Get unstuck and grow
Download as PPTX, PDF1 like240 views
Daniel Burrus discussed how accountants can develop competencies to anticipate the future. The presentation included: - Examples of how firms are innovating using trends in areas like blockchain and AI. - A framework for identifying hard trends and opportunities, developing ideas, and experimenting. - An "Anticipatory Organization" learning system to help firms and their people develop future-focused thinking skills. - Comments from firm leaders on how adopting an anticipatory mindset improved their ability to advise clients and innovate.
Get unstuck and grow
- 2. CPA.com, an AICPA company • Empowering CPAs and Businesses for the Digital Age Erik Asgeirsson, President and CEO, CPA.com • Industry leader with over 20 years of experience leading technology organizations • Consistently recognized as one of Accounting Today’s “Top 100 Most Influential People” • BS Electrical Engineering, George Washington University, and MBA in Finance, NYU Stern School of Business Host
- 3. Daniel Burrus CEO, Burrus Research • Burrus Research, a research and consulting firm that monitors global advancements in technology driven trends to help clients profit from technological, social and business forces that are converging to create enormous, untapped opportunities • One of the World’s Leading Futurists on Global Trends and Innovation • Strategic advisor to executives from Fortune 500 companies • Featured writer on innovation, change and the future for CNBC, Huffington Post, Wired Magazine and more • Has been the featured subject of several PBS television specials • Appeared on Fox Business, CNN, Bloomberg • Founded six businesses Guest Panelists
- 4. Bill Sheridan Chief Communications Officer, MACPA • One of Accounting Today’s “Top 100 Most Influential in Accounting” • Author of CPA Success blog • Produces MACPA’s “CPA Spotlight” podcast • Speaks nationally on future of accounting and finance profession, strategic use of social media, evolution of communication, collaboration, education • Graduate of State University of New York at Buffalo • Earned Certified Association Executive designation from American Society of Association Executives Guest Panelists
- 5. Agenda How to Anticipate the Future Starts with an Idea Building the Competency Open Discussion
- 6. Innovation Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Time Expectations Software as a Service Blockchain Cognitive Expert Advisors & Machine Learning more than 10 years obsolete before plateau Years to mainstream adoption: less than 2 years 5 to 10 years 2 to 5 years Big Data & Analytics* * Big data removed as a category by Gartner in 2015Source: Gartner (2016) Key Technologies To Watch, 2016
- 7. Human adaptability Technology We are hereRate of change Time Graph by Astro Teller, CEO of Google X, featured in Thomas Friedman’s “Thank you for Being Late”
- 11. www.burrus.com
- 12. www.burrus.com
- 13. Hard Trends Identified by DCPA Community “Automated Data capture is becoming more accurate” “Virtual Reality will increasingly be applied to accounting” “Data grows at an exponential rate” Learn ways to adopt the technology and analyze the data Create a virtual reality app that walks clients through financial data, highlighting trends “Increase our ability to take disparate sources and make decision before it happens” Trend Opportunity
- 14. STARTSWITHANIDEA
- 15. Begin to Experiment Need o Provide quicker responses frequently asked questions Idea o Use machine learning to provide answers Action o “Train” Alexa on answers 15
- 16. Sci-fi to Reality H&R Block & IBM Watson “…uses cloud-based Watson services to understand context, interpret intent and draw connections between clients’ statements and relevant areas of their return.” “Block applies IBM’s Watson to tax prep” by Jeff Stimpson KPMG & IBM Watson “…consultants will use Watson to analyze massive volumes of financial data in order to detect anomalies.” 16 Deloitte deploys Kira “The machine-learning-based system studies what's important to reviewers in contracts and then identifies important information across large pools of agreements.” “Big Four accounting firms delve into artificial intelligence” by Ben Kepes, ComputerWorld “Big Four accounting firms delve into artificial intelligence” by Ben Kepes, ComputerWorld
- 17. From May 2017 Accounting Today Article Interview of Firm Audit Leaders After revolutionizing tax and accounting over the course of decades, technology finally looks poised to reshape the third major service of the traditional accounting practice: the audit. Machine learning, data analytics, ever-more-powerful and mobile computers, and new tools like blockchain will do more than just change the way auditors do their job — increasingly, they’ll change what that job is.
- 18. What is Blockchain A distributed secure database that leverages cryptography and peer-to-peer technology to group data into blocks and store them in an immutable chain of transactions.
- 19. 19 Wall Street Blockchain Alliance – Copyright © 2017 Courtesy © 2016 Deloitte & Touche GmbH Blockchain in Accountancy
- 20. Future Auditor Roles Monitoring and tuning advanced audit analytics and automation systems. Review high-level outcomes of automated and semi- automated audit processes. Help to develop new automated audit systems. Continue to evaluate key assumptions and estimates.
- 21. Horne Found New Service Opportunities Identified hard trends and opportunities for the Health Care industry and then use that as thought leadership for their clients in focus/innovation groups. The opportunities are matched against firm services and any gaps become possible innovations and new services. The hard trend of Cyber-security led to the acquisition of a cyber practice which is one of the fastest growing services in the firm. Used hard trends to identify mobile app opportunities o Built an app that subsequently won a major contract due to the time to deploy and serve the citizens, beating much larger firms 21 -Kathy Watts, CPA Chair of the Board Partner in Charge of Healthcare HORNE LLP Top 50 CPA Firm
- 22. 22 Rich Stang, CPA, Managing Partner of DeLeon & Stang DeLeon & Stang Developed Future-focused, Proactive Culture. One client meeting, a young staff accountant asked the client what where their goals for the future. The client said, nobody had ever asked that question before. The client gave them the work on the spot. o The staff accountant felt comfortable talking about the future One partner wrote, it is a lot more fun talking to clients about the future than delivering tax returns. DeLeon & Stang team have confidence, tools and techniques in being able to talk about the future and trends with clients.
- 23. 23 Jeff Wald, Managing Partner of K-Coe Isom K-Coe Isom Creating an anticipatory culture of proactive advisors comfortable with the fast-arriving future There is definitely a recognition that the future will be very different from today, and I think a general feeling of, we're going through transformative change in our firm but in our industry as well. And those people driving that, their acceptance of it makes me feel confident that we'll be able to deal with it in the future. Our people have a new language that allows them to work on innovation projects faster and bolder than before the learning.
- 24. Hard Trend Report – Hard Trends & Opportunities 24 HT: Business success will increasingly be dependent on data analysis and benchmarking. O: Leverage large amounts of data across client engagements to provide our clients with information on risks that Impact them and for which we can provide them with help through increased and enhanced consulting engagements. HT: Baby boomers are reengaging in new businesses after they retire from their current jobs. O: Develop advisory services to support new boomer entrepreneurs. They can pay! HT: The accounting functions are being outsourced by businesses more and more. O: The accounting functions are being outsourced by businesses more and more. Use the CPA.com Report to stimulate thinking and apply your skills
- 25. “If it can be done, it will be done and if you don't do it, someone else will.” - Daniel Burrus 25
- 27. A set of competencies you can learn – in less time! “Everyone keeps telling accountants that they need to change their focus from the historic and the backward- looking, and to start being proactive and offering future- focused advice – but no one tells them how. The beauty of the Anticipatory Organization program is that it actually gives you a set of tools to harness the hard trends that are shaping the future, and use them to create new value for your firm and your clients.” - Daniel Hood, Editor-in-Chief, Accounting Today
- 30. Rapid Application Activities Designed to Apply To Your Work Designed To Teach & Engage Customized For The Profession Robust Instructional Design 3-5 Min Single Concept Video Co-Creation Team 5 CPE Credits ACCELERATED LEARNING SYSTEM www.burrus.com
- 31. 28 lessons – 4 modules – 1 -2 hours/week • Very short single-concept videos (mini TED Talks) • Rapid application exercises • Visual job aids to reinforce learning Anticipatory Organization - First Nano Learning for Accounting
- 32. Summer Learning Complete a module every 2-3 weeks Schedule lunch and learn discussion oCollect everyone’s assignments in advance Set action items to follow the meetings 32
- 33. User of the Learning System Reported Benefits Like These: Increased successful innovation projects. A common language of anticipation and future-thinking. A shift in mindset to future thinking and opportunities. Increased acceptance and readiness for change. New abilities to have proactive, future-focused conversations with clients. 33
- 34. • Understanding hard trends provides future facts. • Using future facts, its possible to anticipate disruption. • I learned how to think differently. Like everything worthwhile it takes practice. • By thinking differently, I quickly see new opportunities. • For me, it’s important so we can seize new opportunities and growth, avoid problems, provide greater value to clients and grow our team members’ skills. Joey Havens, CPA – Managing Partner of Horne
- 35. Erik Asgeirsson President & CEO, CPA.com Bill Sheridan Chief Communications Officer, MACPA DISCUSSIONANDPARTICIPANTQUESTIONS Daniel Burrus CEO, Burrus Research
- 36. Resources DCPA16 Hard Trends Report Anticipatory Organization: Finance and Accounting Edition o www.digitalcpa.com/anticipatory- organization Follow us on Twitter o @CPAcom o #DigitalCPA o @DanielBurrus o @BillSheridan Blogs CPA.com Blog o CPA.com/blog Daniel Burrus’ blog o www.burrus.com/blog/ CPA Success blog o www.macpa.org/blog/ 36
- 37. Digital CPA Webcast Series – Building a community of digital CPAs who embrace change and the transformational effects of technology on today’s practice •Impact of Accountability July 11, 2017 •TBA September 2017
- 38. Tomorrow’s Firms Today December 4-6, 2017 San Francisco Epicenter of technology disruption
- 39. Building a Community for YOU and with YOU
- 40. 40 How did we do? Your opinion is important to us. Please take a moment to share your feedback by clicking here.
Editor's Notes
- #2: Description of the webcast: Anticipating the future is hard. But in today’s fast paced world it’s more critical than ever. And there are techniques available that can help you mitigate innovation risk and be more effective at strategic planning. Daniel Burrus, one of the world’s leading futurists on trends and innovation and NY Times bestselling author, uses his success and expertise to teach others how to build their competency of anticipation. In this session, Erik Asgeirsson, CEO of CPA.com, and Daniel Burrus will discuss: The hard trends report gathered from firms at DCPA 2016 What this means for firms How to capitalize on the opportunities created by these trends. Get unstuck from analysis paralysis, and gain tools and inspiration to facilitate your firm’s growth with certainty!
- #3: Erik
- #4: Erik Daniel Burrus is considered one of the World’s Leading Futurists on Global Trends and Innovation. The New York Times has referred to him as one of the top three business gurus in the highest demand as a speaker. He is a strategic advisor to executives from Fortune 500 companies, helping them to develop game-changing strategies based on his proven methodologies for capitalizing on technology innovations and their future impact. His client list includes companies such as Microsoft, GE, American Express, Google, Toshiba, Procter & Gamble, Honda, and IBM. He is also a featured writer on the topics of innovation, change and the future for CNBC, Huffington Post, and Wired Magazine to name a few. He has been the featured subject of several PBS television specials and has appeared on programs such as CNN, Fox Business, and Bloomberg, and is quoted in a variety of publications, including The Wall Street Journal, Financial Times, Fortune, and Forbes. He has founded six businesses, four of which were national leaders in the United States in the first year. He is the CEO of Burrus Research, a research and consulting firm that monitors global advancements in technology driven trends to help clients profit from technological, social and business forces that are converging to create enormous, untapped opportunities. His accurate predictions date back to the early 1980s where he became the first and only futurist to accurately identify the twenty technologies that would become the driving force of business and economic change for decades to come. Since then, he has continued to establish a worldwide reputation for his exceptional record of predicting the future of technology driven change and its direct impact on the business world.
- #5: Erik
- #6: Erik
- #11: Daniel
- #12: Daniel
- #13: Daniel
- #15: Erik
- #22: Bill
- #23: Bill
- #24: Bill
- #25: Bill, Erik, Daniel
- #29: Dan
- #30: Bill/
- #31: Daniel
- #34: Bill
- #35: Bill
- #37: Erik
- #38: Erik
- #39: Erik
- #40: Erik
- #41: Erik
- #42: Erik