CPA Practice Advisor - 9

FROM THE TRENCHES
OK, those all seem too far fetched
to be practical. However, I'm going to
check this list ten years from now.
In the meantime, how about some
short-term predictions?

SO, WHAT SHOULD WE
EXPECT IN THIS COMING
YEAR?

to use models to be high and wide
in our vision and provide insight
that is deep and narrow on specific
products and services that may
work for your clients. While the
COVID-19 pandemic changed my
vision of what 2020 would hold, an
unexpected benefit was the extra
time that minimal travel provided.
Being on the ground and not in an
airplane enabled learning and relearning about products in-depth,
unlike anything in the last twenty
years. When my consulting practice
was dominantly about creating SaaS
products that many of you use today,
we were creating the future. I believe
I can see the future of computing in
accounting. And together, we will
create this " new normal. "
As noted in previous columns,
" the best way to predict the future
is to create it. " Alan Kay, the former
chief scientist of Atari, is credited
with this wording found in the
Facebook post incorrectly attributed
to Abraham Lincoln. This saying may
have originated with Dennis Gabor,
the physicist who won the 1971 Nobel
Prize for inventing holography. " The
future cannot be predicted, but
futures can be invented, " he wrote
in a 1963 book. " It was man's ability
to invent, which has made human
society what it is. "

SO, WHAT SHOULD
WE EXPECT IN THIS
DECADE?
At this time of year, we usually like
to make predictions for the next
year, but I'd like to have you consider
a longer view. Many business strategists suggest five-year plans help you
envision your future. Unfortunately,
in 2021 many of you will be drawn
into short-term cash flow and business management issues with many
of your clients. I'd encourage you to
resolve those issues with a deep and
narrow focus and return to a high
and wide planning vision. Returning to my 1970's 3PHD model as the
framework, consider the following
predictions for the next ten years.
People
■ Will rediscover the value of education over training.
■ Will discover the mental health
balance of work/life integration.
■ Will look for ways of genuine
connection.
■ Will have the first diseases repaired
by CRISPR gene editing.
Procedures
■ Will become interactive between
professional firms and clients.
■ Will be able to be written automatically and recorded in workflows.
■ Will become more automated with
Robotic Process Automation.

■ Will be signed off with automation
provided by secure digital identities.
Data
■ Will become more understandable
with visualization and vocalization.
■ Will explode in volume because of
the Internet of Things.
■ Will swing back from being the
property of companies to individual
ownership.
■ Will become more accessible, but
secure, while being centralized.
Programs
■ Will become more integrated with
secure digital plumbing between
them.
■ Will become more " buggy " and then
improve because of new diagnostic
techniques.
■ Will be discovered and recommended automatically based on
your needs.
■ Will become more self-writing being
taught by users with low code and
no code.
Hardware
■ Will become less proprietary.
■ Will become more secure based on
individual demands.
■ Will communicate across the entire
planet, blocked in some cases by
governments.
■ Will support more intelligence and
interaction in vision and voice.

DECEMBER 2020 ■

First, it would be ideal to have a
COVID-19 vaccine that works and
is safe. Second, it would be helpful
to have facts for individuals and
businesses to use for decisions.
Third, it would be good to have
minimal regulatory changes. That
said, consider the following.
People
■ Will creatively solve for the " new
normal. "
■ Will start many new businesses.
Procedures
■ Will need to be checked to minimize
fraud.
■ Will need to be revised for security
and privacy laws.
Data
■ Will continue to be more centralized
but watch your security.
■ Will become more connected and
reportable.
Programs
■ Will become faster, smarter, and
easier to use.
■ Will solve problems you haven't
considered.
Hardware
■ Will get faster communications with
5G, internet speeds, and Wi-Fi 6E.
■ Will become less reliable.
And how do we solve client
problems? We'll continue to look
at long-term and short-term issues
recommending strategies that we
know to work. Further, you'll see that
we'll provide a structure or cookbook
on how to solve the problems, discuss
the right ingredients, and teach you
how to pick the best and freshest
solutions in the market. The best
technology solutions for you and your
clients are yet to come. ■

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