jim boomer, cpa.citp, cgma, mba • attitudes are changing – business leaders – it professional...

Think, Plan, Grow!™

Jim Boomer, CPA.CITP, CGMA, MBAwww.boomer.comjim.boomer@boomer.com

Think, Plan, Grow! ™

Jim BoomerCPA.CITP, CGMA, MBA• Shareholder and CIO at Boomer

Consulting, Inc.• Director of the Boomer Technology

Circles, CIO Advantage & ProducerCircle

• Chair of AICPA’s Tech+ Conference andpast member of CITP CredentialsCommittees

• Named by CPA Practice Advisor asone of the Top 25 Thought Leaders and40 Under 40 in Public AccountingTechnology

• Named by Accounting Today as “oneto watch” on the annual list of the Top100 Influential People in the AccountingProfession

• Member of KSCPA Board of Directors

Think, Plan, Grow! ™

LeadershipLeadership

StrategicPlanning

Accountability

The CEOAdvantage

TalentTalent

P3 LeadershipAcademy

Kolbe Index

SynergisticTeam Building

GrowthGrowth

The ProducerCircle

Packaging &Pricing

Five StarCustomer

Service

TechnologyTechnology

IT Roadmap

The BoomerTechnology

Circles

The CIOAdvantage

C o m p e n s a t i o n

Think, Plan, Grow! ™

Think, Plan, Grow!™

Think, Plan, Grow! ™

Think, Plan, Grow! ™

2009 2010 2011 2012 2013Revenue per FTE $138,859 $143,685 $152,775 $173,774 $173,855

Average hourly Rate $140 $146 $152 $171 $168

% Chargeable 47.8% 47.5% 48.2% 48.9% 49.7%

% of Revenue Invested inTechnology

6.0% 6.4% 6.5% 5.7% 5.7%

Investment in Technology perCharge Hour

$8.45 $9.34 $9.88 $9.82 $9.56

Ratio of IT Personnel to End Users 1-35 1-32 1-33 1-32 1-32

Fiscal Year

FTE = 2,080 hours

FY2013Results

Think, Plan, Grow! ™

2009 2010 2011 2012 2013Average hourly rate $140 $146 $152 $171 $168Investment in technology percharge hour

$8.45 $9.34 $9.88 $9.82 $9.56

Assume a multiple of 3.5 times ontechnology

$29.58 $32.69 $34.58 $34.37 $33.46

Net hourly rate, excludingtechnology

$110.42 $113.31 $117.42 $136.63 $134.54

Fiscal Year

FY2013Results

FTE = 2,080 hours

Think, Plan, Grow! ™

• FY2012 saw many firms staffed verylean with led to large jumpincreased hiring led slight decline inFY2013

• Continued wait-and-see approachflat trend on technology spend– Main drivers – leadership, current

applications & infrastructure life cycle

Think, Plan, Grow! ™

A. IncreasedB. Remained FlatC. DecreasedD. I don’t know

Think, Plan, Grow! ™

• Succession/ TalentDevelopment

• Cloud Opportunities• Mobile Devices/

Consumerization• Remote Workforce• Desktop Video

Conferencing

• Electronic Signatures• Growth in Advisory

Services• Mergers &

Acquisitions• Process Improvement• Role of the IT Leader

Think, Plan, Grow! ™

• 78 million Baby Boomers approachingretirement age

• Only 50 million in Generation X won’toffer one-to-one replacement

• Leaves Gen Y & Millennials to fill the gap

Think, Plan, Grow! ™

Think, Plan, Grow! ™

• Don’t Fail to Plan• Nurture Emerging Leaders• Bow Out Gracefully• Codify the Firm• Don’t Put All the Eggs in One Basket• Remember the Big Picture

Think, Plan, Grow! ™

Think, Plan, Grow! ™

• Momentum building• Attitudes are changing

– Business Leaders– IT Professional

• Vendors were pushing the message &now are trying to keep up

Think, Plan, Grow! ™

Think, Plan, Grow! ™

ITEcosystem

Clients

ConsumerIT

Cloud

Gov’tRegulation

GlobalMarkets Plan

Platform

Pricing

People

Processes

#btcsummit2014

Think, Plan, Grow! ™

Think, Plan, Grow! ™

Leadership, clients and firm size all play arole in finding the right balance.

Think, Plan, Grow! ™

Think, Plan, Grow! ™

More focus as an agent to facilitate efficiencyrather than as a transformational force

Accenture Survey

Very few thinkthe cloud isgoing away

Think, Plan, Grow! ™

It’s commodity applications that shift tothe cloud first

CDW

Think, Plan, Grow! ™

The Rise of The

Cloud Ecosystem

#btcsummit2014

Think, Plan, Grow! ™

Solution

• Focused on one ora few pain points

• Not attempting tobe everything toeveryone

Feature Gaps

#btcsummit2014

Think, Plan, Grow! ™

Best of Both Worlds…And Freedom!

+

#btcsummit2014

Think, Plan, Grow! ™#btcsummit2014

Think, Plan, Grow! ™

400+

Building Out 74+

120+

#btcsummit2014

Think, Plan, Grow! ™#btcsummit2014

Think, Plan, Grow! ™

1. Hybrid Cloud Growth2. Increased focus on Cloud Security3. Growth of Mobile Cloud4. Bring Your Own Cloud (BYOC) Boom5. Increased focus on SLA6. Increased focus on

openness & integration

Think, Plan, Grow! ™

A. We are 100% in the CloudB. We are trying to move to the Cloud

but aren’t fully there yetC. We are trying to move to the Cloud

but haven’t startedD. We have no plans to move to

the Cloud

Think, Plan, Grow! ™

MDMBYOD

BYOT

BYOA

Policies

Security

Think, Plan, Grow! ™

Think, Plan, Grow! ™

“The growing tendency for newinformation technology to emergefirst in the consumer market andthen spread into business andgovernment organizations.”

- Wikipedia

“The emergence of consumermarkets as the primary driver ofinformation technology innovation isseen as a major IT industry shift, aslarge business and governmentorganizations dominated the earlydecades of computer usage anddevelopment.”

- Wikipedia

Think, Plan, Grow! ™

• New technologies started in business marketsuntil the products commoditized and prices fell.

Think, Plan, Grow! ™

Think, Plan, Grow! ™

• Businesses must rethink how they procure andmanage IT equipment/services

• A dependency has developed between businessesand many of the consumerized services (search,mapping & social media)– Will advertising-based services infiltrate the core systems

(email, CRM, intranets, etc.)• Challenges with providing enterprise level security

on consumer grade products and services

The Consumerization trend is all about driving innovation intechnology from the perspective of the individual consumeror employee.

Think, Plan, Grow! ™

Think, Plan, Grow! ™http://www.enterpriseios.com/wiki/Comparison_MDM_Providers

Think, Plan, Grow! ™

Think, Plan, Grow! ™

• Reining in remote workers & flexiblework arrangements

• We see it continuing to grow andexpand

Think, Plan, Grow! ™

Think, Plan, Grow! ™

Think, Plan, Grow! ™

Category SolutionsFeedback Tools 15Five, Good Old Fashioned PhoneProject Management Basecamp, Asana, WORKetc., smartsheetFace-to-Face VirtualMeetings

Google+ Hangouts, Zoom, GoToMeeting,MS Lync, 8X8

VOIP 8x8, ShoreTel, CiscoExpenses Tallie, Concur, ExpensifyBill Payment, Invoicing Bill.comStill Lacking Trust? TransparentBusiness

Source: CIO.com – Bosses Without Borders: Essential Toolsfor Managing Remote Employees - http://tinyurl.com/jwg8kbu

Think, Plan, Grow! ™

For CPA Firms

Think, Plan, Grow! ™#btcsummit2014

Think, Plan, Grow! ™

A. Yes, open to everyoneB. Yes, open to select individualsC. No but we are consideringD. No and no plans to do so

Think, Plan, Grow! ™

Think, Plan, Grow! ™

Think, Plan, Grow! ™

TransactionalServices

AdvisoryServices

Valu

e-Ad

d

Strategic PlanningSuccession PlanningSourced CFOEstate PlanningBudgetingCash flowPayroll - HR

Bill PaymentFinancial ReportingReconciliationsQB SupportTax

Serv

ices

Serv

ices

Level 3 - AdvisoryStrategic $$$

Level 3 - AdvisoryStrategic $$$

Strategic PlanningStrategic Planning

SuccessionPlanning

SuccessionPlanning Trusted AdvisorTrusted Advisor Foresight-ProgressForesight-Progress

Mergers &AcquisitionsMergers &

Acquisitions

Level 2 - AdvisoryPerformance $$

Level 2 - AdvisoryPerformance $$

Business AdvisoryBusiness Advisory

Wealth AdvisoryWealth Advisory Trusted AdvisorTrusted Advisor Insight-ProgressInsight-Progress

Family OfficeFamily Office

Level 1Compliance $

Level 1Compliance $

TaxTax

AssuranceAssurance Technical AdvisorTechnical Advisor Hindsight-PerfectionHindsight-Perfection

AccountingServices

AccountingServices#btcsummit2014

Think, Plan, Grow! ™

Think, Plan, Grow! ™

Bill PaymentFinancial ReportingTax Return

Bill PaymentFinancial ReportingTax ReturnTax PlanningSales TaxPayroll

Bill PaymentFinancial ReportingTax ReturnSales TaxPayrollBudgetingCash FlowInsurance ReviewSuccession PlanningEstate PlanningStrategic PlanningAccountability ReviewUnlimited phone/email

Starting at… $$$Starting at… $$$ Starting at…$$$$Starting at…$$$$ Starting at…$$$$$Starting at…$$$$$

Basic Premium Corporate

Think, Plan, Grow! ™

ExecutionInterestEarly Market

Tornado

Think, Plan, Grow! ™

• Champion• Shift in Mindset

– Assurance vs. Advisory– Historical Perception of Bookkeeping

• Building the team (resource allocation)• Change Management• Disruptive Technology

Think, Plan, Grow! ™

• Enablers– Technology/Cloud– Integrated Solutions– Value Pricing– Niche Focus– Entrepreneurial

Mindset– Growth Focus

• Barriers– Politics/ Leadership

Buy-in– Change

Management– Historic Perception

of Client Accounting– Resources

Think, Plan, Grow! ™

A. YesB. No but planning to do so soonC. No and no plans to do so

Think, Plan, Grow! ™

$500-$1,000/Mo/Person

Think, Plan, Grow! ™

Think, Plan, Grow! ™

• Lean– Making a process more efficient

– Gaining capacity in a process

– Speeding up the throughput of aprocess

• Six Sigma– Making a process that rarely

produces defects or quality issues

– Higher quality

– Remove variation as much aspossible

Reduced to the mostfundamental of definitions,

“Lean is the purposefulelimination of wasteful

activities”.

Six Sigma is a businessproblem-solving model

designed to improveprofitability by improving

quality and eliminatingvariation.

#btcsummit2014

Think, Plan, Grow! ™

Data Entry

Scan-and-Populate

Book-to-Tax

#btcsummit2014

Think, Plan, Grow! ™

Think, Plan, Grow! ™

Leadership - Culture – Technology

Think, Plan, Grow! ™

• Managing the services• Integration & workflow• Processes – more involved in the

business and less on the hardware• Tightly aligned with Training &

Learning Professional• Innovative and strategic

Think, Plan, Grow! ™

Think, Plan, Grow!™

Jim Boomer, CPA.CITP, CGMA, MBAwww.boomer.comjim.boomer@boomer.com