The CPA Firm Of NOW! June 8, 2017

Tommy Stephens CPA from Woodstock, Georgia Member, K2 Enterprises Thirty-two years public accounting & private industry experience Twenty-two years CPE discussion leader BSBA (Accounting) Auburn University MS (Finance) Georgia State University Please contact me: tommy@k2e.com Follow me on Twitter: @TommyStephens Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

So many great technologies are available today to improve CPA firm efficiency and profitability, why wait for the CPA firm of the future? Let’s take a look at the CPA firm of NOW! Why this topic? Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

Path To Improved Profitability Collaborative accounting Workflow Scan-and-populate Security Business Intelligence Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

Accounting Software Solutions By Segment Large SMB (100,000 Companies) Employees 500-2500, $250M-$1B Revenue Enterprise (9,000 Companies) Employees 2500+, >$1B Rev Entry & Microbusiness (23M Companies) Employees 1-4, < $1M Revenue Small SMB (3.2M Companies) Employees 5-99, $1-50M Revenue Medium SMB (600,000 Companies) Employees 100-499, $50M-$250M Revenue X3 Online Live 300c 100c 50c Cloud SOLUTIONS ON-PREMISES SOLUTIONS 100, 300, 500, X3 Specialty AX, NAV, GP SL, CRM Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event. 5

Small Business Sub-Segments Personal and Entry-level Transaction Recording and Bookkeeping Lower Mid-Market Entry-level Accounting Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

Workflow We all have workflows, but in most cases they are not documented and we are not using workflow management tools to control Tools such as those integrated with our tax software applications, along with independent tools such as those provided by XCM help to us to ensure that tasks are completed on time and in accordance with established Firm guidelines Additionally, don’t forget about Microsoft’s Flows and PowerApps tools, to implement workflows not only in your firm, but also assist clients with their workflows Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

Scan-And-Populate Scan-and-populate tools – such as those from SurePrep offer huge opportunities for efficiency improvement Be sure to optimize scanners for best results Even if you’re not intending to populate tax returns with the data, you can automatically create indexed working papers Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

Security You can’t afford a security breach! To help protect sensitive data Encrypt, encrypt, encrypt! Use password management tools Implement data loss prevention Keep team members from logging in as administrative users Block USB ports for data transfers Above all else, train your team! Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

Business Intelligence Tools such as Qlik, Tableau, and Microsoft’s Power BI are putting BI in the hands of small to mid-sized businesses CPAs have a great opportunity to assist clients in implementing such tools, which will help improve client profitability To be successful, BI must be Real-time Relevant Visual Interactive Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.

CSCPA Technology Conference August 28 and 29th Denver area 19 great topics over two-days Visit www.cocpa.org for details Copyright 2017 © K2 Enterprises, LLC. May not be used for any purposes other than a K2 Enterprises training event.