Dr. Geoffrey Moore studied the accounting profession and revealed 3 mega trends that were driving significant change in the profession and broke down the 4 stages firms are going through as they transform. Sometimes we need to revisit the core principles as we prepare for a change to ensure the objectives are set and vision is clear.  In this session, we will review the core principles of “Harness the Power of the Cloud”.  Review the lessons we can learn and focus on what matters most. 

1. BACKTOTHEHEARTOFITALL
Review of Geoffrey Moore’s Research “Accounting Services Harness the
Power of the Cloud”
Samantha Mansfield, CPA.com

2. Samantha Mansfield
Director of Corporate
Communications, CPA.com
• 16+ years of experience in tax and accounting
technology industry
• Consultant on workflow and web
implementations
• Designed and built educational events for
practice development
• 2015 - 2016 CPA Practice Advisor “40 Under
40”
• 2016 “Top 100 Most Influential People in
Accounting” by Accounting Today
@SnMansfield

3. Today’s Discussion
Awareness of Trends
4 Stages of Transformation
Objective & Vision Setting
3

4. AWARENESSOFTRENDS

5. Outsourcing
Automation
Commoditization
Differentiation
Specialization
Optimization
20th Century Firms Will Either Evolve or Dissolve
21st Century Darwinian Dynamics
Dr. Geoffrey Moore, “Accounting Services – Harness the Power of the Cloud” whitepaper

6. Three Mega Trends
2. Virtualization
o From Physically Present
to Digitally Present
o Systems of
Engagement
o Overcoming Barriers of
Location
1. Digitization
o From Paper to
Paperless
o Cloud Computing
o Overcoming Barriers
of Productivity
3. Transformation
o From Compliance
Vendor to Trusted
Advisor
o Business Intelligence
o Overcoming Barriers of
Commoditization

7. Systems of Record
Systems
of Engagement
• Collaborative
• Intelligent
• Knowledge Based
PAST FUTURE
• Consolidate
• Organize
• Report
(The Digital CPA )
Geoffrey Moore Slide – Adopted for CPA Marketplace
Virtualization

8. Overcoming Barriers of Location
Physical Presence
8
Virtual Presence

9. SALT
Compliance
HR Reporting
& Compliance
Financial
Planning &
Financing
Budgeting &
Forecasting
Cloud
Accounting
Traditional
Tax Services
Bill Payment
Vertical Add
Ons
Payroll
Expense Mgt
Technology Making an Impact

10. Where do you fall?
CHASM
EARLY
MARKET
MAIN
STREET
Geoffrey Moore
Crossing The Chasm

11. 4STAGESOFTRANSFORMATION

12. 12

13. Necessary Evil –
What is CAS Really?
Perception:
Bookkeeping
Write Up
After the fact
reporting
CAS covers a variety of services,
including:
Financial Statement Preparation
General Ledger/Trial Balance
Cash Flow Management
Payroll Preparation & Reporting
Accounts Payable and
Receivable
Transaction Processing (BPO)
Virtual CFO Services
Controllership
Business Advisory
13

14. Necessary Evil –
3 Options
1. Maintain status quo little longer
2. Seek partner to subcontract CAS services to
3. Proactively establish a dedicated CAS practice
14

15. Establishing the Practice -
Strategy
Target a clearly defined
target segment
15
Specialized and
differentiated set of services

16. Establishing the Practice –
3 Principles in Selecting Target Market
1. Big Enough to Matter
2. Small Enough to Lead
3. A Good Fit with your Crown Jewels
16

17. Expanding the Practice –
4 Key Principles
1. Streamline your workflow processes to be location independent – all
online, all digital.
2. Reengineer your internal communications and collaboration
practices to support a virtual organization.
3. Engage your clients through digital channels and migrate your
interactions online.
4. Extend your target market’s geographical boundaries while
maintaining your focus on target industry and core differentiation.
17

18. Deepening the Practice –
Capitalize on the Opportunity
Migrate the focus of your client dialogs from compliance to business
improvement.
Develop dashboards of key performance indicators that enlighten your
clients as to the status and trends in their business.
Proactively educate yourself and your team about the issues driving
business changes in your target market.
Participate in the industry forums of your target market, establishing
yourself and your colleagues as trusted advisors.
18

19. OBJECTIVE&VISIONSETTING

20. How clear is your vision?
Does everyone have the same vision?
20

21. “Being the ‘back office’ has moved from looking out the rear view
window to being the navigator… Finance has the ability to drive
change because you have the perspective.”
- Safra Catz, CEO, Oracle
Keynote -“Leading Through Disruption: The Role of Modern Finance”
21

22. Source: “CGMA Managing Innovation: Harnessing the power of finance”

23. Trusted Advisor
“What would a true trusted advisor look like? It really is
the exception rather than the rule when we see true
trusted advisors in our firms. It takes great courage, rigor
and being proactive and anticipatory to continually earn
the privilege of being a client’s trusted advisor.”
- Joey Havens, CPA, managing partner, HORNE
“You Call Yourself a Trusted Advisor – So What?”
23

24. DIGITAL CPA NETWORK

25. Resources
CPA of the Future Study
o www.CPA.com/Future-Ready-CPA
Templosion 10 Part series from AICPA
o http://www.smartbrief.com/s/2013/08/templosions-impact-
competition
“Accounting Services - Harnessing the Power of the Cloud”
o Dr. Geoffrey Moore
o http://www.cpa.com/whitepapers/accounting-services-
harness-power-cloud

26. THANKYOU!
@SnMansfield
#DigitalCPA