Transforming Your Accounting Firm - Why the Most Successful Firms Embrace Disruption

Why The Most Successful Firms Embrace Disruption

The rate of disruption is escalating across every industry, thanks to an increase in computing power, technology advances and information sharing.  Add in the generational shifts and it becomes evident that there is a virtual tsunami of change coming.  Firms of all sizes should be prepared to respond to inescapable factors that are poised to disrupt the profession.

Top firms are not only embracing the changes, but they are using disruption to their advantage.  They have cracked the code for how to become a talent and client magnet and are using new technology that delights clients and staff, and adds significant profit to the bottom line.  In short, they have stepped out of their fear, and into their success.

Major topics covered in this CPE session:

• Definition of Disruption
• Latest trends that indicate you can’t escape disruption
• How Digital Transformation is driving the way clients and firms work today
• Staffing trends to be aware of
• Top recommendations to help your firm thrive

How to Outperform Peers and Delight Staff In The Process

No one tells accounting professionals when they enter the profession, that they will actually end up with two jobs.  One is the actual accounting and/or tax work, and is the part of the job that you love.  You can make a real difference to your clients' businesses and even their personal lives as well.  It is deeply satisfying and you are good at it.  But the "other job" is not satisfying and it is what holds you and your firm back.  In a nutshell, it's all the time you have to spend gathering client documents.  This includes time spent chasing clients, searching through multiple platforms for documents, and asking staff members if they have what you need.  It's a mess.

Top firms have figured out how to do more of the joyful productive work, and much less of the drudge work, by making a simple shift in how they ask clients to work with their firm digitally.  They are reaping the benefits and now outperform their peers by up to 40%/

Come and learn the secret these firms are using to their benefit! 

Major topics covered in this CPE session:

• What is holding modern accounting firms back?
• The link between the “way” you ask for documents, and client response times
• How disrupting the admin work can make your firm a happier and more productive firm

How to Scale Client Accounting Advisory Service & VCFO with Offshoring!

After leveraging offshore staffing with Entigrity, your VCFO and senior accounting team will be able to be more focused on client strategies, planning, review, analysis and involved in advisory for better decision making and growth for your client businesses not just bookkeeping tasks. you will see our firm business more scalable than before.

Key topics covered in this CPE event:

• The changing face of Accounting.
• Introduction of the virtual CFO role in your firm.
• Strategies to make your firm ready.

The Great Resignation - and What You Can Do About It

Over the numerous months around the world, a tidal wave of resignations has been experienced. This is not only the case for the U.S. but also around the world. As an employer, this is a rather critical situation, if your key staff resigns. Managing the business was enough trouble in the times of COVID, with numerous adjustments and recalibrating the client expectations. With the situation gradually moving towards normalization, fulfilling the gap in the client expectations has just been one of the major challenges. With key staff resigning, this can be real trouble for employers around the world.

In this CPE session, we will have Chris Rivera share his views on how innovative technology-driven solutions that have bailed you out in the COVID scenario can assists you deal with this devil as well. He will also share his experiences on how they were able to help their clients with offshoring to deal with the challenges emphasizing on the right tools to deal with the challenges like technology, diversity, and bringing the overall joy of working.

• Offshoring is a great solution that helps you grow
• Bring the joy back
• Use the right tech
• Embracing diversity

How to Make it Easy for Clients to Work With Your Accounting Firm

The heightened competition combined with the removal of any home-town advantage means that firms who are able to make it drop-dead easy for clients of all ages to work with them (and still maintain a secure environment) will have an enduring advantage over firms who are still using traditional methods of working with clients.  If this sounds daunting, it isn’t. The good news is that by making a very simple change in how you ask your clients to securely send documents to you, your firm can present a truly modern face to clients, and help staff get more work done at the same time.   

Come and learn how you can get clients to respond to your requests in as little as six minutes. Your staff will get more done, your clients will love working with you, and your firm will be positioned to thrive in 2021 and beyond.  

Major topics covered in this CPE session:

• What are the current trends in Client Experience, and how can accounting firms benefit?
• What are clients of all ages looking for in terms of working with your firm?
• How is ease of use for clients linked to staff productivity?
• How can you easily arm your firm with the right technology?

How To Secure Your Remote Firm Without Being a Techie.

The pandemic has pushed businesses to work remotely and facilitate the work making more online whenever possible. However, with increased cyber threats, and data breaches reported constantly, employers think very carefully about various aspects questions about the technology aspects involved in remote work.

• Whether my existing set-up is enough to support the technology aspect of remote working?
• What security features should I have to ensure the data is safe?
• What types of training do I and my staff need to have to ensure my remote firm can work smoothly?
• I don’t feel comfortable with jargon and technology stuff when it comes to technology setups. How would I be able to cope-up with remote firm task management?

Leveraging a Virtual Family Office Experience.

The pinnacle of the wealth management hierarchy is ‘The virtual family office’ as it best optimizes the financial worlds of affluent clients. Ultimately, the effectiveness of any VFO will in large part be driven by the team’s commitment to shared values and disciplines, including transparency, collaboration, communication, authenticity, humility, and accountability.

A Virtual Family Office (“VFO”) is made of a team of professionals who rather collaborate together to create a seamless and holistic wealth management experience, facilitated through well-defined governance, structure, and process. “Virtual” in this context refers to the fact that advisory roles are coordinated across several firms by dedicated professionals.

With the pandemic, the new era of virtual working has started. With the remote working opening up the new doors of business activity, leveraging the virtual family office experience is now a simple solution rather than a distant dream. If you are looking to explore this solution to deal with the existing scenario, this session will help you with insights on how you can make this happen. 

Making The Transformation to a 21st Century Accountant

• How to help accountants become forward-looking 21st-century advisors by focusing on adding and delivering value to their clients through proactive & holistic planning.
• Explore the challenges accountants face, how they can get paid for value-added work, and ways to best adapt to the changes in their role.

Technological disruption necessitates a significant future overhaul in accounting and auditing practices. Developments in technology are driving new commercial models and working practices that have the potential to make the role of the accountant redundant. 

However, we all know that accountants’ numbers come to life and influence business decision-making when they are available in real-time and presented in a way that helps clients identify and focus on the important key drivers in their business. This enables us to identify and explain the likely impact of particular actions – or inaction – and translate the financial information into plain English to help identify business opportunities and manage risk. A problem, though, is that assessments of your business advisor's ‘passion’, ‘best tools’, and ‘right advice’ can be a bit subjective. Therefore here are some useful questions to ask for a more objective view of the value your accountant is adding to your business.

In this CPE session, Paul Latham is going to take up the challenge as to how you can make yourself 21st Century Accountant. He takes on the modern-day accountants’ challenges of adding and delivering value through proactive and holistic planning. This will be a key motivator and long-term path guiding session for the accounting professionals-entrepreneurs, accounting firms, Accounting staff, and Accounting businesses. 

Offshoring Challenges ! Ask the Expert Panel Discussion !

Investing in offshore staffing services has proved to be a life-altering experience for numerous professionals around the world, they swear by the cost-effectiveness and peace of mind that comes naturally with offshore staffing.

Maintaining a sense of team and managing the team experience is critical. We want to explain everything that we could about better offshore staffing, including its challenges, how people feel about it, and the best ways to engage and enable integration and smooth working of local and offshore staff together and learning directly from the feedback, suggestions, reviews of our clients (your peers)

In this CPE session, we would be discussing some common concerns and challenges around offshoring and available approaches and solutions. Come forward with challenges that either you are facing or anticipate to face and we will possibly try to resolve it.

Major topics covered in this panel discussion:

• The benefits of offshore staffing.
• The challenges of offshore staffing.
• Solutions for the challenges of offshore staffing.
• This is not a traditional CPE session but a highly interactive meeting. Here we would interact with the audience most of the time and help them with their challenges and situations and we would be taking your questions on the go.