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Computing is profoundly impacting your members v3

Gregory LaFollette, CPA,CITP,CGMA, profile picture
Gregory LaFollette, CPA,CITP,CGMA

The document discusses how cloud computing is profoundly impacting accounting professionals and their clients. It provides background on Gregory LaFollette, the vice president of product strategy at CPA2Biz, who will be presenting on how firms can position themselves for success in a digital age. CPA2Biz operates entirely in the cloud and provides various technology solutions and platforms to accounting firms to help them transform their services and compete. LaFollette will discuss the technology, business practice, and client expectation drivers of change and how firms should develop their technology strategies, talent, and client services to adapt.

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Cloud  Compu)ng  is  Having  a  Profound   Impact  on  Your  Members       Test  Your  Own  Understanding  of  the  Cloud Gregory L. LaFollette Vice President – Product Strategy, CPA2Biz AICPA & CPA/SEA Interchange 2012 Session 44: Friday, July 20, 2012 - 8:30 to 9:30AM CPA2Biz, Inc. - Proprietary and Confidential Information
Gregory  L.  LaFolle@e,  CPA,  CITP,  CGMA   Vice  President  of  product  strategy  –  CPA2Biz   Columnist  &  Speaker   Former   •  Eide  Bailly,  LLP  –  Senior  Manager,  Tax  and  Technology  Consul=ng  (6  years)   •  LaFolle/e  Consul4ng,  LLP  -­‐-­‐  Consultant  to  the  industry  (12  years)   •  The  CPA  Prac4ce  Advisor    -­‐-­‐  Execu=ve  Editor  (6  years)   •  Thomson  Reuters  (Crea4ve  Solu4ons)  -­‐-­‐  Vice  President  -­‐  Product  Strategy  (5  years)   •    LaFolle/e,  Jansa,  Brandt  &  Co.  ,  LLP  -­‐-­‐  Tax  &  Technology  partner  (23  years)     AICPA  Commi@ees   §  Journal  of  Accountancy  –  Technology  Advisory  Board   §  Prior  Service:   §  CITP  Creden=al  CommiQee  –  Chair  (7  years;  Member  4,  Chair  3)   §  TECH+/Prac==oners  Conference  -­‐-­‐  Planning  CommiQee  (6  years)   §  Na=onal  Accredita=on  Commission  –  ad  hoc  (3  years)   §  Na=onal  Tax  Educa=on  Program  (AICPA/UI)  -­‐-­‐  Graduate  and  former  Staff  Lecturer  (12  years)   §  Top  10  Technology  Ini=a=ves  -­‐-­‐  Review  CommiQee  (5  years)   §  Microcomputer  Advisory  Services  CommiQee  (3  years)   CPA2Biz, Inc. - Proprietary and Confidential Information
Contact  Informa)on   Greg  LaFolle@e     Greg.LaFolleQe@CPA.com   Greg.LaFolleQe@CPA2Biz.com   Greg@theLaFolleQes.net             New  York  Office  -­‐  212-­‐596-­‐6267   South  Dakota  Office  –  605-­‐977-­‐4823     Cell  –  734-­‐330-­‐9015   200  East  10th  Street  #500   Sioux  Falls,  SD    57104   CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz  Business  Focus   Transforming Accounting Services New Learning Gateway  Firm   Cloud Computing Programs -Launched in 2011 Technology   -Growing Use Solu)ons   Online   LMS     Portal     CPA2Biz       CPA2Biz.com, IFRS.com -Leading Sites C2B, Firm, AICPA, States Marke)ng   Mobile     &   AICPA & State Societies Technology   -Leading Capabilities Apps   Services   CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz  Opera)ons  –  100%  Cloud  Based   Performance Accounting Platform Management Data Bill Payment Center LMS CRM Email Website Operations All of our business is managed through cloud based applications CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz  Broad  Firm  Solu)ons  Strategy     PlaQorm  &   Distribu)on   Integra)on   Educa)on   CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz  Firm  Solu)ons  PorQolio   Client Accounting Tools (Over 1,000 firms now using) Bill Pay Firm Workflow (Bill.com) General Management Practice Ledger Workflow (Used by 50 of (XCM) (Intacct) Client Dashboards Top 200 firms) CPA2Biz Firm Solutions Payroll Paychex has Digital Brand Email & Backup Portfolio (Paychex) introduced a for the Firm (CPA.com) firm payroll platform Newsletter, Audit Email & Other IT other misc. Confirm- Audit workflow Services (C2B) ations (7,000 firms now using) (0ver 900 users) CPA2Biz, Inc. - Proprietary and Confidential Information
Posi)oning  for  Success  in  a  Digital  Age   Key  Ques)ons  For  You:   1)  What  does  this  mean  to  your  members?     2)  How  will  they  retool  and  compete?   3)  What  should  your  member  firm’s  technology  strategy  be?   4)  How  are  they  developing  talent?   5)  How  are  your  member  firm’s  client  services  changing?   6)  What  does  this  change  about  how  you  serve  your  members?   CPA2Biz, Inc. - Proprietary and Confidential Information
Agenda   Posi)oning  for  Success   Technology  Drivers   Client  Accoun)ng  Services   7  Early  Warning  Signs   CPA2Biz, Inc. - Proprietary and Confidential Information
Three  Concurrent  Drivers   Technology   1st  Driver   Business   Prac)ces   2nd    Driver   Client   Expecta)ons   3rd  Driver   CPA2Biz, Inc. - Proprietary and Confidential Information
The  Hardware  Driver   1965  -­‐   1975  -­‐   1985  –   1995  -­‐   2005  –   1975   1985   1995   2005   2015   Service   All  manual   Premise-­‐ Bureau  to   Mini’s  to   DOS  to   to  Service   based  to   Mini-­‐ Micro’s   Windows   Bureaus   SaaS   computers   CPA2Biz, Inc. - Proprietary and Confidential Information
The  Socware  Driver   Socware  as   •  Socware,  services  &  support  offerings   specifically  designed  for  one-­‐to-­‐many   a  Service   delivery  over  the  Internet     •  Packaged  socware  customized,  deployed   Hosted     &  managed  by  provider   Tradi)onal   •  Today’s  packaged  socware  deployed  on-­‐ Socware   premise   CPA2Biz, Inc. - Proprietary and Confidential Information
The  Business  Prac)ce  Driver   •  1980s:  Digital  Office  Work  Begins   20th Century –  Personal  Compu=ng,  Excel,  Quicken,  etc.     •  1990s:  Digital  Value  Chains   –  Internet,  Networks,  Email,  Tax  &  Audit  Somware,                          e-­‐ Commerce   •  2000s:  Digital  Consump=on   21st Century –  Paperless,  Online  Research,  Mobile,  Social  Media,     Self-­‐Service     •  2010s:  Digital  Engagements   –  Portals,  Cloud,  Collabora=on,  Apps,  etc   Geoffrey Moore Slide – Adopted for CPA Marketplace CPA2Biz, Inc. - Proprietary and Confidential Information
The  Client  Expecta)on  Driver   TODAY     FUTURE     Systems     Systems of  Record   Systems   of Record of  Engagement     •  Consolidate •  Collaborative •  Organize •  Intelligent •  Report •  Knowledge Based (The Digital CPA ) Geoffrey Moore Slide – Adapted for CPA Marketplace CPA2Biz, Inc. - Proprietary and Confidential Information
Firm  Value  Chain   Lower Value & Higher Value Historical Focus & Future Focus Input   Assemble   Analyze  &   Advise  &   Report   Data   &  Verify   Interpret   Consult   CPA2Biz, Inc. - Proprietary and Confidential Information
We’re  in  the  Midst  of  a  Great  Sea  Change   “Things  take  longer  to  happen  than  you  think  they  will,   and  then  happen  faster  than  you  thought  they  could”   —old  axiom     “Rate  of  change  today  is  much  greater  than  it  was   during  dot  com  era”  —  Jeff  Bezos,  CEO  Amazon       Acceleration of Change (Highlighted By Cloud & Mobile Movement) CPA2Biz, Inc. - Proprietary and Confidential Information
 Four  Technology   Drivers  of  the     Digital  CPA   CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz  Focus  On  Technology  Drivers   Transforming Technology Drivers Cloud Information Mobile Digital Brand Computing Security Change Management CPA2Biz, Inc. - Proprietary and Confidential Information
Key  Benefits  of  Accoun)ng  Firm  Usage  of  Cloud  Applica)ons   CPA2Biz  2012  Technology  Survey   •  Being  able  to  work  anywhere,  any)me:  88%                5%   •  Disaster  backup  &  recovery  :  85%   •  Improved  client  service  &  collabora)on:  84%   •  Being  able  to  use  the  latest  applica)ons:  82%              4%   •  Being  able  to  serve  non-­‐local  clients:  80%     •  Expand  services,  create  new  revenue  sources:  79%                11%   CPA2Biz, Inc. - Proprietary and Confidential Information
Growth  of  Virtual  Office   CPA2Biz  2012  Technology  Survey   Regarding  a  physical  office:   •  In  2011  4%  of  firms  were  “virtual”     •  By  2012  those  numbers  have  grown  to  8%   CPA2Biz, Inc. - Proprietary and Confidential Information
 Mobile   CPA2Biz, Inc. - Proprietary and Confidential Information
US Market Forecast US  Smartphone  &  Tablet  User  Base  Forecast   (in  millions)   140.00   133.0   120.00   119.9   106.7   100.00   90.1   89.5   80.00   75.6   60.00   60.2   54.8   40.00   33.7   Smartphones   20.00   13.0   Tablets   0.00   2010   2011   2012*   2013*   2014*   Source: eMarketer CPA2Biz, Inc. - Proprietary and Confidential Information
Accounting Firm-Branded Apps Moss Adams KPMG Eide Bailly THE APP IS THE WEB SITE OF THE 90’s AND IS COMING TO SMALL FIRMS CPA2Biz, Inc. - Proprietary and Confidential Information
Mobile-Friendly Practice Management Tools Salesforce.com Thomson Mobile CS CPA2Biz, Inc. - Proprietary and Confidential Information
Accounting Software in Your Mobile Device Intacct Bill.com CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz Mobile Friendly Site CPA2Biz, Inc. - Proprietary and Confidential Information
Digital  Brand   CPA2Biz, Inc. - Proprietary and Confidential Information
Importance  of  Digital  Brand  in  Client  Rela)onship     Historical   Today •  Meeting in an office •  Online Collaboration •  Phone •  Email •  Classified •  Social Networking •  Yellow Pages •  Search •  Word of mouth •  Review sites CPA2Biz, Inc. - Proprietary and Confidential Information
What’s  Your  Online  Digital  Brand?   Consumer Email Account Professional Email 1. Firm Branded Domain: smithcpa@aol.com -  www.smithcpa.com -  Branded web site and email 2. CPA.com Domain -  Your.Name@CPA.com CPA2Biz, Inc. - Proprietary and Confidential Information
Accoun)ng  Firm  Use  of  Social  Media     CPA2Biz  2012  Technology  Survey  80      70     Firm Usage of Blogs and Twitter  60     each up 60% year-over-year  50      40     2011    30     2012    20      10      -­‐         LinkedIn   FaceBook   TwiQer   Blog   •  34% of CPAs surveyed are using tablets (iPads) for business purposes, and another 12% plan to soon •  According to recent Boomer study, this is as high as 57% for mid sized firms CPA2Biz, Inc. - Proprietary and Confidential Information
Accoun)ng  Firm  Use  of  Video   CPA2Biz, Inc. - Proprietary and Confidential Information
VIDEO
Accoun)ng  Firm  Use  of  Video   CPA2Biz, Inc. - Proprietary and Confidential Information
Informa)on     Security   CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz  Survey  Results  –  April  2012   Accoun=ng  Firm  Usage  of  Web-­‐Based  Applica=ons   TOP CONCERNS (SIGNIFICANTLY OR SOMEWHAT CONCERNED)   • Security:  73%  concerned  (          8%  from  2011)   • Confiden)ality:  72%  concerned  (        8%  from  2011)   • Privacy:  67%  concerned  (        11%  from  2011)   • Availability:  64%  concerned  (          4%  from  2011)     CPA2Biz, Inc. - Proprietary and Confidential Information
What  alleviates  CPAs’  concerns?   CPA2Biz  2012  Technology  Survey   100%   90%   80%   70%   60%   50%   Not  Important   Somewhat   40%   Very  Important   30%   20%   10%   0%   Company   SOC  2     Other  firms'   Strong  SLAs  in   Training  on   reputa=on   usage   place   cloud  service   CPA2Biz, Inc. - Proprietary and Confidential Information
Cyber  Security  –  Importance  of  Topic     Cyber Security - Extent   of Issue: •  The growing number of attacks on our cyber networks has become, in President Obama's words, "one of the most serious economic and national security threats our nation faces.“ •  FBI Director Quote. “Today there are only two types of companies – those that have been hacked or will be hacked.” CPA2Biz, Inc. - Proprietary and Confidential Information
Cyber  Security  –  Best  Prac)ces     1.    Informa)on  Security  Framework   –  Third  Party  Security    Reviews  (SOC  Reviews,  Intrusion  tes=ng,  etc.)   –  Document  processes  and  procedures   –  Understand  Your  Threat  Landscape     –  IT  Security  Policies  &  Vendor  Agreement  Reviews   2.    Incident  Response  Framework     –  Know  when  to  acknowledge  outside  support  is  needed     –  Leverage  established  response  network  (law  enforcement,  cyber  experts,   specialists)   3.    Ongoing  Educa)on  Ac)vi)es   –  Educate  how  you  communicate  digitally  to  members,  customers,   employees,  etc   4.  Cyber  Insurance     CPA2Biz, Inc. - Proprietary and Confidential Information
Cyber  Security  Threat  Landscape  Areas   •  External  –  phishing  aQacks,  hacking,  state  sponsored   espionage   •  Internal  –  disgruntled,  disloyal,  depar=ng  employees   •  Human  error   •  Ac)vists  –  denial  of  service,  reputa=on  aQacks   •  Iden)ty  Thec  –  IRS  tax  refund  fraud   •  Economic  espionage  (state  sponsored,  compe=tors)     CPA2Biz, Inc. - Proprietary and Confidential Information
Cyber  Security  Landscape   Defining  Your  Threat  Landscape   §  You  need  to  define  the  par=culars  of  your  situa=on   §  Different  measures  and  strategies   − Na=onal  Security  Organiza=ons   − Fortune  100  Companies     − Poli=cal  Targets   − Small  Businesses     − Consumers       CPA2Biz, Inc. - Proprietary and Confidential Information
Member  Educa)on:  What  CPA  Firms  Should    Be  Doing   •  Vendor  management   •  Mobile  device  policy   •  Cloud  compu=ng   •  Educa=on  to  avoid  falling   •  WriQen  informa=on  security   for  phishing  scams  or  social   policy   engineering   •  Affiliate  with  local  security   •  Insurance  op=ons  where   consultant/forensic  vendor   affordable   •  Smart  password  prac=ces   •  Employee  training  and   •  Back-­‐up’s   educa=on   •  An=  virus  /  malware   •  Strong  encryp=on   vigilance,  currency   CPA2Biz, Inc. - Proprietary and Confidential Information
Expansion  of  SAS  70  to  Meet  Market  Needs   •  Service  Organiza)on  Control   (SOC)  Reports   –  SOC  1:  Financial  Repor=ng   –  SOC  2  &  SOC3:  Based  on  Trust   Services   •  Trust  Services   –  Security   –  Availability   –  Processing  Integrity   –  Confiden=ality     –  Privacy   •  Opportunity  to  Lead   CPA2Biz, Inc. - Proprietary and Confidential Information
Rebirth  of  Client   Accoun=ng  Services     in  the  Cloud     CPA2Biz, Inc. - Proprietary and Confidential Information
Significant  Impact  of  Cloud  Compu)ng  &  Mobile     to  Major  Firm  Service  Lines   Client   Audit   Tax   Accoun)ng   Efficiencies Efficiencies Transformative Innovation Innovation Revenue Growth Key Outcomes: Automation, collaboration, improved workflow, processing efficiencies, improved quality of service CPA2Biz, Inc. - Proprietary and Confidential Information
Client  Accoun)ng  Over  Past  20  Years   Today’s Opportunity Today   ü Cloud based ü  Integrated 2000   ü  Paperless Small Businesses ü  Dashboards 1990   push work back to firms to focus more on ü  Real Time their business Role of Firms Reduced QuickBooks introduced Re-claiming of Client Accounting to small businesses & Trusted Advisor Role CPA2Biz, Inc. - Proprietary and Confidential Information
Disrup)on  in  OUR  World   •  Accoun=ng  is  on  cusp  of  disrup=on   •  Freshbooks  /  Accountants  Relief  /  Xero  /  Wave,  etc.   •  CPA2Biz   •  Thomson  Reuters  /  CCH  /  Intuit   •  Countdown  is  two  to  four  years   •  PERSONAL  PREDICTION:   “By  2017  there  will  be  no  premise-­‐based   soBware    leB  in  public  accounCng.”         CPA2Biz, Inc. - Proprietary and Confidential Information
Accoun)ng  Socware  Must  Scale     to  Firm  and  Client  Needs   Client  Accoun)ng  Services…   Advisory   Collabora)ve     Advisory  Services  –     Virtual   Virtual  CFO   Business  Process   Controllership   TransacConal   Outsourcing   Write-­‐Up   Specialize in Client Industry Verticals —  Healthcare —  Technology —  Retail —  Property Management CPA2Biz, Inc. - Proprietary and Confidential Information —  Not-For-Profit —  Professional Services —  Franchises —  Government Contractors
Driving  Adop)on  in  a  Digital  Age     Technology   Talent   Business   Change   Most significant challenge CPA2Biz, Inc. - Proprietary and Confidential Information
40  Products  You  Should  Know  About   10  Prac)ce-­‐specific  Products   10  Client-­‐facing  Products     10  General  Financial  Products   10  General  Use  Products       CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  Prac)ce-­‐specific  Products  Available  Today   1.  Global  Fx   6.  Confirma=on.com   2.  Intuit  Tax  Online   7.  ProfitCents   3.  XCM   8.  GruntWorx   4.  Firmflow   9.  Beyond  415   5.  GoSystem  Tax   10. AverQ           CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  Prac)ce-­‐specific  Products  Available  Today   1.  Global  Fx   6.  Confirma=on.com   2.  Intuit  Tax  Online   7.  ProfitCents   3.  XCM   8.  GruntWorx   4.  Firmflow   9.  Beyond  415   5.  GoSystem  Tax   10. AverQ           CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  Client-­‐facing  Products  Available  Today   1.  Quickbooks  Online   6.  webKPI   2.  Bill.com   7.  Accountants  Relief   3.  NetSuite   8.  Xero   4.  Wave   9.  iLumen   5.  Sure  Payroll   10. Intacct     CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  Client-­‐facing  Products  Available  Today   1.  Quickbooks  Online   6.  webKPI   2.  Bill.com   7.  Accountants  Relief   3.  NetSuite   8.  Xero   4.  Wave   9.  iLumen   5.  Sure  Payroll   10. Intacct     CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  General  Financial  Products  Available  Today   1.  Mint.com   6.  SalesForce.com   2.  Personal  Capital   7.  SuccessFactors   3.  ExpenseCloud   8.  FreshBooks   4.  BoardVantage   9.  Outright   5.  Cortera   10. Prosper.com                   CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  General  Financial  Products  Available  Today   1.  Mint.com   6.  SalesForce.com   2.  Personal  Capital   7.  SuccessFactors   3.  ExpenseCloud   8.  FreshBooks   4.  BoardVantage   9.  Outright   5.  Cortera   10. Prosper.com                   CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  General  Use  Products  Available  Today   1.  Dropbox   6.  TripIt   2.  CPA.com  Backup   7.  ShareFile   3.  Google  Apps   8.  LeapFile   4.  MicroSom  365   9.  YouSendIt   5.  Find  My  Device(s)   10. SmartVault    Apple    Others       CPA2Biz, Inc. - Proprietary and Confidential Information
Selected  General  Use  Products  Available  Today   1.  Dropbox   6.  TripIt   2.  CPA.com  Backup   7.  ShareFile   3.  Google  Apps   8.  LeapFile   4.  MicroSom  365   9.  YouSendIt   5.  Find  My  Device(s)   10. SmartVault    Apple    Others       CPA2Biz, Inc. - Proprietary and Confidential Information
CPA2Biz, Inc. - Proprietary and Confidential Information
Are  You  Losing  the  “Race  to  the  Cloud?”   7 Early Warning Signs calling it SaaS ①  You are using ASP and l branding” ②  Y ou have no formal “digita strategy e server ③  You are op erating your own Exchang ing accounting ④  You have not attended a lead er a year. technology conference in ov staff are ⑤  Y our members and/or your QuickBooks complai ning about dealing with files der 30 ⑥  You have no staff members un ing at least 3 ⑦  You aren ’t PERSONALLY us SaaS services CPA2Biz, Inc. - Proprietary and Confidential Information
A  Conference  Sugges)on  …   George Will Geoffrey Moore The first-ever, cloud user conference brought to you by the AICPA and our strategic business solutions partners, will help attendees embrace cloud technology as a strategic opportunity to start or evolve their client accounting services and tax practice into the digital firm of tomorrow. Barry Melancon Erik Asgeirsson CPA2Biz, Inc. - Proprietary and Confidential Information
The  Digital  CPA  Cloud  User  Conference     Firm   Technology   Cloud  Compu=ng,  Mobile,     Social  Media,  Change  Management Trends     Prac)ce   Building  a  Virtual  CFO  Prac=ce…Pricing   Development   Services,  Engagement  LeQers,  Staffing   Models,  Marke=ng  Best  Prac=ces Tools   Accoun=ng  Somware,  Bill   Oct 28 - Oct 30, 2012 Hands-­‐On   Management  and  Cash  Flow,  Tax,   Gaylord National, Washington, DC Recommended CPE Credit: 19 Accoun=ng  &  Audi=ng  Workflow   User  Training   Automa=on CPA2Biz, Inc. - Proprietary and Confidential Information
Thank  You     •  To  learn  more  go  to  www.cpa.com     •  White  papers,  case  studies,  etc.   •  Educa=onal  webinars     •  We’re  happy  to  speak  to  your  membership  –   please  contact  us  to  discuss  availability  for   2013!   CPA2Biz, Inc. - Proprietary and Confidential Information
Ques=ons  …..   CPA2Biz, Inc. - Proprietary and Confidential Information

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Computing is profoundly impacting your members v3

  • 1. Cloud  Compu)ng  is  Having  a  Profound   Impact  on  Your  Members       Test  Your  Own  Understanding  of  the  Cloud Gregory L. LaFollette Vice President – Product Strategy, CPA2Biz AICPA & CPA/SEA Interchange 2012 Session 44: Friday, July 20, 2012 - 8:30 to 9:30AM CPA2Biz, Inc. - Proprietary and Confidential Information
  • 2. Gregory  L.  LaFolle@e,  CPA,  CITP,  CGMA   Vice  President  of  product  strategy  –  CPA2Biz   Columnist  &  Speaker   Former   •  Eide  Bailly,  LLP  –  Senior  Manager,  Tax  and  Technology  Consul=ng  (6  years)   •  LaFolle/e  Consul4ng,  LLP  -­‐-­‐  Consultant  to  the  industry  (12  years)   •  The  CPA  Prac4ce  Advisor    -­‐-­‐  Execu=ve  Editor  (6  years)   •  Thomson  Reuters  (Crea4ve  Solu4ons)  -­‐-­‐  Vice  President  -­‐  Product  Strategy  (5  years)   •    LaFolle/e,  Jansa,  Brandt  &  Co.  ,  LLP  -­‐-­‐  Tax  &  Technology  partner  (23  years)     AICPA  Commi@ees   §  Journal  of  Accountancy  –  Technology  Advisory  Board   §  Prior  Service:   §  CITP  Creden=al  CommiQee  –  Chair  (7  years;  Member  4,  Chair  3)   §  TECH+/Prac==oners  Conference  -­‐-­‐  Planning  CommiQee  (6  years)   §  Na=onal  Accredita=on  Commission  –  ad  hoc  (3  years)   §  Na=onal  Tax  Educa=on  Program  (AICPA/UI)  -­‐-­‐  Graduate  and  former  Staff  Lecturer  (12  years)   §  Top  10  Technology  Ini=a=ves  -­‐-­‐  Review  CommiQee  (5  years)   §  Microcomputer  Advisory  Services  CommiQee  (3  years)   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 3. Contact  Informa)on   Greg  LaFolle@e     Greg.LaFolleQe@CPA.com   Greg.LaFolleQe@CPA2Biz.com   Greg@theLaFolleQes.net             New  York  Office  -­‐  212-­‐596-­‐6267   South  Dakota  Office  –  605-­‐977-­‐4823     Cell  –  734-­‐330-­‐9015   200  East  10th  Street  #500   Sioux  Falls,  SD    57104   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 4. CPA2Biz  Business  Focus   Transforming Accounting Services New Learning Gateway  Firm   Cloud Computing Programs -Launched in 2011 Technology   -Growing Use Solu)ons   Online   LMS     Portal     CPA2Biz       CPA2Biz.com, IFRS.com -Leading Sites C2B, Firm, AICPA, States Marke)ng   Mobile     &   AICPA & State Societies Technology   -Leading Capabilities Apps   Services   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 5. CPA2Biz  Opera)ons  –  100%  Cloud  Based   Performance Accounting Platform Management Data Bill Payment Center LMS CRM Email Website Operations All of our business is managed through cloud based applications CPA2Biz, Inc. - Proprietary and Confidential Information
  • 6. CPA2Biz  Broad  Firm  Solu)ons  Strategy     PlaQorm  &   Distribu)on   Integra)on   Educa)on   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 7. CPA2Biz  Firm  Solu)ons  PorQolio   Client Accounting Tools (Over 1,000 firms now using) Bill Pay Firm Workflow (Bill.com) General Management Practice Ledger Workflow (Used by 50 of (XCM) (Intacct) Client Dashboards Top 200 firms) CPA2Biz Firm Solutions Payroll Paychex has Digital Brand Email & Backup Portfolio (Paychex) introduced a for the Firm (CPA.com) firm payroll platform Newsletter, Audit Email & Other IT other misc. Confirm- Audit workflow Services (C2B) ations (7,000 firms now using) (0ver 900 users) CPA2Biz, Inc. - Proprietary and Confidential Information
  • 8. Posi)oning  for  Success  in  a  Digital  Age   Key  Ques)ons  For  You:   1)  What  does  this  mean  to  your  members?     2)  How  will  they  retool  and  compete?   3)  What  should  your  member  firm’s  technology  strategy  be?   4)  How  are  they  developing  talent?   5)  How  are  your  member  firm’s  client  services  changing?   6)  What  does  this  change  about  how  you  serve  your  members?   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 9. Agenda   Posi)oning  for  Success   Technology  Drivers   Client  Accoun)ng  Services   7  Early  Warning  Signs   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 10. Three  Concurrent  Drivers   Technology   1st  Driver   Business   Prac)ces   2nd    Driver   Client   Expecta)ons   3rd  Driver   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 11. The  Hardware  Driver   1965  -­‐   1975  -­‐   1985  –   1995  -­‐   2005  –   1975   1985   1995   2005   2015   Service   All  manual   Premise-­‐ Bureau  to   Mini’s  to   DOS  to   to  Service   based  to   Mini-­‐ Micro’s   Windows   Bureaus   SaaS   computers   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 12. The  Socware  Driver   Socware  as   •  Socware,  services  &  support  offerings   specifically  designed  for  one-­‐to-­‐many   a  Service   delivery  over  the  Internet     •  Packaged  socware  customized,  deployed   Hosted     &  managed  by  provider   Tradi)onal   •  Today’s  packaged  socware  deployed  on-­‐ Socware   premise   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 13. The  Business  Prac)ce  Driver   •  1980s:  Digital  Office  Work  Begins   20th Century –  Personal  Compu=ng,  Excel,  Quicken,  etc.     •  1990s:  Digital  Value  Chains   –  Internet,  Networks,  Email,  Tax  &  Audit  Somware,                          e-­‐ Commerce   •  2000s:  Digital  Consump=on   21st Century –  Paperless,  Online  Research,  Mobile,  Social  Media,     Self-­‐Service     •  2010s:  Digital  Engagements   –  Portals,  Cloud,  Collabora=on,  Apps,  etc   Geoffrey Moore Slide – Adopted for CPA Marketplace CPA2Biz, Inc. - Proprietary and Confidential Information
  • 14. The  Client  Expecta)on  Driver   TODAY     FUTURE     Systems     Systems of  Record   Systems   of Record of  Engagement     •  Consolidate •  Collaborative •  Organize •  Intelligent •  Report •  Knowledge Based (The Digital CPA ) Geoffrey Moore Slide – Adapted for CPA Marketplace CPA2Biz, Inc. - Proprietary and Confidential Information
  • 15. Firm  Value  Chain   Lower Value & Higher Value Historical Focus & Future Focus Input   Assemble   Analyze  &   Advise  &   Report   Data   &  Verify   Interpret   Consult   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 16. We’re  in  the  Midst  of  a  Great  Sea  Change   “Things  take  longer  to  happen  than  you  think  they  will,   and  then  happen  faster  than  you  thought  they  could”   —old  axiom     “Rate  of  change  today  is  much  greater  than  it  was   during  dot  com  era”  —  Jeff  Bezos,  CEO  Amazon       Acceleration of Change (Highlighted By Cloud & Mobile Movement) CPA2Biz, Inc. - Proprietary and Confidential Information
  • 17.  Four  Technology   Drivers  of  the     Digital  CPA   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 18. CPA2Biz  Focus  On  Technology  Drivers   Transforming Technology Drivers Cloud Information Mobile Digital Brand Computing Security Change Management CPA2Biz, Inc. - Proprietary and Confidential Information
  • 19. Key  Benefits  of  Accoun)ng  Firm  Usage  of  Cloud  Applica)ons   CPA2Biz  2012  Technology  Survey   •  Being  able  to  work  anywhere,  any)me:  88%                5%   •  Disaster  backup  &  recovery  :  85%   •  Improved  client  service  &  collabora)on:  84%   •  Being  able  to  use  the  latest  applica)ons:  82%              4%   •  Being  able  to  serve  non-­‐local  clients:  80%     •  Expand  services,  create  new  revenue  sources:  79%                11%   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 20. Growth  of  Virtual  Office   CPA2Biz  2012  Technology  Survey   Regarding  a  physical  office:   •  In  2011  4%  of  firms  were  “virtual”     •  By  2012  those  numbers  have  grown  to  8%   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 21.  Mobile   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 22. US Market Forecast US  Smartphone  &  Tablet  User  Base  Forecast   (in  millions)   140.00   133.0   120.00   119.9   106.7   100.00   90.1   89.5   80.00   75.6   60.00   60.2   54.8   40.00   33.7   Smartphones   20.00   13.0   Tablets   0.00   2010   2011   2012*   2013*   2014*   Source: eMarketer CPA2Biz, Inc. - Proprietary and Confidential Information
  • 23. Accounting Firm-Branded Apps Moss Adams KPMG Eide Bailly THE APP IS THE WEB SITE OF THE 90’s AND IS COMING TO SMALL FIRMS CPA2Biz, Inc. - Proprietary and Confidential Information
  • 24. Mobile-Friendly Practice Management Tools Salesforce.com Thomson Mobile CS CPA2Biz, Inc. - Proprietary and Confidential Information
  • 25. Accounting Software in Your Mobile Device Intacct Bill.com CPA2Biz, Inc. - Proprietary and Confidential Information
  • 26. CPA2Biz Mobile Friendly Site CPA2Biz, Inc. - Proprietary and Confidential Information
  • 27. Digital  Brand   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 28. Importance  of  Digital  Brand  in  Client  Rela)onship     Historical   Today •  Meeting in an office •  Online Collaboration •  Phone •  Email •  Classified •  Social Networking •  Yellow Pages •  Search •  Word of mouth •  Review sites CPA2Biz, Inc. - Proprietary and Confidential Information
  • 29. What’s  Your  Online  Digital  Brand?   Consumer Email Account Professional Email 1. Firm Branded Domain: smithcpa@aol.com -  www.smithcpa.com -  Branded web site and email 2. CPA.com Domain -  Your.Name@CPA.com CPA2Biz, Inc. - Proprietary and Confidential Information
  • 30. Accoun)ng  Firm  Use  of  Social  Media     CPA2Biz  2012  Technology  Survey  80      70     Firm Usage of Blogs and Twitter  60     each up 60% year-over-year  50      40     2011    30     2012    20      10      -­‐         LinkedIn   FaceBook   TwiQer   Blog   •  34% of CPAs surveyed are using tablets (iPads) for business purposes, and another 12% plan to soon •  According to recent Boomer study, this is as high as 57% for mid sized firms CPA2Biz, Inc. - Proprietary and Confidential Information
  • 31. Accoun)ng  Firm  Use  of  Video   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 32. VIDEO
  • 33. Accoun)ng  Firm  Use  of  Video   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 34. Informa)on     Security   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 35. CPA2Biz  Survey  Results  –  April  2012   Accoun=ng  Firm  Usage  of  Web-­‐Based  Applica=ons   TOP CONCERNS (SIGNIFICANTLY OR SOMEWHAT CONCERNED)   • Security:  73%  concerned  (          8%  from  2011)   • Confiden)ality:  72%  concerned  (        8%  from  2011)   • Privacy:  67%  concerned  (        11%  from  2011)   • Availability:  64%  concerned  (          4%  from  2011)     CPA2Biz, Inc. - Proprietary and Confidential Information
  • 36. What  alleviates  CPAs’  concerns?   CPA2Biz  2012  Technology  Survey   100%   90%   80%   70%   60%   50%   Not  Important   Somewhat   40%   Very  Important   30%   20%   10%   0%   Company   SOC  2     Other  firms'   Strong  SLAs  in   Training  on   reputa=on   usage   place   cloud  service   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 37. Cyber  Security  –  Importance  of  Topic     Cyber Security - Extent   of Issue: •  The growing number of attacks on our cyber networks has become, in President Obama's words, "one of the most serious economic and national security threats our nation faces.“ •  FBI Director Quote. “Today there are only two types of companies – those that have been hacked or will be hacked.” CPA2Biz, Inc. - Proprietary and Confidential Information
  • 38. Cyber  Security  –  Best  Prac)ces     1.    Informa)on  Security  Framework   –  Third  Party  Security    Reviews  (SOC  Reviews,  Intrusion  tes=ng,  etc.)   –  Document  processes  and  procedures   –  Understand  Your  Threat  Landscape     –  IT  Security  Policies  &  Vendor  Agreement  Reviews   2.    Incident  Response  Framework     –  Know  when  to  acknowledge  outside  support  is  needed     –  Leverage  established  response  network  (law  enforcement,  cyber  experts,   specialists)   3.    Ongoing  Educa)on  Ac)vi)es   –  Educate  how  you  communicate  digitally  to  members,  customers,   employees,  etc   4.  Cyber  Insurance     CPA2Biz, Inc. - Proprietary and Confidential Information
  • 39. Cyber  Security  Threat  Landscape  Areas   •  External  –  phishing  aQacks,  hacking,  state  sponsored   espionage   •  Internal  –  disgruntled,  disloyal,  depar=ng  employees   •  Human  error   •  Ac)vists  –  denial  of  service,  reputa=on  aQacks   •  Iden)ty  Thec  –  IRS  tax  refund  fraud   •  Economic  espionage  (state  sponsored,  compe=tors)     CPA2Biz, Inc. - Proprietary and Confidential Information
  • 40. Cyber  Security  Landscape   Defining  Your  Threat  Landscape   §  You  need  to  define  the  par=culars  of  your  situa=on   §  Different  measures  and  strategies   − Na=onal  Security  Organiza=ons   − Fortune  100  Companies     − Poli=cal  Targets   − Small  Businesses     − Consumers       CPA2Biz, Inc. - Proprietary and Confidential Information
  • 41. Member  Educa)on:  What  CPA  Firms  Should    Be  Doing   •  Vendor  management   •  Mobile  device  policy   •  Cloud  compu=ng   •  Educa=on  to  avoid  falling   •  WriQen  informa=on  security   for  phishing  scams  or  social   policy   engineering   •  Affiliate  with  local  security   •  Insurance  op=ons  where   consultant/forensic  vendor   affordable   •  Smart  password  prac=ces   •  Employee  training  and   •  Back-­‐up’s   educa=on   •  An=  virus  /  malware   •  Strong  encryp=on   vigilance,  currency   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 42. Expansion  of  SAS  70  to  Meet  Market  Needs   •  Service  Organiza)on  Control   (SOC)  Reports   –  SOC  1:  Financial  Repor=ng   –  SOC  2  &  SOC3:  Based  on  Trust   Services   •  Trust  Services   –  Security   –  Availability   –  Processing  Integrity   –  Confiden=ality     –  Privacy   •  Opportunity  to  Lead   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 43. Rebirth  of  Client   Accoun=ng  Services     in  the  Cloud     CPA2Biz, Inc. - Proprietary and Confidential Information
  • 44. Significant  Impact  of  Cloud  Compu)ng  &  Mobile     to  Major  Firm  Service  Lines   Client   Audit   Tax   Accoun)ng   Efficiencies Efficiencies Transformative Innovation Innovation Revenue Growth Key Outcomes: Automation, collaboration, improved workflow, processing efficiencies, improved quality of service CPA2Biz, Inc. - Proprietary and Confidential Information
  • 45. Client  Accoun)ng  Over  Past  20  Years   Today’s Opportunity Today   ü Cloud based ü  Integrated 2000   ü  Paperless Small Businesses ü  Dashboards 1990   push work back to firms to focus more on ü  Real Time their business Role of Firms Reduced QuickBooks introduced Re-claiming of Client Accounting to small businesses & Trusted Advisor Role CPA2Biz, Inc. - Proprietary and Confidential Information
  • 46. Disrup)on  in  OUR  World   •  Accoun=ng  is  on  cusp  of  disrup=on   •  Freshbooks  /  Accountants  Relief  /  Xero  /  Wave,  etc.   •  CPA2Biz   •  Thomson  Reuters  /  CCH  /  Intuit   •  Countdown  is  two  to  four  years   •  PERSONAL  PREDICTION:   “By  2017  there  will  be  no  premise-­‐based   soBware    leB  in  public  accounCng.”         CPA2Biz, Inc. - Proprietary and Confidential Information
  • 47. Accoun)ng  Socware  Must  Scale     to  Firm  and  Client  Needs   Client  Accoun)ng  Services…   Advisory   Collabora)ve     Advisory  Services  –     Virtual   Virtual  CFO   Business  Process   Controllership   TransacConal   Outsourcing   Write-­‐Up   Specialize in Client Industry Verticals —  Healthcare —  Technology —  Retail —  Property Management CPA2Biz, Inc. - Proprietary and Confidential Information —  Not-For-Profit —  Professional Services —  Franchises —  Government Contractors
  • 48. Driving  Adop)on  in  a  Digital  Age     Technology   Talent   Business   Change   Most significant challenge CPA2Biz, Inc. - Proprietary and Confidential Information
  • 49. 40  Products  You  Should  Know  About   10  Prac)ce-­‐specific  Products   10  Client-­‐facing  Products     10  General  Financial  Products   10  General  Use  Products       CPA2Biz, Inc. - Proprietary and Confidential Information
  • 50. Selected  Prac)ce-­‐specific  Products  Available  Today   1.  Global  Fx   6.  Confirma=on.com   2.  Intuit  Tax  Online   7.  ProfitCents   3.  XCM   8.  GruntWorx   4.  Firmflow   9.  Beyond  415   5.  GoSystem  Tax   10. AverQ           CPA2Biz, Inc. - Proprietary and Confidential Information
  • 51. Selected  Prac)ce-­‐specific  Products  Available  Today   1.  Global  Fx   6.  Confirma=on.com   2.  Intuit  Tax  Online   7.  ProfitCents   3.  XCM   8.  GruntWorx   4.  Firmflow   9.  Beyond  415   5.  GoSystem  Tax   10. AverQ           CPA2Biz, Inc. - Proprietary and Confidential Information
  • 52. Selected  Client-­‐facing  Products  Available  Today   1.  Quickbooks  Online   6.  webKPI   2.  Bill.com   7.  Accountants  Relief   3.  NetSuite   8.  Xero   4.  Wave   9.  iLumen   5.  Sure  Payroll   10. Intacct     CPA2Biz, Inc. - Proprietary and Confidential Information
  • 53. Selected  Client-­‐facing  Products  Available  Today   1.  Quickbooks  Online   6.  webKPI   2.  Bill.com   7.  Accountants  Relief   3.  NetSuite   8.  Xero   4.  Wave   9.  iLumen   5.  Sure  Payroll   10. Intacct     CPA2Biz, Inc. - Proprietary and Confidential Information
  • 54. Selected  General  Financial  Products  Available  Today   1.  Mint.com   6.  SalesForce.com   2.  Personal  Capital   7.  SuccessFactors   3.  ExpenseCloud   8.  FreshBooks   4.  BoardVantage   9.  Outright   5.  Cortera   10. Prosper.com                   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 55. Selected  General  Financial  Products  Available  Today   1.  Mint.com   6.  SalesForce.com   2.  Personal  Capital   7.  SuccessFactors   3.  ExpenseCloud   8.  FreshBooks   4.  BoardVantage   9.  Outright   5.  Cortera   10. Prosper.com                   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 56. Selected  General  Use  Products  Available  Today   1.  Dropbox   6.  TripIt   2.  CPA.com  Backup   7.  ShareFile   3.  Google  Apps   8.  LeapFile   4.  MicroSom  365   9.  YouSendIt   5.  Find  My  Device(s)   10. SmartVault    Apple    Others       CPA2Biz, Inc. - Proprietary and Confidential Information
  • 57. Selected  General  Use  Products  Available  Today   1.  Dropbox   6.  TripIt   2.  CPA.com  Backup   7.  ShareFile   3.  Google  Apps   8.  LeapFile   4.  MicroSom  365   9.  YouSendIt   5.  Find  My  Device(s)   10. SmartVault    Apple    Others       CPA2Biz, Inc. - Proprietary and Confidential Information
  • 58. CPA2Biz, Inc. - Proprietary and Confidential Information
  • 59. Are  You  Losing  the  “Race  to  the  Cloud?”   7 Early Warning Signs calling it SaaS ①  You are using ASP and l branding” ②  Y ou have no formal “digita strategy e server ③  You are op erating your own Exchang ing accounting ④  You have not attended a lead er a year. technology conference in ov staff are ⑤  Y our members and/or your QuickBooks complai ning about dealing with files der 30 ⑥  You have no staff members un ing at least 3 ⑦  You aren ’t PERSONALLY us SaaS services CPA2Biz, Inc. - Proprietary and Confidential Information
  • 60. A  Conference  Sugges)on  …   George Will Geoffrey Moore The first-ever, cloud user conference brought to you by the AICPA and our strategic business solutions partners, will help attendees embrace cloud technology as a strategic opportunity to start or evolve their client accounting services and tax practice into the digital firm of tomorrow. Barry Melancon Erik Asgeirsson CPA2Biz, Inc. - Proprietary and Confidential Information
  • 61. The  Digital  CPA  Cloud  User  Conference     Firm   Technology   Cloud  Compu=ng,  Mobile,     Social  Media,  Change  Management Trends     Prac)ce   Building  a  Virtual  CFO  Prac=ce…Pricing   Development   Services,  Engagement  LeQers,  Staffing   Models,  Marke=ng  Best  Prac=ces Tools   Accoun=ng  Somware,  Bill   Oct 28 - Oct 30, 2012 Hands-­‐On   Management  and  Cash  Flow,  Tax,   Gaylord National, Washington, DC Recommended CPE Credit: 19 Accoun=ng  &  Audi=ng  Workflow   User  Training   Automa=on CPA2Biz, Inc. - Proprietary and Confidential Information
  • 62. Thank  You     •  To  learn  more  go  to  www.cpa.com     •  White  papers,  case  studies,  etc.   •  Educa=onal  webinars     •  We’re  happy  to  speak  to  your  membership  –   please  contact  us  to  discuss  availability  for   2013!   CPA2Biz, Inc. - Proprietary and Confidential Information
  • 63. Ques=ons  …..   CPA2Biz, Inc. - Proprietary and Confidential Information