw on the elements of the technology, its early beginnings, the industries impacted, and the practical business applications.
jack shaw is an innovation and change management consultant, who has been voted one of the world’s top 25 speakers and one of the top 5 technology futurists. jack integrates his executive experience in industry, technology, and consulting to speak on innovation, change management, and transformational leadership. and, he has decades of experience designing, developing, and implementing emerging technologies and how these will impact business and society.
jack has advised key decision-makers at such fortune 500 organizations as mercedes benz, bosch, ge, coca-cola, johnson & johnson, ibm, oracle, and sap. jack has delivered over 1,000 keynote presentations and executive forums in 26 countries and every state across the u.s. he is a yale university graduate, and holds a kellogg mba degree specializing in finance and marketing.
jack’s expertise is in the strategic impact of leading-edge technologies, including blockchain technology, 5g, the internet of things and artificial intelligence. he can be reached at https://jackshaw.io
in the famous words of management guru peter drucker, “culture eats strategy for breakfast.” accounting firms are starting to get this message because now they are instituting initiatives that would have been laughed at years ago: a) every day is jeans day, b) shorts when there is no client meeting, c) work from home and d) reduced saturday hours during busy season. and on it goes …
attracting and retaining quality staff has become one of the top concerns for cpa firms that want to grow and remain competitive. salary is no longer the number one concern for today’s younger professionals. opportunity, responsibility, accountability and a well-defined career path are the motivators. firms are pulling out all the stops to attract professionals who will be viewed as tomorrow’s leaders. read more →
because of the accounting profession’s regulatory nature, firms have provided cpe in accounting, auditing and tax updates. why? because adherence to rules and standards is mandatory. but what about other areas to ensure that the firm’s professionals are given the tools and knowledge to perform at their optimal level? read more →
as we move from manual, to digital, to everything automated, bots are becoming an important part of how we transition from compliance services to high-value advisory services.
this article is the first in our five shifts series, which lays out five key shifts you need to take your business away from a high-volume model with long hours and unfulfilling work and toward monthly engagement of $3,000-$15,000 per client with $500+ hourly realization rates and a better quality of life.
the idea of reducing your dependence on compliance work may be radical for some accountants and familiar to others.
compliance work is the main source of income for many accountants, but unfortunately, it’s a high volume, low-profit ballgame. in order to be successful, you need to have flawless execution and massive leverage – if anything is out of place or goes awry, you won’t get the results you’re hoping for. read more →
with this post, 卡塔尔世界杯常规比赛时间 is launching a new series of articles and an expansion of our coverage into client accounting services, the fast-growing, but still much-misunderstood growth opportunity. with a special mix of technology savvy and visionary insight, hitendra patil, the best-selling author of accountaneur for 卡塔尔世界杯常规比赛时间, is uniquely positioned to tackle the tough questions, and to unearth the best solutions. we look forward to hearing from you – your experiences, opinions, questions, comments, ideas and suggestions. – rick telberg, editor and publisher
by hitendra patil
client accounting services is becoming an increasingly important new revenue and growth segment for accounting firms of all sizes. yet, professionals are still grasping for the best practices, adjusting service bundles, searching for the right technologies, and optimizing prices.
cas is, first, a mindset. it exists in every professional accountant. some know it exists in them. some don’t. some know that the cas mindset exists in them but do not make the most of it. instead, they try to become everything to everyone. they become more of “need-fillers” than “accounting entrepreneurs (accountaneurs®).” they find it challenging to become the “most trusted advisors” of their clients. those who don’t know that the cas mindset exists in them feel it will be overwhelmingly difficult to “learn” the cas mindset. they may try to acquire the mindset but give up too soon. read more →
clients will be open to new pricing if they see the benefits.
by 卡塔尔世界杯常规比赛时间
growth is one thing, transformation another.
growth is good. it’s what most cpa firms want: growth in clientele. growth in revenue. growth in profit.
marketing efforts tend to engender growth. but it’s an incremental growth – a new client, then another, then a new service, then a bump in revenue.
transformation is more than that. it engenders exponential growth – a host of new clients, a whole new set of services, a local reach rendered regional. read more →
the world has changed in ways we can see and some that we do not yet understand. some of these changes have been in process before the covid-19 crisis, such as greater competition, the use of artificial intelligence, and the immense increase in private wealth.
other changes, such as the way people are and will likely continue to interact, are a function of the crisis. for example, video calls and conferences are going to become a bigger part of the way professionals interact with clients and each other. read more →
it used to be common for practice management conference agendas to include a panel of luminaries – prominent consultants and rock star managing partners – to make predictions for the cpa industry. as an up-and-coming consultant (who was too new to be invited as a panelist), i saved several years of these predictions to see if, years later, the predictions came true.
i was not surprised to find that only 10 percent of these predictions came true. (examples: the demise of small and midsized firms; outsourcing to become mainstream; tax law simplification.) i vowed then, as i continue to do today, to refuse invitations to make predictions. read more →
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