Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/116963
THOUGHT LEADERS Preparing for the Challenges of Tomorrow���s Accounting Professionals: 2013 Thought Leader Symposium S By Isaac M. O���Bannon, Editor uccessful accounting professionals understand the need to continue to pursue opportunities for greater productivity, greater efciency and ultimately, greater proftability. T he 2 013 T hought L eader Symposium, created by CPA Practice Advisor (also known as NSA Practice Advisor), brought together two dozen of the nation���s most respected accounting professionals, technology experts and practice management consultants for three days of interactive discussions with the largest technology companies serving the profession. The goal: Helping identify the c or e c h a l le n ge s t h at t a x a nd accounting firms will face in the coming years, and helping shape the future of technology and workfow, so that professionals will have the tools and resources they need to most efectively run their practices. The Symposium was held Feb. 17-19 at the Omni Mandalay Hotel in Las Colinas, Texas, and included extensive presentations by CCH, Ofce Tools Professional, Sage and Thomson Reuters, followed by group discussions and feedback. As would be expected in any gathering of such leaders, there were also occasional respectful arguments over the necessity of some workfow practices and tools. Hall of Fame Honors Decades of Leadership During a special awards dinner on the frst evening of the 2013 Tought Leader Sy mposium, Executive Editor Darren Root, CPA.CITP and Publisher Jim Baker presented each of this year���s Tought Leaders with commemorative plaques in recognition of their achievements. Gary Boomer (L) receives an award from Executive Editor Darren Root. Boomer was inducted into the Tax & Accounting Hall of Fame. 4 April 2013 ��� www.CPAPracticeAdvisor.com The awards dinner culminated w it h t he induct ion of L . Ga r y Boomer, CPA .CITP, into CPA Practice Advisor���s Accounting Hall of Fame. He joins previous inductees Gregory L. LaFollete, CPA.CITP, Rick Richardson, CPA.CITP and Randy Johnston. Boomer, who was also in atendance as one of this year���s Tought Leaders, is the president of Boomer Consulting (www.Boomer.com), w h ic h i s f o c u s e d o n he l p i n g accounting firms achieve greater success by improving their leadership, client development, technology and other practice areas. Before starting the consultancy, Boomer worked in public practice at a large reg iona l f i r m. (More on Ga r y Boomer���s induction into the Hall of Fame is at: www.cpapracticeadvisor. com/10880809.) Improved Integration and Client Collaboration Sage North America was the first technology vendor to ofer a presentation to the Tought Leaders, with its executives focusing on Sage���s strategy of helping professional accountants and their clients work more productively together. ���We are hearing from many professional accountants that they think many of their previously core services, like tax compliance, are being commoditized,��� said Jennifer Warawa, Sage���s Vice President of Partner Programs and Channel Sales. She said the company continually reaches out to its customers a c r o s s t he U. S . a nd C a n a d a , including holding focus groups in many cities. ���Firms are wanting to change, to be recognized as true business partners by their business clients. At t he sa me t i me, t hese business owners are saying they want their accou nta nts to be more l i ke a partner,��� she added. Many know they want more help, but they don���t necessarily know how to ask their accountant, and they want to beter understand the information they are given. As a part of Sage���s presentation, Tought Leader Tom Hood, CPA. CITP led an interactive brainstorming session focused on helping a small practice owner beter serve her clients, including how to develop new services and strengthen her posit ion as a t r usted busi ness advisor, not only a tax compliance ex per t. Hood is t he exec ut ive director of the Maryland Society of CPAs. Warawa also briefy discussed the recent decision by Sage to sell of its Act!, SalesLogix and Sage NonProft Solutions. Te company ofcially announced that move two days before the Symposium, and Warawa said it is part of Sage North America���s enhanced focus on its core areas, which are accounting, ERP and payroll. Globalization, Commoditization & Generational Shifts Te continually changing landscape of the accounting profession was the focus of Tomson Reuters, which opened the second day of the Symposium with their session with the Tought Leaders. Scot Fleszar, the vice president of strategic marketing for Tomson Reuters Tax and Accounting, said