Blockchain Implications for Business

There’s hardly a business that will remain unaffected by blockchain technology.


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With Steven Sacks

In Blockchain Basics for Business, Steve Sacks interviews Jack Shaw on the elements of the technology, its early beginnings, the industries impacted, and the practical business applications.

MORE VIDEOS and PODCASTS: The Art and Science of Hiring: Three Essentials for the COVID Age | What’s a Bot? New Tech Tools to Boost Your Practice | Your Competition Isn’t Who You Think It Is | Don’t Get Burned by These PPP Pitfalls

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Key takeaways:

  • Bitcoin is only an application of Blockchain which is the platform
  • Decentralized nodes eliminate the possibility of hacking
  • Blockchain has many business uses in the financial, insurance, media, medical, consumer and supply chain
  • Industries impacted by blockchain include energy, entertainment, manufacturing and transportation
  • Blockchain stores records such as identities, ownership of assets, business transactions and contractual commitments

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Jack Shaw is an innovation and change management consultant, who has been voted one of the world’s top 25 speakers and one of the top 5 technology futurists. Jack integrates his executive experience in Industry, technology, and consulting to speak on Innovation, Change Management, and Transformational Leadership. And, he has decades of experience designing, developing, and implementing emerging technologies and how these will impact business and society.

Jack has advised key decision-makers at such Fortune 500 organizations as Mercedes Benz, Bosch, GE, Coca-Cola, Johnson & Johnson, IBM, Oracle, and SAP. Jack has delivered over 1,000 keynote presentations and executive forums in 26 countries and every state across the U.S. He is a Yale University graduate, and holds a Kellogg MBA degree specializing in Finance and Marketing.

Jack’s expertise is in the strategic impact of leading-edge technologies, including Blockchain technology, 5G, the Internet of Things and Artificial Intelligence. He can be reached at https://jackshaw.io

TRANSCRIPT and SLIDE DECK (for PRO Members)

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The Art and Science of Hiring: Three Essentials for the COVID Age

After COVID, recruiting may never be the same, according to BIll Carroll, Hoops HR CEO.

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With Matt Solomon

Bill Carroll, CEO of Hoops HR, reveals the three keys to smart hiring for accounting firms, in this conversation with Matt Solomon.

“We look at retention in really three key areas,” Carroll says. “It’s security for that person. A lot of that has to do with income, but a lot of that has to do with how they’re treated internally as a person. How does the organization engage in conflict? How do they solve a conflict? Is there ultimately a resolution? There’s a security aspect to that, and pay is just a portion of that.”

“Care is another,” Carroll adds. “Security plus care. We look at care as benefits packages or access to benefit packages. Then there’s retirement and perks, which should really be aligned with your core values.”

The third element is appreciation. “Appreciation will ultimately lead to retention. We all know that experiences drive beliefs, beliefs drive behaviors, and behaviors drive results.”

 

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Replay: COVID Impact on CPA Firm M&A

M&A maven Robert Fligel says coronavirus is pushing deal-flow and trimming multiples.

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Featuring Robert Fligel
RF Resources

COVID-19 is putting new pressure on CPA firms to close merger deals, even if it means taking a haircut in the selling price, says Robert Fligel, the legendary New York-based CPA firm mergers-and-acquisitions dealmaker, in a new CPA Trendlines Flash Briefing.

Judy Trepeck on How to Think Beyond Accounting, with Steven Sacks

Clients need so much more than basic accounting & write-up.

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With Steven Sacks
The NEW Fundamentals

Armed with the latest technologies, accountants can do more than ever – faster, better, and cheaper. But too many accountants are missing the biggest opportunity that technology creates, according to Judy Trepeck, long a leading figure in the profession.

MORE from STEVEN SACKS: Bill Reeb: New Rules for the COVID Era | Is Your Message Open to Interpretation? |  Effective Communications in the Age of COVID | Why Proper Communication Is Critical | How to Create Effective Internal Communications | How to Select Your Firm’s Board | Trust Is a Key Organizational Ingredient | Real Influence Vs. Immediate Gratification | Fake It ‘Til You Make It: An Ultimate Goal? | 4 Ways to Boost Job Satisfaction | Have You Gauged Your Staff’s Enthusiasm? | Why Knowledge Maintenance Is Key
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In her conversation with Steven Sacks, Trepeck, currently senior vice president for customized training at the Michigan state CPA society,  outlines how CPAs can go beyond basic accounting to provide more value-added services. It requires experience, talent, ambition, and, maybe most of all, intuition.


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Trepeck provides a framework for any accountant to add advisory services to their menu of offerings.

Some of the key takeaways and the full transcript:

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Bill Reeb: New Rules for the COVID Era

Steven Sacks explores how the Coronavirus crisis is exposing all the bad habits of bad management.

With Steven Sacks
The NEW Fundamentals

CPA firms are ill-prepared for the new era of virtual, work-from-home partners and staff, according to Bill Reeb, a leading CPA firm practice consultant, in this conversation with CPA Trendlines contributor Steven Sacks.

More COVID Conversations:  When COVID ‘Got Real,’ with Gabby Luoma’ The COVID Outlook with Darren Root and Joel Hughes: A Long, Slow Climb back to Recovery | Steven Sacks: COVID Crisis Management | Jean Caragher: How to Fight ‘Fear’ and ‘Insecurity’ | Sarah Dobek: Learning How to Operate in the New Normal | August Aquila: What Comes Next? | Jody Grunden: COVID and Client Communications | Andrew Argue: On a Mission | Martin Bissett: COVID Slams U.K. Accountants, Too | Bill Reeb: Separating the Winners and Losers |

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Management at all levels will need to adapt, Reeb says, requiring new processes and procedures.  But more than anything, it requires new metrics of productivity. And, most of all, new habits.

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After a painful, wrenching re-positioning, Reeb says, firms will emerge stronger, more agile, and more profitable than they were before.

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When COVID ‘Got Real’

Tax season turns into ‘advisory season,’ and a whole new niche is born.

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By CPA Trendlines Research

Gabrielle Luoma, long one of the profession’s leading innovators, says the future under COVID-19 belongs to the quick and the smart, in this exclusive video interview with CPA Trendlines. Firms will need to deploy new services to attract new clients who may have not realized that they needed a firm like yours but now do.

MORE COVID CONVERSATIONS: The COVID Outlook with Darren Root and Joel Hughes: A Long, Slow Climb back to Recovery | Steven Sacks: COVID Crisis Management | Jean Caragher: How to Fight ‘Fear’ and ‘Insecurity’ | Sarah Dobek: Learning How to Operate in the New Normal | August Aquila: What Comes Next? | Jody Grunden: COVID and Client Communications | Andrew Argue: On a Mission | Martin Bissett: COVID Slams U.K. Accountants, Too | Bill Reeb: Separating the Winners and Losers |

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In this conversation, Luoma talks about what’s going on in the business, what’s going on with tax season, and what the future holds for CPA firms and the clients of CPA firms.

Speaking from her base in Tucson, Ariz., the CEO of MOD Ventures is bringing some of her DNA to regional powerhouse Beach Fleischman through a joint venture.

We started by asking about “when it got real?”

She responds, “We truly are affected by the whole world. We have clients in New York. Things changed for them rather quickly. And when they started changing, we started realizing, ‘Oh, my goodness, we’re going to have to really buckle down.’ In Arizona, we started seeing shutdowns mid-March. That’s when things really got real for us because then we started seeing that the businesses that we work with on a regular basis – we’re outsourced accounting, so we work with clients weekly, – we knew that we could be in trouble. We started working really hard on transitioning, and seeing what we needed to do to help our clients quickly.”

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The COVID Outlook: A Long, Slow Climb back to Recovery

Why Right Networks’ acquisition of RootWorks may be just what the doctor ordered

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With Rick Telberg
CPA Trendlines

The accounting world shifted a little with the acquisition by Right Networks, a cloud-hosting vendor, of RootWorks, a technology platform provider to CPA firms.

Though conceived before the pandemic, the deal was closed as the first wave of Coronavirus was crashing against the shores of the U.S. And it may be a sign of the times under pandemic conditions, as accountants — and, indeed, business in general — race for new technology solutions and business models.

See: Right Networks Acquires Rootworks

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In this exclusive interview with CPA Trendlines, Right Networks CEO Joel Hughes and Rootworks founder Darren Root, explain the reasons for the deal, and their forecast for the future under COVID. Warning: Their forecast for the future under COVID is not pretty.

But the combination of the two companies may augur hold clues to the future of the profession.

Transcript

Here’s the full transcript, only lightly edited:

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