Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/571003
18 September 2015 • www.CPAPracticeAdvisor.com THE PROADVISOR SPOTLIGHT SPONSORED CONTENT Intuit is adding several accountant- specifc sessions to its second annual QuickBooks Connect event this fall. Designed to connect, inspire and educate small businesses, accountants and developers, QuickBooks Connect will take place at the San Jose Conven- tion Center November 2-4, 2015. Intuit recognizes that while all accountants are moving towards the Cloud, larger firms have different needs than smaller frms, which is why it is important to have educational tracks that address the unique needs of both types of frms. Both small and large frms have steps they need to take in order to transition their frms to the Cloud and to start leveraging the technology that is available to them. However, larger frms will require a depth of planning that might not be needed at the small frm level. "Large frms need to think in terms of scale when transitioning their frms. Compared to smaller frms, there are more levels of management involved whenever change happens, and a com- mitment to that change needs to be made at each level. Once you have the commitment, the capability will come and with capability comes confdence," said Gary Boomer, CEO, Boomer Consulting, Inc. Boomer is working closely with Intuit to create sessions at QuickBooks Connect to beneft larger frms. "Te frst step is commitment and the second is the courage to change. Ten, capability and conf- dence will follow. Too many frms hesitate to take steps one and two. Tey tend to focus on the capabilities. QuickBooks Connect will introduce you to peers and expertise that will help your frm advance." Another challenge large frms face is their service platform. While it can provide a great advantage, if profes- sionals do not know or understand their platform and its add-ons and ecosystem, they will miss real oppor- tunities to connect with and be a trusted advisor to their clients. How- ever, once they understand the plat- form and add-ons, they get valuable experience that directly translates into delivering value to their clients. Intuit's focus is on educating and showing accountants how to get started by providing them with the information and resources they need to take the frst step. Regardless of size, in order to stay future-ready, all accounting frms need to focus on moving their practice to the Cloud, transitioning to a value-pricing model and using social media and the web to grow their practice. "If we can get frms to do these three things, they w ill be f uture- ready, and in a much beter position to atract new clients and compete with their peers. We know this is what some frms are already doing, so it's a mater of both keeping up and staying ahead," said Boomer. Te frst step to moving to the Cloud is for accounting frms, regardless of size, to move just one client to an online solution like Quick Books Online. It may be tempting to try to do a mass transition, but if frms are able to move just one client, they will be able to see and compare the benefts, and then be ready for others to follow. Next, because of the efciency and speed that the Cloud provides, billing by the hour does not make much sense anymore. Shifing to a value-pricing model with one client will enable frms to be paid for the services they provide, not for how long it takes them to complete tasks. Just as with the Cloud model, start by shifing one client to a value-pricing model before moving every client to this model. Leveraging higher-level services such as strategic planning, CFO ser- vices, payroll and real-time accounting information will position frms to make a seamless transition to value- pricing. Intuit has lined up several expert speakers at QuickBooks Con- nect to share how they are successfully providing these services to clients, as well as how to create a niche practice. Once clients are both in the Cloud and on a value-pricing model, it is time for accountants to focus on growing their practice, and one of the best and most cost-efcient ways to do so is through their website and social media. "It's important for accountants to remember to commit to change when geting started. Once they do, they will see just how efcient they will be and how much sense it makes to be paid for the trusted advisor and consultant services they provide. Additionally, clients very rarely walk through a frm's lobby these days. Tey search for frms online, and whatever comes up – pic- tures, videos, links – will be their frst impression," said Boomer. "Accoun- tants want to grow their frm while maintaining margins so ofering a menu of services is important. At Quick Books Connect, accounting professionals will learn how to package, price and deliver compliance, strategic and performance-based services." Intuit also wants to teach accoun- tants the best practices of SEO and SEO marketing to help them accu- rately capture the personality of their frm in their online presence. Te top three and most common networks professionals and frms join are Twiter, Facebook and LinkedIn. W hile each network is slightly diferent and has diferent strengths and weaknesses, frms should approach them the same: actively participate in the conversa- tions taking place around them and start and lead their own. Sharing knowledge will help establish profes- sionals as experts within the industry. Intuit has also developed a way for accounting professionals and small businesses to continue to connect, learn and have important conversa- tions on the newly launched OW NIT. com community. At OW N IT, the more than 57,000 registered small business and accountants in frms of all sizes can share information, learn from each other as well as connect to and help small businesses. "There seems to be a barrier between large and small frms where they think they can't learn from each other. However, they are both dealing with similar issues such as talent development and succession plan- ning," said Boomer. "Trough this network, they can help each other, and also help small businesses looking for advice and counsel." Te Accounting Track at Quick- Books Connect will help accounting frms begin the transition to become a frm of the future, as well as address how to save time, grow and overcome obstacles many frms face. In addition, Quick Books Connect will feature inspirational main stage speakers from the world of business, including Jessica Alba, Bill Rancic, Brian Grazer and Robert Herjavec, who will share their unique perspective on overcoming barriers and becoming successful in business. Interested frms are encour- aged to register multiple professionals for QuickBooks Connect. Atendees will collaborate with others from their frms as well as learn more about Intuit's add-on applications. T here has been a lot of talk lately centered on empowering small frms to ser ve their clients better. Intuit's focus on helping small to medium-sized accounting frms is largely known and the company wants to take that conversation to large frms to let them know they too can become frms of the future. Connection is Key for Accountants