Innovating Beyond Technology #SageSummit

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Innovation is one of the latest buzz words, but what does innovation really mean and how does it impact the way you do business and serve your clients? Often times, business leaders think innovation refers solely to technology, when in fact cloud and mobility are shifting away from being a new idea to being mainstream and an expectation, leaving clients wanting more. What does being innovative in your accounting firm mean to your business model, the way you interact with your clients, and how you plan for the future? Jennifer Warawa, Vice President and General Manager of Sage Accountant Solutions at Sage North America, and Tom Hood, CEO of Maryland Association of CPAs and the Business Learning Institute, will share research, trends, and insights into how the next phase of innovation will have an impact on the way you do business, and what changes are crucial in order to stay one step ahead of the competition.

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<ul><li>Innovating Beyond Technology! Jennifer Warawa &amp; Tom Hood! MAX-502! ! @jenniferwarawa @tomhood! #SageSummit! ! </li><li>The contents of this presentation were provided by individual(s) and/or company listed on the title page. The information and opinions presented in this presentation may not represent Sages positions, strategies, or opinions. Unless explicitly stated, Sage is not responsible for the content herein and no endorsements are implied. 2014 Sage Software, Inc. All rights reserved. Sage, the Sage logo, and any product and service names mentioned herein are trademarks of Sage Software, Inc. or its affiliates. All other names used in this presentation are for informational purposes only and may be trademarks of their respective owners. #SageSummit </li><li>Start with why People dont buy what you do, they buy why you do it. ~ Simon Sinek </li><li>reimagine! Youre invited to </li><li>What do you think of when I say innova?on? </li><li>What is innova?on? innova?on Deni?on: The act of introducing something new. Something newly introduced. synonyms: change, altera9on, revolu9on, upheaval, transforma9on, metamorphosis, breakthrough; new measures, new methods, moderniza9on, novelty, newness; crea9vity, originality, ingenuity, inspira9on, inven9veness; a shake up Innovation isnt a single event. Its a continuing process. </li><li>Why is innova?on so important in your rm? The bo@om line: Everything is changing! </li><li>Key trends: Compe99on no longer just down the street Businesses are demanding more value ShiF from reac9ve repor9ng to real-9me insights Online is crea9ng more educated clients Core accoun9ng services being commodi9zed DIY Things are moving faster! </li><li>Whats most important to your clients? Top 3: 2006 1. Level of service and a@en9veness 2. Quality and accuracy of work 3. Reputa9on of rm Top 3: 2012 1. Problem-solving ability 2. Quality and accuracy of work 3. Reputa9on of rm * CPA Trendlines 2006 and 2012 studies </li><li>What do you think is most important to your clients? Top 3: 2006 1. Personal chemistry 2. Price, fees, costs, aordability 3. Quality and accuracy of work Top 3: 2012 1. Price, fees, costs, and aordability 2. Personal chemistry 3. Reputa9on of rm </li><li>1 Technologyunderstanding, what you use, what you recommend 2 The way you serve your clients: the customer experience 3 How you define success 4 Who your clients are 5 The way you find new clients: your marketing and sales strategy 6 Your people strategy Six areas innovation shows up in your firm . . . . . . and this list is just the beginning! </li><li>Technologyunderstanding, what you use, what you recommend Limited solu9ons in the market Limited visibility Consultants could have tunnel vision One size ts all worked </li><li>Technologyunderstanding, what you use, what you recommend Limited solu9ons in the market Limited visibility Consultants could have tunnel vision One size ts all worked Innova9on is happening at a rapid pace Buying decisions happening online One size ts all is over </li><li>The way you serve your clients: The customer experience Good was good enough Loyalty was prevalent Clients knew what you told them Hourly pricing worked </li><li>The way you serve your clients: The customer experience Good was good enough Loyalty was prevalent Clients knew what you told them Hourly pricing worked Changing client expecta9ons Its a global economy The pace of change is increasing Your clients know your compe9tors Value pricing gaining momentum </li><li>How you dene success Making ends meet Prot! </li><li>How you dene success Making ends meet Prot! Protability s9ll important Ability to get new clients Achieve your vision and live your dream Work/life balance </li><li>Who your clients are No client selec9on process Busy = good Unprotable clients = most demanding Firing clients </li><li>Who your clients are No client selec9on process Busy = good Unprotable clients = most demanding Firing clients New client selec9on process Busy good A-level clients win </li><li>The way you nd new clients: your marke?ng strategy Referrals Newspaper ads Yellow Pages Local events </li><li> Word of mouth Online, web, social Content marke9ng Yellow Pages? The way you nd new clients: your marke?ng strategy Referrals Newspaper ads Yellow Pages Local events </li><li>The way you aSract and retain the right talent: your people strategy Pay less, get less No budget for employee development Long-term employees </li><li> Want more? Pay more. Culture is key Next gen, new expecta9ons The way you aSract and retain the right talent: your people strategy Pay less, get less No budget for employee development Long-term employees </li><li>Seven principles of small innova?ons 1.Make free 9me </li><li>Seven principles of small innova?ons 1.Make free 9me 2.Collect ideas </li><li>Seven principles of small innova?ons 1.Make free 9me 2.Collect ideas 3.Look outside </li><li>Seven principles of small innova?ons 1.Make free 9me 2.Collect ideas 3.Look outside 4.Be customer-centric </li><li>Seven principles of small innova?ons 1.Make free 9me 2.Collect ideas 3.Look outside 4.Be customercentric 5.Small innova9ons can end up being a big innova9on </li><li>Seven principles of small innova?ons 1.Make free 9me 2.Collect ideas 3.Look outside 4.Be customercentric 5.Small innova9ons can end up being a big innova9on 6.Ask the right ques9ons </li><li>Seven principles of small innova?ons 1.Make free 9me 2.Collect ideas 3.Look outside 4.Be customer-centric 5.Small innova9ons can end up being a big innova9on 6.Ask the right ques9ons 7.Make a daily habit: Innova9on doesn't oFen occur in a mee9ng or at a desired 9me Darrell Zahorsky, About.com </li><li>reimagine! Youre invited to </li><li>If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. Accounting Today Tom Hood, CPA, CITP, CGMA ! Named the Second Most Inuential in Accounting by Accounting Today Magazine 2013! Top 150 Inuencer by Linked-In! Top 25 Inuencers in Learning &amp; HR by HR Examiner! Top 25 Public Accounting Thought Leaders by CPA Practice Adviser! Working on Learning Management with AICPA/ CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership &amp; Generations ! CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/ </li><li>Source: Brian Solis author of The End of Business as Usual The Challenge! </li><li>The New Normal! </li><li>"The faster things change, the more important it is to look ahead." The Paradox! </li><li>The trends! </li><li>Now what?! </li><li>I2a: A Strategic Thinking Process! to help you re-imagine! Hindsight Foresight Insight Create Communicate Inspire! </li><li>CO- </li><li>reimagine! T Communica?ng the total picture with clarity and objec9vity Transla?ng complex informa9on into cri9cal knowledge An?cipa?ng and crea9ng opportuni9es Turning insights into ac?on to transform vision into reality CPAs are trusted advisors who, combining insight with integrity deliver value by: </li><li>In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster than the rate of CHANGE and faster than their COMPETITION. - Tom Hood, CPA.CITP.CGMA 7/30/14 T </li><li>7/30/14 T </li><li>The Opportunity Be the House 15 X ROI on Strategy as Process &amp; Alignment (Jim Collins Built to Last) 8 X Engagement &amp;Trust (Gallup) 10X Return on Leadership (Information Masters) 20 X Return on Culture (Information Masters) 3 X - Return on Positivity (Dr. Barbara Frederickson) Research supportsVision, Strategy, and Involvement </li><li>Return on Investment! Cri?cal Areas Investment Return People 2% 20% Processes 2% 15% Organiza9on Structure 2% 10% Culture 1% 20% Leadership 1% 10% Informa9on 10% 15% Technology 82% 10% Source: Informa9on Masters Secrets of the Customer Race by John McKean </li><li>www.blionline.org Engagement Alignment - Commitment </li><li>Sage Vision and Strategy Workshops! </li><li>Now what?! Sage Vision to Strategy Workshops Leadership Educa9on for Accoun9ng Professionals (LEAP) h@p://cpa.tc/4zo For more informa9on see the Sage Compe99ve Edge website: </li><li>Resources! The Bounce Competency Model and Curriculum h@p://cpa.tc/4z4 BLI Express Leadership &amp; Management skills on-demand h@p://cpa.tc/333 Sage Vision &amp; Strategy Workshops &amp; LEAP Course Catalog h@p://cpa.tc/4zo The ShiF Change in Accoun9ng Linked-in Post h@p://cpa.tc/414 h@p://www.blionline.org </li></ul>