What Lawyers Can Learn From Accountants and their Journey to the Cloud

David LearyIntuit Small Business Ecosystem Evangelist

September 19th 2016

What Lawyers Can Learn From Accountants and their Journey to the Cloud

2September 19th 2016 | #ClioCloud9 | @DavidLeary

• Almost 20 years at Intuit• Support | Training | Quality Assurance | Product

Development | Marketing | Product Management | Project Management | Customer Advocate | Developer Relations

• “Awesome Add On” - ViewMyPaycheck Co-Founder• 2014 CPA Practice Advisor “40 under 40”• 2015 Accounting Today “One to Watch”

DAVID LEARYINTUIT SMALL BUSINESS ECOSYSTEM EVANGELIST

Tucson, ArizonaDavidLeary.com

@DavidLeary


To improve our customers’ financial lives

so profoundly…they can’t imagine going back to the old

way.


Why am I here?

https://www.sageworks.com/datareleases.aspx?article=329

We are in a once in a generation shift


YesterdayThe previous 15 years

~25 million in North AmericaHow small business owners run their businesses.

QuickBooks DesktopQuickBooks Online

pen, paper, spreadsheet


TodayWhere we are currently



QuickBooks Desktop QuickBooks DesktopQuickBooks Online QuickBooks Online

pen, paper, spreadsheetpen, paper, spreadsheet

phones, apps, cloud


TomorrowThe next 15 years




QuickBooks Desktop QuickBooks Desktop QuickBooks Desktop

QuickBooks Online QuickBooks OnlineQuickBooks Online


Pen, paper, spreadsheet


phones, apps, cloud

phones, apps, cloud


TomorrowThe next 15 years




QuickBooks Desktop QuickBooks Desktop QuickBooks Desktop

QuickBooks Online QuickBooks Online

QuickBooks OnlineandApps


Pen, paper, spreadsheet


phones, apps, cloud

phones, apps, cloud


QuickBooks Online Growth1,513,000

subscribers


Today (cloud)• Work from anywhere• Automated data entry• Freedom from zip code• Can focus on a niche• Real time data• Billing by the value created• Limitless client base

Yesterday (no cloud)• Chained to desk• Manual data entry• Limited to zip code• Had to know every niche• Data historians• Billing by hour• Limited client base

What the cloud brought accountants


Concept of accounting firm is changingOld “slow” companies may not transition wellOutsourcingHostingIt is cheap to start an accounting practice

Everything being reset or disrupted


Stopping commodity workAdvising clients and charging for the value Value BillingVirtual CFO servicesStopped writing off time e.g. 10% at many firms is like lighting a house on fireTeaching other accountants to move to cloud or re-invent their practice

Business models changing


We stopped saying “cloud”Not taking on C, D, F clients Accountants have become a family, help each other …lots of hugsAccounting firms now have a vision, a purpose, a “why”Accountants are social media savvyRun experimentsLeft their comfort zoneThey market their firms

Culture changes


BlockchainBank disruption / evolutionRegulatory (taxes, payroll, sales tax)Global landscapeCPA accreditation

Change isn’t done

Conclusion


Those of you that are at #ClioCloud9 have an advantage …you are years ahead of your colleagues.

You can make a lot of money……by re-inventing your practice before everyone else

and… …before the market forces you to.

Takeaway

You wont be a frim of the future if you aren’t a firm of now.– Rob Nixon

Author/Speaker

Stuff you should check out


• The Cluetrain Manifesto• http://cluetrain.com/

• The Future of the Professions - How Technology Will Transform the Work of Human Experts

• https://www.amazon.com/dp/0198713398• Soul of the Enterprise• http://www.thesoulofenterprise.com/

• Remaining Relevant - The future of the accounting profession• https://www.amazon.com/dp/1925209636

• Firm of the Future • http://firmofthefuture.com/

• My newsletter • http:://davidleary.com

Read or Listen


QuickBooksConnect.com

Thank you

Questions

Small Business & Entrepreneurship

What Lawyers Can Learn From Accountants and their Journey to the Cloud