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The fast future
Get ready for …
The anticipatory accounting
and finance professional
Bill Sheridan, CAE
The Business Learning Institute
“When the job is in
the way of the work,
consider changing
your job enough that
you can go back to
creating value.
Anything less is
hiding.”
Seth Godin
Top five issues
impacting CPAs
1. Keeping up
2. Information overload
3. Doing more with less
4. Being proactive vs. reactive
5. Complexity
Bill Sheridan, CAE
The Business Learning
Institute
0 2 4 6 8
Poor reputation
No personal relationship
Inadequate staff to meet…
Out-of-date technology
Fees were too high
CPA lacked expertise
Referral to a new firm
Poor responsiveness
CPA advice not proactive
Why SMBs leave their CPA /
accountant
Bill Sheridan, CAE
The Business Learning
Institute
Source: CPA.COM Insight into
the CPA of the Future Study 2014
Only 8% of CPAs are future-ready
Future-ready is the capacity to be
aware, predictive, and adaptive of
emerging challenges, tech
innovations, and trends and
changes in business, population,
and social environment.
Bill Sheridan, CAE
The Business Learning Institute
5 steps to becoming future-ready
1. Context
2. Certainty
3. Capacity
4. Competence
5. Core beliefs
Bill Sheridan, CAE
The Business Learning Institute
“We stand on the brink of a technological
revolution that will fundamentally alter the
way we live, work, and relate to one
another. In its scale, scope, and
complexity, the transformation will be
unlike anything humankind has
experienced before.”
-- Klaus Schwab, World Economic ForumBill Sheridan, CAE
The Business Learning Institute
“In the next five years,
game-changing
technologies
will transform every
business process,
including how we sell,
market, communicate,
collaborate, educate,
train, and innovate.”
-- Daniel Burrus
Source: Frey & Osborne,
“The Future of Employment,” Oxford University
Race against the machines?
Bill Sheridan, CAE
The Business Learning
Institute
47%of all jobs gone within 25 years
‘No government is
prepared’ for that level of
job loss
Source: The Economist
Bill Sheridan, CAE
The Business Learning Institute
Are your offices, workspaces,
and technology future-focused?
Do you know what your clients
are facing now and in the future?
Are you using the language of
the future or the past?
Will students and potential
employees feel like they are
traveling back in time when they
walk through your door?
Hard trends = future facts
Four hard trends:1. Government regulation
2. Technology
3. Demographics
4. Globalization
Disruption and RONIThe gap is widening, faster!
Source: Clayton Christensen, “Innovation Killers”
We think this
is the
trade-off
Bill Sheridan, CAE
The Business Learning
Institute
6 ways to create
capacity
• Maximize the software and tools you have
• Use the latest, most efficient technologies
• Workflow and process efficiency
• Focus on your best ‘A’ clients / customers
• Communicate your services (cross-sell)
• Engage your people
Competency
Disruptions before they disrupt
Problems before you have them
Customer needs before they have them
New opportunities before the competition
Anticipate
Source: Daniel Burrus
The researchThe latest research inside and
outside the CPA profession re-
affirms the top competencies
and skills needed by accounting
and finance professionals.
Bill Sheridan, CAE
The Business Learning Institute
Top skills that accounting and finance
professionals need today
BLI Research in 2015 with over 1,000 responses from all segments of the CPA
profession identified these top skill needed to be successful in these rapidly
changing times. This confirms and reinforces the research from the Conference
Board, AICPA’s CPA Horizons 2025 report, Bersin, and Burrus Research.
75%
covered by
these top 5
skills
V
A
L
U
E
Adding Insight for Action
Information
Wisdom
Knowledge
Data
Compliance
Reliance
Source: CGMA and DIKW Pyramid
V
A
L
U
E
#FutureReadyIs 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.
Bill Sheridan, CAE
The Business Learning Institute
Respond lightning fast
Access an encyclopaedic memory
Stay awake 24 x 7 x 365
Remember conversations
Analyze on the fly
Continually learn and improve
Advantage,
machines
Source: AccountingWEB
Intuition
Political acumen
Challenging
Reading the back story
Who’s who?
Probability of change
Culture
What’s in it for me?
Advantage,
humans
Source: AccountingWEB
“Professional
judgment and
expertise is not
replaceable by
machines.”
— Cathy Engelbert
CEO, Deloitte
“What can I become quite good at
that’s really difficult for a computer t
o do one day soon? How can I
become so resilient, so human and
such a linchpin that shifts in
technology won’t be able
to catch up? It was always
important, but now it’s urgent.”
-- Seth Godin
Trust
Integrity
Objectivity
Excellence
Lifelong learning
Core beliefs and values
Protect the core and stimulate progress
5 steps to becoming future-ready
1. Context
2. Certainty
3. Capacity
4. Competence
5. Core beliefs
Bill Sheridan, CAE
The Business Learning Institute
The challenge and
opportunity is to make
the shift from the first
curve to the second
curve at the right time
and with the right
strategy.
Books These are among the resources that were discussed during
the our “Future-Ready CPA” programs.
The Future of the Professions:
How Technology Will Transform
the Work of Human Experts
By Richard and Daniel Susskind
www.susskind.com
The Fourth Industrial Revolution
By Klaus Schwab
bit.ly/1qLrfzs
Flash Foresight: How To See
The Invisible And Do The
Impossible
By Daniel Burrus
bit.ly/1SOn7FG
The Second Machine Age: Work,
Progress And Prosperity In A Time
of Brilliant Technologies
By Erik Brynjolfsson
and Andrew McAfee
www.SecondMachineAge.com
The Industries Of The Future
By Alec Ross
bit.ly/2fP8cnU
Thank You For Being Late: An
Optimist’s Guide to Thriving in
the Age of Accelerations
By Thomas Friedman
bit.ly/2hag0Rg
What SMBs Want From Their
Accountant
From The Sleeter Group
bit.ly/2fCsvkc
Welcome to the Fast Future
From CPA.com
bit.ly/2gdHlBj
The Future of Employment: How
Susceptible Are Jobs To
Computerization?
By Carl Benedikt Frey and
Michael Osborne
bit.ly/1kre5T6
CPA Horizons 2025
From the American Institute
of CPAs
bit.ly/1UEN1x2
Innovation Killers: How Financial
Tools Destroy Your Capacity To
Do New Things
By Clayton Christensen,
Stephen P. Kaufman
and Willy Shih
bit.ly/1JtBxfG
Ready-Now Leaders: Meeting
Tomorrow’s Business
Challenges
From DDI
bit.ly/V05HQ6
WhitepapersThese are among the resources that were
discussed during the our “Future-Ready CPA”
programs.
Download these slides:
Slideshare.net/BillSheridan
Follow me:
MACPA’s blog: CPASuccess.com
Facebook.com/BillSheridan
LinkedIn.com/in/BillDSheridan
Twitter.com/BillSheridan
YouTube.com/BillSheridan
SlideShare.net/BillSheridan
Instagram.com/BDSheridan
The future-
ready CPA
Bill Sheridan, CAE
The Business Learning Institute