Technology Reading List

January 31, 2018By Jess Halverson BowyerBlog, Disruptive Technology and Innovation

Digital Disruption and Technology Trends

The Coming Wave of Digital Disruption


10 Principles for Winning the Game of Digital Disruption


Where is technology taking the economy?


Bitcoin and Blockchain

Accountants Need to Brace Themselves for AI and Blockchain


The Beginning of Blockchain (Podcast)


Blockchain for Management and Auditors


Automation and the Future of Work

Accounting Pros Optimistic on Automation of Profession


Embracing Technology in Your Organization

How to Run a Tech-Forward Firm (Podcast)

Telecommuting: Good or Bad for Business?

January 31, 2018By Bob Reynolds, CPA, CGMABlog, Disruptive Technology and Innovation

With all the advances in technology, most employers provide for employees to work remotely from home. HR experts often cite this as a benefit of great importance to millennials and younger professionals when evaluating a prospective employer. That said, I often hear many employers and managers in my age bracket cite this practice as detrimental to client service and productivity. We all know there are “pros” and “cons” to everything, so I thought it might be worthwhile to take a closer look at the topic of telecommuting.

According to a February 2017 article in the Harvard Business Review, many of the most-valued benefits for employees were ones that provided flexibility and enhanced work-life balance. Flexibility and work-life balance are of great importance to a large segment of today’s workforce: parents. Many younger workers value flexible hours and work-life balance above salary and health insurance in a potential job.

Offering the ability to work from home and flexible hours are affordable perks for companies that want to offer appealing benefits but can’t afford an expensive benefits package. These benefits typically cost the employer nothing — and often save money by lowering overhead costs. Other commonly cited benefits for employers include the following:

  • Working remotely can increase productivity. Employees do not encounter commuting time, they do not experience the distractions of water cooler gossip, unnecessary impromptu meetings, and the disruptive behaviors of colleagues.
  • Higher employee morale. Studies cite that remote workers are generally happier with their work and often miss less time away from work for sickness or personal reasons.
  • Providing remote work opportunities can lower employee turnover.
  • Companies can save overhead and facilities related costs.
  • Communication is more intentional and purposeful. Remote workers are often more engaged as their interactions with coworkers and colleagues are often better planned, more organized and outcome driven.

So, given all these benefits, why do some employers remain skeptic?

While employers see the benefits of working remotely and providing flexible work schedules, many choose not to provide these benefits because of the management and cultural challenges they can create. Among these challenges are the following:

  • The need for employee personal accountability. The most common employer concern is how to prevent the employee of taking advantage of the benefit.
  • Lack of workplace culture. Culture is important to building effective work groups and aligning employee behavior to advance a company’s mission and vision. Culture-building activities may not be effective without face-to-face interaction.
  • Some studies have shown remote employees are overlooked for promotion and salary increases due to the lack of “visibility” with managers and supervisors.
  • Dependence on technology. The ability to work remotely is totally dependent on the employees’ technology resources. Connectivity and stability of an employees’ internet service provider can adversely impact productivity when working from home.
  • Constantly connected. While true of their colleagues working in the office, remote workers may feel a greater need to “stay connected” resulting in less of a work-life balance due to constantly checking emails and their smart phones.

If working remotely is vital to our ability to attract and retain the best and the brightest, what are we to do as employers? Simply put, we need to set expectations with our remote workers that provides mutual benefits for them and us. Some examples:

  • The requirement to maintain an on-line presence for certain hours during the day.
  • Regularly scheduled communication with supervisors and managers.
  • Days when they are required to be in the office.

I’m certain there are many more. I am interested in hearing from all of you on how your company is balancing the need to provide employees the opportunity to work remotely with the needs of your organization?

Will Bitcoin Continue its Boom or Have its Bubble Burst

January 31, 2018By Phil Jackson, CPABlog, Disruptive Technology and Innovation

Whose inspiration would you follow about the current Bitcoin windfall and frenzy? Do you think “A Change Will Do You Good” as Sheryl Crow’s music lyrics might suggest, or follow the recommendation of The Steve Miller Band to “Take the Money and Run?”  Obviously there is a wide range of opinion based upon your individual viewpoint and the increased awareness regarding virtual currency (sometimes referred to as cryptocurrency).

Why are virtual currencies creating so much excitement? Interestingly, one reason could be a result of Wall Street recently receiving its initial exposure to Bitcoin with the first-ever futures contract going to market and making it more well known.

As a brief overview: virtual currency is a digital asset designed to convert goods and services using cryptography, and it is not backed by any government. The appeal of this medium of exchange varies and continues to be speculative at best.

Some feel it offers a greater degree of security than more typical cybersecurity measures in combatting identity theft and fraud for reasons such as:

  • Elimination of seizure by third parties by having multiple redundant copies of the transactions in a database.
  • Current inability of implementing a virtual currency tax system since third parties cannot intercept the transaction.
  • Reduction of chargebacks as transactions cannot be reversed.

Some skeptics about virtual currency provide the following reasons:

  • With virtual currency being unregulated, market manipulation could occur based on parties who have a large financial interest. This itself could promote fraudulent activity.
  • It’s too difficult to determine its valuation since they lack a benchmark and have no earnings.
  • As an alternative and dominating means of exchange, how do financial institutions exit the currency business?

This is a relatively new frontier and asset in the form of an exchange medium. To optimistic individuals, virtual currency may seem exciting and innovative. Others may dismiss it as a significant risk due to its volatility. Regardless of your perception, it is becoming increasingly more popular among individuals and businesses.

The fact that Congress has introduced a bill known as The CryptoCurrency Tax Fairness Act tends to imply there is some legitimacy of these virtual currencies. Who would have thought virtual currency could now be a part of someone’s holiday wish list this year?

Having a certain amount of professional skepticism along with the openness to accept new beliefs is a necessary balance for us to remain unbiased trusted advisors. As CPAs, we have to begin understanding how to address the accounting, tax and auditing methodologies that need to be considered. What factors will you reflect upon when an individual or client asks your suggestions on virtual currency transactions?

When Networking Isn’t Your Strong Suit

January 24, 2018By Chaleise Fleming, CPA, CFEBlog, Collaboration, Learning and Career Development

One of my goals for 2017 was to take one of the Society’s CPA Center of Excellence® interactive courses. They received a lot of recognition over these courses and I’ve heard a lot about them, especially as a member of INCPAS Emerging Leaders Alliance. If I was going to help promote these courses, I really needed to try one myself.

So, this past December I did just that. I signed up for the Collaboration and Networking online interactive course.

Networking isn’t my strong suit. I feel a lot of CPAs can relate to my struggle, especially younger CPAs recently promoted or working on their advancement in the profession. You are usually promoted because of your excellent technical skills in an area. But as you move up the ranks, your technical skills take a bit of a back seat. You are expected to start networking and developing your business referral contacts. To continue to advance, you are then expected to start to bring in clients and have your own great network to pull from.

This is something most of us do not get real training on. We had years of school to get our degrees in accounting, followed by the studying and stress of taking the CPA exam. In the workplace, we get tons of continued experience in everything we studied beforehand as we work with real projects and clients. Then suddenly, the “networking” part comes in. “Go out, find referral sources and build your book of contacts!”

While I have no issue connecting with current clients and providing them great services – going out and marketing myself; finding new clients and referral sources, that’s a whole different world. It’s also one I openly admit I am not comfortable in. I’ll do it. I go to networking events, but let’s be honest: I would rather be at home with a book and my cat. Why can’t that work to get clients?

So, the Collaboration and Networking course seemed like a good fit for me. Taking this course not only allowed me to finally experience an online interactive course, but also to work on a soft skill I am lacking in. In the process of taking it, I got some valuable ideas for my networking process. I also identified where many of our typical webinar-type CPE courses fail, at least for me, in that it doesn’t require you to really focus or engage with the learning material.

First off, I really did enjoy the setup and flow of the Collaboration and Networking course. It has a great mixture of reading, videos, link clicking and typing. You can’t just read an article and forget about it, or zone out watching a video. There isn’t a quick multiple-choice test to make sure “you are there.” You have to pay attention to the videos and articles in each section, because you are expected to comment on them. This forces you to pay attention to what you read or watch so you can really provide a thoughtful response. The course is also set up in a way that’s easy to follow. It has 10 “levels” that start off with explaining what networking is and why it is important and conclude at the difficulties and networking and how to overcome them.

I personally loved the variety of articles and videos. I enjoyed that the articles pulled from different news sites and viewpoints. This kept the reading fresh. The articles were also short and to the point, making them easy to read and stay focused on. There were quite a few articles I liked enough to save or print out, because I could see easily sharing them with others at my firm, or even with clients.

I also enjoyed the commenting part of the course. After you read an article or watched a video, you had a question to think about and make a comment on. You also get to see previous comments. I enjoyed reading other people’s comments and seeing their thoughts on networking, or what methods and techniques worked for them.

Completing the Collaboration and Networking course qualifies for a waiver of eight hours of CPE. While it didn’t take me eight hours, I did come away feeling excited about networking and with more takeaways than I usually do from an eight-hour course. You don’t have to finish the entire course in a day either, you can do a little bit here and there as you have time.

You have 90 days once you register to complete the course. This was great for me, as I didn’t end up having time to start it until about 15 days after registering. You can also continue to access the videos and articles to the course until your 90 days are up in case there is something you want to re-watch or an article you forgot to save.

Once the course is finished, you get a certificate much like your regular CPE certificates. You also get a neat digital badge that shows you are a networking expert. I did get a lot of great tools and suggestions that I hope to implement in 2018 to up my networking game. The course also helped remind me that networking takes time. You don’t develop your book of referrals overnight. Be yourself and find what works for you.

I encourage all of you to take one of the online interactive courses. You may learn something about your own learning style, like I did. You will also get a taste of these great new type of CPE courses that you’ve been hearing about!

Have you already taken one, or maybe all? I’d love to hear your feedback and impressions.

How to run a remote CPA firm

December 1, 2017By Stephanie Parton, CAE, INCPAS Vice President - CommunicationsArticle, Blog, Innovation, Talent and the Changing Workforce

Jody Grunden, CEO & Co-Founder of Summit CPA Group, shares his advice and secret sauce to making it work.

1. Schedule weekly team meetings with transparency

Weekly team meetings are crucial within a distributed company. Scheduling 30–60 minutes once a week—preferably Monday mornings—with the entire team is a great way to start off everyone’s week. It’s an opportunity for each team member to share a positive and a challenge about the past week, and what they are looking forward to the coming week. Weekly team meetings keep the whole team in the loop and connected and allows management to keep a pulse on what’s really happening. The same goes for weekly one-on-ones with direct reports.

2. Host company retreats

Corporate. Leadership. Retreat. Are you cringing? Do the words “trust fall” and “ropes course” come to mind? Are you having nightmares of a very cold (or very hot because someone is always complaining about the temperature) windowless hotel ballroom? Are you envisioning yourself staring at four walls for eight

hours every day while being talked at by a lifeless presenter clicking through Powerpoint decks? Wake up. It’s 2017. Corporate Retreats should incorporate compelling facilitators like Traci Barrett with Navigate the Journey (photo top right), interactive peer-to-peer learning, fun activities and relaxing downtime—all at a refreshingly unique venue in an unforgettable destination. If you’re not planning at least one of these for the entire team annually, you need to start. Hosting a retreat for your leadership team in Q1 will help set the tone and objectives for the entire year, and you can then build upon those lessons and outcomes with an entire company retreat later in the year.

3. Offer awesome benefits

The traditional benefits of wages, health insurance, and 401Ks are not going to cut it. You need to offer benefits beyond the cookie-cutter givens. If flexibility isn’t included in your benefits package, add it now, and make it number one on the list. The benefits of flexible days, flexible location, and flexible hours are absolutely imperative. Employees can work as needed to accomplish their job and goals in a timely manner. Flexibility allows your employees availability during the day to pick up kids, go to doctor appointments and allows them to work later at night if needed. And going back to the basic benefit of wages, be sure you’re paying your team based on the national average.

4. Implement communication platforms

This perhaps should be number one on this list. It’s vital. The key is to remember that it is not “us vs. them.” Everyone must be on the same playing field—whether you work in Hermosa Beach, California, or Charleston, South Carolina, or in Fort Wayne, Indiana. Everyone must use the same communication platform. If you do have a few employees who do work in the same building, it’s imperative they use the same platforms to communicate as the 40 people spread through the country. No one is “missing” anything by being distributed. Everyone is treated equal. Tools like Sococo video chat and Slack offer employees opportunities to “chat” both formally and informally.

5. Find the right partners

Flexible is the way of the future. Flexible works as long as you have the right communication platforms in place and have access to quality people who are looking for flexible work. Partnering up with companies like FlexJobs,, Yonder, and Virtual Vocations will help with a more positive experience and allow companies to get ahead of the curve and reap the rewards of employing a talented, happy staff. FlexJobs can help eliminate one of the risks for growth: finding talented people. And we all know that sifting through hundreds of resumes is time-consuming. With FlexJobs, you’ll spend less time managing resumes. is an excellent resource that provides expert insight, best practices, and valuable support for organizations exploring or already embracing the distributed model. Virtual Vocations is a great website where employers can post flexible jobs such as telecommuting, freelance, part-time, and flextime jobs. The Yonder podcast features interviews that discuss the advantages and also the challenges of distributed teams.

6. Set a cool company culture

When working with a distributed team, it may take an extra effort to keep people feeling like they are part of the team, and that they are valuable to the overall success of the team. Using the communication channels we noted, it’s important to include a non-work related communication channel. There’s no tangible “water cooler” when you’re distributed, therefore having a “water cooler” channel on Slack where employees can share the photo of their new kitty, or ask for recommendations for dining in Colorado Springs during their next holiday brings that “water cooler” feeling alive. It’s also important for management to share the vision of the company. There’s no better way to get employees excited than to share your vision and how they are all part of and contribute to that vision. Involve everyone on the team in important projects or events. Perhaps someone on the team is really interested in helping with the company retreat (see #2)—let that person liaise directly with your marketing events director. Develop a cool, unique, but meaningful way to recognize special occasions like birthdays and work anniversaries. It’s an easy (and fun) way to acknowledge employees, and goes a long way.

6.5. Have fun!

Yep! You read that correctly. The last tip is to have fun. Life’s too short to not enjoy it. And besides, if your employees are having fun, they are going to work harder and smarter. They are going to stay at the company longer and help promote the awesomeness that sets your company apart from all the rest. Your best advertising is happy employees.

Twisted Fry: The Road to Success

December 1, 2017By Kyle Brintnall, INCPAS Communications InternBlog, Innovation, Talent and the Changing Workforce

INCPAS Scholar and his business partners establish first ever Terre Haute-based food truck business

It’s 11:30 p.m. on a warm Friday night in downtown Terre Haute. Hungry, college students line up by the dozens, each waiting to get their first mouth-watering bite of Twisted Fry’s increasingly-notorious selection of unique french fry creations. Little do these folks know, this pint-sized food truck is saving them from more than just an empty stomach. It’s preventing them from getting in their cars and taking the late-night snack quest into their own, (potentially) intoxicated hands.

This is the mission of Twisted Fry, Terre Haute’s first-ever food truck business,  co-founded by ISU graduates Devyn Mikell (and INCPAS Scholars program graduate), DeSean Prentice, and Jess Harris. Their mission for Twisted Fry is to “prevent drinking and driving by providing late night eaters with delicious food at the perfect place and time.”

Twisted Fry was inspired by two key observations: an immediate need for late night food options and the lack of a food truck service in Terre Haute. While Mikell and his partners knew that a food truck on its own would be fine, they believed it needed to stand for something. After conducting extensive research on the drinking and driving habits of Terre Haute students, Mikell and his team found that 45 percent of respondents admitted they’d driven to get food after a night out drinking. With this key insight, they had both an idea, and a mission. However, nothing could have prepared them for the next step in his plan: dealing with the law.

“The Indiana CPA Society gave me so much exposure to a world that I was honestly unaware of. I saw some of the coolest things about accounting. I see so much value in accounting and I’ve made connections through the Scholars program that will last for the rest of my career.”

The inception of the Twisted Fry food truck was now faced with its first fundamental roadblock: it was not legal to operate food trucks on Terre Haute city streets. Thus began a three month campaign of lobbying and meeting with officials to move the case forward, in the hope of changing the law. Quietly brewing in the midst of the campaign was the development of a business plan, securing of funds, and the sourcing of a trailer to operate. Finally, in July 2016, their wish was granted. The law was changed, and now food trucks were free to roam the streets of Terre Haute. However, it would take another two months and securing a little under $50,000 before they would make their first sale on a city street.

According to Mikell, the challenges of being a student entrepreneur were twofold.

Devyn Mikell. Photo by: Katelyn Mikell Photography

“The obvious answer is time,” he said. “Businesses will take your time when you really don’t want to give it. The not so obvious answer is decision making. There have been so many times where a ‘no’ was the right answer but my desire was to say ‘yes.’”

The temptation to give up the business and go back to normal student life was constant as well.

“Being a student entrepreneur puts you right in the hot seat of all these stressful decisions because everyone expects you to do the ‘safe’ thing, and they’ll praise you for it,” he said. “Safe often sounds like the right path. The challenge is fighting through that fear, doubt, and anxiety and just jumping off the cliff.”

Mikell believes that while it is sometimes scary to take such a big risk, the payoff is more than worth it.

“I’ve learned more in almost a year than I’ve ever learned anywhere else, just by taking a calculated leap of faith,” he shared.

Mikell is a graduate of the Society’s INCPAS Scholars program where he learned about the CPA profession and its impact on business.

“The Indiana CPA Society gave me so much exposure to a world that I was honestly unaware of,” he said. “I saw some of the coolest things about accounting. I see so much value in accounting and I’ve made connections through the Scholars program that will last for the rest of my career.”

Mikell credits his and his business partner’s accounting backgrounds with much of Twisted Fry’s success.

“I could spend hours telling you all how valuable my partner DeSean Prentice, Director of Finance & Legal, is for our business,” Mikell said. “If numbers are king then he is their conqueror for Twisted Fry. I honestly don’t think we’d be near as far if we weren’t obsessed with the numbers as an organization.”

“While they may not be innovations on a massive scale like other big brands, we feel like we’re creating a culture of innovation for our business.”

Analyzing the numbers has allowed them to see where they were spending far too much or maybe not enough. The power to project where Twisted Fry has been heading as a business has been invaluable to them.

“Ninety to ninety-five percent of restaurants fail within their first year,” said Mikell. “I believe this is because they don’t watch their numbers. The accounting knowledge that we apply to the business is what I believe will ultimately lead to our continuous success.”

Twisted Fry’s success has come in phases, notes Mikell. Phase one was simply getting off the ground and surviving the first full year, a milestone nearing completion. Phase two will entail continuing to operate in Terre Haute and expand to a new location.

“When we accomplish this task I will be extremely excited, but much work is to be done until then. However, it’s hard for me to deny that Twisted Fry is a successful venture,” says Mikell.

While the restaurant industry is full of risk, Mikell is still a firm believer that it’s full of rewarding experiences.

“It’s pretty special and I love it,” he says. “I think we have a pretty awesome concept that people will come to know and love as time goes by. We want to be closely connected to college campuses and continue to stand for something as growing business owners. Twisted Fry is always looking for new ways to innovate. We call ourselves the six sigma owners because we are always trying to improve a process within our business,” he jokes. “We’re innovative in that way. While they may not be innovations on a massive scale like other big brands, we feel like we’re creating a culture of innovation for our business.”

Ultimately, Mikell wants Twisted Fry to innovate for the customer. By creating these habits within the culture of Twisted Fry, he believes the company is being set up to go pretty far. All in all, the Twisted Fry food truck has been able to pave its own road to success, and shows no signs of slowing down.

How to fight the war for talent

November 28, 2017By Jess Halverson BowyerBlog, Innovation, Talent and the Changing Workforce, Talent Management and People

How to fight the war for talent

 Accounting Today editor-in-chief Daniel Hood recently published the well-stated opinion piece “Stop Fighting the War on Talent.”

He wrote on how the leaders of accounting firms must give their younger employees what they want – more feedback, more mentoring, more manager involvement, more flexibility and more empowerment. He said this will pay off dividends in better staff and a stronger firm.

I couldn’t agree more with all those points

Further, it’s true that most of the Baby Boomer leaders of today’s accounting firms didn’t get that type of training themselves. It just wasn’t “a thing” when they came up, so subsequently it “isn’t fair” that it’s wanted or expected by Millennials and Generation Z. But as Hood says, just because it isn’t fair doesn’t mean they shouldn’t do it.

It’s easy to see today’s world is not the same one many firm partners trained in. With globalization, automation and the overload of choices and information business owners face today, accounting is moving from a transactional profession to the more amorphous world of consulting and trusted business advising. This requires a different firm culture and a different skill set at a younger age. We’re talking more strategy, analysis and leadership, and less validation, data management and task-oriented processes.

Frankly, if you don’t get on board now — you will have no firm to worry about in the future.

But we recognize this is a mighty shift. If you are one of the leaders of these firms – where do you start?

Take advice from the sage Robert Matthew Van Winkle (aka Vanilla Ice): Stop, collaborate and listen. Then critique. Evaluate and forgive yourself along the way.


Make the effort to schedule a time on your calendar to meet with your staff.


Then this is hard part … really listen to what they have to say. Often, this young generation will tell you exactly what they need to succeed. You just need to ask! Don’t make assumptions based on only your experience. Be open to trying something a different way.


Think about how your staff is currently trained. Do they know what it takes to be partner someday? Do they know how to properly run a client meeting? Do they know what skills they need to advance? Has anyone ever written this down for them? Often, new employees don’t know what you want them to do when you say, “you need to improve your leadership skills.”

Instead of just telling, show them what you mean. Define the types of leadership skills you want to see by talking about the actions a good leader takes. This can apply to any type of hard-to-define soft skill like communicating, running a meeting or bringing in new clients. If you don’t know how to define these skills, look for a resource that can help you do it.

True collaboration takes a willingness to admit you don’t have all of the answers – a scary proposition for some leaders. Have you ever noticed that if you share a little more about yourself, the person you’re talking to is more willing to share something as well? That dynamic also works when trying to solve a problem. If you’re implementing a culture change at your firm, it will take everyone working together. Don’t be afraid to ask your staff how they think this change is going. Reach out to other CPA peers and ask them what changes they are making in their firms. And if you receive negative feedback, treat it as useful input or data and try not to take it personally. With practice, it’s possible!


When I say “critique,” I picture an art school roundtable in my head – where you take a piece of work and look at it objectively, offering feedback because you want this person to be successful. This is different from being critical and speaking negatively to someone because you want them to know they are wrong. The more successful your employees are, the more successful you are. Critiquing is primarily about showing a way to a new solution. Bonus — your younger employees asking for feedback are begging for this type of input. Want to create valuable employees who will stick around? Make them feel a part of something by truly contributing to their career development with your years of expertise.


This is going to be hard but valuable. It takes time. When you participate in a cycle of collaboration and critique, you’ll know what’s working and what isn’t. Change the things that aren’t working and keep the things that are. No one is saying you have to get it perfect the first time.


Change is one of the hardest thing we can do. And we don’t want you to go it alone. That’s why we’ve developed the CPA Excellence Quick Start Guide with practical charts, templates and examples to keep your talented staff. Download a sample of our CPA core competency (soft skill) descriptors, which lay out exactly what it means to be a good critical thinker at different stages in your career. Six other core competencies are included in the book.

Give them something to aspire to – excellence.

Competency-based learning is no joke

November 7, 2017By Jennifer Briggs, CAEBlog, Learning and Career Development

Are you learning what you need to know in every CPE class you take? Maybe, but don’t you learn in ways outside of CPE courses as well?

In Indiana, through the efforts of our Board of Accountancy, the Indiana CPA Society and the CPA Center of Excellence®, we are addressing the idea of options. Specifically, related to competency-based (or outcomes-based) education.

What does that mean? What you learn vs. CPE hours. We are looking at ways to provide options for maintaining your skills. Hear more in this recent “Improv Is No Joke” podcast from author and frequent INCPAS speaker Peter Margaritis, CPA.

CPAs Who Innovate: What box?

October 11, 2017By Stephanie Parton, CAE, INCPAS Vice President - CommunicationsArticle, Blog, Changing Role of the CPA, Innovation, Talent and the Changing Workforce, The Changing Role of the CPA

Meet the innovative virtual CFO firm that’s disrupting the profession

Summit CPA Group was founded in 2002 as a firm that wanted to change the way people think about accounting. Co-founders Jody Grunden, CPA, and Adam Hale, CPA, didn’t want to just do accounting work. They wanted to make a difference in business owners’ lives.

“Traditional accountants generally focus on the past way too much in my opinion,” Grunden said. “We wanted to be more of an influencer for those clients. We wanted to talk strategy. We wanted to be proactive instead of being reactive. So, we turned a traditional financial statement review meeting into a strategic meeting focusing on forecasting and the metrics that are used to build it. Only about a quarter of the meeting talks about the past. The remainder of the meeting is strategic in nature focusing on the past influencing the future.”

Summit CPA Group wanted to educate business owners and teach them to build and manage a profitable business. This “want” eventually evolved into what is now their primary service and cornerstone of their company. In 2004, they named the offering “Virtual CFO Services.” “We help small business owners make informed decisions that generally translate to increased profits and cash accumulation. That is why I think we’ve had such high retention with our clients,” Grunden said. “For me, that has been the most rewarding part of being a business owner—helping other business owners.”

Summit CPA Group prides themselves on offering completely different CPA services. They’re not competing against other CPA firms in the traditional sense. They are competing against a position of value. They take over the role of the CFO.

“We didn’t want to deliver a product that everyone else delivered—that’s boring. We wanted to give them a service that offered a greater value than what they could get even by adding an employee to their team. It came from the idea that we wanted to do something different, give them more value, and then it developed from there.

“What we’re doing is providing a similar service and ‘feeling’ as what’s innate at the big companies. That’s something that most small businesses have never had the chance to experience. Most small business owners feel isolated because they have no one to talk to. As a Virtual CFO, we can talk to them as a peer and give them a straight, candid answer. That’s what they really want. They want confirmation. They want to be able to bounce ideas off a peer. The entire experience is pretty eye opening for most of them.”

Like most great innovators, Grunden and Hale wanted to find a solution to a problem and make life better for themselves and those around them. Grunden says the idea for Virtual CFO Services was a selfish thing at first. He was his kids’ hockey coach and had to be present at all of the events. Hockey season, as you may know, falls at the exact time as the traditional tax season.

“We didn’t want to deliver a product that everyone else delivered—that’s boring. We wanted to give them a service that offered a greater value than what they could get even by adding an employee to their team. It came from the idea that we wanted to do something different, give them more value, and then it developed from there.

“I knew I was taking weeks off at a time to go on a hockey trip and it wasn’t fair to the other employees,” Grunden said. “It wasn’t fair to ask my team to work hard while I was traveling around the U.S. or Canada for a hockey tournament. It didn’t feel right to me.” Grunden found a solution to his problem by looking for ways to change the way typical CPA firms do business. His answer was taking a traditional tax client that they would meet with once a year and looking at how they could really help their client, and in the same process help Summit CPA Group and the culture the duo wanted for their firm.

The process developed into taking that annual tax client and turning them into a monthly client. Then when it came time for their tax return, it didn’t take as much time. That approach was so successful that clients started asking for weekly meetings. Clients were so excited about the level of service they were receiving from Summit that they started referring clients to them.

Summit CPA Group is headquartered in Fort Wayne, but their team is distributed and works primarily from home. Their virtual office consists of 40 employees, all but four whom work remotely. Employees are located in 10 states and their client base is represented in over 40 cities across the country.

Summit CPA Group initially performed their Virtual CFO Services communicating over the phone and during in-person meetings. It wasn’t until 2009 that they started transitioning the service to 100 percent remote. In order to give the client the feeling that they are part of their team, they utilize the latest technology through video chat and screen sharing with tools like Sococo and GoTo Meeting. This is Summit CPA Group’s primary means of communication with clients. Because they can service clients anywhere, they have expanded their service across the United States.

Hiring at Summit CPA Group is all done virtually as well. It’s pretty eye-opening for new hires. Grunden says 99 percent of the new hires have never worked virtually before. So, employee onboarding is an extremely important process and key to Summit’s high employee retention. New hires receive a “care package” in the mail which includes a laptop, big screen TV (four monitors), headsets and a technology stipend which they can use for various home office needs throughout the year.

The onboarding process includes being buddied up with a seasoned employee. For example, Tom is a new hire who has been with the firm for 90 days. He is buddied up with Angie who is the senior team member on the account. They hang out in a virtual room all day with video and headsets on. They can have casual conversations as they work through the day.

When nearly all of your employees work virtually, staying on top of technology is imperative. “You have to be adaptive and make changes quickly. That has never been an issue with me, really, in anything I do,” Grunden said, “which is atypical for accountants.”

Grunden and Hale are constantly looking for the newest and greatest thing. Five years ago, Hale was looking for a second revenue stream that could take advantage of the distributed model. He determined that 401K audits could be that avenue. He did his due diligence and sought out an expert in the field. They were able to bring in Kim Moore to run this new opportunity. Since 2012, Moore and her team have been able to grow the 401K audit department from an experiment to currently performing in excess of 120 audits a year. They were able to take full advantage of the distributed model working virtually with their clients.

“We’re always looking for better ways of doing things,” Grunden said. “We’re never stuck on one way being the only way. It comes from identifying a weakness in an area and coming up with a solution to make it better.

“We take what other people are doing well and make it better. We view the world in a different way, always thinking outside of the box. Or, better yet, what box? That’s the mindset that we built the company.”

Summit CPA Group was recognized for their innovative accomplishments in 2017 with the inaugural Indiana CPA Society Innovation Award.

The world as your workplace

October 4, 2017By Jessica HillBlog, Future of Work and Change Management, Innovation, Talent Management and People

Mobility policies, or being able to work outside of the office, are becoming more common as we embrace and become more comfortable with internet-based technology. With a mobility policy, you can work anywhere as long as you have two things: a laptop and internet access. I’ve been with a firm for a little over a year that strongly embraces mobility, and I have certainly taken advantage of the policy—either working from home or at Starbucks when I’m not expected to be in the office or at a client site.

At a recent college career fair, people loved hearing about the luxury of working from home; however, their questions revealed their skepticism. Below I’ve included the most common questions I’ve received about work mobility:

  1. How are you held accountable?

This is almost always the first question out of the gate. Accountability is a valid concern when you have the ability to work somewhere with no direct supervision. However, people tend to miss the fact there is still supervision—even though it might not equate to someone physically looking over your shoulder. If you’re working from a laptop distributed by your employer, then most likely there are tools in place to monitor your online activity. No matter where I’m working, my coworkers can see when I’m online. When I step away, my computer automatically times out after fifteen minutes to show that I’m inactive.

Communication is important no matter where you work, but it’s extremely important when you’re away from the office. Always check in with your coworkers to let them know how you’re progressing and if you have any questions. This makes your work more transparent and ensures your team that you’re working—just be sure to be honest!

  1. How do you stay focused?

Staying focused is the most difficult aspect of working mobile, but the solution varies from person to person. I need to have a designated office space to work efficiently. An office with a desk, a comfortable chair, and very minimal distractions is the best work environment for me. I am not fond of working in bustling coffee shops or restaurants because I think they’re too distracting. If I do find myself getting distracted no matter where I’m working, headphones and some music always helps.

  1. How do you determine when you work from the office?

More often than not, this will be an easy decision. If you need to access office equipment, check your mail, or work extensively with a coworker, then you should definitely work from the office. Some people prefer working in the office because they can’t focus at home, or they enjoy seeing other people. If you have a terrible commute, car problems, or you’re feeling under the weather, then working from home is a better option.

  1. Does a mobility policy help with work-life balance?

Yes and no. There are many ways working mobile can help with work-life balance. If you have a long commute and can work from home for part of the week, you can work at the times you would have been driving. Parents can work from home whenever they need to be there for a sick child. A parent can work at a coffee shop close to his toddler’s daycare for easier pick-up. However, for some people being able to work anywhere brings the feeling that you are obligated to work wherever you are. It is still important from a work-life balance perspective to have a clear understanding of your work expectations and your personal limits. If working from home makes it impossible to turn off the laptop and relax after working hours, then working from the office would be best.

There are many gains from a mobile working environment. However, the most important advice I give when working away from the office is to maintain a solid line of communication with your coworkers. While you may not be working in the office, you are still expected to perform, and perform well.

Does your employer have a mobility policy? What advice would you give on the matter? Please share in the comments below!