Accountancy: Framing The Future

“Harnessing the Power of Technology”

Erik Asgeirsson

President and CEO,

AICPA Technology Subsidiary, CPA.com

November 10, 2014

AICPA Technology Subsidiary, CPA.com

• Empowering CPAs and Businesses for the

Digital Age

• Provides marketing & technology capabilities

for the AICPA and its membership

Erik Asgeirsson President and CEO, AICPA Technology

Subsidiary, 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

Cloudspecialization

Smart Phones

24/7connectivityintegration

SaaStechnology

Healthcare Reformtax code

regulations

mandates

Big Data onlineportals

innovation

client collaboration

Practicemanagement

streamlined

paperless

process

security

marketing

branding

real time

growth

web-base

B2B

culture revolutionary

staff

sales

consulting

training

research

software

CPE

results

education

connectivitysoft phone

networking

outsourced CFO

clients

eventsinformation

creative

extended services

procedure

analytics trusted advisor

mobile

right clients

niche

solutions

Key Drivers of the

Movement to the Cloud

A New Era of Capabilities:

• Collaboration

• Business Intelligence

• Anytime, Anywhere Access

• Scalable, More Efficient

Widespread Adoption:

The Great Equalizer

Top 100 Top 500

Small Firms

Moore indicates that we have

crossed to early majority…

CHASM

Helping Firms With

Adoption Curve

Firm Solutions

CPA

Profession

Cybersecurity and the Cloud

• Recent high profile cyber attacks

• Home Depot, Apple, Chase

• Advantages With Leading Providers

• Ability to contain and react to the threats

• Opportunity of Cloud

• Both from a capability and security perspective

• Important To Always Think About Security

• Leverage Best Practices (SOC, etc.)

What does this mean for your practice?

Empowering CPA’s

in a Digital World

Changing Firm Value Proposition

Valu

e

Automation

Today Tomorrow

Tru

ste

d

Ad

viso

r

Tru

ste

d

Ad

viso

r G

row

th

Specialization

Business Insights

Commoditization of low end

Higher Margin

Low margin/fee pressures

Automation

Of Services

Bookkeeping

Decline

Transactional

Bookkeeping

What is your purpose?

Trusted Business Advisor

compliance

partnershipsupport

trust

information exchange

BIG data

business insight

innovation

technology

reporting

growth

security

Copyright © 2013 American Institute of CPAs. All rights reserved.

Challenges for a digital practiceMaribel Torres-Pinero, CEO & Director of Client

Accounting Services at Lumix CPAs and Advisors

Strategies for getting started and

furthering a digital practice Victor D. Puchi, CPA, CGMA Partner, Director of

Accounting Services, Eide Bailly, LLP

Opportunities for a clients and

the firmNicole M. Ksiazek, CPA, Senior Manager, Fesnak &

Associates, LLP

12

Trends and Strategies for Today’s Digital

CPAs from Successful Practitioners

Client Expectations are Evolving

Digital CPA

Transactional

Workflow

Using technology to

support transaction

processing

Build digital

workflow and

standardization in

processing

The operating model

of the

DIGITAL TRUSTED

BUSINESS ADVISOR

What is your strategy?

CPA.com Services: Firm Solutions

Growth Of Cloud Services

“What globalization was to the

economic debates of the late 20th

century, technological change is to

the early 21st century.”

- Lawrence H. Summers, Charles W. Eliot

University Professor at Harvard University

Source: Andrew McAfee’s Blog,

The Business Impact of IT

Questions &

Answers

Available Resources

“Roadmap to Profitability…” Workshop

• CPA.com

White Papers

• “Harness the Power of the Cloud” by Geoffrey Moore

Case Studies on Key Verticals

• Not for Profits, Franchises, etc.

Interviews with Thought Leaders

• www.YouTube.com/user/CPA2BizVideo

Digital CPA Webcast

• CPA.com

New Digital CPA

Webcast Series

December 8-10, 2014Gaylord Resort & Convention Center Washington, D.C.

Digital Driven World

For Firms & Clients