This presentation from Rob Nixon was given at the 2014 Reckon Group Conference at the Hilton Sydney in August.

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Disruption in the
Accounting Profession

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1. Accountants are the natural
trusted advisers
Our beliefs and why we exist!
2. Cloud is not a fad, it is here to
stay and it will fundamentally
change everything
3. Accountants who add value don’t
earn enough for how smart they
are
4. Accountants can make a massive
difference to their clients
condition.

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Convergence of technology

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Heavy data vs light data

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Accountants salaries in the Philippines
Qualifications / Experience
Annual Salary
PH Peso*
Annual Salary
AUD$
Per Hour AUD
(1800 hrs)
Newly Grad Accounting (non CPA) P130k – P156k $3,200 - $3,800 $1.77 - $2.11
Accountant (non CPA) few years
experience
P182k – P260k $4,400 - $6,300 $2.44 - $3.50
CPA Accountant (just qualified) P234k – P286k $5,700 - $6,900 $3.16 - $3.83
CPA Accountant (5 years
experience + can supervise)
P286k – P390k $6,900 - $9,500 $3.83 - $5.27
CPA Accountant (CFO, Head of
Audit level)
P390k – P585k $9,500 - $14,200 $5.27 - $7.88
* These salaries are what the team member is paid as at February 2015
* Plus BPO (business process outsourcing) “seat fee” costs of approx. AUD$500 - $750 per person per month

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1 2 3 4 5
Y E A R S
The effects of disruption on compliance
CAPACITYHOURS
10,000
8,500
7,000
5,500
4,000

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1 2 3 4 5
Y E A R S
The effects of disruption on compliance
CAPACITYHOURS
10,000
8,500
7,000
5,500
4,000
$10,000
$8,500
$7,000
$5,500
$4,000
PRICE

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The future of employment – how
susceptible jobs are to computerisation
– C Frey & M Osborne 2013

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Whatareyougoingtodo?
Service
Team
Marketing
Pricing
Sales
Cloud
Real
Train your
Improve
client
Promotion
Time
Every day
Increased
Differently
Skills

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Redundant or Real time?
Redundant Data Accountants Real Time Accountants
Offers advice late or not at all Offers advice before it happens
Processes work and administration Value added services that help
Waits for things to happen On front foot making it happen
Majority of revenue in compliance Majority of revenue in VAS
Prices in arrears Prices every project upfront
Doesn’t visit / call me Visits and calls on systematic basis
Doesn’t follow up Follows up on every opportunity
Doesn’t promote the latest thing Always promoting
Most clients on ‘hard drive’ accounting Most clients on ‘cloud’ accounting
Numbers power with the client Numbers power with the Accountant

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The Awesome 8
profit

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1. Cashflow analysis, forecasting & monitoring
2. Revenue / Profit Improvement Program
3. Debt re-structuring
4. Interest reduction service
5. Receivables / Inventory management service
6. Virtual Management Accounting
7. Cloud conversions
8. Sort out the numbers
9. Planning session
10. Monitoring & Accountability program.
Cloud & the numbers

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#1
Compliance
Commoditised
#2
Cloud
for
>90%
SME’s
#3
Cloud
for
>90%
Accts
#4
Coaches
taking
clients
#5
Clients more
transient
#7
Compliance
price down by
>50%
#6
Off-shore
prevalent
#8
Marketing
and sales
skills
firms
#9
Young people
will not buy
into staid &
boring
#10
No time
based
billing
#11
Value Added
Services >80%
of revenue
#12
Clients
finally
served
properly
12 predictions

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THANK YOU