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Welcome Michael Platt, MBA
INSIDE Public Accoun ng (317) 733‐1920
Mike Pla has been working with firms since 1985. As a past execu ve of two accoun ng firm associa ons, co‐founder of Accoun ngWEB.com, and publisher of INSIDE Public Ac‐coun ng, Mike has helped large local and regional firms across North America grow and thrive.
Mike’s interest in working with the accoun ng profession is fueled by his desire to help professionals reach their poten al. “My goal is to assist others see things differently, mo vate them to do things differently, and provide ideas of how others like them have successfully overcome the obstacles that are common in professionals' lives,” says Mike.
His 30‐plus years of hands‐on experience and interac on with firms gives Mike a unique perspec ve on what works and what doesn’t inside firms. Through insider conversa ons, surveys, presenta ons, and partner retreats, Mike focuses on fresh ideas, approaches and insider informa on for firms across North America.
Mike’s special es include:
financial and opera onal analysis and benchmarking trends innova ons in prac ce management being u lized by successful firms assis ng partners in establishing and agreeing to a direc on engaging staff in the future of the firm increasing client service and sa sfac on establishing and fine‐tuning the culture that the firm wants to build.
Mike and his wife, partner, Kelly are the publishers of the award‐winning INSIDE Public Ac‐coun ng, a leading newsle er focusing on prac ce management ideas and trends for the profession. They also publish the award‐winning IPA Na onal Benchmarking Report, the premier financial and opera onal benchmarking tool for hundreds of CPA firms.
Mike has been a top presenter delivering mely and relevant informa on and ideas that help business owners improve their businesses. Mike holds a Masters Degree in Business Admin‐istra on from George Washington University, with a concentra on in Marke ng.
mpla @pla groupllc.com www.insidepublicaccoun ng.com
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 1
Understanding Current Trends, Developing Unique
Strategies and IncorporatingSuccessful Ideas To Position
Your Firm For The Future
Future Forward
Michael Platt INSIDE Public Accounting [email protected]
94% Likely: Accountants and Auditors
98% Likely: Bookkeeping, Accounting and Auditing Clerks
99% Likely:Tax Preparers
© 2016 INSIDE Public Accounting
“The Future of Employment: How
Susceptible Are Jobs to Computerization?”
September 2013
Blockchain Technology: An “Extinction Level Event” for Auditing?
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 2
Changing Service Mix
© 2016 INSIDE Public Accounting
IPA
Changing Service Mix
© 2016 INSIDE Public Accounting
IPA
Strategy Discussions Inside Three IPA 100/200 Best of the Best Firms
“We are preparing for compliance work to go away in the next 10 years.”
“We’re wondering what life would look like if we gave up assurance services.”
“It is quite possible that we will be out of the audit business within 5 years.”
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 3
Shifting Power To Clients With The Ability To Track Fees In Real Time
© 2016 INSIDE Public Accounting
IPA
IPA: 9% of all firms (and 30% of firms
over $75 M) offer staff sabbaticals.
© 2016 INSIDE Public Accounting
Deferred staff bonuses – can
they work?
IPA
What Might a Future Staffing Model Look Like In a World Where . . .
• The average person will have 14 jobs by age 38?
• The average professional staff person will be withyou for under 5 years?
• Unemployment in the profession is < 1%?
• Anyone can walk across the street and get a job formore money?
• Staff costs are skyrocketing because they can?
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 4
Learning From The Best of the Best
70+ metrics reviewed
© 2016 INSIDE Public Accounting
Financial Results &
Sustainability
Revenue
Operations
Governance
Training
Compensation
Income
IPA
Group Results
IPA 100 (> $32M)96 firms (2015)
Top 10% of Highest BOB Score Among
IPA 100
Average All IPA 100
(96 firms)
Net Revenue Growth (Organic) 10.8% 6.9%
Revenue / Eq. Partner $3.57M $2.51M
Revenue / Employee $231k $195k
Net Rev. / Charge Hr. $206.78 $186.53
Profit Margin 35.1% 27.5%
Net Income Growth (Organic) 8.7% 8.6%
NIPEP $1.2M $675k© 2016 INSIDE Public Accounting
Group Results
IPA 200 ($15M - $32M)100 firms (2015)
Top 10% of Highest BOB Score Among
IPA 200
Average All IPA 200
(100 firms)
Net Revenue Growth (Organic) 10.6% 5.4%
Revenue / Eq. Partner $2.33M $1.82M
Revenue / Employee $233k $182k
Net Rev. / Charge Hr. $209.19 $163.53
Profit Margin 40.5% 29.7%
Net Income Growth (Organic) 16.8% 4.7%
NIPEP $946k $529k© 2016 INSIDE Public Accounting
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 5
Group Results
IPA 300 ($7.7M - $15M)100 firms (2015)
Top 10% of Highest BOB Score Among
IPA 300
Average All IPA 300
(100 firms)
Net Revenue Growth (Organic) 11.7% 5.8%
Revenue / Eq. Partner $1.84M $1.58M
Revenue / Employee $228k $173k
Net Rev. / Charge Hr. $175.90 $152.61
Profit Margin 41.1% 29.9%
Net Income Growth (Organic) 18.9% 5.9%
NIPEP $764k $458k© 2016 INSIDE Public Accounting
Group Results
All Others ($2M-$7.7M)
154 firms (2015)
Top 10% of Highest BOB Score Among
All Others
Average All Others
(154 firms)
Net Revenue Growth (Organic) 14.2% 4.6%
Revenue / Eq. Partner $1.43M $1.25M
Revenue / Employee $204k $162k
Net Rev. / Charge Hr. $173.25 $143.77
Profit Margin 39.6% 31.9%
Net Income Growth (Organic) 29.2% 6.4%
NIPEP $553k $377k© 2016 INSIDE Public Accounting
Tools of Governance
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 6
Exploring “Fully Loaded” Metrics
Firm Size
Average Net Income as a
Percentage of Net Revenue
(Profit Margin)
Average “Fully Loaded” Profit
Margin after expensing
$200,000 per equity partner
Average “Fully Loaded” Profit
Margin after expensing
$100/work hour for equity partners
Percentage of Initial Profit
Margin Retained after expensing
$100/work hour for equity partners
IPA 100(> $32.4 Million)
27.2% 17.9% 17.4% 64%
IPA 200($15M - $32.4M)
29.9% 17.6% 16.4% 56%
$5M - $15M 29.8% 14.3% 13.1% 45%
< $5M 33.2% 10.7% 8.4% 26%
Top 25 Best of the Best
38.9% 30.5% 29.5% 76%
© 2016 INSIDE Public Accounting
IPA
Exploring “Fully Loaded” Metrics
Firm SizeAverage Net Income Per
Charge Hour
Average “Fully Loaded” Net Income per
Charge Hour after expensing
$200,000 per equity partner for labor
Average “Fully Loaded Net Income per
Charge Hour after expensing
$100/work hour for equity partners
Percentage of Initial Income
Per Charge Hour Retained
after expensing $100/work hour for
equity partners
IPA 100(> $32.4 Million)
$50.02 $33.69 $31.83 64%
IPA 200($15 - $32.4M)
$50.07 $30.74 $27.82 56%
$5M - $15M $45.39 $22.62 $20.32 45%
< $5M $47.48 $15.50 $12.53 26%
Top 25 Best of the Best
$77.96 $61.38 $59.27 76%
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: > $50M20 Firms With Highest “Traditional” Profit Margin
(before owner compensation, bonuses, etc.)
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 7
Three Views on Profitability: > $50M“Fully Loaded” Profit Margin 1
(after expensing $200k/equity partner as cost of labor)
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: > $50M“Fully Loaded” Profit Margin 2
(after expensing $100/work hr./eq. partner as cost of labor)
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: $20M - $50M20 Firms With Highest “Traditional” Profit Margin
(before owner compensation, bonuses, etc.)
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 8
Three Views on Profitability: $20M - $50M“Fully Loaded” Profit Margin 1
(after expensing $200k/equity partner as cost of labor)
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: $20M - $50M“Fully Loaded” Profit Margin 2
(after expensing $100/work hr./eq. partner as cost of labor)
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: $5M - $20M20 Firms With Highest “Traditional” Profit Margin
(before owner compensation, bonuses, etc.)
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 9
Three Views on Profitability: $5M - $20M“Fully Loaded” Profit Margin 1
(after expensing $200k/equity partner as cost of labor)
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: $5M - $20M“Fully Loaded” Profit Margin 2
(after expensing $100/work hr./eq. partner as cost of labor)
© 2016 INSIDE Public Accounting
IPA
Three Views on Profitability: Top 25 Best of the Best
Blue=Traditional Red=$200k/Eq. Ptnr. Green=$100/Eq. Ptnr. Work Hour
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 10
Pro. Staff/Equity
PartnersLeverage
x
Charge Hours /
Pro. StaffUtilization
x
Gross Revenue/Charge Hours Billing Rate x
Net Revenue/
Gross Revenue
Realization x
Net Income /
Net RevenueMargin
=
Net Income Per Equity
Partner
Top Quartile
2nd Quartile
3rd Quartile
4th Quartile
The Maister Model(In Quartiles by Net Income per Equity Partner)
© 2016 INSIDE Public Accounting
IPA
Best of the Best (50)
Pro. Staff/Equity
PartnersLeverage
x
Charge Hours /
Pro. StaffUtilization
x
Gross Revenue/Charge Hours Billing Rate x
Net Revenue/
Gross Revenue
Realization x
Net Income /
Net RevenueMargin
=
Net Income Per Equity
Partner
Top Quartile 10.5 1,472 $213 87.5% 40.9% $1,179,621
2nd Quartile 10.3 1,325 $235 88.1% 29.6% $833,820
3rd Quartile 7.8 1,384 $201 89.5% 36.8% $709,719
4th Quartile 8.0 1,167 $213 88.8% 32.6% $573,415
The Maister Model(In Quartiles by Net Income per Equity Partner)
© 2016 INSIDE Public Accounting
IPA
Best of the Best (50)
IPA 100 (70)
Pro. Staff/Equity
PartnersLeverage
x
Charge Hours /
Pro. StaffUtilization
x
Gross Revenue/Charge Hours Billing Rate x
Net Revenue /
Gross Revenue
Realization x
Net Income /
Net RevenueMargin
=
Net Income Per Equity
Partner
Top Quartile
10.511.6
1,4721,453
$213$230
87.5%76.0%
40.9%33.1%
$1,179,621$979,076
2nd Quartile10.39.9
1,3251,350
$235$226
88.1%87.0%
29.6%25.7%
$833,820$674,941
3rd Quartile7.89.7
1,384 1,327
$201$229
89.5%85.1%
36.8%22.4%
$709,719$561,729
4th Quartile8.07.5
1,1671,295
$213$187
88.8%82.5%
32.6%25.8%
$573,415$389,723
The Maister Model(In Quartiles by Net Income per Equity Partner)
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 11
What’s An Hour Worth?(Bubble Size = Relative Net Income per Equity Partner)
© 2016 INSIDE Public Accounting
IPA 100
IPA
© 2016 INSIDE Public Accounting
IPA 100Best of the Best
What’s An Hour Worth? (Bubble Size = Relative Net Income per Equity Partner)
IPA
Leverage Among The IPA 100: Professionals Per Equity Partner
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 12
Personnel Costs as a Percentage of Net Revenue
Best of the Best
© 2016 INSIDE Public Accounting
IPA
2015 Professional Staff Merit Increases
0-2 Years 3-5 Years 6-8 Years 9+ Years Para-pros
Other Professional
Staff
FIRM SIZE (Net Revenues)
All Non-Big 4 6.1% 6.9% 6.2% 5.4% 3.9% 4.1%
>$75 Million 6.0% 6.2% 5.9% 4.8% 4.4% 4.4%
$50-$75 Million 6.4% 7.8% 6.1% 5.3% 3.6% 2.5%
$30-$50 Million 5.9% 6.4% 5.9% 4.8% 4.0% 4.6%
$20-$30 Million 5.5% 6.9% 6.3% 5.4% 3.7% 4.6%
$15-$20 Million 5.5% 6.9% 6.7% 5.7% 3.5% 4.8%
$10-$15 Million 6.5% 7.6% 6.5% 5.5% 4.4% 3.6%
$5-$10 Million 6.5% 5.7% 5.5% 3.9% 2.7% 3.0%
$3-$5 Million 5.6% 7.0% 5.4% 9.4% 4.3% 3.0%
< $3 Million 7.9% 6.0% 5.6% 5.1% 3.2% 4.0%
But Billing Rates Are Up Just 4.0% (4.4% for Best of the Best)
© 2016 INSIDE Public Accounting
IPA
Net Income per Equity Partner
© 2016 INSIDE Public Accounting
Best of the Best Average $1.16 M
Best of the Best Average $830K
Best of the Best Average $511K
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 13
Make Sure You Have a Tool That Can Help Focus The Partner Group
Sample Data – For Demonstration Only
© 2016 INSIDE Public Accounting
http://insidepublicaccounting.com/survey/report-cards
© 2016 INSIDE Public Accounting
IPA
Sample Data – For Demonstration Only
To Share or Not To Share?
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 14
To Share or Not To Share?
© 2016 INSIDE Public Accounting
IPA
To Share or Not To Share?
© 2016 INSIDE Public Accounting
IPA
To Share or Not To Share?
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 15
To Share or Not To Share?
© 2016 INSIDE Public Accounting
IPA
To Share or Not To Share?
© 2016 INSIDE Public Accounting
IPA
Business Development Incentives:Existing Clients or New Clients?
Why focus only on new
clients?
Only 30% offer incentives for both new and existing clients
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 16
What Percentage of Annual Revenue is in the Sales Pipeline?
© 2016 INSIDE Public Accounting
IPA
Don’t know or don’t track
0 - 5%
6 - 10%
11 - 15%
> 15%
Percentage of All BOBFirms Firms
49% 33%
22% 29%
19% 7%
7% 17%
4% 14%
• Lifetime value• Percentage of total firm revenue • Cost of client acquisition• Retention rate• Number of firm services utilized per client• Percentage of on-time completed projects• Opportunity index • Number of face-to-face meetings per year• Number of referrals per client• Percentage of annual firmwide revenue in the pipeline• Ratio of “big issues” clients consulted the firm on versus those
identified after-the-fact (such as learning about it in the tax organizer).
“Client-Focused” Metrics To Consider
© 2016 INSIDE Public Accounting
IPA
Best Practices of The Best of the Best
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 17
© 2016 INSIDE Public Accounting
Cu
ltura
l Bu
ildin
g B
lock
s o
f T
he
IPA
Bes
t o
f th
e B
est
IPA
Best of The Best Strategy“We Are Laser-Focused On Who Our
Next 100 Clients Will Be”
Our Firm
© 2016 INSIDE Public Accounting
IPA
Best of The Best Idea Encourage Innovation By Thinking Like a
Venture Capitalist
MP to Staff: “Think of us like a venture capital firm. Pitch us
your best ideas.” © 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 18
Best of the Best IdeaBreak The Cycle of “Every Dollar is a
Good Dollar”
“A” ClientsUpwardly Mobile
“B” ClientsUpwardly Mobile
“C” ClientsUpwardly Mobile
“D” Clients
Compensation Formula Weight
1.4 1.2 1.0 0.8
0.8 0.6 0.4
Permanent“B” Clients
Permanent“C” Clients
Permanent“D” Clients
© 2016 INSIDE Public Accounting
IPA
• CEO-to-Go
• Engagements ranging from $15k - $30k/mo.
• Firm has someone on-site 3 days per week
• Team of experienced administrators who work in concert to serve client needs
• CEO is the industry expert – not the accountant
• CEO has 3 clients
• Health care services is one of the fastest growing areas
Private Industry Hires Our People. Best of the Best Idea:
Why Not Do The Same?
© 2016 INSIDE Public Accounting
IPA
Best of the Best Idea: “We Can Help Our Clients Get Customers”
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 19
Before We Talk About What To Do . . .Let’s Start With “WHY”
© 2016 INSIDE Public Accounting
Simon Sinek – TED Talks “How Great Leaders Inspire Action”
IPA
© 2016 INSIDE Public Accounting
Ensure That Partners Focus On Doing Partner-Level Work
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 20
Find Hidden Strategic Advantages
How Many Languages Are
Spoken In YOUR Firm?
© 2016 INSIDE Public Accounting
IPA
Find Hidden Strategic Advantages
What might it mean to your firm if you discovered that 80% of your staff came from a family that owned a small business?
© 2016 INSIDE Public Accounting
IPA
© 2016 INSIDE Public Accounting
Partners Should Know, By Name, Who Their Next Three Prospects Are
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 21
Understand That Professional Confidence Determines Fees
© 2016 INSIDE Public Accounting
IPA
Don’t Ever Forget: CFOs Understand Low Price.
CEOs Understand Value.
© 2016 INSIDE Public Accounting
IPA
Walk Away From Bidding Wars
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 22
Change Your Dialogue: “Clients Want The Hole, Not The Drill”
What You’re Selling What They’re Buying
Tax Returns Insurance
Bookkeeping Peace of Mind
Tax Planning Hope
Financial Statements Protection
Cash Flow Statements Dreams
© 2016 INSIDE Public Accounting
IPA
Make Buying From You Easy
© 2016 INSIDE Public Accounting
IPA
Redefine Summer Activities
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 23
Allow Team Members To See And Celebrate Results
© 2016 INSIDE Public Accounting
IPA
Take The Mystery Out Of How Staff Can Get Ahead
© 2016 INSIDE Public Accounting
IPA
© 2016 INSIDE Public Accounting
Get Paid Employees To Come To Work With The Attitude Of A Volunteer
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 24
Issues of Concern …All Non-Big 4 Firms
15.6% of all owners are female
52.7: Average age of all owners
2.5% of owners are working an alternative or part-time schedule
12.8%: Percentage of firms indicating path to partnership isless than 10 years
41% of all equity partners named last year were lateral hires
64% of all firms have no succession plan
© 2016 INSIDE Public Accounting
IPA
Coming Soon From IPA and Convergence
Coaching
The Road to
Retention
www.in
sidep
ublicaccounting.com /
© 2016 INSIDE Public Accounting
IPA
Time To Shift
Focus
© 2016 INSIDE Public Accounting
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 25
A Strategy Question For You (And Your Partners) To Ponder
“What today is impossible to do in your
firm, but if it could be done would
fundamentally change what you do?”
© 2016 INSIDE Public Accounting
IPA
• Real-time auditing was a reality (and an expectation)?
• Books could be closed and tax returns prepared within a week of year-end?
• Just-in-time staffing was perfected?
• Outsourcing of tax returns overcame many of the psychological and security barriers that are encountered today?
What If . . .
© 2016 INSIDE Public Accounting
IPA
• Menu pricing were to replace hourly billing systems?
• Partners were required to be re-elected after serving athree-year term?
• An Orbitz-like website existed for buying audit and tax services?
• Knowledge sharing among your team was absolute?
What If . . .
© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 26
• You paid staff for their results, not time worked?
• Partners were held accountable (and financially penalized) for turnover of star staff?
• “Relationships” became virtual – no “face time” needed?
• Staffing models shifted to people who choose to work for you for no more than four years?
What If . . .
© 2016 INSIDE Public Accounting
IPA
Exercise Time To Slaughter Some Sacred Cows!
© 2016 INSIDE Public Accounting
IPA
What Are Some of YOUR Sacred Cows?
• Realization rates are important
• Negative thoughts are not productive
• Timesheets are necessary
• Billing by the hour is how we charge
• Standard metrics tell us what we need about our business
• No time for additional value added work during busy season
• Face time is critical, team needs to be in the office
• Career success = partnership
• We are a service organization, not a sales organization
• Staff turnover shouldn’t affect partner compensation
• Proposals are necessary to get business
• Partners own the relationships
• Compensation is based on production
• Clients are limited by geography
• There is a difference between a partner and a team member
• Confrontation is a bad thing
• Partners need a strong book ofbusiness
• Partners are best to run the firm
• Minimum hours are required during tax season
• No one else can do what I do
• Entry point to a client is compliance
• Need to have a set game plan
• Core hours are needed© 2016 INSIDE Public Accounting
IPA
INSIDE Public Accounting 5/17/2016
[email protected] (317) 733‐1920 27
Exercise Delivering “Kick-Ass Client Service”
What would client service look like if everyday companies were to get into the accounting,
tax and consulting business?
© 2016 INSIDE Public Accounting
IPA
FINAL THOUGHT
You CAN Choose Your Own Path . . . To Be The Best!
© 2016 INSIDE Public Accounting
Thank You For Your Participation Today!
© 2016 INSIDE Public Accounting
Michael PlattINSIDE Public Accounting
4000 W. 106th St., Ste. 125-197, Carmel, IN 46032(317) 733-1920 P
IPA
WELCOME TO INSIDE PUBLIC ACCOUNTING
About Us
The Platt Group is the publisher of INSIDE Public Accounting (IPA), the award-winning newsletter, and the award-winning IPA National Benchmarking Report. With more than 27 years of independent experience, IPA provides data and ideas from managing partners, CFOs and thought leaders across the nation. Firms can use this information to adapt to the ever-changing landscape of the profession, overcome obstacles and achieve their potential.
“I have subscribed to INSIDE Public
Accounting for more than 10
years. They are one of the best
sources for breaking industry news,
articles, practice management
analysis and best practices within
the profession. All �irm leaders
should consider IPA as a trusted
advisor in the industry.”
– Jamie Ellis
Katz Sapper & Miller
Table of Contents • Client List……………………………………………… 2 • Survey & Analysis of Firms…………………….. 3 • National Benchmarking Report…………….... 4 • Internal Operational Reports………...……….. 5 • Financial & Operational Report Card...……. 6 • INSIDE Public Accounting ……....……………...7 • IPA INSIDER E-News Updates ……....……….. 8 • Celebrate Your Firm’s Success………………... 9 • Who’s Behind IPA…………………………………. 10 • What People Are Saying………………………… 11
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Our Clients 500+ IPA Survey Participants
IPA 100 – Big 4 through firms at $32.4 million in net revenue
IPA 200 – Firms ranging from $32 million to $15 million in net revenue
IPA 300 – Firms ranging from $15 million to $7.6 million in net revenue
IPA Partnered Associations Alliott Group
CPAmerica
DFK International
LEA Global
Moore Stephens North America
PrimeGlobal
IPA Audience / Clients Accounting firm Managing Partners
Accounting firm Partners and Owners
Accounting firm CEOs, COOs and CFOs
Accounting firm Administrators
Accounting firm Marketing Directors
What Makes INSIDE Public Accounting Unique
INSIDE Public Accounting is different than other
publishing companies. IPA’s annual award-winning
National Benchmarking Report and the monthly INSIDE
Public Accounting newsletter has earned it the respect of
the top minds in the accounting profession.
For four decades, firm leaders have entrusted IPA with
their firms’ sensitive financial and operational data,
knowing that their information will always be kept
confidential. More than 500 accounting firms participate
annually in IPA’s benchmarking survey, which targets
firms ranging in size from $1 million to more than $1
billion across the country.
The survey is the basis of all that is done at IPA, as it
provides the information that is analyzed in the
benchmarking report and in newsletter articles that aim
to help leaders push their firms to grow, become more
profitable and better serve their clients.
I N S I D E P u b l i c A c c o u n t i n g ( 3 1 7 ) 7 3 3 - 1 9 2 0
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INSIDE Public Accounting’s Survey & Analysis of Firms
The IPA Annual Survey and Analysis of Firms is open to all accounting firms in North America. The result of the survey is the annual IPA National Benchmarking Report, which is one of the longest-running, most complete, independent sets of economic and management statistics available about the accounting profession.
Gain a competitive advantage and grow your firm with industry insight from the independent benchmarking leader in the nation.
WHY THE IPA SURVEY?
a) Independent third-party verification of data. b) Streamlined data collection alleviates survey fatigue and frees up staff for other high-value
activities. c) Apples-to-apples comparisons. d) Ongoing analysis is available to all participants, including international firms.
WHAT YOU CAN EXPECT a) All confidential firm data, including salaries, compensation, income, etc., will held in strict
confidence. b) IPA conducts a thorough review of each survey submission for commonly missed areas and
for any and all errors. c) The opportunity to be included in the largest annual management of an accounting practice
(MAP) survey in the country. Your firm will be benchmarked with more than 500 firms and may be ranked among this year’s top firms in the IPA 100, IPA 200, IPA 300 and the coveted IPA Best of the Best Firms in the nation.
d) A complimentary copy of the August issue of the award-winning INSIDE Pubic Accounting newsletter. This issue highlights the annual IPA 100 firm rankings, along with a detailed financial and operational analysis of the rankings.
e) An electronic complimentary copy of the Executive Summary of the IPA National Benchmarking Report. If you participate in the Internal Operational surveys, you will also receive a complimentary executive summary when published in September.
f) You will receive preferred pricing on the IPA National Benchmarking Report, the Internal Operational Reports and other benchmarking items.
g) You will get preference for selection in articles written by IPA throughout the year. This is an excellent opportunity to market your firm.
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INSIDE Public Accounting’s National Benchmarking Report
The national report includes all aggregated data compiled from participating firms in the IPA Survey and Analysis of Firms. More than 300 data points from the survey are analyzed and broken down by revenue bands and geographical locations.
Both print and PDF options are available.
Firms that participate in the annual IPA surveys receive a complimentary Executive Summary. IPA has partnered with some of the leading associations to offer services, tools and resources not found elsewhere. Partner association members receive the full access benchmarking report, and some receive a more robust set of tools, such as the internal operational reports.
LOOK INSIDE THE
2015 EXECUTIVE SUMMARY
Includes Table of Contents, Analysis
and Sample Data Tables
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Human Resources
HR Software Systems Firm Demographics
PTO / Holidays Administrative Personnel Data
Compensation Benefits
CPE / Internal Training Recruiting
Evaluations / Reviews
INSIDE Public Accounting’s Internal Operational Reports
Firm Administration Administrative Costs Partnership Issues Firmwide Compensation Charge Hours Utilization Business Incentives Bonuses Salary Increases Workflow / A/R / WIP
Information Technology
Operating Systems / Hardware Firmwide Users
Cloud Computing Network Technologies
Mobile Devices Internal Systems / Software
Client Portals Internal Procedures
View Table of Contents, Summaries and Sample Data Below
Firm Administration Report
Human Resources Report
Information Technology Report
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INSIDE Public Accounting’s Financial and Operational Report Card
Compare: Net Revenue – Operations – Net Income – Compensation
The IPA Financial and Operational Report Card is a one-page snapshot of your firm’s overall performance in 22 metrics compared with more than 500 firm survey participants, firms in your revenue band and the IPA Best of the Best firms. The Report Card, broken out by top, middle and bottom quartile, allows you to quickly see where your firm is doing well and the areas that may need extra attention. The Report Card [PDF sent via email] is customized based on revenue (IPA Top 100 firms [$30 million and above], $10 million to $30 million, $5 million to $10 million, and $2 million to $5 million.)
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INSIDE Public Accounting’s Monthly Newsletter
The IPA monthly newsletter uncovers trends, strategies and next practices that firms are using to move from idea to execution. The IPA newsletter ranks and
reports on key metrics of the largest firms in the nation – the IPA 100, 200 and 300. The subscription-based newsletter features in-depth interviews with leaders of the Best of the Best firms, most-admired peers and top influencers around the country.
IPA reports on and shares information on benchmarking trends, practice management advice and, of course, the latest breaking news. IPA’s goal is to inform firm leaders of successful strategies to help their firms succeed. Turn information into action with IPA.
SHARE THE WEALTH
Want to share the knowledge and actionable information from IPA with your partner group or with your whole team? Contact us to
see how a firmwide subscription can be the answer.
IPA Sample Newsletter
IPA 100, 200 & 300
Best of the Best
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INSIDE Public Accounting’s INSIDER E-News Updates
Sign up for INSIDE
Public Accounting’s IPA
INSIDER, complimentary
e-news updates straight
to your inbox, to learn
about the latest mergers,
partnership issues and
breaking news from top
firms across the nation.
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Celebrate Your Success
If your firm receives any of the many IPA accolades, or is
featured in a newsletter article - CELEBRATE.
For a nominal fee you can receive customized reprints
with unlimited publishing rights to distribute to clients,
to use in marketing materials, recruiting and more.
SAMPLE REPRINTS
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Who’s Behind INSIDE Public Accounting
Kelly Platt, MP of INSIDE Public Accounting and partner in The Platt Group, has worked within the profession since 1994 and has developed a deep understanding of the inner workings of CPA firms. A co-founder of AccountingWEB.com, Kelly currently directs all aspects of IPA’s Annual Survey and Analysis of Firms and the monthly IPA newsletter. Email: [email protected]
Mike Platt, MP of The Platt Group, has been working with firms since 1985. As a past executive of two accounting firm associations and co-founder of AccountingWEB.com, Mike has helped large local and regional firms across North America grow and thrive. Mike continues to bring fresh ideas, approaches and information to firms across the globe. A sought-after presenter, Mike specializes in benchmarking trends and analysis, and partner retreat facilitation. Email: [email protected]
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What People Are Saying
Follow us on Twitter @ipainsider
Connect with us on LinkedIn
Visit our blog blog.insidepublicaccounting.com
“IPA provides an in-depth view of the profession. The monthly articles provide timely benchmark information, which helps to keep me and my firm up-to-date with trends and how we can benefit from the ongoing change in the profession.”
“During times of change, firms can’t get an accurate gauge of performance by comparing to years past, so tools like the IPA National Benchmarking Report are more important than ever.”
“INSIDE Public Accounting has been the leading industry source of information through its newsletter, the PRIME Symposium, and the benchmarking report for many years by providing everyone in the industry with timely news on what's happening in the industry .... from mergers to other key developments, trends, sound perspectives, future expectations and advice for sound practice management.”
"I love our profession and completely respect The Platt Group and INSIDE Public Accounting for their consistent contribution to make our profession better. I consistently refer firm leaders to the IPA benchmarking report and appreciate the in-depth reviews and analysis of data from firms across our profession."
Contact Us
The Platt Group INSIDE Public Accounting
4000 W. 106th St., Ste. 125-197 Carmel, IN 46032
(317) 733-1920 O (317) 663-1030 F
Visit us on the web at www.insidepublicaccounting.com