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management

the coming war for talent: it’s about the money

money lures one in five staffers to new job.

newly released survey data show that almost 20 percent of cpa firms’ junior staff, those with three years of experience or less, plan to leave their current firm by the end of 2010 and another 20 percent are looking to leave by the end of next year.

according to  jess scheer, editor of cpa partner report published by ioma, “the implications are  jaw-dropping.”

a new ioma study, which compares consulting firms in general to accounting firms in particular, shows that 23% of mid-level cpa talent say they could be persuaded to jump ship with better compensation.

and 23% say they’d do it for less than a 25% raise.

scheer sees five burning issues:

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busy season management

tax season survival tips start with tio, din and mit

meet your new best friends: tio, din and mit. and put them to work this busy season to get things done, keep clients happy and live to tell about it.

by rick telberg

after more than 40 years in practice, cpa ed mendlowitz knows a thing or two about tax season.

ed mendlowitz
ed mendlowitz

in fact, mendlowitz knows more than “a thing or two.” he holds the pfs, abv and cff credentials. he’s the author of 18 books, the editor of four others, a prize-winning writer for the journal of accountancy, a college instructor, successful cpa firm ceo, a nationally recognized adviser to senior accounting firm partners.

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client service opportunities

six steps to master the art of the quick phone call

good advice from a top venture capital investor on what he wants to hear.

mark suster
mark suster

before you call mark suster, a two-time entrepreneur who joined grp partners in 2007  after selling his company to salesforce.com, with your next big idea, first listen to some of his advice.

“when a person calls me and we’re 10 minutes into the call and it’s not clear why they’re calling i’m usually thinking to myself, “what was the reason they wanted to call me in the first place?  what are they hoping to achieve?” and mostly, “how can i help?”

suster’s suggests:    read more →

outlook & analysis

new cloud-based tool for salesforce

expense management add-on for erp systems.

coupa expenses for salesforce is part of the coupa cloud spend management platform, a cloud-based service that, according to the company, “consolidates e-procurement and expense management into a single solution for managing, and more effectively controlling, all business spending.”

“a small company like coupa needs association with a big, known company like salesforce,” noted jason hekl, vp of marketing at coupa.

in a similar vein, outright.com recently announced its availability through google apps.

the product allows salespeople to electronically file receipts and put the information into expense reports, and lets managers see how travel and entertainment expenses impact their budget before reimbursements are approved, according to daniel dern writing for informationweek. additionally, according to the company, “accounting managers gain intelligent scoring to prioritize expense report audits, and executives finally have insights into the true cost of sales.”

pricing for coupa expenses for salesforce starts at around $20,000 per year for 20-50 users.

management

strategy execution: what’s standing in your way?

from the management experts who first calculated that only 10% of strategies are actually implemented:

four barriers to strategic implementation

four barriers to  implementation

  1. 85% of executive teams spend less than one hour per month discussing strategy.
  2. 60% don’t link budgets to strategy.
  3. only 25% of managers have incentives linked to strategy.
  4. only 5% of the workforce understands the strategy.

it’s people, management, resources and vision. hmm. could there be anything else?

source: robert s. kaplan and david p. norton, “the strategy-focused organization”

outlook & analysis

six reasons your big plans will fail

why do well-formulated strategies fail so often?

norman marks
norman marks

why is it that less than 10% of strategies effectively formulated are effectively executed?

norman marks, a grc guru and sap evangelist, knows:

  1. decisions may be made based on unreliable or untimely information. this is an issue that affects the setting of strategy as well as planning, execution, and monitoring of performance
  2. employees don’t understand how the strategy affects them, and how their decisions impact others. the strategy is very high-level and not translated into actions each manager has to take to deliver on the strategy – which are then clearly communicated to those managers. in fact, they continue to work on their own projects, and their own priorities, which may not be linked to the enterprise strategies, goals, and objectives
  3. it’s unclear who is accountable for ensuring execution of initiatives, projects, and tasks
  4. there’s no link between strategy and risks. risks are not addressed and managed, during strategy definition, planning, execution, or monitoring
  5. there’s no link between budgeting and strategy. i have seen situations where the company falls short of its performance targets, generating less cash than expected, but doesn’t have the linkage to drive adapting the strategy, major project plans, etc.
  6. incentive systems aren’t linked to the achievement of the organization’s strategy, and individual goals are not aligned with the company’s

what are the reasons in your organization?

growth strategies

building the firm of the future with lisa cines

at aronson & co., lisa cines says technology is reshaping workflows, roles, responsibilities, and how cpas form and maintain professional relationships.

by rick telberg

if you’re looking for clues to the future, ask lisa cines.

lisa cines
lisa cines

until last june, lisa cines was chief executive at aronson & company, a top 100 firm. but then she turned over day-to-day duties to a chief operating officer and took on the role of officer in charge of corporate and business development. to her, the job gives her license to pursue the big, strategic opportunities that are opening for a firm like hers. she is, in a nutshell, working to build her version of the firm of the future.

cines is grappling with a handful of tectonic shifts in the world and in the profession.

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outlook & analysis

4,700 more jobless accountants this month

headcount hits new post-crash low.

the number of jobs in the accounting and bookkeeping sector sank again last month to a seasonally-adjusted 878,600, down 4,700 from the month before and 91,500 off the peak of 970,100 in february 2008.

accounting and bookkeeping services, all employees in thousands
accounting and bookkeeping services, all employees in thousands

at the same time, the nation added 151,000 private sector jobs, the 10th straight months of albeit anemic gains, according to the latest data from the u.s. bureau of labor statistics. the nation’s unemployment rate remained unchanged at 9.6%.

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management

thomson, cch going mobile

there’s an app for that.

both cch and thomson reuters headlined their user conferences with new mobile apps.

first, thomson reuters released mobile cs, “a first-of-its-kind iphone app for tax and accounting professionals.”  as a practice management tool, it extends practice cs from desktop to iphone. practice cs has 60,000 users.

then, cch launched cch mobile, a mobile app providing smartphone access to intelliconnect tax research.

to jim boomer of boomer consulting, the trend is clear:

these two announcements signal to me that the capabilities of mobile devices like the ipad and smartphones will continue to expand in regards to business applications. i don’t think it’s a surprise that both companies are headed in this direction. what is eye-opening is the speed with which they’ve responded to the market’s rapid adoption of new mobile devices. hold on for the ride, i think the next several months will be quite interesting!

outlook & analysis

the ticking time bomb in your firm

new evidence suggests many cpas are ignoring malpractice risks.

kathleen s. long
kathleen s. long

by kathleen s. long
montage analytics

in research on causes underlying accountant professional liability, we are discovering an alarming phenomenon: practice risk apathy.

we are finding that a statistically greater than expected number of cpas are apathetic to practice risk management. early results indicate that while cpas gobble up “war stories” and “top ten lists” about risk management, getting them to examine their own practices and make risk management an action item is a different matter altogether.

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leadership

jason blumer: don’t believe the lies

cpas brainwash themselves. here’s how to fight back and finish strong.

jason blumer
jason m. blumer

by jason m. blumer
thriveal +cpa network

i hear it all too often from the old guard retiring: “i’m worn out,” or “we are merging because we don’t have the stamina to make the last 5 years,” or “i’m too old for all of these techy changes,” or “developing the next set of partners for our firm is just too time consuming.”  my dad said this stuff before he retired in may 2009.

it seems the end of a public accountant’s career is steeped in misery, being “worn out” and adverse to change.  not a very exciting picture for those entering universities deciding what to major in!  is this what the younger generation has to look forward to when they retire?

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client service opportunities

cch’s kevin robert: how client portals solve a client service puzzle [video]

are portals part of your client service strategy yet?

in this series of soundbites from his keynote speech at the annual cch users’ conference, cch wolters kluwer ceo kevin robert starts by challenging accountants to understand their clients’ service needs. he argues that portals are now an essential part of delivering a full range of client services, delivered the way the client may prefer:

[youtube]m3z0zzoqy0i[/youtube]

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