Welcome!

Containers Expo Blog Authors: Mehdi Daoudi, Jason Bloomberg, Elizabeth White, Aater Suleman, Sematext Blog

News Feed Item

Report: How the Cloud Changes the Game for CPAs Offering Client Accounting Services

The cloud is reinvigorating client accounting services for small and midsize businesses, and CPA firms that want to take advantage of this trend need to help their clients embrace digital technologies, according to Geoffrey Moore, tech consultant and bestselling author of “Crossing the Chasm.”

Moore recently interviewed dozens of thought leaders and technology advocates in the accounting profession and found that work involving accounting and back office operations – known more formally as “client accounting services” – has rapidly become a cloud-fueled field of growth for CPA firms. His findings are collected in a research report, “Accounting Services: Harness the Power of the Cloud,” released today at Digital CPA: CPA2Biz 2012 Cloud User Conference, an event hosted by the technology subsidiary of the American Institute of CPAs, CPA2Biz.

“Our fundamental premise is that, in the past, major barriers to productivity made (client) accounting services a low-margin activity that was unattractive to pursue,” Moore wrote. “In today’s online digital era, we believe these barriers can be removed, and the practice can be reengineered into a high growth, high profitability line of business.”

Moore said three major shifts are driving innovation in the accounting profession:

  • From paper to digital. Moving to web-based solutions means data is updated instantly and accessible anytime. “Paper is the anchor that keeps (client accounting services) practice margins at unacceptably low levels, so driving it out of the system is fundamental to building a sustainable business,” he wrote.
  • From physical to digital presence. Technology improvements mean most business interactions can take place virtually, which broadens the geographic reach, potential client base and hiring pool for firms. Face-to-face meetings should be reserved for critical interactions that warrant it.
  • From generalization to specialization. Many small to midsize businesses are taking advantage of an explosion in global outsourcing opportunities, and are already predisposed to shedding business operations outside their core competencies. CPA firms that can identify industry niches – restaurant franchising, retail chains, nonprofit management – can use their expertise to build intelligent, repeatable processes that serve their clients’ needs.

Moore outlined a progression for evolving a client accounting services practice: 1) Move to the cloud, 2) Adopt systems of engagement, 3) Adapt business intelligence to manage data powerfully and present information simply for clients. The latter stage allows CPA firms to move away from “write-up,” transactional work and gives clients what they most need – high value, forward-looking business analysis from a trusted advisor.

“The key to capitalizing on this new set of opportunities is to free up professional time to devote to such analytics, to use that time to determine the key performance indicators for your client’s business, and to work with the business intelligence software to develop simple dashboards that make performance factors readily visible,” Moore wrote.

How fast should firms be moving through those stages? Moore said it’s a judgment call.

Visionary firms seek fast growth and are already tech-savvy – they’re likely to be all-in for change, he said. Pragmatists are generally satisfied with firm operations, but want to shore up underperforming areas – going to a paperless office might represent a good medium risk, medium reward step for them. Conservative firms are happy with the status quo and reasonably sure of customer loyalty. They might subcontract client accounting work to a more tech-friendly firm, and buy in to innovation later in the adoption cycle to save costs.

Moore said there’s no right answer for the category firms choose, as long as they realistically evaluate their goals and needs on technology. To ease this process, CPA2Biz has created two mobile applications that can help CPA firms and their clients assess where they fall on Moore’s spectrum of technology adoption, as well as decide which strategies best suit them going forward. Available for both iPhone™ and iPad™, the CPA Practice Assessment Tool is designed for accounting firms, while the Crossing the Chasm Assessment Tool is designed for general business use. Both are available for download from the Apple App Store.

“Geoffrey Moore’s research report on client accounting services is a call to action for firms,” said Erik Asgeirsson, president and CEO of CPA2Biz. “Our assessment tools are a great first step that CPAs and their clients can take in mapping out their move to the cloud.”

About Geoffrey A. Moore

Geoffrey Moore is an author, speaker and business advisor to many of the leading companies in the high-tech sector, including Cisco, Cognizant, Compuware, HP, Microsoft, SAP, and Yahoo!. Moore divides his time between consulting on strategy and transformation challenges with senior executives and speaking internationally on those same topics. He has written six books, including the recently published Escape Velocity: Free Your Company’s Future from the Pull of the Past. His first book, Crossing the Chasm, addresses the challenges of gaining initial adoption for disruptive innovations and continues to be required reading in business schools and entrepreneurship curricula.

About CPA2Biz

CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants, provides best-in-class marketing and technology services to support accounting professionals throughout the U.S. Its Trusted Business Advisor solutions are web-based tools that enable small- and mid-size accounting firms to build more collaborative and strategic relationships with their business clients or employers. For more information, visit www.cpa2biz.com, the leading e-commerce site for the accounting profession.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Judith Hurwitz is president and CEO of Hurwitz & Associates, a Needham, Mass., research and consulting firm focused on emerging technology, including big data, cognitive computing and governance. She is co-author of the book Cognitive Computing and Big Data Analytics, published in 2015. Her Cloud Expo session, "What Is the Business Imperative for Cognitive Computing?" is scheduled for Wednesday, June 8, at 8:40 a.m. In it, she puts cognitive computing into perspective with its value to the busin...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...