IRIS World 2018 - Keynote - Thrive in the Digital Economy
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This document outlines the agenda for a conference on thriving in the digital economy. It will include presentations on IRIS's product strategy, embracing future technologies, the future of tax and technology, what's new in IRIS, a countdown to MTD day, and an industry panel on thoughts about the future digital economy. There will also be exhibition areas and breaks for networking.
IRIS World 2018 - Keynote - Thrive in the Digital Economy
- 2. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive MORNING BREAK & EXHIBITION WHAT CAN YOU EXPECT FROM TODAY?
- 3. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology LUNCH & EXHIBITION WHAT CAN YOU EXPECT FROM TODAY?
- 4. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology Thriving in the Digital Economy – What’s new in IRIS AFTERNOON TEA & EXHIBITION WHAT CAN YOU EXPECT FROM TODAY?
- 5. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology Thriving in the Digital Economy – What’s new in IRIS Countdown to MTD-day Industry Panel – Thoughts on the future of the digital economy WHAT CAN YOU EXPECT FROM TODAY?
- 7. THANK YOU TO OUR SPONSORS support agency
- 8. IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology Thriving in the Digital Economy – What’s new in IRIS Countdown to MTD-day Industry Panel – Thoughts on the future of the digital economy WHAT CAN YOU EXPECT FROM TODAY? Thriving in the Digital Economy
- 9. We exist to SIMPLIFY the lives of accountants by making them more EFFECTIVE and PRODUCTIVE
- 10. #1 COMPLIANCE HMRC Companies House ACCA ICAEW
- 11. Blueprint to thrive in the digital economy
- 14. Earnie
- 15. 166 customers joined 20 year club 21,000+ Accountancy practices 6m+ Largest 3rd party filer with the Government 550+ accountancy employees 50+ dedicated support The Sunday Times Top Track 250 83 of the Top 100 UK Accountancy practices 1,100+ new customers joined IRIS in last 12 months MTD #1 1st MTD submission
- 16. 51%NOMINEES IRIS CUSTOMERS "The 2018 Accounting Excellence Awards saw an unprecedented volume and quality of entries. To see 16 IRIS customers shortlisted across 10 categories is real achievement and a great reflection on the IRIS user base. It's also as testament to IRIS's capabilities as a technology partner in supporting Excellence in Practice" Tom Herbert, Editor - AccountingWEB 78%WINNERS IRIS CUSTOMERS
- 17. YEAR IN R VIEW
- 18. CUSTOMER EXCELLENCE LOVE IRIS ACCELERATE GROWTH INDUSTRY PIONEER FAST-FORWARD BUSINESS Improving UI & UX Snap OpenLearning User Groups
- 19. YEAR IN PR VIEW
- 21. 0.6% CAGR 2014-17 5.2% CAGR 2011-14 5.6% CAGR 2014-17 Sources: AccountancyAge IRIS FRC Is the volume of legislative change impacting your growth? 3.6% CAGR 2011-14 5.1% CAGR 2011-14 3.1% CAGR 2014-17 Top-tier (50+ FTEs) 454 Mid-tier (10-49 FTEs) 16,000 Lower-tier (0-9 FTEs) 55,000
- 23. Where do you sit on the Technology Adoption Curve? Progressive firms 50% of Accountancy market are resistant to change Change aware firms Status quo firms “Straight away” “Wait for others to try first” “Wait until first update released” “Wait until replacement or mandate”
- 26. Industry & Commerce 5.1% 5.1% Retired 2.4% 1.7% Public Sector 4.1% 3.9% Other 4.6% 1.0% CAGR 2007-14 CAGR 2014-16 How do you attract the best talent? In Practice 1.0% 1.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sources: FRC ICAEW ACCA Qualified Accountants, by Sector Type, 2007-16 (‘000) 93 102 190 287 1% CAGR
- 28. Carving out your niche 18 Average # service lines by Top 50 >80% Consulting Mergers & Acquisition >60% Human Capital People & Organisation >90% Assurance & Taxation Payroll Small Business Accounting <40% Risk & Transformation Technology & Infrastructure Cyber Security <30% Legal Governance <10% Sustainability & Climate Change Crypto-currency Sources: IRIS
- 30. Practice as a Business Compliance & Client-centric High-street to Digital Highway
- 31. HERITAGE STRAIGHT- FORWARD LOVE IRIS BRAVE AND ACCOUNTABLE GROWTH
- 32. HERITAGE
- 33. TIME CUSTOMERS
- 35. TIME CUSTOMERS
- 37. Team of certified GDPR experts Teamed up with Support & advice Processes & templates Readiness assessments Compliance dashboard GDPR Advisor support agency
- 39. #1 FOR MAKING TAX DIGITAL Leading MTD Beta participant Pre-population of key tax data Quarterly filing / Periodic submissions IRIS Digital Tax Hub End of year submissions 1st vendor for MTD 1st MTD submission Free MTD roadshows
- 40. Snap
- 42. Snap
- 44. VAT Filer Connects to HMRC for previous submissions & obligations Import data via CSV & clipboard Finalise & submit to HMRC Liabilities & Payments on screen Fully integrated with OpenSpace & Practice Management
- 45. VAT FilerSnap
- 46. STRAIGHTFORWARD
- 47. 1:45 minutes 2:31 minutes Average Speed of Answer September 2017 FY18 target <3mins Average Speed of Answer September 2018 FY19 target <2mins 82% First Call Resolution CUSTOMER SUPPORT
- 48. 85% of UK population use a smartphone 53% use smartphone whilst walking 79% check their smartphone in the hour before going to sleep Sources: Deloitte 2017 Mobile Consumer Survey
- 49. The ‘hub’ for all client interactions Customisable Brandable Notifications Messaging Key client data Connected Apps Powerful Micro-sites
- 52. Late/No payments Credit control Chasing payment 37% 44% 71% Sources: IRIS survey Payment Challenges
- 54. Instant client payments IRIS Fees integration Automated client reminders Instant sign-up Collect payments from major cards No setup fee, no hidden charges
- 55. LOVE IRIS
- 57. Free eLearning Learn at your own pace Over 190 CPD accredited courses Practice reports OpenLearning
- 58. Tell us your ideas! Vote on any idea Get updates on ideas HUNDREDS OF IDEAS ALREADY LOGGED! Browse to iris.co.uk/ideas Ideas Portal
- 60. Dedicated team focused on your success Imparting 40 years of experience Enabling you to maximise the value of IRIS
- 61. AWARD CATEGORIES Small Firm Medium Firm Large Firm Client Excellence Advisory Fastest Growing Firm Best Use of Technology Marketing Innovation Bureau/Outsource Service Accountant of the Year Partner of the Year Practice Manager of the Year Graduate/Trainee of the Year
- 62. GROWTH
- 63. Sources: IRIS survey Expansion of value-added services in the next 5 years? 2022 48% Value add “How many hours do you spend / expect to spend on the following activities?” 2017 32% Value add Value-added services Core compliance
- 65. Advisory service on practice transformation 10 focus areas to become a digital firm Focus on strategies for each area Workshops & consultancy Delivered by IRIS and Farnell Clarke Practice Advisory
- 66. Cloud-based, powered by MS Power BI Comprehensive practice insight Detailed interactive dashboards Filter and drilldown into the data Analysis of performance and whitespace Fully integrated with IRIS Accountancy Suite
- 67. Teamed up with 100% of records reviewed All UK audit rules embedded AI learning rules Identification of risk Analysis of trends
- 69. Practice as a Business Compliance & Client-centric High-street to Digital Highway
- 71. #1 COMPLIANCE
- 74. IRIS next phase of evolution…
- 75. IRIS product strategy and how IRIS will help your practice thrive
- 76. FARM TO FORK
- 77. Making Tax Digital Dawn of a New Accountancy Era
- 78. Journey to the practice of tomorrow ORGANIC New user experience Modern features Ubiquitous access Long development cycle Desktop still preferred Migration to new apps EVOLVE Co-exist with on- premises Unlock new features and capabilities User decides pace of change Roadmap focus on future practice Embrace existing on- premise Hard to do BOLT-ON Extended scope of practice software Ubiquitous access Core apps remain on- premises Compromises Familiar desktop application available remotely Additional hosting costs and complexity Same on-premise apps HOSTED
- 79. Welcome to Project Darwin EVOLVE Co-exist with on- premises Unlock new features and capabilities User decides pace of change Roadmap focus on future practice Embrace existing on- premise Hard to do
- 80. Project Darwin Note: This presentation outlines our product direction and is not a commitment to deliver products or services. Any dates and actual deliverables are subject to change.
- 81. Practice Database Access Control Data sync IRIS Accountancy Suite Practice Setup User Management Security & Reporting Project Darwin Note: This presentation outlines our product direction and is not a commitment to deliver products or services. Any dates and actual deliverables are subject to change.
- 82. Practice Database Access Control Data sync IRIS Accountancy Suite Practice Setup User Management Security & Reporting Project Darwin Note: This presentation outlines our product direction and is not a commitment to deliver products or services. Any dates and actual deliverables are subject to change.
- 83. Access Control Onboarding Practice Database Data sync 3rd Party Connectors Keytime IRIS Accountancy Suite PTP e.g. Artificial Intelligence e.g. Analytics e.g. Bookkeeping Active Directory Office 365 e.g. Practice Management Time & Fees Company Admin Accounts Tax AML & KYC Contact Management Client Comms Staff Planning Document Management Jobs/ Tasks Practice Setup User ManagementMulti-site data sync Provisioning Security & Reporting Service Monitoring Licensing & Billing Project Darwin Note: This presentation outlines our product direction and is not a commitment to deliver products or services. Any dates and actual deliverables are subject to change.
- 85. Registered for the IRIS Hub in IRIS Accountancy Suite IRIS Hub Homepage and dashboard Synchronisation of clients data within IRIS Hub ‘Client tab’ Edited a client in the IRIS Hub and seen the client sync on IRIS Accountancy Suite Project Darwin
- 86. Help shape project Darwin Customers can participate several ways to engage with project Darwin Customers and partners who will help shape the products and platform by providing their requirements and feedback in our design phases. 1.DESIGN Customers prepared to test drive the products and platform before general release, giving us feedback to deliver better products. 2.TEST Customers who want to get hands on the new applications early ahead of the crowd through our project Darwin insider programme. 3.ADOPT Customers or partners looking to build or integrate their own solutions using the Darwin API and integration kit. 4.DEVELOP Want to join the project Darwin customer programme? Email: [email protected]
- 87. Project Darwin FAQs Is it going to be called Darwin? When can I get it? What products are coming first? How much will it cost? Will you migrate me off my desktop applications? Are you stopping development of desktop apps? Can I integrate my own apps and services to Darwin? How can I give my requests and provide feedback? How long will it take for project Darwin to be feature parity with IRIS? When will you retire IRIS? What you need to know about project Darwin 1 2 3 4 5 6 7 8 9 10
- 88. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology LUNCH & EXHIBITION COMING UP AFTER THE BREAK
- 89. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology Thriving in the Digital Economy – What’s new in IRIS AFTERNOON TEA & EXHIBITION COMING UP AFTER LUNCH
- 90. Thriving in the Digital Economy IRIS product strategy & how IRIS will help your practice thrive Embracing future technologies The future of tax & technology Thriving in the Digital Economy – What’s new in IRIS Countdown to MTD-day Industry Panel – Thoughts on the future of the digital economy COMING UP THIS AFTERNOON