The Future Ready CFO ���Leading in Disruptive Times

Tom Hood, CPA, CITP, CGMACEO

Maryland Association of CPAsBusiness Learning Institute

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If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today

Tom Hood, CPA, CITP, CGMA

CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential Person in Accounting by Accounting Today Magazine Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management, Leadership & Generations

CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org

http://www.linkedin.com/in/tomhood/

The # 1 Challenge

The Overwhelmed Employee

The average US worker now spends 25% of their day reading or answering emails 25%

More than 80% of all

of companies have a program to “simplify work” or help employees deal with stress.

16%

The average mobile phone user checks their device times a day. 150  

of the US population believes it is impossible to succeed at work and have a balanced family life.

40%

The “average” US Worker works 47 hours and 49% work 50 hours or more per week, with 20% at 60+ hours per week

companies rate their business “highly complex” or “complex” for employees.

Source: Deloitte Human Capital Trends 2014 and 2015

#FutureReady!Is the capacity to be anticipatory (aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry.

Source: CPA.COM Insight into the CPA of the Future Study 2014

92% of CPAs Not #futureready

Borrowed from the US Army War College, VUCA was coined by Bob Johansen of The Institute for the Future to describe the rapidly changing and complex business environment since the Great Recession of 2008.

“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.”

Klaus Schwab on The Fourth Industrial Revolution – World Economic Forum

www.blionline.org

Exponential Pace of Change

Big Waves of Change

Race Against the Machines?

Source: Frey & Osborne – The Future of Employment – Oxford University

“One interesting finding of the survey is that CPA firms, early majority or not, don’t really see a competitive threat from specific challengers.”

– Erik Asgeirsson – CEO of CPA.COM

You  can’t  stop  the  waves,  but  you  can  learn  how  to  surf.    –  Jon  Kabat-­‐Zinn  

5 Steps to be Future Ready

1. Initiate Change2. Go Digital3. Elevate Skills4. Protect the

Core5. Enjoy the Ride

If it can be done it will be done and if you don’t do it, someone else will. – Dan Burrus

Initiate Change

Go Digital - Create Capacity

1.  Maximize software & tools you have

2.  Use the latest and most efficient technologies

3.  Workflow & Process Efficiency

4.  Engage your people

MACPA’s Digital Transformation

Cloud/Mobile Strategy1.  Digitization & workflow –shifting resources and

systems to growth areas

2.  Virtualization – Moving IT infrastructure to cloud

3.  Transformation to cloud – Increase use of existing systems of engagement (collaboration and communication tools)

4.  Transformation to cloud – New cloud based systems – accounting

5.  Transformation to cloud – Move AMS and MACPA website

If you automate, you must elevate, (the skills of your team).- Mike Walsh futurist

Top Skills Needed for Accounting and Finance Professionals

BLI Research in 2015 with over 1,000 responses from all segments of the CPA Profession identified these top skill needed to be successful in these rapidly changing times. This confirms and reinforces the research from the Conference Board, AICPA CPA Horizons 2025 report, Bersin, and Burrus Research..

75% covered by these Top 5

Skills

•  Anticipating, introducing and managing change;•  Building consensus and commitment;•  Inspiring others toward a challenging future

vision;•  Leading across generations and mobilizing

people around a shared purpose.

The top four skills needed to navigate a VUCA world

BLI Leadership Academy and The Anticipatory Organization learning

programs address these critical competencies and more.

Source: Conference Board 2015 Ready-Now Leaders Report

Are you addressing the GAP?���Competencies for Finance & Accounting

Source: CEB

•  An>cipa>on  •  Strategic  Thinking  •  External  

Awareness  •  Vision  •  Con>nuous  

Learning  •  Innova>on  •  Crea>vity  •  Problem  Solving  •  Priori>za>on  

•  Business  Acumen  •  Decisiveness  •  Influencing/

Persuading  •  Emo>onal  

Intelligence  •  Consensus  Building  •  Collabora>on  •  Inspira>on  •  Risk  Management  •  Communica>on  

www.blionline.org/ao  

28  lessons  –  4  modules  –  1  hour/week  •  Very  short  single-­‐concept  videos  (mini  TED  Talks)  •  Rapid  applica>on  exercises  •  Visual  job  aids  to  reinforce  learning  

Anticipatory Organization - designed to learn more in less time

Core values: •  Integrity •  Competence •  Lifelong learning •  Objectivity •  Commitment to excellence

CPAs…Making sense of a changing and complex world

CPAs are trusted advisors who help people and organizations shape their future. Combining insight with integrity…

Protect the Core – Purpose & Values

We are in the “Groan Zone”

Enjoy the Ride – Learning and Innovation

5 Steps to be Future Ready

1. Initiate Change2. Go Digital3. Elevate Skills4. Protect the

Core5. Enjoy the Ride

Closing Thoughts

Rearview Mirror to Windshield View Past to Future Reactive to Proactive

Insight to Action

CFOs are PROACTIVE!

Disruption and RONI���The gap is widening, faster!

Source: Clayton Christensen, “Innovation Killers”

We think this is trade-off

Calendar - The No. 1 AppSpend just one hour per week in the future…

Vote for a question

Respond to Poll

Ask a Question

BLI.CNF.IO Select your sessionand join the conversation:

Future  Ready  CFO  Mid-­‐Atlan>c  CFO  Roundtable  Par>cipant  Feedback  &  Polls  

October  14,2016  

Top  5  Challenges  1.  Being  reac>ve  versus  proac>ve  2.  Finding  &  Retaining  Talent  3.  Not  enough  >me  4.  Changing  Accoun>ng  &  Technology  

Systems  5.  Doing  more  with  less  

Top  5  Skills  Needed  

1.  Communica>on  2.  Strategic  &  cri>cal  thinking  3.  Innova>on  &  Crea>vity  4.  An>cipa>ng  &  serving  evolving  needs  5.  Inspiring  and  mo>va>ng  others  

www.blionline.org

http://www.blionline.org

For more information:

Jennifer Stevens – Corporate Customized Learning Solutions ConsultantE: jennifer@blionline.orgP: 443-632-2317

This led to our work with world renowned futurist and business advisor and best-selling author, Daniel Burrus of Burrus Research. We worked with Dan to add the context of the accounting and finance profession to his Anticipatory Organization learning system to create the Anticipatory Organization” Accounting and Finance edition.

http://www.blionline.org/ao

•  An>cipa>on  •  Strategic  Thinking  •  External  

Awareness  •  Vision  •  Con>nuous  

Learning  •  Innova>on  •  Crea>vity  •  Problem  Solving  •  Priori>za>on  

•  Business  Acumen  •  Decisiveness  •  Influencing/

Persuading  •  Emo>onal  

Intelligence  •  Consensus  Building  •  Collabora>on  •  Inspira>on  •  Risk  Management  •  Communica>on  

www.blionline.org/ao  

Next Generation learning with 28 lessons in four modules three – four

minute single concept videos and rapid application tools to apply the learning directly to

the job. Organization and team collaboration tools to

support culture change.

Five hours of CPE Credit

•  14-16 hours of learning in bite size nano format

•  100 pages of job aids and exercises