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Episode 2: The roadmap to digital transformation for CPAs

The drive towards digital transformation is creating new opportunities, new business models, and emerging leadership positions for CPAs who are up for the challenge. In this episode, we hear from two CPAs who are driving this shift towards digital.

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A growing number of CPAs are facing up to the digital reality. They know that going digital can improve the performance of their current business and are aware that digital can give birth to new business models to shake up the marketplace. But where do you start? Digital transformation is a journey and as organizations continue to adapt and transform in response, CPAs have a unique opportunity to take a leadership role in guiding their organization’s digital transformation.


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In this episode

  • Josh talks about the early days of LiveCA, the days before they had a clear business plan (2:05)
  • Josh describes the target customer for LiveCA (4:45)
  • Josh describes how tech and digital transformation are becoming fundamental to what they offer customers (5:37)
  • Josh describes how digital transformation can be iterative. Steady progress over time can result in dramatic change. (8:49)
  • Josh says the biggest challenge to any digital transformation is the human element. To be successful you need to understand the human needs of the organization. (10:33)
  • Nat says organizations are recognizing they cannot be strategic when information is siloed and they need to develop a shared understanding of data (14:08)
  • Nat explains how auditors can bring their skillset to the world of data and digital transformation (15:22)
  • Nat explains the best way for a CPA to insert themselves into leadership roles around digital transformation (16:32)
  • Nat describes the mindset that drives successful digital transformation (20:12)

Key takeaways

  • This episode focuses on how the drive towards digital transformation is creating new opportunities, new business models and emerging leadership positions for CPAs who are up for the challenge.
  • We hear from two CPAs who are driving this shift towards digital. First up is Josh Zwieg, the CEO of LiveCA, Canada's first and largest online accounting firm. Josh says his customers are looking for more advanced reporting and analysis. To stay competitive, “technology [needs] to stay at the forefront because that's in fact what our customers are asking for." says Josh.
  • Josh goes on to say, the biggest challenge to successful digital transformation is not technology per se, but people. “Technology isn't the solution. It is part of the solution. And what we need to do is really understand the needs of the other person on the other side, to really understand their goals and to be conscious of them when doing an implementation.”
  • David’s next guest agrees. Nat D'Ercole is a partner at Deloitte where he's the data transformation leader for Deloitte Canada's artificial intelligence practice. He tells David, the human aspects of being a leader are critical, “Having that connection with your leaders and helping them to be successful on their own personal journeys is a very important human aspect of leading transformation.”
  • Nat encourages CPAs to develop a mindset that spots the opportunity that comes with perpetual change. “The new normal is that there is no normal and having a mindset that there isn't a beginning and an end to a particular transformation or a particular project or program.” says Nat.

Disclaimer: The views and opinions expressed in this podcast are those of the guest and do not necessarily reflect those of CPA Canada.