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Tom Hood, CPA, CITP, CGMA
CEO Maryland Association of CPAs Business Learning Institute@tomhood The Top Skills Needed for Accounting and Finance Professionals in an Age of Machines
VUCABorrowed from the US Army
War College, VUCA was coined by The Institute for the Future to describe the rapidly changing and complex business environment since the Great Recession of 2008. Volatility Uncertainty Complexity Ambiguity The New Normal
1. Artificial intelligence, machine learning,
and cognitive computing in audit and tax 2. Big Data and high-speed data analytics 3. Adaptive and predictive cybersecurity 4. Virtualization and automation of processes and services (RPA – Robotic Process Automationn) 5. Mobile apps for business process innovation 6. Blockchains and cryptocurrency 7. Advanced cloud computing 8. Smarter smartphones and tablets drive mobile process automation 9. Virtualization of desktops, storage, applications, and networking 10. Social business applications Source: 2018 Top technology Trends – Burrus Research BLI-MACPA Research with over one thousand finance and accounting professionals Top 10 Technology Hard Trends Shaping the Profession in 2018
The capacity to be anticipatory
(aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry. Source: CPA.COM Insight into the CPA of the Future Study 2015 92% of CPAs Not #FutureReady Our purpose at BLI is to accelerate accounting and finance professionals in being even more future-ready and elevate their role as pro-active future-focused advisors
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 Our philosophy – what we believe…
You may have heard of
SaaS (software as a service). Subscription, cloud-based services like Salesforce, Gmail and Google Apps, and Quickbooks are all SaaS products. Now, BLI offers on-demand learning as a service, or LaaS. • Available 24/7 from anywhere • Unlimited access • Incredible learning catalog For one flat fee, your team of 5 or more can get our entire library of on-demand learning options. Or, you can customize a course catalog just for your organization.
• Anticipation • Strategic Thinking
• External Awareness • Vision • Continuous Learning • Innovation • Creativity • Problem Solving • Prioritization • Business Acumen • Decisiveness • Influencing/Persuadin g • Emotional Intelligence • Consensus Building • Collaboration • Inspiration • Risk Management • Communication www.blionline.org/ao
Confidential – Internal Use Only
Culture = Mindset, Skillset, and Toolset In order to remain competitive, to stay relevant, even to survive in this age of exponential change, HBK must adopt an anticipatory mindset, a ‘future view’ based on the hard trends we see shaping our future, and use those insights to help our clients capitalize on the opportunities that accompany digital disruption. Learning to anticipate and adjust to this new age in financial services is significantly changing the way our team members think, allowing us to be future-ready, ensuring we will be even more relevant as trusted advisors to our clients." Christopher Allegretti, CPA, Managing Principal and CEO of HBK. www.blionline.org/ao
blionline.org/ao KNOW WHAT’S NEXT Transform
Planning Ø Identify Hard Trends Ø Identify Soft Trends Ø Predicting Change Ø Transformation Influencers DEVELOP OPPORTUNITIES Transform Innovation Ø 8 Hard Trend Pathways Ø Accelerating Innovation Ø Anticipating Customer Needs Ø Game-changing Opportunities SHAPE THE FUTURE Transform Culture Ø The Power of Futureview Ø Leveraging Disruption Ø Using Certainty to Sell Ø The Collaboration Imperative ACCELERATE SUCCESS Transform Results Ø Elevating Trust Ø Time Travel Audit Ø Skipping Problems and Barriers Ø Reward Desired Behaviors THE ANTICIPATORY ORGANIZATION™ MODEL An Innovation and Transformation Accelerator
#FutureReady Competencies - Foundation Module
Common Leadership Competencies Know What’s Next Strategic Thinking External Awareness Vision Continuous Learning Develop Opportunities Innovation Creativity Problem Solving Prioritization Shape the Future Business Acumen Decisiveness Accelerate Success Influencing / Persuading Emotional Intelligence Consensus Building Collaboration “Everyone keeps telling accountants that they need to change their focus from the historic and the backward-looking, and to start being proactive and offering future-focused advice – but no one tells them how. The beauty of the Anticipatory Organization program is that it actually gives you a set of tools to harness the hard trends that are shaping the future, and use them to create new value for your firm and your clients.” Daniel Hood, Editor-in-Chief, Accounting Today
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. Tom Hood, CPA, CITP, CGMA • Top 100 Influencer by Linked-In w/ 750,000 followers • Member of Forbes Finance Council • CPA Practice Adviser Accounting Hall of Fame • Named the Second Most Influential Person in Accounting by Accounting Today Magazine for the past five years • Top 25 Influencers in Learning & HR by HR Examiner • Top 25 Public Accounting Thought Leaders by CPA Practice Adviser CEO, Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.BLIonline.org www.linkedin.com/in/tomhood/ – Accounting Today