Managing a successful business requires us to always be in a state of change because those that fall behind will have difficulty catching up – if they ever manage to catch up at all. Just look at what happened to Blockbuster. Or Kodak. Or MySpace. Change is inevitable and, in an age of disruption, businesses that adapt will be the ones that survive. Today, the choice has literally become “innovate or die.” It’s time to confront the elephant in the room. Yes it makes us uncomfortable, but the biggest mistake we can make is to pretend that somehow it won’t impact us. Today’s metaphorical “elephant,” of course, is the concept of disruption – or disruptive innovation, to be more specific. It’s the idea that certain products, solutions or technology introduced into the industry are so impactful and popular that they overtake current market leaders and completely transform the way we do business.
the future is now.
Today, among other considerations, we’re being challenged to adopt new technology to run our businesses and interact with customers. We’re being asked to invest in Bitcoin as the digital currency of tomorrow, and (if we do business outside of our home state – including any online advertising), we’re required to adhere to new nexus regulations. In the accounting industry, we’re hearing that more and more of our clients want to partner with true business consultants – and that soon, technological advances will one day make traditional tax and audit services obsolete. So we’re working to keep pace with industry disruption to continue bringing you the best solutions and client care possible. In the next five years, we expect to see technology, such as artificial intelligence and blockchain, significantly impact our people, clients and firm as a whole. We also anticipate an increased focus on client service and relationships, which we fully endorse, as it continues to be a cornerstone of our firm’s strategic business plan. One way we’re staying ahead of disruption is by investing in dynamic audit solution (DAS). A project of the American Institute of Certified Public Accountants (AICPA) and its subsidiary, CPA.com, DAS will incorporate new technologies and philosophies into the audit process. This software is being 4 | 5