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Reignite your practice: adopt a future first mindset

Sam AllertCEO Reckon

Digitisation!

Automation!

Artificial Intelligence

Machine Learning!

Evolution Mindset / Future-First Thinking!

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AgendaIntro• Trends (this is happening)• Leverage stuff from acc group• Accountants daily• Brandalism / APS• Next generation / technology• In the Zone• NAB monthly business surveyAdvice (this is what you can do)• Workflow – aps• Marketing (how do they grow their practice, what

your business plan, goals etc) link to in the zone or resilience

• In the zone• ClientsBooks+ (tools to help)• add value proposition• bundle• action/next steps• bundling offer• video of members + calculator

Agenda

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The future is now: Key changes affecting the

accountancy industry

Change

Business Advisory Legislation

Customer Expectations

Technology

Workforce

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Driving better outcomes

Diversify services and embrace the new workplace model, firms must automate tasks and enable collaboration between teams.

Internet of Things is helping firms collect real-time data and customer feedback, which influences decision-making and allows accountants to give clients actionable business advice faster.

1. The ability to cater to new client demandsMore than one-quarter of businesses (28%) say their accountants have never sought any feedback. These firms are missing opportunities to meet their clients’ broadening demands, with full-service accounting firms now the expectation.

Expectations for increased collaboration

More diverse roles and more complex tasks demanded by clients, accountancy firms can expect to see greater collaboration on the ground

This increased collaboration will come in many forms, from accounting roles working together to solve problems, to local and international practices collaborating due to a more globalised industry.

In their 2018 report – The New Physics of Financial Services – The World Economic Forum found that “collaborative solutions built on shared datasets will radically increase the accuracy, timeliness, and performance of non-competitive functions, creating mutual efficiencies in operations and improving the safety of the financial system.”

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Future proof your practice

Any investment you make in your business will pay dividends if and when it comes time to move on. Any potential buyer looking at your firm will inevitably review your in-house systems and automation software.

Forbes reveals that “McKinsey found […] 49% of leading companies, in revenue growth, EBIT growth and digital investment, are investing in digital more than their counterparts do.”

Take back control

In a hypercompetitive industry like accountancy, firms need to take control of their business’s future by futureproofing themselves against trends and changes. Digitisation and automation allows you to do just that, in a user-friendly accountancy solution that solves all the problems that ways of the past brings.

Isn’t it time you took control of your firm’s future?

Australia’s automation opportunity highlight significant upsides

50 – 150%Increase in average annual productivity growth compared to baseline

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Business Efficiency :

How your practice

can get in the zone

Getting ‘in the zone’

Many can relate to being ‘in the zone’ – a state of heightened focus, efficiency and productivity. It’s a great feeling, but distractions and things like admin, payroll and compliance can hold small businesses back.

We spoke to over 1,300 small businesses to understand the benefits and barriers to being ‘in the zone’ at work.

Through our research we found that small businesses around Australia are feeling the weight of administration and red tape, and that it can cost time and real money. In fact, it’s estimated that Australian small businesses collectively spend over $20.16 billion a year on admin and payroll.

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How does admin affect small business owners

Administration can place a real financial and emotional burden on small

business. It’s not only impacting the enjoyment of starting a business but

leading to sacrifices that could affect the mental or physical health of

individuals.

Time & Money

Goals & Well-being

Compliance risk

Not operating at their peak

Spending too much money & time on admin

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Refocus on goals & well-being Tips and advice for getting ‘in the zone’

Work-related distractions prevent 60% of all small business leaders from getting‘in the zone’. Whether it be staff disruptions, admin or email, there’s plenty keepingpeople from doing what they want, need or must do. Our research showed therewere specific things that those who are most successful at achieving a state ofheightened focus, efficiency and productivity do.

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The opportunity for – You! Trusted Advisor

Not ready for STP

And according to the ATO’s latest estimates 300,000 small business are yet to register for Single Touch Payroll.

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Accessible Tech Tools for Better Business

Today, small businesses have access to the tools − from world-class manufacturing, logistics and cloud computing − that were once the sole domain of the big enterprises.

Small businesses can win by using business infrastructure, like cloud computing, that turns fixed costs into variable costs, allowing them to scale their resources up and down and only pay for what they use. The yearly growth rate of Australia's cloud

market, boosted by SaaS adoption ^

^ Gartner Research 2017

The solution.

An industry first cloud accounting solution for IPA Members

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So how does it work?

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Exclusive for PPC holders IPA Books+ Single Touch Payroll

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IPA Books+ Single Touch Payroll IPA Books+ Single Touch Payroll

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IPA Books+ Bank Data IPA Books+ Bank Data

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We’re always here to help Opportunity to grow clients & your practice

• CPD credits when you onboard clients to IPA Books+.

• Dedicated member and client support

• Access to IPA Books+ Training Academy for in-depth learning

• Training/events calendar throughout the year

• Better collaboration because your client books are linked to you

Cloud Advisor benefits

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Thanks!It’s a fast-moving world How do you succeed in

today’s world?

Help Your Clients! Be Healthier! Make More Money!

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