1. clear vision and expectations
2. trust and respect at all levels
3. strong collaboration and teamwork
4. people who enjoy what they do, and the clients they serve
5. clear, ongoing 2-way communication
6. growing by design not chance
7. leaders are not just focused on the bottom line, but on helping people
achieve their best
8. don’t forget to have fun and celebrate accomplishments
tracy crevar warren is a marketing and management advisor to accounting firms.
of course a great place to work is still important in our industry and in each of our firms.
great people are drawn to the best firms. i believe that in a challenging economy, becoming and staying a great place to work is even more important. read more →
challenging the new normal for selling high-value services.
tom sant
by rick telberg
it won’t come as a surprise to finance executives, but it may be news to some accounting firms: the new normal for the post-crash economy is changing the rules of new-business proposals.
increasingly, accounting firms seeking enterprise-sized engagements are running into more difficult hurdles and more sophisticated rivals in the high-ticket, high-stakes request-for-proposal sales process.
you might as well get used to it and get good at it, according to a leading sales strategist for top accounting firms.
“the increased competitiveness is not going to go away,” says tom sant, ph.d., head of san luis obispo, calif.-based hyde park partners.
new “extensible” enterprise unbound by old notions of bricks and mortar.
by rick telberg
cloud computing is changing the costs and distribution of technology services and stands to make fundamental changes to the way business is done.
tom degarmo
whether you call it software-as-a-service, on-demand, online, web-based or any number of other terms, the new model “is becoming the it fabric of the future,” according to tom degarmo, philadelphia-based principal and technology leader at pricewaterhousecoopers after 14 years at bearingpoint.
to be sure, cloud computing is not new, and neither are its transformative effects. you are reading this article from the cloud. it was sent to you via the cloud. you went to the cloud to retrieve it. you might share it using an e-mail application (app) that lives in the cloud. in fact, cloud computing could have as much impact on business as the internet.
but in what can only be described by that over-used term as a paradigm shift, degarmo says in the report that cloud computing is already having a transformative effect on business strategy. in the new paradigm, cloud computing creates the “extensible enterprise.”
after several years of intense pricing pressure, 83% of cpa firm decision-makers say they plan to increase book rates next year.
and the best firms are planning the most aggressive price hikes.
about 70% of all firms plan to raise book rates 1% to 5%, according to the latest edition of ioma partner’s report (subscribe here). another 13% are planning rate increases of more than 5%. only 16% say they won’t raise prices next year.
about half have already increased book rates this year, with 44% holding the line and 7% actually cutting rates.
“is it reason to celebrate? maybe,” writes editor jess scheer. “but we suggest holding off on popping the champagne just yet.” realization rates remain dismal.
yet an increase in book rates can give a firm extra negotiating power. scheer adds, “we certainly see the anticipated increase in book rates as a good sign for the profession. cpa firms are at least going into the negotiations with some level of confidence.”
i spent twenty years employed in corporate america and for most of that time, i enjoyed it thoroughly! however, due to certain changes in american culture, such as: the recent economic turmoil, the influence of various foreign work ethics and markets, and what i would consider to be a debilitating strong-hold to a politically correct status,the corporate american culture has become a fear-driven environment which often disengages and dis-empowers the workforce that it so desperately relies on.
i have many conversations with managing partners of cpa firms who reveal the sentiment that professionals today should “just be happy to have a job.” this may be true, but is that an excuse to ask for more hours or to demand increased productivity on a restrained budget?
i’ve heard about canceled holiday parties and all kinds of perks being cut while cpa professionals are being asked to work harder than ever before.
truth be told, the workforce that any cpa firm has right now can offer much more in terms of talent and resources than might be imagined. they key is to empower the workforce so they want to contribute to the growth of the firm in a way that suits their comfort zone, showcases their abilities and allows them to shine.
it’s all about empowerment and identifying motivators for positive change.
lisa tierney is a certified professional coach and marketing consultant at tierney coaching & consulting, inc. she is also the president of the philadelphia chapter of the association for accounting marketing.
when salaries are tight, corporate culture becomes competitive differentiator.
by rick telberg
the days of concierge service and back rubs for accounting staffers may be over. but has building the so-called “great place to work” fallen by the wayside as a competitive necessity for firms and finance organizations in this economy?
in recent years, various media outlets and organizations have created a cottage industry in rating, ranking and publicizing the elements in compensation, benefits, working conditions and corporate culture that add up to a “great” or “best” place to work.
considering the realities of today’s economy, does a “great” place to work actually mean anything anymore? read more →
new accounting model for private companies gets closer to reality.
the aicpa has issued this statement by president and ceo barry melancon on the upcoming oct. 8 meeting of the blue ribbon panel on private company standard setting:
the blue ribbon panel on private company standard setting will meet in the aicpa’s offices in new york on oct. 8 and we anticipate based on the preliminary conclusions during prior meetings it will vote to recommend a new model of financial reporting that will generate truly differentiated standards for private companies. crucial to the effective implementation of that recommendation is establishing a separate standard setting board under the financial accounting foundation to provide a comprehensive solution to the problem of private company accounting. this has been a long time coming and i believe the case for a separate private company standards board under the oversight of the faf is stronger than ever.
without a doubt, the concept of “a great place to work” means something in the cpa profession.
the current economic crisis will pass and young recruits will be looking for great firms once again. while employee loyalty is not what it used to be and young accountants may not believe that the goal of every public accountant should be to become a partner in the firm, a great work environment, with great people, great benefits and an understanding of what makes the current generation love their work is as strong as ever.
there are many opinions on whether accounting firms should offer services to specific vertical industries and unique audiences. some firms believe that if you develop a niche, you may limit your opportunities for more business. generalists, on the other hand, want to be all things to all clients, so they offer services to a broad group of industries and types of companies.
moving applications and data to an online environment is inevitable. it’s simply part of the accounting profession’s evolution. if you look at the continuum of change, it becomes clear where next generation accounting firms are heading. pencil and paper to green bar reports and manual data entry… dos to windows… software cds to web download… and finally on-premise-based it solutions to saas (software-as-a-service).
the cpa technology advisor’s “40 under 40” program recognizes professionals who are actively engaged in “making tax and accounting practices stronger and better prepared for changes to come.”
