VIRTUAL CONFERENCE SERIES: SUBSCRIBER INFO Breaking Technologies: what's out there and what do you do about it? Cloud computing is one of the biggest advances in technology in a long time - and below I share a short explanation of how I see it fitting into the future strategies of many CPA firms. While we may be in a recession, it doesn't mean that we can just stop and ignore technology or stick with the status quo. Making the right, calculated plans can mean incredible savings in the long run and leading firms need to be addressing these options now. I'll share more about cloud computing and other important technological considerations for high-level strategic planning at our upcoming webcast "IT Strategy and Vision: What Partners Need to Know". by Gary Boomer, Boomer Consulting I define cloud computing as "Internet-based computing, where resources are shared. Software and data are provided to computers on demand, much like the electricity grid." The majority of computing power in an accounting firm is idle just waiting for that peak demand. In the past, this model worked, but today firms must do more with less and technology is the accelerator. What is important is that many of the tools developed from social media are now being used by businesses to provide ubiquitous computing. Servers and desktop computers can be virtualized to share and leverage their computing power. In the new model, tools are available to allow you to work when not connected to the Internet. Wikipedia defines cloud computing as "a new supplement, consumption and delivery model for IT services based upon the Internet, and it typically involves the provision of dynamically scalable and often virtualized resources as a service over the Internet." The term "cloud" is used as a metaphor for the Internet. Typical cloud computing providers deliver business applications online which are accessed from another web service or software like a web browser, while the data and software are stored upon servers located in a secure environment. 5 Things to Consider when Integrating Cloud Computing into Your IT Strategy Cloud computing is now a matter of timing. It has already happened in many industries and will occur in accounting sooner rather than later. In fact, many firms are already in a hybrid system, with part of their operations already in the cloud. Many firms already utilize hosted document management systems. These hosted solutions are better equipped and staffed to manage email than the internal staff in most firms. It is more economical and allows resources to focus on processes and improved workflow. The status of your current infrastructure will be a factor in the timing of your move to cloud computing. Do your servers need replacement? Are you utilizing server virtualization? Is your bandwidth adequate and are your switches up to date? Do you have the right IT Leader? In the future, IT professionals should focus more on processes, workflow and client service than on maintenance of the infrastructure. Innovation and new sources of revenue should be top priorities. This requires a different set of skills of which communications, project management and business savvy are extremely important. Professional development opportunities for IT professionals will need to change in order to reflect this changing role. Vendors are business partners. Make sure you utilize vendors that will communicate and cooperate with your firm and other vendors. Remember that communication requires effort from both sides and someone with the responsibility as well as authority should be designated to represent the firm. Success requires planning and collaboration. It is not good enough to simply be up-to-date; you must be up-to-the-future and leverage technology. Don't be afraid to seek counsel and advice from leading peers. There are many excellent firms that "get it" are positioning themselves with a strategic advantage. They have been balancing partner income and investment in technology and will be able to attract and sustain both organic and merged growth. A leader in accounting firm management and technology, Gary Boomeris the CEO of Boomer Consulting and a founding member of The Advisory Board. Submit A Question for a Call Select Virtual Conference Stop Boring Your Audience! Webcast Enter Your Name Enter Your Question for the Virtual Conference To verify your question, please type the verification number in the field: Your Verification Number: 515 Type in Your Verification Number:

The Advisory Board Virtual Conference Series REGISTRATION HOW IT WORKS PRICING SCHEDULE Receive Program Updates via E-mail Email Address: