Intuit Announces 2016 Global Firm of the Future Winner
October 24 2016 - 1:00PM
Business Wire
Latest Firm of the Future Survey Highlights
Increased Adoption of the Cloud and Importance of Professional
Certifications
The world has spoken and the votes are in. From the Accountant
Mainstage at the third annual QuickBooks Connect, Intuit Inc.
(Nasdaq:INTU) today crowned 24hr Bookkeeper the winner of the 2016
Global Firm of the Future contest, awarding the firm a $15,000 USD
cash prize and year-long bragging rights as the global firm that
best emulates the Firm of the Future pillars. The remaining
finalists Hemingway Bailey of the United Kingdom, Moore Details
Bookkeeping of Canada and New Wave Business Solutions of Australia
were also announced as finalists and respective country winners,
with each firm receiving a cash prize of $5,000 USD.
“We were incredibly humbled by the sheer number of candidates
and the caliber of the four finalists in this year’s competition,”
said Rich Preece, vice president of Intuit’s Accountant Segment,
Small Business Group. “Facing the future is not always easy, but we
hope that by recognizing 24hr Bookkeeper as the global winner
alongside the three finalists, we help inspire the others to catch
up so they can pursue their best future possible.”
As an evolution of last year’s national Firm of the Future
contest, Intuit set off on a journey to find the most future-ready
firms across the globe in Australia, Canada, the United Kingdom and
United States, receiving entries from solo practitioners to large
firms. Four months, hundreds of firms and thousands of votes later,
one grand prize winner and three finalists emerged as the cream of
the crop based on their commitment to embrace online technologies
and grow their firms in order to better meet the needs of their
small business clients.
- 24hr Bookkeeper of Hibbing, Minn.
United States: Leveraging their robust automated system of apps and
processes, 24hr Bookkeeper offers fixed-fee pricing to help clients
comprehend the value of their work and position themselves as
integral team members who participate in their clients’ success.
The firm also hosts monthly webinars and is working on a digital
campaign to educate and update clients on tools to grow their
businesses.
- Hemingway Bailey of Beverley, United
Kingdom: From offering fixed prices to using a suite of time-saving
apps together with QuickBooks Online, Hemingway Bailey has the
motto that technology “is to be welcomed, not feared.” They have
taken this mentality onto social media as well, cultivating a fun
and interactive profile that stands out from more traditional
accountancy practices.
- Moore Details Bookkeeping of Quinte
West, Ontario, Canada: Filing cabinets are ancient relics for Moore
Details Bookkeeping. As a 100 percent virtual and paperless firm
operating exclusively on QuickBooks Online, they have embraced
third party applications to help them save time and scale their
practice.
- New Wave Business Solutions of
Broadbeach, Queensland, Australia: As a 100 percent cloud-based
firm, New Wave utilizes the cloud in every way possible, from
document management to CRM. For 2017, the firm plans to develop
original content for their website, including blog posts and small
business tips to share on social media.
And the Survey says…
For further insights into how accounting firms are preparing for
their future work climate, Intuit commissioned a second wave study
of more than 1,600 accounting professionals. The study is an
extension of a similar 2015 survey, and investigated just how ready
accounting firms are for the future, and gained insights into where
accounting professionals think the industry is headed from a
technology and services perspective. When comparing the 2015 and
2016 survey results, accounting professionals continue to agree on
the importance of cloud-based tools as well as the value of
progressive online marketing strategies to grow their business.
While last year’s results highlighted fixed and value pricing as a
priority for firms, the 2016 findings show that accounting
professionals are increasingly taking steps to further boost the
value of their services by investing in their own professional
development through trainings and professional certifications.
The 2016 Survey highlights include:
- Get Online:
- In the past 12 months, 58 percent of
firms have expanded the percentage of clients using online
accounting software.
- Additionally, 68 percent say the cloud
allows firms to respond to clients’ needs faster and provides
greater flexibility of where/when work gets done.
- The most widely-used online services
include online accounting software at 85 percent, followed by
online banking at 73 percent, and online storage and sharing at 61
percent.
- Be a Trusted Advisor:
- 44 percent of accounting professionals
are currently either implementing or considering fixed rate pricing
for all services.
- Additionally, 47 percent are taking
training to offer new services to clients.
- 50 percent are currently working
towards professional certifications and 25 percent plan to do so in
the next 12 months.
- Grow Your Practice:
- Nearly 80 percent of respondents use a
mobile device, either a tablet or mobile phone, for business
purposes and have an average of three accounting related apps on
them.
- 59 percent view online marketing as
important to their firm’s success and 61 percent currently have a
business website.
To join the conversation, share on Facebook and Twitter using
#QBFirmOfTheFuture.
About Intuit Inc.
Intuit Inc. creates business and financial management solutions
that simplify the business of life for small businesses, consumers
and accounting professionals.
Its flagship products and services
include QuickBooks® and TurboTax®, which make it
easier to manage small businesses and tax preparation and
filing. Mint provides a fresh, easy and intelligent way
for people to manage their money, while Intuit's
ProConnect brand portfolio includes ProConnect
Online, ProSeries® and Lacerte®, the company's leading
tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.7 billion in its
fiscal year 2016. The company has approximately 7,900 employees
with major offices in the United States, Canada,
the United Kingdom, India, Australia and other
locations. More information can be found
at www.intuit.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161024005351/en/
Intuit Inc.Danielle Ferris,
650-944-2391danielle_ferris@intuit.comorAccess Emanate
CommunicationsVanessa Piccinini,
415-844-6252vpiccinini@access-emanate.com
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