Count Me In®

Join us on the latest episode of Count Me In as Adam Larson sits down with Jeremy Earnshaw, a seasoned executive coach and mentor, to talk about the transformative power of continuous coaching and mentoring. Jeremy breaks down the misconceptions around coaching, explaining why it's not just a quick fix but a vital, ongoing journey. Listen as Jeremy shares his unique "no fault" policy and underscores the importance of having genuine, systemic changes within organizations. Discover how Jeremy's extensive experience as a CFO and his passion for coaching and mentoring have driven effective leadership and long-term organizational success. Whether you're in leadership, HR, or just curious about enhancing professional development, this is one conversation you won't want to miss. Tune in to understand why coaching can be a strategic game-changer for your career and your company.

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

🚀 Join Adam Larson in this episode of Count Me In as he chats with Katrina Nacci, a top Cross-Border Accounting Advisor. 🎙️ From her days at PwC Boston to launching her own advisory firm in Germany, Katrina shares her inspiring career journey and insights on cross-border accounting.

Learn how Katrina helps European companies break into the US market affordably and hear about the challenges and rewards of international finance. 🌍💼 From IPOs to using AI tools like ChatGPT, Katrina's approach as a fractional chief accounting officer is full of practical tips and innovative strategies. Plus, hear a fascinating case study where she saved a UK tech firm big bucks!

This episode is a must-listen for finance pros and anyone curious about global business. Tune in for a candid, engaging conversation with one of the industry's brightest minds! 💡📈

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

In this riveting episode of Count Me In, host Adam Larson sits down with Renata Serban, founder of Highly Elevated CPA and a powerhouse in the cannabis accounting industry. Renata's journey from Kazakhstan to the US, her academic pivot from chemical engineering to accounting, and her role as a strategic advisor in the cannabis sector promise to keep you hooked. Together, they chat about everything from the potential rescheduling of cannabis legislation to the vital medical benefits of cannabis, especially for cancer patients. You’ll also hear about the uphill battles faced in cannabis accounting, the importance of voting for transformative change, and the historical propaganda that still colors perceptions today. Whether you’re curious about the practical challenges in the weed industry or the optimistic future of cannabis reform, Renata's insights provide a compelling look into the regulatory landscape. Tune in for a candid conversation that's both enlightening and inspiring!

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

Join us on Count Me In for an insightful chat with Justin Smith, CFO at FinQuery! Justin tackles pay disparities that accountants face at Big Four firms and envisions a future where salaries rise to reflect their true value. He also shares how FinQuery's robust learning budget helps employees dive into AI and product development.

We explore the importance of transparency, mission-led organizations, and celebrating achievements to boost morale. Justin's advice on balancing empathy with organizational goals is a must-hear for leaders navigating post-pandemic challenges. Hosted by Adam Larson, this episode is packed with valuable insights on accounting, leadership, and employee engagement. Don't miss it!

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

Join us on the latest episode of the Count Me In Podcast as host Adam Larson chats with Sheila Rondeau, the CEO of MOGXP and an introverted powerhouse who’s mastered the art of networking and personal branding.

Discover Sheila’s top strategies for making networking less intimidating, including her unique plan of connecting with five quality contacts per event. She also offers invaluable tips on maintaining authenticity in personal branding, balancing social media efforts, and the crucial distinction between reputation and brand.

Learn how to build genuine connections, engage thoughtfully on LinkedIn, and offer real value in your professional interactions. Whether you're an introvert or an extrovert, Sheila's insights on making networking work for you, understanding thought leadership, and respecting others' time are game-changers.

Tune in and get ready to transform the way you approach networking and personal branding, one meaningful connection at a time.

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

Join host Adam Larson as he chats with the insightful Rachel Kourakos, transition and leadership coach at Rachel Kourakos Coaching & Consulting, about the art of human interactions and mastering self-awareness. Rachel shares impactful stories and practical tips on understanding others' needs, handling feedback constructively, and managing emotions consciously. They discuss the beauty and opportunities within change, the power of self-talk, and how to approach life’s transitions with positivity.

Rachel emphasizes that everyone makes choices that shape their experiences—whether we realize it or not. Tune in to learn how adopting a leadership mindset, practicing empathy, and embracing curiosity can transform both personal and professional lives. Packed with heartfelt anecdotes and engaging dialogue, this episode promises valuable takeaways for anyone looking to enhance their communication skills and emotional intelligence.

Listen and get inspired to lead your life with intention and awareness! 

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

Join us on the Count Me In Podcast for an enlightening conversation with Daniel Paik, CEO of Curowork, as he shares powerful insights on transforming back office roles into vital growth engines. With 20 years of experience in corporate finance and accounting, Daniel discusses how enhancing efficiency, automating processes, and completing long-pending projects can supercharge your business. You'll hear practical tips on managing unplanned tasks, avoiding the pitfalls of partial task visibility, and the importance of prioritization. Discover how renaming back offices to "value centers" can shift mindsets and drive growth. Daniel's passion for elevating your team's role is both inspiring and actionable. Don't miss Adam Larson and Daniel Paik's deep dive into creating supportive, clear, and efficient work environments that lead to remarkable business outcomes. Tune in for this must-listen episode!

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

Tune into this episode of Count Me In, where host Adam Larson sits down with Rohit Kharbanda, Head of Hotel Finance Services & Growth at IHG Hotels & Resorts. With a 20+ year career at top companies like Hewlett-Packard, General Electric, and Oracle, Rohit shares vital insights into sustainable sourcing, reducing carbon footprints, and how green practices drive customer loyalty.

Get the scoop on the challenges of ESG reporting, the strategic role of finance in sustainability, and the regulatory complexities of AI and data privacy. Rohit's mix of wit and wisdom offers practical advice for anyone curious about how sustainable practices are reshaping business.

Don't miss this engaging conversation packed with forward-thinking strategies to protect our planet while achieving business success!

Sponsor:
Today's episode is brought to you by U.S. Bank. U.S. Bank is a trusted financial partner for our clients, businesses and communities. We believe in doing the right thing and putting people first. It’s an honor to be recognized as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the tenth consecutive year. From commercial credit cards and program management tools to innovative payment technologies and transportation offerings, U.S. Bank Corporate Payment Systems has the right solution to help your organization reduce payment costs, enhance control and streamline your entire payment processing function. We’ll partner with you to uncover your challenges and provide smart, clear and honest guidance to help you meet the financial goals for your business. Visit usbank.com/corporatepayments to learn more.

Join us on this episode of the Count Me In Podcast as Adam Larson sits down with Aaron Levine, the CFO of Prophix, to explore the evolving role of CFOs in today's dynamic business environment. Aaron shares his journey from controller roles at public software companies to leading the finance and accounting departments of several venture and PE-backed businesses. He offers insights on overcoming current challenges in the software space, building trust within teams, and the importance of data governance. Listen in as Aaron discusses hiring strategies, the impact of AI on accounting roles, and the unique experience of working at a company that serves CFOs. Packed with practical advice and candid reflections, this conversation is a must-listen for finance professionals and business leaders alike.

Join host Adam Larson for a captivating conversation with Tevia Hoalst, the dynamic owner and founder of TeKoda Accounting. Tevia shares her inspiring journey from a toxic corporate environment to leading a company with an award-winning culture. Discover the importance of creating a thriving workplace, the role of transparent communication, and some unique team-building ideas like company retreats and virtual offices. If you’re looking to improve your own company culture or are just curious about the behind-the-scenes of a successful business, this episode is a must-listen!

Join Adam Larson as he sits down with Christian Hyatt, co-founder and CEO ofrisk 3sixty, in this eye-opening episode of the Count Me In. From starting out in the world of public accounting to leading a successful cybersecurity firm, Christian shares his unique journey and offers valuable insights into the complex world of cyber threats. Discover who the real "bad guys" are, the surprising sophistication of criminal organizations, and how businesses can better protect themselves in an increasingly digital world. Perfect for anyone interested in cybersecurity, entrepreneurship, or just looking for an engaging and informative listen. Don't miss out on this fascinating conversation!

In this episode of Count Me In, join host Adam Larson as he sits down with the dynamic Tineke Distelmans, Assistant Professor at Vrije Universiteit Amsterdam, to break down the buzzwords of artificial intelligence and machine learning. Tineke shares eye-opening examples of how we interact with AI daily, from your smartphone's virtual assistant to the algorithms guiding your social media feeds. Hear about her fascinating case study on predicting patient satisfaction in hospitals and how machine learning can drive smarter decisions. Tune in for a casual, yet insightful chat that covers everything you need to know about implementing AI in your own work. Get ready to be inspired by Tineke's wealth of knowledge and practical tips.

Join host Adam Larson as he sits down with Michael Housman, the founder and CEO of AI-ccelerator, who shares his intriguing journey from academia to the dynamic realm of fintech. Michael’s passion for data and coding has taken him from healthcare to HR tech, e-commerce, and now the cutting-edge world of financial technology. They chat about the importance of flexibility in career paths, the transformative power of AI in credit decisions and underwriting, and the game-changers like Brex that are disrupting the fintech market.

Michael also dives into the balancing act between human intuition and machine algorithms in fraud detection, offering practical tips for finance and accounting organizations. Whether you’re curious about AI’s impact on jobs or looking for ways to innovate within your own company, this conversation is packed with insights and real-world examples. Tune in for a thought-provoking discussion that’s both approachable and enlightening!

In this compelling episode of Count Me In, your host Adam Larson sits down with the dynamic Nicky Billou—podcaster, coach, and President and CEO of eCircle Academy. Nicky passionately speaks with a heartfelt nod to his father's teachings; he explores how seeing the greatness in others can restore faith in humanity.

Tune in as Nicky discusses the transformative power of authentic storytelling and how meaningful life experiences shape true thought leadership. Discover his motivational stories, like helping entrepreneurs shift their messaging to achieve incredible success and supporting individuals in reaching their dreams.

Feel the emotional impact of Julie's journey—a professional who turned her life around with Nicky’s guidance, leading to personal and financial victories, and even touching her family deeply. Learn what drives Nicky to keep making such a profound difference in people's lives.

If you're looking for inspiration, wisdom, and a hearty dose of authenticity, this episode is not to be missed!

Join us on Count Me In for an enlightening and engaging conversation with Callum Liang, author of "Boardroom Blueprint." In this episode, host Adam Larson sits down with Callum to uncover why accountants and business professionals should aim for board positions to supercharge their careers and personal growth.

Callum shares his insights on what companies look for in a stellar board member and reveals the real, often hidden, pathways to landing a board seat. From leveraging LinkedIn to setting up advisory boards, Callum offers practical advice on building a compelling personal profile and making valuable connections that can change the trajectory of your career.

Whether you’re an aspiring board member or simply looking to up your professional game, this episode is packed with actionable tips and authentic stories. Don’t miss out on the chance to learn from one of the best in the business. Be sure to check out Callum’s book and connect with him on LinkedIn after you listen!

Don't miss this insightful conversation with Frank Tumminello, CEO of FileForms, as he breaks down the complexities of the Corporate Transparency Act. With millions of companies facing new reporting requirements, Frank shares his expertise on who needs to file, what information is required, and the potential consequences of non-compliance. He also discusses the importance of secure data management, and the role technology can play in simplifying the filing process. This episode is a must-listen to navigate the changing landscape of corporate transparency. 

In this exciting episode of Count Me In, Adam Larson sits down with Mike Wallace, the Chief Decarbonization Officer at Persefoni AI. Four years after his last insightful appearance, Mike returns to discuss the evolving landscape of carbon accounting and the critical role of the Chief Decarbonization Officer.

Tune in as Mike and Adam explore why carbon accounting has become increasingly important for today’s finance professionals and the real-world impact of precise carbon measurement in various industries. Mike shares fascinating stories from the field, the challenges of transitioning from spreadsheets to automated systems, and offers practical advice for small to medium-sized businesses looking to stay ahead in the carbon accounting game.

Get ready for an engaging conversation packed with expert insights, practical advice, and forward-thinking strategies from one of the leading voices in ESG and decarbonization. Whether you’re a seasoned accountant or just curious about the future of sustainable practices, this episode is a must-listen!

Join host Adam Larson on this insightful episode of Count Me In Podcast as he sits down with Corey Noyek, Vice President of Finance & Operations at Cardata. Corey shares his passion for breaking down silos and fostering an environment where diverse perspectives thrive. Tune in to hear practical strategies for improving communication between departments, navigating the challenges presented by virtual work, and leveraging technology responsibly. Corey also offers valuable tips on maintaining a curiosity mindset, asking the right questions, and ensuring every team member feels heard. Whether you're a manager looking to boost your team's cohesion or just curious about improving workplace dynamics, this episode is packed with actionable advice and engaging conversation. Don't miss it!

Join Adam Larson as he chats with Luke Deka, the Chief Executive Officer and Founder of Growbots, about overcoming outbound sales challenges in small and medium-sized businesses. Luke shares his wealth of expertise, offering practical advice for accountants looking to move beyond referrals and confidently approach outbound sales.

In this episode, you’ll learn:

Luke provides real-world examples and actionable steps to help elevate your sales game. Whether you’re an experienced accountant or just starting out, this episode is packed with valuable insights to help you scale your business.

Get ready for an engaging conversation with Adam Larson and special guest Pooja Sund, Engineering Finance Leader at Microsoft, on this episode of Count Me In! Pooja, a finance and AI expert, breaks down the fascinating differences between AI and traditional programming, shedding light on how AI is revolutionizing the financial industry.

From risk management and fraud reduction to personalization and sentiment analysis, discover how AI can be a game-changer for your business. Plus, learn about the crucial aspects of security, privacy, and bias when implementing AI solutions. Whether you're a business leader, finance professional, or tech enthusiast, you won't want to miss this insightful episode packed with practical takeaways and future-forward thinking.

Tune in and supercharge your understanding of AI's potential in today's dynamic landscape!

Join host Adam Larson as he sits down with data integrity expert and author, Jane Sarah Lat, to uncover essential insights from her book, Managing Data Integrity for Finance. Jane breaks down the critical concepts of data integrity and data quality, using relatable analogies and real-world applications.

In this episode, Jane shares the importance of maintaining accurate and reliable data in today's tech-driven finance landscape. She highlights the tools and techniques that can elevate your data game, including Google Sheets, Microsoft Excel, powerful business intelligence tools like Power BI and Tableau, and the advanced Amazon Quantum Ledger Database.

But that's not all! Jane also touches on the exciting rise of generative AI and its potential impacts on data integrity. Whether you’re a finance professional looking to upskill or just a curious learner, this episode is packed with practical tips and valuable insights. Don’t miss out—tune in and elevate your understanding of data integrity today!

Get ready for an inspiring journey on this episode of Count Me In! Join host Adam Larson as he sits down with Brett Kelly, the dynamic founder of Kelly Partners. From his humble beginnings in Australia to building a global accounting firm with offices in Los Angeles, Hong Kong, and Mumbai, Brett shares his extraordinary story of resilience, ambition, and the power of self-education. Discover how Brett turned adversity into opportunity, spoke to 80 prominent Australians, and self-published a best-selling book that skyrocketed his career. With captivating insights and practical advice, Brett emphasizes the importance of finding your true mission, surrounding yourself with the right people, and making a meaningful impact. Tune in and get inspired to follow your passion and leave a lasting legacy. Don't miss out on this engaging conversation that's bound to ignite your own drive for success!

Join host Adam Larson as he welcomes Jean Pierre Rukebesha, Co-Founder and CEO of Rukbe Tech, in an episode that highlights the seamless blend of accounting expertise and tech innovation. Jean Pierre shares his inspiring journey from growing up in Rwanda to becoming a pioneering entrepreneur in Canada. Discover how his background in accounting led him to create groundbreaking technological solutions for small businesses.

Jean Pierre’s story is filled with insightful anecdotes, hard-earned lessons, and actionable advice for aspiring entrepreneurs and tech enthusiasts alike. Tune in to hear about the power of financial literacy, the importance of finding your "why," and navigating the rapidly evolving landscape of digital technology. Whether you're a seasoned business owner or just starting, this episode promises valuable takeaways wrapped in an engaging conversation.

Join us for a spirited conversation with Bruce Ditman, Chief Growth Officer at Trigger and Managing Partner at Chiefseconds.com, who shoots down the myth of the "secret sauce" in the world of success. In this lively episode of the Count Me In Podcast, host Adam Larson engages Bruce in a straightforward yet thought-provoking dialogue about the allure of complexity, sales wisdom, and the real keys to excellence. From hilarious wing-eating analogies to hard-hitting truths about behavioral changes, Bruce brings his unique perspective and energy. Whether you're a marketing professional, a leader, or someone just looking to simplify your path to success, this episode is packed with actionable insights and a good dose of humor. Tune in for a refreshingly honest look at what it really takes to achieve your goals!

Join Adam Larson in this enlightening episode of the Count Me In Podcast as he chats with Gaby Lahoud, CEO at B Certified Pro and a seasoned certification exam expert with a passion for helping exam takers succeed. Gaby shares invaluable tips on how to go beyond rote memorization and truly understand exam material, which is a game-changer for any certification exam. From tactical strategies like prioritizing easy questions and using consistent answers for the unknowns, to deeper insights on overcoming psychological barriers like doubt and test anxiety, Gaby covers it all.

He also offers practical advice on integrating study sessions into a busy schedule, preparing with full-length practice exams, and maintaining a confident mindset. As they discuss everything from pacing during exams to making smart food and drink choices, you'll gain a wealth of knowledge to help you tackle your exams with confidence. Tune in and let Gaby's expertise guide you to exam success!

Join host Adam Larson as he chats with Jeremy Bryant on the Count Me In Podcast in a refreshing and insightful conversation. Hear about Jeremy's inspiring journey from accounting to entrepreneurship, real estate, and his latest venture, No Story Lost. Get ready for engaging stories and valuable insights straight from the guest himself.

Count me in listeners can receive a special discount by going to nostorylost.com and entering the code Podcast2024 for 2 free books.  

Join us for an insightful episode of Count Me In as Adam Larson sits down with the authors of the 2023 Curt Verschoor Ethics Feature of the Year, Dana Hermanson and Douglas Boyle. Dana, the Dinos Eminent Scholar Chair of Private Enterprise and professor of accounting at Kennesaw State University, and Douglas, professor and department chair in accounting at the Kania School of Management at the University of Scranton, share from their award-winning article. In this episode, they introduce the Fraud Prevention Pyramid, a crucial framework with five stages to help professionals build resilience against fraud.

Dana offers practical advice on preparing for and defending against pressure in the accounting world, while Doug emphasizes the role of emotional intelligence in recognizing and mitigating fraud risks. Discover tips on navigating ethical dilemmas, avoiding common pitfalls, and the importance of skepticism in today's tech-driven landscape. Whether you're an accounting student or a seasoned professional, this episode is packed with valuable insights to enhance your fraud prevention acumen and ensure integrity in your financial reporting. Tune in for a conversation that's both enlightening and essential for anyone in the field of finance and accounting!

Join us for a compelling episode of the Count Me In Podcast, where our host Adam Larson welcomes Howard Chang, CEO of Just Meeting Rooms and a beacon of resilience and entrepreneurial spirit. In this open-hearted discussion, Howard recounts his rollercoaster journey through personal and professional upheavals, including bankruptcy at 29 and overcoming cancer. Learn about Howard’s approach to redefining failure, leveraging lessons from sports for business success, and the pivotal role of resilience in his comeback story. We’ll explore how Howard transformed challenges into opportunities with innovative ventures like Just Meeting Rooms. His insights on managing risk, embracing imperfections, and the power of authenticity will inspire anyone navigating their own hurdles. Don’t miss this episode where wisdom and motivation meet real-life triumphs and trials.

Tune into this compelling episode of Count Me In with guest Srinath Ganesan, the Director of Finance & Risk Solutions at SAP. Srinath unpacks the transformative role of AI in finance, presenting it as both an enabler and a crucial tool for ethical considerations. With a wealth of experience, he brings practical insights, discussing how AI streamlines processes like financial reporting and influences investment decisions. Hosted by Adam Larson, this engaging discussion is perfect for finance professionals, and anyone interested in the ethical integration of technology in finance. Don't miss these expert insights to navigate the evolving intersection of AI and finance with confidence.

Celebrate International Management Accounting Day with a special episode of the Count Me In Podcast, featuring an enlightening discussion between two esteemed guests: Travis Willard, Senior Vice President of Product and Innovation at IMA, and Susie Duong, Director of Research at IMA, bringing unique perspectives on the integration of AI into accounting and finance.

As they exchange insights on how artificial intelligence is reshaping the landscape of talent retention and career development, listeners will uncover cutting-edge strategies to stay ahead in an ever-evolving field. This episode is a perfect salute to the day that honors the significance of management accounting, providing actionable intelligence for professionals eager to navigate an AI-driven business environment. Tune in for an engaging conversation that marks International Management Accounting Day with forward-thinking dialogue and expert analysis on the Count Me In Podcast.

In this captivating episode of the Count Me In Podcast, we sit down with Timothy Wingate, EA, the knowledgeable founder and president of G+F Business & Financial Consulting LLC. Wingate unravels the tangled web of communications within finance and back office teams, especially within the construction sector. He shares indispensable strategies for leveraging technology to improve these crucial interactions and ensures financial information remains both accessible and secure.

Hear how real-time project management and meticulous bookkeeping are game-changers for cash flow and project success. Wingate, with his expertise, also discusses the art of building trust with clients, fostering an environment of truth and growth. Whether you’re navigating the financial underpinnings of your company or looking to streamline communication, this episode offers a treasure trove of insights for business professionals eager to drive their organizations forward.

If productivity puzzles have you stumped, tune in to an enlightening episode of the Count Me In Podcast with host Adam Larson and special guest, Nicolas Kopp, the entrepreneurial force behind Rillet. In this candid conversation, Nicolas unveils critical tips to streamline your workday, break free from the quagmire of meetings, and leverage cutting-edge tools to boost efficiency. Whether you're a business owner or a corporate team player, you'll discover strategies to cut through the clutter and optimize your operations. Nicolas's pragmatic approach, combined with actionable steps tailored for any work environment, will leave you equipped and enthused to transform your approach to productivity. Join us for a session brimming with insights from a tech leader's perspective, all here on Count Me In. Hit play and prepare for progress!

Explore the transformative power of AI in finance with Nicolas Boucher, founder of the AI Finance Club, in this captivating episode of the Count Me In Podcast. Host Adam Larson engages with Nicolas in a lively discussion on the integration of AI with financial practices, demonstrating how it simplifies processes and elevates efficiency.

Nicolas sheds light on practical AI applications, from automating data analysis to revolutionizing customer interactions, and he stresses the importance of upskilling for the digital age. Plus, get a glimpse into the collaborative learning experience offered by the AI Finance Club.

Perfect for finance professionals eager to embrace AI or those fascinated by the evolution of the sector, this episode is packed with actionable insights from a leading expert in the field. Tune in for a riveting conversation that will leave you inspired and ready for the AI era in finance.

Join Adam Larson on Count Me In for a riveting session with Chris Papin, owner of Papin CPA, as we explore the ins and outs of being a trusted advisor in the ever-evolving business world. Chris, who also brings a wealth of knowledge from the legal and insurance sectors, shares his first-hand experience on building trust with clients and making ethical decisions during times of uncertainty, such as the challenges presented by COVID-19.

Listen in as Chris provides actionable advice for small business owners, breaks down complex financial decisions with ease, and discusses the importance of clear, forward-thinking strategies. From the ethics of managing COVID loans to why saying 'no' to clients can be just as important as saying 'yes,' this episode is packed with golden nuggets of wisdom for anyone looking to navigate the professional landscape with honesty and strategic savvy.

In this exciting episode of Count Me In, host Adam Larson chats with two Vice Presidents at RGP, Ellen Class and Janis Parthun. RGP is a global consulting firm known for catalyzing swift business outcomes through transformative change. They share insider tips on transforming your financial close process from a marathon to a sprint and discuss the power of cutting-edge technology to streamline your operations.

Ellen Class will captivate you with her first-hand experience on enhancing efficiency and revealing the aftereffects, such as boosting work-life balance. Then, Janis Parthun, a maestro of project execution, layers in her expertise on leadership and strategy to paint a full picture of finance transformation.

Whether you’re looking to overhaul your department or just fine-tune it, this episode of Count Me In is brimming with high-impact strategies from RPG's top minds to recharge your financial operations. Tune in for a session full of actionable advice that could set your company on a course for success.

Ready for a breakthrough in your career journey? Join host Adam Larson on Count Me In for a riveting session with Linda Muneka, Vice President, Management Resources Practice Group, and Ai Ling Lee, Vice President Permanent Placement, both from the esteemed Robert Half. 

With Linda's and Ai Ling's rich backgrounds at Robert Half, they're here to share expert-level insights into the professional world. From fighting off imposter syndrome with a positive mindset to keeping a professional scrapbook of accomplishments—this chat has it covered. 

We're diving deep into personal branding—not just why it matters, but how to fine-tune it to your professional advancement. Linda and Ai Ling are pros at turning self-doubts into self-assurance—getting real about confidence and growth.

More than just tips and stories, today’s episode is brimming with strategies straight from the offices of career experts. You won't just listen; you'll engage with a conversation that could reshape the way you present yourself and your skills.

Press play and step into a session that's all about empowering your career narrative and shining in your next job interview.

Welcome to the Count Me In Podcast! Join host Adam Larson and special guest Donna Serdula, founder of Vision Board Media, a professional branding company, as they dive into the world of leveraging LinkedIn for finance and accounting professionals. In this episode, Donna shares valuable insights on making the most of your online presence and building meaningful connections in the finance industry. So grab a cup of coffee and join us for an engaging discussion on boosting your professional brand on LinkedIn!

Welcome to the Count Me In Podcast! In this episode, host Adam Larson invites Soufyan Hamid, a highly experienced finance professional with over 15 years in the industry. Soufyan is also the founder of SouFBP, a global consulting firm that helps finance professionals enhance their presentation delivery. Join Adam and Soufyan as they delve into Soufyan's remarkable journey in the accounting field, from working with top-tier firms to transitioning into corporate finance. They discuss the challenges of effective storytelling in the finance world and the importance of clear communication to effectively convey complex financial data. If you're eager to gain valuable insights into the world of finance and accounting, this episode is a must-listen!

Catch Soufyan live at IMA's European Accounting and Finance Conference in April 2024

Full Transcript:
 < Intro >

Adam:           Welcome back to Count Me In. Where we bring you compelling stories and insights from the world of accounting and finance. In today's episode, we have a fascinating conversation with Soufyan Hamid, an experienced accounting professional with over 15 years of corporate experience. As the founder of SouFBP, a global consulting firm, Soufyan's expertise lies in helping finance professionals, globally, master the delivery of their presentations by improving their preparation, messaging, and visuals.

Soufyan takes us on his remarkable journey, through the accounting field from his early days at a Big Four firm to becoming a finance business partner. We'll hear about practical strategies for becoming a more effective communicator, and how human skills are more vital than ever, in the age of automation. Let's get started.

< Music >

Soufyan, thank you so much for coming on the podcast today. We're really excited to have you. I thought we could start off our conversation by, maybe, you could tell us a little about your journey, in the accounting field, and what initially drew you to the profession?

Soufyan:       Well, it's quite easy because this is basically following the leads, that I started following in my studies in business, finance, and economics. And suddenly I realized that I liked the logic of accounting and the logic of finance. How precise it is, how organized it is to know the debits and the credits from one side. It has to be perfectly equal on both sides, so I liked the logic. And when you are in such an orientation, when you are in your studies, well, it goes quite easy because the Big Four are all over you, even before you end your studies.

And, so, in my last year, I directly signed a contract with PwC, and that's how my accounting career started, basically. And, so, I started as an auditor, working for PwC, and I did that during four years. And I liked that journey because it was an accelerated program, to understand better accounting without having to go through all specializations. You're easily brought into the whole picture, into the helicopter view of a P&L, for example, or a balance sheet.

And, so, I didn't have to go through all the transactions like bookkeeping AP, or AR, or cash, to finally become a general accountant. Thanks to that, after two years, I was already working on analytical reviews of the P&L, and working on the full balance sheet. So it was really a second university, I would say, and I love that.

But since I didn't want to become a public accountant for a living, and I didn't want to end up my career like that, I decided to move. And, at that moment, I was still considering myself as a rookie because you understand a lot of things when you work in audit, but you're still somehow in studies.

And, so, I wanted to face the reality of working in a company. But, obviously, at that time, I didn't have any experience working inside a company. So I decided to join Deloitte in temporary work department, with the business process solution department. And they offered us the possibility to work in accounting, but also controlling treasury, all finance fields, as a temp. Meaning that I had assignments of three months, six months, sometimes, one or two years.

And, so, I had the opportunity to continue learning how to work inside of finance department, under the umbrella of Deloitte. And that was really where I discovered what it was to work in finance. And this is also where I discovered my passion for controlling, FP&A, and finance business partnering.

Adam:           Mh-hmm, I think that's amazing. Because many accountants, whether they go the traditional route, starting at a Big Four like you, or they go right into corporate, right into the finance department, or the internal accounting team. They find themselves, eventually, getting to that point where they're looking at those finance, looking at the FP&A side of things, and being that business partner.

And what are some of the main challenges that you find when you get to that point? Or you've been doing all these things and you get to, "Hey, I'm going to be analyzing this complex data and trying to tell the story." When you're trying to convey these things to people, not even in finance. So you're no longer working with auditing teams or working with accounting teams. You're talking to people who don't understand how it all works. What are some of the biggest challenges that you find, when that happens?

Soufyan:       Well, I found these challenges when I started to work as internal for a company. Because when I left Deloitte, after five years, I decided to join a Belgian Telco company, as a finance business partner, and I was really good, technically.

Technically, I was really good. I was one of the few to master financial modeling. I was one of the few to master Excel, visual basics, Power Pivot, everything, that was, somehow, what made me successful at Deloitte. And I was kind of happy, and in finance, everybody was happy because I developed dashboards, I helped them automate many things.

But when I had to compare how I was welcomed by non-finance people, it's another story. Because I was so convinced that my success would go through the technical stuff, that I completely missed the fact that I was working with people, not mastering the same things as me. And I was there, telling them about the many exceptions you found in the data about I don't know which IFRS rule that made an exception to their figures. Another [Inaudible 00:06:05] that I had to reverse this month because it was too old to be there.

And, so, I had a difficult time having a real partnership with them. And since I was supposed to be a finance business partner, that made it tough. So I thought I was right, and I just understood that when you're working inside a company, and that you leave the world of PwC, of Deloitte, of one of the Big Four, and even one of the consulting firms, you don't have that shield.

You don't have that umbrella anymore, to protect you, and to give you the credibility, you need to convince people. So you have to work on your communication, you have to work on those ...

Welcome to the Count Me In Podcast, where we bring you conversations with top industry professionals and thought leaders. In this episode, host Adam Larson sits down with Jonathan Smalley, Co-Founder at Proxymity, for a deep dive into shareholder engagement in the corporate world. They discuss the critical importance of strengthening shareholder engagement, the impact on investor relations, and the ongoing digital transformation of proxy voting. If you want to gain insider insights and valuable advice from industry experts, you've come to the right place. Tune in to hear their engaging discussion on the future of shareholder communication and the evolving landscape of corporate governance.

Episode Transcript:
< Intro >

Adam:           Welcome to Count Me In. I'm your host, Adam Larson, and in today's episode, we're diving into the world of shareholder engagement with Jonathan Smalley, co-founder at Proximity. We'll uncover why strengthening shareholder engagement is more crucial than ever, and why it's imperative for navigating the upcoming political landscape. From climate change to the rising influence of retail shareholders.

We'll explore the global factors impacting shareholder engagement, and the shift towards digitalizing proxy voting. Jonathan shares valuable insights on bridging the gap in shareholder communication, and the potential benefits for organizations. Get ready to gain a deeper understanding of the challenges and opportunities, in shareholder engagement.

< Music >

Adam:           Well, Jonathan, I'm really excited to have you on the podcast today. And we're going to be talking about shareholder engagement, which is something not everybody touches, necessarily, but it's a very important part of your organization. Especially if you have a board or shareholders, if you're a public company.

And, so, what makes strengthening shareholder engagement more critical, now than ever, for smoother investor relations. Especially as we're going into 2024 here, as we're recording at the end of 2023. What makes that so important, right now?

Jonathan:       Firstly, thanks for having me, Adam. Yes, I'd say it's more critical than ever, but I'd say it's been critical for quite a long time. But when we look at what's behind us and what's ahead, there are some really big global factors that are not going away. That are continuing to heat things up, I feel like.

I think as we head into 2024, also, it's the biggest political election year, globally, ever. Big elections in the U.S., India, South Korea, Mexico, likely to be one in the United Kingdom. And a lot of the factors, actually, that are going to impact political elections are going to be considerations when people go to the ballot box, are actually also transferable to the boardroom, or to the annual general meeting hall.

Things like climate change is not going to surprise people, but that is something that is extremely topical and is a key part of issuer-shareholder engagement. Just this year, both inside the U.S. and outside, more shareholders' climate proposals than last year.

And there are groups that cite that as financially material to their investment decisions now. And not just people on the street, but powerful, influential, institutional investor groups have got together and made that determination. And they're not just asking issuers and, obviously, the regulators are also calling for disclosures. It's also their service providers that are asking to do more.

They want net zero policies. They want better climate integration into things like voting policies. And another one that's been heating things up for a long time now is Say-on-Pay. 94% now of S&P 1500 companies have a say on pay vote every single year. Ten years ago that would have been about 50%, so it's a big increase. And, I think, this year they, against recommendations from the leading two vote, advisors went down, but less against recommendations. But those resolutions got less support this year than last year.

So that makes those contests quite frequent. And, then, I think, kind of linked to the climate change thing. You've got ESG versus increasing anti ESG, pretty polarized, and I think that's also something. As I sort of mentioned before, is going to also play out in political elections as well, not just in company elections. 

And then I'd say that the big kicker to all of that is that we're just seeing year on year more votes, particularly, more votes from retail shareholders. Institutional shareholder voting has been quite high for a number of years now because of active ownership, because of stewardship codes, because of regulation.

Retail, as a rule of thumb, has always been 20, 25% maybe in a contest a little bit higher than that. So there's clearly much more room for that to go into. And we've got some brokers going, "We're getting 30% a year on year increase." Some retail shared voting, and that's coming at a time where we're going through millennials and Gen Z's inheriting anywhere between $68 to $84 billion. And millennials, at the moment, are the most likely generational group to vote.

So big issues against the backdrop of a great wealth transfer heading into a year that is going to be, probably, more politically charged than any we've seen across all the democratic countries, in the world, that are going to go to the polls. So I think engaging shareholders and having an efficient way for companies and shareholders to communicate back and forth is going to be more important than ever before, just because there's so much more coming. And I think we'll get on to maybe the technology a little bit later.

But if you look at the legacy ecosystem about the way companies and shareholders communicate, we urgently need to upgrade that to deal with this. Because it's a good thing for companies and shareholders to communicate back and forth. We should be allowing it efficiently and digitally. And if we don't, and we're not ready for what's coming, then, there's going to be more negative headlines, I think, for companies to be worried about. As those general meetings debate and have voted on very important decisions for the company.

Adam:           Yes, it's great how you outline all the different political factors. All the things happening around the world, that are causing more and more shareholders to become more engaged. And before we get to the technology piece, maybe, you could elaborate a little more about the importance of that communication between shareholders, in the organization. How it can impact a company's overall performance and even reputation?

Jonathan:       Yes, I mean, starting with the reputational piece, it's probably easier to talk about the downside, sometimes, because, then, that's the thing that creates headlines. It creates headlines when results are challenged. When there's uncertainty about the results. And we saw a fairly infamous case a few years ago at the P&G's meeting, votes counted three times and it was a different result every time. And you're like, "How could that be?"

And that was very expensive, both for the company, it w...

Welcome to Count Me In! Join host Adam Larson and special guest Rick Watson, CEO of Protection Point Advisor, founder of the National Referral Network and author of A Firm Worth Building. They dive into inspiring stories and insights on leadership, company culture, and business success. Get ready for engaging conversations and valuable business wisdom from industry experts like Rick, who shares his journey and expertise in changing company culture. Embrace the CEO mindset and gain powerful leadership tips with Count Me In!

Full Transcript:
< Intro >

Adam:           Welcome back to Count Me In. I'm your host, Adam Larson, and today's episode is all about company culture. Our guest, Rick Watson, CEO of Protection Point Advisors, founder of the National Referral Network, and an author, is a seasoned leader with a wealth of experiences.

He discusses his journey from working with a large corporation to starting his own firm, and the challenges he faced along the way. We explore concepts like trust compression, the importance of storytelling, and edification and empowering a team. With practical examples and real-world experiences, Rick provides valuable strategies, for creating a purpose-driven, successful organization. Get ready to be inspired and motivated, as we dive into the power of culture and leadership in this insightful, engaging, conversation with Rick Watson.

< Music >

Rick, I'm very excited to have you on the Count Me In podcast, and excited to be talking about leadership, and just some of your journey, as well, and what you've learned along the way. And, maybe, we can start off by what inspired you to start your own firm? It's not an easy task to do that. It's not something that people can do lightly. How did you assess your readiness for this entrepreneurial journey?

Rick:               It's funny. I, actually, wanted to be tested. I wanted to be weighed and measured, that was true. And there was a point where I was working for a corporation, every year they would adjust my sales territory, and that drove me nutty. And, so, I would do well, and they would restrict it, if I didn't do as well, they'd increase it. It was really weird. They knew what they wanted to pay me.

So I didn't start going down that road of starting my own firm. But I was happy to work with somebody else, I guess, is what I'm trying to say. I worked with a partner for a long time, and I liked playing second fiddle because, then, I didn't have to have all the attention on me. I could actually just do the work. And there was a point where that partnership fell apart and I had to step up. And I really like being in charge today, I like being the CEO. But it was a transition that took a few years to get there.

Adam:           I can only imagine the transition, especially, if you've always been a company person. You've always not have to make all the decisions. There's a lot of weight that comes with having to make the top-level decision, the top-level strategy. How did you handle adjusting to that weight?

Rick:               Yes, it's funny that you say that. So I always think of someone will be talking about their kid's school, and now their kid just graduated from whatever, and I'm paying for that. Well, I know that in the end analysis, it's our efforts, my decisions, that make that go badly or go well. And you're right, it's an absolute amount of weight all the time.

On the other hand, I like taking care of people. And, so, you do that at home, you take care of your family. And, yes, I suppose it's more weight, it's more responsibility, those people depend on you. And, so, I just have a really big family, it seems like, anymore.

Adam:           Yes, I like that. Seeing them as your family because it's no longer just numbers or people who work for you or say, "Oh, I have this many people." It's like, "No, that person has a name. They have a family themselves, they have a life, as opposed, to just looking at the bottom line."

Rick:               Yes, I think that there is a management school of thought that says that's a bad idea. I disagree. I think that loyalty and culture is part of a company, and that you don't have to turn over people all the time… I just think that there's a school of thought that you can turn over people, and I think that if you don't turn over people, they're so much more profitable. It's a good business decision to hold on to people, and part of that is to build culture and relationships with them.

Adam:           No, that's great, and when you mentioned things like loyalty, it makes me think of trust. And one of the concepts you mentioned in your book, A Firm Worth Building, is trust compression. And when people hear that, they're like, "What does that mean? I don't get it." Unless they've read your book, they may not understand it. So I was thinking maybe you could talk about what trust compression is, and how important it is in leadership.

Rick:               The trust compression it's kind of funny, it's something that we bumped into. It wasn't on purpose. I think that there should be a university study about that. But, effectively, what happens is that people, humans, don't make decisions about how much they trust somebody based on the length of their interactions. It's based on the number of interactions.

And, so, doing those appointments, we were doing appointments, in my industry, the typical appointment goes for 60 to 90 minutes. You do two of those, an opening appointment and a closing appointment. It turns out that if you break that into four appointments, at 15 to 20 minutes apiece, which is way more efficient. Trust that you'll build in that relationship is so much more significant.

And, so, what I'm telling businesses that we work with is that it's a really good idea. If you can break your process up into smaller, bite-sized bits, the people will remember more, and your relationship will be older in a shorter amount of time. It's pretty cool.

Adam:           That does sound pretty cool. One thing that I tried doing was setting my default, in Outlook, to 25 minutes and 50 minutes. Never doing a full hour and never doing a half hour. Because I felt like we would go up until that time, gave ourselves no time for break, but, then, also we'd spend too much time doing other things. How do you still get as so much accomplished by breaking those meetings up? How does that, positively, impact the conversation?

Rick:               Each one of those conversations is, in a sense, scripted, we know where we're at. I think that so much of business conversations are wasted energy. They do the relating, which we would call relating, I talk about it in the book. Which is that first part of like, "Oh, how was...

Join host Adam Larson as he sits down with distinguished guest Norman Strauss in the latest episode of the Count Me In. Listen as they share engaging stories and insights from Strauss's 60-year career in accounting. From the challenges of embracing technological changes to his pivotal role in standard-setting committees, Strauss reveals the highs and lows of a lifelong journey in the accounting profession. It's a candid and valuable conversation that you won't want to miss!

Full Episode Transcript:
< Intro >

Adam:           Today we have a special episode of Count Me In called IMA Life. We're going to start talking to different management accountants, from IMA, and hear their journey. Today we sat down with Norman Strauss, a veteran in the accounting profession, with over 60 years of experience. We chat about Norm's beginnings. Sharing stories from his early days in accounting. Navigating the challenges posed by technological advancements, and the significant role mentors have played in his career.

Norm provides insights in his involvement with various committees, and sheds light on the complex process of setting accounting standards. With a dash of humor and a plethora of wisdom, Norm shares valuable insights in his impressive journey. So tune in, for an episode brimming with decades of experience and invaluable insights.

< Music >

Adam:           Well, Norm, I'm really excited to have you on the podcast, on our new IMA Life series, and you've had quite the career. And could you start, maybe, by sharing a memorable story of your early days, in your career. Maybe some challenges that you had, as you just got started in accounting?

Norman:       Well, thanks for having me, and it has been a long career. I was 36 years with the Financial Reporting Committee, of the IMA, and I also was in public accounting for many years. And if you add it all up, it's about 60 years' worth of doing things in the accounting profession, which I've always felt is a tremendous profession. And I think there's lots and lots of opportunities for people that are getting into accounting. 

You start at a beginning position. You work your way up, if you keep working hard, you get challenges throughout your whole career and tremendous opportunities to continue with dancing. So I'm very pleased that I went into accounting, even though it's a long time ago. And I've finally gotten to the end of my career with the Financial Reporting Committee, after those 36 years. So it is nice to keep going, and it's a pleasure to be here today with you.

Adam:           Well, I can imagine just the things you've seen in a 60-year career. That's some people's lifetimes and more than their lifetimes. And just thinking about everything you've seen, how do you think accountants are handling the changes? Because in the last ten years alone, the amount of technology changes that have happened across the world, the industries, has just been remarkable. And I'm sure the first part of your career, the technology was changing but not as rapidly as it's happening today.

Norman:       It is a real challenge for people in the field, now. In my day, we didn't have computers; and it was nice, and slow, and worksheets, and you did everything in pencil. And now with all the technology, it's a terrific opportunity to get involved with all of these different things. So depending upon where you're working, hopefully, as you're moving along in your career path, the company that you're in will give you a lot of background, but a lot of training, and a lot of people that you'll be able to learn these things from. And that's one good thing about the profession, it's not stagnant. You have these changes. So there's always something new, and always something that's interesting that's happening 

Now, I go all the way back in the beginning, and one thing I always felt that helped my career was luck. It was always nice when good things happened to you. So I started at Baruch College and I was going for my master's degree, and I took a course on contemporary accounting topics, with a professor by the name of Abraham Briloff, and I'd never heard of him before. But as it turns out, I found out that he's one of the most famous professors, at the time, and he was a tremendous critic of the accounting profession.

So I went into the first day of class and he said, who am I? And I said, "I'm Norman Strauss."

And he said, "You go sit in the front row," rather, and that's where he pointed. But I didn't want to sit in the front row. So when he wasn't looking, I went all the way to the back of the classroom. And then he started talking, and I'd never heard a professor like this before. I mean he was using big words, complicated accounting theories that he's imposing on everybody. He was even so interesting that he was making quotes to accounting in the Bible, which was not easy to do.

So I was amazed, and he was really critical of the accounting profession. And, all of a sudden, the student who was sitting where I was supposed to sit, up front said, "Professor Briloff, I have to object to your criticism of the accounting profession." And then this young fella articulately explained why the accounting profession is really good, and basically disagreed with the discussion that he was giving us.

So Professor Briloff said, "That was a wonderful explanation, Strauss." So he thought that I was still upfront, that he had my name mixed up. And the next week I got there very early and I sat in that seat, and it worked out very nicely. The rest of the semester he kept smiling at me, so that's kind of luck.

But then getting into public accounting, when you start at the very beginning, in the old days, you had the interesting title of a junior accountant. And that, of course, was not particularly complementary.

But after a while, if you worked hard, you became what was then called a semi senior accountant, which was even worse, and eventually you made senior accountant. And I remember in those days, when I started as a junior accountant, you really had to worry that you'd get fired after the busy season. I know cycles come and go. Now, we read a lot about firms letting go off people, but that's the nature of the profession. Everybody needs accountants in business, and therefore the opportunities are unlimited.

So, anyway, I was worrying about getting let go right after the tax season. And I confided with a semi senior, who I was reporting to, and, to me, he was so smart, he knew everything. And I told him, "I'm really worried that I think I'm going to be let go."

And he said, "Norm, don't worry, you're really doing fine."

And then the next day, I went to work and I found out that he got fired. So that was an interesting challenge. But if you keep doing your thing, learning from the people that you work with, you could keep advancing up the ladder.

Adam:           I think that's some great advice. As I've read about your story and chatted with you, mentors have held an important part of your career. Maybe you can talk a little bit about the different mentors you've had and how they've helped you move alo...

Welcome to the Count Me In Podcast! Join host Adam Larson as he chats with the insightful Yerbol Orynbayev, a seasoned leader with a wealth of experience in both the public and private sectors. Yerbol shares compelling stories and lessons from his remarkable career, including his tenure as the deputy prime minister of Kazakhstan and his pivotal role in restructuring a major bank. His candid insights and practical advice are sure to inspire aspiring leaders and entrepreneurs. Tune in for an engaging conversation packed with real-world insights and takeaways!

Full Episode Transcript:
< Intro >

Adam:           Welcome back to Count Me In. In this episode, we have the privilege of interviewing Yerbol Orynbayev. Who shares his extraordinary leadership journey, and the impactful lessons he's learned. Yerbol's experiences range from serving as Deputy Prime Minister of Kazakhstan, to transforming the Jusan Bank from near bankruptcy to achieving $1.2 billion in profit.

Throughout the episode, Yerbol sheds light on the crucial decisions and strategies that were pivotal in leading the bank to success. His insightful advice on leadership, vision, investing in people, and embracing failures provides valuable lessons for aspiring leaders. Join us as Yerbol shares his invaluable wisdom and experiences, on navigating crisis and driving change.

< Music >

Yerbol, we're really excited to have you on the podcast. I'm just really excited to chat with you, about your leadership journey and the different paths you've taken, and you've had quite the leadership journey. What drew you to the different positions that you've taken, and what are some of the lessons you've learned along the way?

Yerbol:           Adam, first of all, thank you very much for this opportunity to share my experience about Jusan Bank story, with you, with your program. I worked for the government of Kazakhstan for quite a long time. I resigned in 2015. Before that time, before my resignation, I served as the deputy prime minister and handled economic and then social responsibilities. And, so, in 2018, when I was already with the private sector, working on my own business. I received an invitation from the university, which asked me to help them to set up the investment division of the endowment fund.

So it was a very exciting proposal. I believe they decided to focus on me and then send this invitation to me because during my time with the government, I served as a board member of the National Bank of Kazakhstan. The board member of the Agency for Supervision of the financial organizations. I also, successfully, set up a western-type university in Kazakhstan. So a lot of people knew me very well. So they said, "Okay, why not, after one successful story, one successful project, let's offer him this opportunity."

So in 2018, I started this journey, the Jusan Bank with other banks, and I had this great opportunity to create the investment division of the endowment fund. So that's how I started this particular journey with the Jusan Bank, with its restructuring, creating a new business model based on the ecosystem.

In terms of the lessons, actually, it was very interesting and enriching experience. I learned very valuable lessons. One of them is that you should really understand your business, and then your customers. And, then, currently, there is a great shift, all over the world, in terms of the customers' behavior. New technologies like AI, digitalization, increased computational capacities, and also the new generation of customers, they have completely different preferences. So these two trends kind of changed the whole landscape. 

So you have to understand your clients, you have to understand your business within/out, know your customers. Because if you don't know you cannot lead, and you cannot restructure or do some right things without this really deep knowledge and understanding the main foundations of your business. 

The second lesson I would say that, dream big. What I learned, in reality, with great vision, with the right team, with the right strategy, with the right implementation plan, you can achieve a lot. So dreaming big it's very important. 

The third lesson I would say that always have an exit strategy, especially when you're dealing with the big structures. Together, the whole system, I managed about 10,000 employees. So this is quite big, the price of the mistake could be very high, but you cannot stop development. You have to still innovate. You still should align your business, product, services, in line with the current demands.

So you should innovate, you should do something new, but exit strategy is very important. This is your hedge, that makes sure that the whole structure won't collapse if something goes wrong, this is very important. 

Trust your team, I think team is very important. The quality of the people you are working with, their professionalism, their ethics are very important. So as soon as you set up your team, you know that you can trust your people, just let them perform. And in the banking sector, this is more important than even others because teamwork is incredible, this is very important.

I didn't see a person who can just, in one phase, cover all requirements of the banking. You need a strong CFO, you need a strong risk manager, you need a strong chief information officer, so you see this is very complex. Then you can, together, compile the team, or the professionals, who can work together, who can share the same vision, who has very good ethics, only with this one you can proceed.

So this is a very important lesson. If you are unsure about your team, don't start. Because alone you cannot perform, you cannot achieve. So I would say these are very important lessons I learned from my journey with Jusan.

Adam:           I think those are some amazing lessons. And maybe as we have this conversation, we'll be able to see how you came to those lessons at Jusan, as we talk through that journey. So when you first stepped into that challenge, they said, "Hey, we want to bring you on the Jusan Bank." What was the atmosphere like? What were some of the challenges and the immediate hurdles that you saw that you had to jump over, as you started that new part of your journey?

Yerbol:           This, actually, was very interesting. So when I took the reins of the bank, the situation was pretty horrible. So I had a feeling like starring into the beast. I just give you one example. The bank's auditors, KPMG, they came to us, after we purchased the bank, and then told us that they won't be able produce any audit report.

They said, "We have access to the accounts, but the accounts are a mess, documentation is such a mess, so we just even cannot interpret them." And the bank did not have people who can interpret and work on this one. So can you imagine?

So 2018, the year they audited, was completely a failure, and according to the regulation you still proceed because the public, the regulator, would like to know. So this is one of the example how the bank was managed. Also in terms of the business and the morale of the employees, it was a complete mess. Two year...

Join Adam Larson on the Count Me In Podcast as he sits down with the insightful Ahmed Hassan to explore how financial leadership has shot into a new era. Ahmed, an esteemed finance executive and IMA Global board member, shares how the roles in finance have shifted from traditional number-crunching to proactive, strategic business partnering.

Listen in as they discuss the impact of digital tech, COVID-19, and sustainability on financial strategies, the importance of people skills, and the rise of data analytics in decision-making. Ahmed backs up the talk with his journey in embracing change, leveraging automation for insightful analysis, and his advocacy for continuous learning through the IMA.

This episode offers a treasure trove of knowledge for finance professionals looking to adapt to the evolving demands of the industry. If you're curious about the future of financial strategy or keen on understanding the shifting focus in finance, this conversation is your must-listen. So sit back, tune in, and get inspired to take on the financial world with a fresh, informed perspective!

Full Episode Transcript:
 < Intro >

Adam:           Hello, and welcome to Count Me In. I'm Adam Larson, and today I'm joined by a distinguished guest, Ahmed Hassan, Head of Decision Support at Vodafone, Global Board Director & Middle East Committee Chair at IMA. In this episode, we'll dive into how financial leaders are expanding their influence beyond traditional roles, and embracing strategic, data-driven decision-making amidst global changes and technological advancements.

Staying ahead of the curve and fostering continuous learning have been key to navigating the landscape of finance. A world now permeated by AI, automation, and the need for dynamic skill sets. So, without further ado, let's welcome Ahmed, to share his valuable insights with us here on Count Me In.

 < Music >

Ahmed, thank you so much for coming on the podcast. We're really excited to have you today, talking about FP&A, and the roles, and your experience. And to start off, I thought we could start with how has the role of financial leadership evolved, as you look over the past decades. And what are the driving forces behind those changes, in the financial leadership?

Ahmed:         So, thank you, Adam. First of all, thank you for having me today. I'm very looking forward for a very engaging and exciting discussion, so thank you for that. Thank you for the question to start with, this is a very in-time question. So as the finance roles are evoluting, and it's not only on the last decade. So I think finance roles are evoluting since almost 20 years, as we speak. So it's undergoing significant changes that is taking place in the finance role as we speak. 

This is turning the finance function from the one responsible for financial reporting, and forecasting, and the normal finance roles that used to be. To the one co-driving organizations to achieve their goals and targets. So, currently, finance leaders spend more than 50% of their time on value-adding, business partnering activities. Rather than a typical finance department role and what they used to do, a few years ago.

So now we give more focus on casting a wider net for new efficiency opportunities, as we go. Boosting finance roles in managing data, strengthening decision-making process, through widespread adoption of data visualization and data analytics.

So this is how we look into how we use that data that we have, as we speak. It's mainly for putting a very solid ground into the decision-making and driving business, as we go. And the role of finance leadership is evoluting as well as this is evoluting. So the finance leadership has been influenced by several global forces, as we speak.

So definitely with all what happened in the past few years, in terms of COVID, where we will touch base a lot on the impact of COVID and how this evoluted. The overall changes that took place in organizations and then zooming into finance in specific. And also all the changes that is taking place in the world, either from a geopolitical viewpoint, economical, and all other changes.

So there are several global forces that are impacting the finance role evolution, including the growth of digital technologies. All the changes that I just mentioned. The importance of sustainability, changing demographics, complexities that are taking place in the geopolitics, as I mentioned, and all the dependencies that are making transformation or structural transformation a must, during these times.

All these forces actually led to all the evolution that is taking place in the finance role and in the finance leadership role, as a result, as well. So this all led to a greater focus on collaboration and people-oriented leadership. As well as the need for managers to take important decisions, with input from their teams based on a very robust data analytics that is generated from the finance functions.

Adam:           I think that's a really good overview in the evolution of the finance leadership, and how the team is changing as the environment changes. And when you think about the environment changing, and the term a lot of people use is business partner. And, so, in order to do that transformation that you just talked about, you have to become that business partner.

And, so, are there key strategies that people should consider when they're trying to, "Hey, I want to become that business partner. I don't think I'm there, yet." What are some strategies that they can apply in their own roles, so that they can make sure they're becoming that? 

Ahmed:         Okay, so transitioning, which comes also as a result of what we mentioned, the evolution that took place in finance. So finance, as we speak, in different roles, are business partners. And this is not only in a function that is named business partner or decision support in finance. I think this is across all finance roles. So this will take place in FP&A, as an evolution of the role.

Definitely in all decision support roles and finance business partnering roles, in different areas of finance operations, treasury, tax, supply chain. So this is all different types of business partnering in finance. If we need to focus on what are the key skills or developments, that a finance guy should adopt to be a business partner. We can start focusing on some points. So building a strategic engagement with the business. So this is a key thing that has to take place in a finance role.

Building strong relationships with all stakeholders, is fundamental to effective engagement with different business functions. Spending time to know your stakeholders, understanding their priorities, and be ready to challenge points they may not have considered, or maybe it's not a focal point for them. While actually it's something risky that you need to highlight.

Ensuring that analysis and reporting provided is aligning to the key strategic directions that the stakeholders need to see, and not only what is accessible and meaningful to finance specific. So it's that perfect merge between finance and all the other business requirements ...

Join host Adam Larson and special guest Connie Siu, President of CDC Synectics Inc and an author, as they unpack the complexities of building a data-driven culture in the business world. Tune in to this episode to discover the essential characteristics and challenges of fostering a data-driven environment within an organization. Adam and Connie provide valuable insights and practical advice on overcoming obstacles, assessing effectiveness, and turning data into informed decisions. Get ready to explore how a data-driven culture can revolutionize your approach to business!

Full Episode Transcript:
 < Intro> 

Adam:           Welcome to another insightful episode of Count Me In. Today, we're delving into the topic of building a data-driven culture with our esteemed guest, Connie Siu, President of CDC Synectics Incorporated, and an accomplished author. Join us, as Connie shares her expertise on essential elements of data-driven culture within an organization, and the significant impact it has on today's business environment.

Stay tuned, as we explore key challenges faced during the transition, and gain valuable insights on assessing the effectiveness of a data-driven culture. This episode promises to offer valuable insights, into the power of data-driven decision-making in shaping organizational cultures and driving business success. Let's get started.

< Music >

Well, Connie, we want to thank you so much for coming back on the Count Me In podcast. And, today, we're going to be talking about data-driven culture and what that means. And, so, maybe, we can start off, you can elaborate what constitutes having a data-driven culture within an organization, and why is it essential, especially, in business today?

Connie:           That's a great start, Adam. Data-driven culture is the consistent values and beliefs in distilling insights from data to drive informed decision making, and that's happening across the whole organization. And I would offer three characteristics that you can look for, in an organization, where there's a data-driven culture. The first one is you will see individuals and teams actively asking themselves questions like, "What information we can draw on to support and guide decisions."

You will see consistent efforts devoted to pull relevant data to analyze an issue. And you will see open and frank dialogues on understanding the root cause of a problem by looking closely at KPIs.

In terms of why it is essential for businesses today, there are four factors, two external and two internal, that are important to bear in mind. The first external factor is the competitive marketplace. Companies need focused strategies to target the right markets, to differentiate themselves to compete, and they need the market intelligence to develop focused strategies.

The second external factor is digital transformation. The ability to adopt the right technologies to drive business outcomes is critical. Successful digital transformation involves using technology to capture relevant data and analyze the results. To automate processes, for instance, companies need to know what data is important and what's not.

The internal factors: The first one is operational efficiency. Businesses need to be efficient today, and we are aware that costs are going up, labor, materials. And with the current inflation, companies need to have a good handle on the numbers.

The second internal factor is the need to treat data as a strategic asset. Every business has tons of data. Imagine if you can mine the data for intelligence, they will uncover lots of opportunities to make all kinds of improvements, such as targeting high-margin niche markets. So these four factors require an appreciation of making smart choices from data analytics. It is more important than ever, to build a data-driven culture.

Adam:           Yes, I think those are some great factors to take into consideration, especially, if you recognize that your organization doesn't have that data-driven culture. Maybe we can talk about some key challenges that organizations face when they're trying to transition to that. Because it's not something that happens overnight, something that you can turn a switch and say, "Hey, we're a data-driven culture." It's something that builds over time, I'm sure.

Connie:           Yes, there are two key challenges I'd like to share. The first one is the lack of technical capabilities. And when I say technical capabilities, they include the skills to identify what data, or KPIs, are relevant to look at. They include skills to analyze the numbers. For instance, how do you know you have achieved efficiency improvement?

What would you look at to monitor process performance?

Do you want to look at the results on a weekly basis or it makes better sense to compare month-over-month changes? And there are many data points you can look at, but not all of them are relevant.

Once you have the data, you need the tools to capture, compile, and analyze them. And many companies are still using legacy systems that are not integrated. So it is a tedious and often very frustrating exercise to extract the data.

And to overcome that lack of technical capabilities, start with training. Training the fundamental skills on asking good questions to identify what data do we need to look at. Training on the skills to analyze an issue. And I would suggest training everyone from the executives to people working on the front line.

We don't need to train everyone to be a data scientist, but we do need them to have the basic skills to ask good questions. To understand what they need to look at, and become good problem solvers. And in terms of the legacy systems, there's only so much you can do patching them. Eventually, you need to invest in modern technologies, and there are so many options out there today, and there's no need, and I want to emphasize this, it's not necessary to invest in the most comprehensive ERP. The key is to find the right applications that meet your business needs.

Now, the second challenge I'd like to talk about is the lack of buy-in. When you don't have the support of the senior management team and the middle managers, it is very difficult to make that shift.

Now, middle managers are accountable for the team's performance. So that fear of poor results is natural because they reflect on their leadership skills, and no one wants to look bad.

When middle managers shy away from results reporting, they tend to do the minimal, just what is needed. Essentially they create an alignment where there's little incentive for the team to embrace analytics.

Now, when we look at the senior management team, when there's no buy-in, from them, on analytics, you tend to see an authoritative management style. Top-down decisions will become directives for the teams to execute. And in this situation, the efforts made on analytics are not valued at all.

To overcome the lack of support, start with understanding what the dynamics is today and find your champion. That champion could ...

Tune in to listen to Adam Larson as he hosts the Count Me In Podcast, featuring a special conversation with Adam Lean, the CEO and Co-Founder of TheCFOProject.com. Lean shares expert insights on transforming the role of the traditional CFO, offering practical advice and real-life success stories. Don't miss this insider's look into the future of the accounting profession!

Full Episode Transcript:
 < Intro >

Adam:           Greetings, accounting professionals. Adam Larson here, host of Count Me In, and today we embark on a transformative journey with Adam Lean, the visionary CEO of TheCFOProject.com.

Prepare to break free from the shackles of the accountants' trap. A pervasive challenge that confines so many to a transactional purgatory. In this conversation, Adam unveils a potent cocktail of liberation, strategic transformation, technology-driven empowerment, and high-value service mastery. So join us on this first podcast of 2024, and together, let's rewrite the future of accounting, one empowered professional at a time.

< Music >

Well, Adam, we're really excited to have you on the Count Me In podcast. And you are the leader at The CFO Project, and you have a podcast called the Accountants Trap, and you mention that a lot. Maybe you can start by defining what is the accountants' trap, and why is it a challenge for many firm owners today?

Adam Lean:   Yes, that's a great question. We have this saying here at The CFO Project, we want accountants to escape what we call the accountants' trap. The idea is that accountants, and when I say accountants I mean accountants, CPAs, bookkeepers, enrolled agents. Traditionally, accountants are trading time for money. In order to make more money they either have to work more hours, which there's, obviously, not many more hours you can work, or you have to take on more clients. 

Well, the thought of taking more clients on, in order to make more money is depressing to a lot of accountants. Because most clients are high-demanding, low-paying clients, and they give you all their paperwork at the very last minute, and the idea of taking on more clients is not appealing to most people. And it's a trap because you can't raise your prices. You can't raise your prices because there's always another accountant that's willing to do it cheaper than you.

And if you think about it from the viewpoint of your client, and we have to always think about it from the viewpoint of our clients. On the laundry list of things that a business owner has to think about, during the day, accounting falls towards the bottom.

They think of accounting as a commodity, in a sense. It's like a gas station; you're driving down the road and there are two gas stations next to each other, one is $0.50 higher. Most people are probably not going to go to that gas station because they view fuel as a commodity, it's interchangeable. And the same thing with accounting and bookkeeping services.

What you do, A, they really don't understand, and, B, they feel that any accountant can do it. Any accountant could put the tax return together. Any accountant can do the books. So why would they pay you more, significantly more, than the average accountant? They wouldn't.

And, so, this is the trap; to make more money you're forced to work more hours for little pay, with high-demanding clients. And, so, we suggest that there's a better way.

Adam:           I would hope so because, that would be really frustrating as time goes on, and to have to get more clients. And if you're an internal accountant, within a corporation, you have to help all the different operations of the business to get everything together, do the budget, and that can bring a different type of accountants' trap challenge.

Adam Lean:   Yes, absolutely, your candle is burning at both ends, and there's no give.

Adam:           Yes, there's no give at all. So how important is it? Because, like you said, a lot of times for owners, they don't understand the importance of the accountant. How do you change that role for the business owner, if you are the CFO, if you're the controller, you're within the organization, and you're trying to say, "Hey, this is an important part." How do you help change that view, at the top of the organization?

Adam Lean:   Yes, this is the frustrating part because accountants are very valuable, they're needed. But the people that use accountants; so the company you work for or your client, if you have a business, and if you work for clients, they don't view it that way. Which, again, goes to what I was talking about with the accountants' trap. They don't view what you do as important as they should. Having great books is important, it's needed. And what you do to ensure that the books are kept accurately and timely, and the taxes are filed, is very important. 

But until your client, whether it's your boss or whether it's your actual clients, business owner clients, until they view you and your work as highly valuable, they're not going to pay for that. So the idea is to shift in your client's mind, in your constituent's mind, your value.

So instead of being thought of as the person that just keeps the books or that just does the taxes. Because you have to remember that your client doesn't really understand what you do. You know what you do, and so you know all the effort and time and energy you pour into it, but they don't. So they're not going to place the value on it as much. 

But if they can wrap their mind around your value, then, they will find you more valuable. Which means they'll pay you more and you can escape the trap. So the idea is to be the financial professional, in your client's life, that they actually want. And what is it that most business owners want? They want someone that they can trust, to tell them what to do to have a growing and successful business.

So if you, as the accountant, can be that person that a client trusts to tell them what to do. To give advice on something that they really care about, which is their business, then, your stock with them will go dramatically up.

They'll pay you as much as you command, as much as you want, and they will not think of you as just the person that records the books or just this commoditized, necessary evil that I've got to pay. And they'll start to view you as somebody that's a trusted confidant, an advisor, somebody they want to talk to every month.

Adam:           Yes, that advisor, the term that we use a lot is that business partner. You want to be that business partner, not just the number cruncher.

Adam Lean:   That's right. You'll still provide the same value, that in your mind they need, which is accurate books, taxes. But you're going to shift the value in your client's mind. Which, I mean, let's be honest, it's really the only thing that matters is your client perception of you. That's what's going to pay the bills. If you...

Tune in to the latest episode Count Me In, where host Adam Larson brings you an engaging conversation with some of finance's leading voices in India. We're thrilled to feature Sunil Deshmukh, IMA’s Chair Elect boasting over three decades of global business management expertise, and the astute Sandhya Sriram, Group CFO of Narayana Health, renowned as one of India's Top 100 Women in Finance. 

In this episode, Sunil shares his distinctive perspective on sustainable finance’s competitive edges, such as improved global market access and cost of capital benefits. Sandhya, on the other hand, offers a deep dive into the real-world applications of ESG strategies within large organizations, while addressing the intricate issues surrounding ESG disclosure transparency.

With this powerhouse duo, you're privy to a rich discussion that spans everything from the transformative ESG initiatives at Narayana Health to the visionary roadmap laid out for sustainable finance under India's G20 presidency.

Don’t just listen, be part of this enlightening session. Whether you're a CFO grappling with ESG strategy, or simply intrigued by the evolution of sustainable business practices, this is an unmissable dialogue loaded with experience and insight. Plug in and join us for a compelling narrative where finance and responsibility converge.

Full Episode Transcript:
< Intro >

Adam:           Welcome back to Count Me In. I'm your host, Adam Larson, and today we're diving deep into a topic that's reshaping the corporate landscape in India, ESG, or Environmental, Social, Governance, factors and their growing influence. We have two esteemed guests joining us. First, Sunil Deshmukh, who is IMA's chair-elect and an expert with over 30 years of global experience in business management. Also, we have Sandhya Sriram, the group's CFO for Narayana Health, and she is among India's top 100 women in finance.

In this episode, we're not only looking at the current regulations and the evolution of reporting requirements. But also how Indian markets are responding to the pressing need for ESG integration in risk management and long-term sustainability. Sunil will highlight the rewards tied to sustainable finance, has enhanced global reputation and reduced capital costs. While Sandhya will shed light on the practical challenges and opportunities like achieving transparency in ESG disclosure, and leveraging sustainable solutions through startups.

Get ready to impact the complexities and innovations within the world of ESG, with insights from the CFO's desk. As the G20 turns its eyes to India for sustainable finance directives, we, too, focus on how Indian companies can translate these directives into competitive advantages. Let's get started.

 
 < Music >

Sandhya and Sunil, I'm so excited to have you both on the podcast, today, as we talk about ESG, and especially ESG in the Indian market. And to just jump right into the conversation, how would you describe the importance of ESG integration, within financial strategies for companies operating in the Indian market?

Sunil:             Thank you very much, Adam. A great question, very relevant question to the Indian market conditions. Before we get into the formal discussion, I would say that the concept of triple bottom line was already existing in the world before ESG, which was coined by John Elkinton in 1994. Where we used to talk about 3P's, Profit, People, and Planet. I would say that ESG is a formal expansion of that concept, which has come into the existence.

Now, ESG is in existence in India, I would say right from 2011. Indian Companies Act Department or, Ministry of Corporate Affairs, as well as the Securities and Exchange Board of India, have been coming out with different regulations, different advisories, guidelines, and some reporting requirements by Securities and Exchange Board of India, on this topic. 

Now, you asked me the question about the importance of ESG in financial strategies. I would say that in today's world, almost all companies in their financial strategies start with a concept of risk management first. And when we talk about the risk management, one of the most important strategy that comes is the sustainability. Whether your business is going to be sustained for a longer period of time or not. And there comes the ESG, which is of course sustainability pertaining to environment, risk relating to the environment, risk relating to the social, which is typically the people. And, of course, the governance, which is more of a compliance risk based on the requirements of the stock market or government regulations, and all those things. 

So I would say that most of the companies start with integrating the ESG in their risk management strategy, and from there they take it. And, in today's world, ESG has become very important not only from a financial strategy point of view or a business strategy point of view, but also accessibility to the capital. If you want to access the capital at the world level or global market, and if you want to have a cheap capital or affordable capital as compared to the market prices, I think sustainability and ESG is going to play a very important… 

ESG strategy integrated into a financial strategy, will help the companies have a competitive advantage as compared to their competitors. It will also help the companies to have a long-term sustainability strategy. And we also talk in finance domain, that every single business is supposed to have a going concern concept or is a perpetual continuation.

So from that point of view, ESG will help companies to look into, naturally, how long the business strategy is going to sustain and stabilize. So long-term aspect of ESG is also going to help the companies in their financial strategy.

Other small things, or other very important but small things, which are helping companies due to ESG is talent retention. The today's generation Z employees, they don't want to work for companies which are not following the people strategies or governance strategies. So talent acquisition and talent retention is one area.

I would say supply chain resilience. In today's world, the Indian companies use global supply chain. We import a lot of raw material. So if we have a sustainability strategy, in the global supply chain, that's also going to help the companies. And, obviously, the last but not the least is the stakeholder engagement. 

And when I say stakeholder engagement, it could be your customers, it could be your suppliers, it could be your employees, it could be government, a municipal corporation, and, of course, shareholders, investors of the company. All these stakeholders are looking at ESG as a strategy from a long-term continuity, as well as comprehensive success formula for the company.

Adam:           Now, I think that's an amazing overview of where to look at things from a 10,000-foot point of view, to see how everything's working within the organization. Now, Sandhya, as a CFO, how do you perceive your role changing and developing, especially, as you try to implement these strategies and some of the things that Sunil talked about?

Welcome to the Count Me In Podcast! Join your host Adam Larson and today's guest, financial expert Tony Klimas, as they discuss the future of finance and insights for 2025 and beyond. Tony has 25 years of consulting experience that he brings to his roles as president for Horvath USA. Get ready for a deep dive into the evolving financial landscape and how the role of the CFO is changing. Stay tuned as Tony shares valuable perspectives on AI, machine learning, process automation, and ethical considerations in the finance function. Don't miss out on this engaging conversation with a true industry expert!

Full Episode Transcript:
 < Intro >

Adam:           Welcome back to another episode of Count Me In. I'm your host, Adam Larson, and today we have a special guest, finance expert Tony Klimas. Joining us for an insightful discussion on the future of finance. Tony has 25 years of consulting experience that he brings to his role, as President for Horvath, USA.

In this episode, we'll be exploring the evolve role of the CFO, the impacts of technology and innovation, and the ethical considerations in the ever-changing financial landscape. Tony provides valuable insights on managing stakeholder interests, fostering innovation, and addressing the challenges brought on by automation. Join us as we explore the complexities of the industry, and gain expert perspectives on what lies ahead.

 < Music >

Adam:           Tony, we're really excited to have you on the podcast today, and I just want to thank you so much for coming. And as we get started, how do you envision the role of the CFO changing by 2025 and beyond, in the context of an evolving financial landscape?

Tony:             Hi, Adam. Thanks, it's great to be here. And what a great, first question because that is what's happening today. And I think it's been happening really, probably, for the last 10 or 15 years. If we can define sort of a computing age turning into a digital age, somewhere, maybe around 2010 or so, the early part of this century. And CFOs have been dealing with that ever since, and they're going to continue to deal with it.

In fact, oftentimes, when I talk to clients, I like to remind them that we're in the early days of this digital age. It's like the early days, in the late 1940s, when computers were still powered by vacuum tubes and they filled an entire room. The changes and the advances are happening so quickly, and they're going to accelerate. And I think CFOs, on the one hand, it's a great time to be a CFO because you're watching all these fantastic, incredible things happening. But it also presents a lot of challenges. 

And the one thing I would say that's changing the most for CFOs, is their job is becoming incredibly more complex than it ever was in the past. And you see this when you look at the organizations of large companies. For example, the Chief Accounting Officer, for a large part of my career in finance and accounting, I didn't really see chief accounting officers. It was usually just a CFO and a controller.

Now it's very common to have both a controller, a CAO, a VP of finance who's in charge of the forecasting and planning process, and, then, of course, the CFO. and you might even have other folks; elevate, investor relations, and you'll often even have a digital person in there somewhere. 

So the role is becoming more complex. Who the CFO surround themselves with is becoming more important. And I think a lot of them, especially, the ones who don't quite see that coming, are struggling. Because it's just so much more to handle than they ever had to handle in the past.

Adam:           And you can't talk about the future and where things are going, without hearing the terms AI, and machine learning. And it's funny because if you ask somebody who knows about those things, they're like, "Well, artificial intelligence and machine learning have been around for a long time." But it's advancing more and more and more. Do you think that what jobs and roles, within finance, are going to become obsolete because of those things? Because they're advancing so much, that it will be taking people's jobs?

Tony:             Yes, it is a good point. As an undergrad, I was actually a math major, and I actually took some courses in neural networks, and some of the probabilities that are being used in some of these algorithms. And a lot of the math hasn't really changed that much, but how we apply the math and then, of course, the computing power is what has really created this environment now. 

Where we have all this new technology that both mimics intelligence, that would be AI. And, then, of course, machine learning is machines that are getting smarter, as they learn from their mistakes and then apply those, again, in an algorithm.

And, so, I think what's changing most, from a CFO perspective, is it is having a huge impact on the finance and accounting organization in the way we work and the work we do. In the same way that the pandemic impacted the way we hold meetings. And the way we now do things, virtually, the way we work. These technologies in accounting, and a lot of people are still trying to figure them out.

And, this is my opinion here, but I think one of the ways that's very important to think about these technologies is they're not just side thing. A lot of people are really enamored with some of these Internet tools. Where they can type a question into Chat GPT and get an answer. 

Yes, that's interesting, and it can produce an interesting answer. But the reality, the real value of these tools, is when we embed them into the technology stack, and we start to use them for both decision support, and to give us better insights than we had in the past. And when we start to do that, then we unlock the value of our data and they start to become super valuable for us.

And, sure, we're using them to automate things like the closing process. Last week I was with the folks from BlackLine, at their annual user conference. They focus heavily on AI and machine learning, and that's going to impact the organization. So they is a people side of this, and I think we're going to talk about that some today. 

But then there's also a capability side. And if you can get the capability ahead of your competition, you can really get an advantage in the marketplace, from these technologies. But it has to be embedded, and it has to really be part of the fabric of how you operate, it can't be a side thing. In that case, it's more of a toy, to me, than something really useful.

Adam:           Yes, it really is a toy. Now, there was a stat that I read in your white paper, The Finance 2025. That said that 87% of CFOs surveyed see an increase in process automation as a key goal. What are some of the opportunities there, for CFOs as they're looking to the future?

Tony:             Well, if ...

Welcome to Count Me In! Join your host Adam Larson as he dives into insightful conversations with industry experts. In this episode, Adam is joined by Andrew Jamison, CEO & Co-Founder of Extend, a Point72-backed fintech platform that enables virtual card and spend management capabilities for small businesses. They discuss how small to medium-sized businesses can leverage fintech solutions to reshape their financial landscape. Get ready to gain valuable insights and practical advice from Andrew as he shares his expertise in the field. Don't miss out on this engaging discussion that is sure to empower SMBs in embracing the latest technologies. Tune in for this informative episode!

Full Episode Transcript:
< Intro >

Adam:           Welcome back to another episode of Count Me In. I'm your host, Adam Larson, and today we have a fantastic guest joining us, Andrew Jamison, CEO and co-founder of Extend. A fintech platform that enables virtual card and spend management capabilities for small businesses. 

We'll be exploring how small to medium-sized businesses can leverage these innovative solutions, to reshape the financial landscape. Andrew will share valuable insights on the importance of embracing fintech technologies and how they can drive efficiency and growth. From the power of data and open APIs to the role of big partners in mitigating risks. 

Andrew will guide us through the key factors and success stories of implementing fintech solutions. Plus, we'll explore the future of AI, and machine learning, and finance, and the skills finance professionals should cultivate for continued relevance. So, let's get started.

< Music >

Andrew, I'm so glad to have you on the Count Me In podcast, today. We're excited to have you here, and we're going to be talking about fintech, and different solutions, especially, in the realm of small to medium-sized businesses. To jump right in, how do you think that the fintech solutions are reshaping the financial landscape, especially for small and medium-sized businesses? And why is it crucial for them to embrace these technologies?

Andrew:         Look, I think we're continuing down a really exciting journey, actually. Where the prevalence of data, and the ability and accessibility of technology means that we're finding more and more verticalized solutions. Which helps on two fronts; one, on the one hand, it means if I'm very specific in the industry that I serve. I start to have a solution that actually talks to me, specifically, in my industry. 

And I think the ability for people to access that technology means that you now have more and more independent developers, who are exploring how these open APIs can be used, leveraged, and really brought together to create solutions that are increasingly targeted, at the different functions that we work in. So I think that crossroad we're there, and it's only going to explode from here, in my mind.

Adam:           It's definitely going to explode. You see the different technology is getting more and more accessible. But sometimes it's harder when you're in a small to medium-sized business. Sometimes you're an accounting department of one, or two, or three people, and it's harder to implement some different types of technology. What advice would you give to somebody trying to look into it, saying, "Hey, I want to jump into this, but I may not have the budget that bigger organizations have?"

Andrew:         Look, what I look at small companies, they want to do more with what they have. And they're trying to abstract away the complexity because, you're right, I look at our team, we're a team of 80-odd employees. And the reality is I have one VP of finance, and he's only just now gone and hired his right-hand person. And the reality is that they're jacks of all trade. They're AP, they're AR, they're essentially all your cash flow management, and they do all your recording, all in one. 

So if I sit down, specifically, with him, it's really all about seeing how they can leverage existing software for longer. How do you abstract away some of the challenges with some of the software that you might have, as you start growing as a business? How do you leverage other solutions, which are just embedded with those solutions, so that you don't have to go through a massive transformation? 

Well, I'll give you a great example, and that's Graham Stanton's Avise. His whole thesis is all about lots of businesses use QuickBooks, and then quickly you grow up, if you're a successful company. But do you really want to make the next step to the next enterprise solution? Which, actually, costs a disproportionate amount of money more, relative to the benefits that you're going to get from them in the early years.

So there's always that, healthy tension, but we're starting to see more and more people focus on the abstraction piece. Keep the ledger the way it is, and then just start adding solutions over the top that help me run my business more efficiently.

Adam:           I like that. Adapt it to what works for you, as opposed to maybe doing a whole ERP system that may be too much money or too much of a spend for you.

Andrew:         Yes, and, again, finance team of one, I came out of the exact polar opposite world. The first 10 years of my career were in deploying SAP. So right at the enterprise resource planning side of the equation, and just a completely different beast, in terms of the different types of people that you had to go and engage with. And also just the number of departments that you got to engage with. Therefore, the resources that were required, just to keep the engine running for that platform were just completely different.

Adam:           Now, we can't talk about moving to different technologies without talking about things like fraud, and just the risk there. And especially if you're a smaller department, or a partner of one, like in your case, there are two people. How do you protect against hackers or different things, different emerging threats, especially, in the fraud space, especially, if you're a medium-sized business?

Andrew:         Look, I think you have to rely on the bigger partners. You can work, certainly, to continue to enhance your solutions. But you do have to lean on some of the bigger partners. We lean on, certainly, on the AWS infrastructure to help us there because they have so much more money to plow into this. 

Now, obviously, they're a bigger target than we are. But they also have way more resources to help plug those gaps. So in our mind, it's also two things; one is it's not really about if, it's when, it's going to happen. And, then, it's really about how do you mitigate it in terms of relying on these partners. 

Now, clearly, cybersecurity, whether it's through an encryption or authentication. I think lot of work continues to be done there. And I think we all experience it, in the consumer world, which is mor...

Welcome to Count Me In! In this episode, our host Adam Larson welcomes back Alissa Vickery, Chief Accounting Officer, SVP Accounting and Control at FLEETCOR, who shares her journey as an interterm CFO at FLEETCOR. Discover how Alissa balanced multiple finance responsibilities, handled the weight of the CFO role, and developed her leadership strategies. Get ready for an engaging discussion that will inspire and inform.

Full Episode Transcript:
< Intro >

Adam:           Welcome to Count Me In. In today's episode, we are excited to have Alissa Vickery back on the show. Alissa is the Chief Accounting Officer, Senior Vice President, Accounting and Control at FLEETCOR Alissa, who served as the interim CFO at FLEETCOR shares her experience stepping into the role, navigating the transition, and balancing multiple responsibilities. She discusses the importance of building a strong team, seeking advice from mentors and auditors, and effectively communicating with peers and leaders. 

She candidly shares her success stories and learning opportunities, during her time as the interim CFO. Lastly, Alissa reflects on how this experience has shaped her career trajectory, and emphasizes the importance of being a business partner within the finance leadership role. Keep listening to hear Alissa's insights and advice. Let's get started.

< Music >

Adam:           Well, Alissa, we're very excited to have you back on the Count Me In podcast. And today we're going to be talking, a lot, about your role, how you served as an interim CFO at FLEETCOR. And, so, to start off, maybe, you can briefly describe your experience as an interim role and what were your main responsibilities?

Alissa:           Sure, so I guess I'll back it up a minute, when you get asked to sit in that kind of seat, even on an interim basis, it is quite overwhelming and humbling, all at the same time. And, so, after serving in various roles in the finance sector here at FLEETCOR over the last 12 years, stepping into the role and the responsibilities, and I'll just call it the weight of the position was, quite frankly, a moment where for me, professionally, I had to really look in the mirror and say, "Okay, I can do this. I'm ready. I can accomplish what my leaders are hopeful that I can accomplish."

But in terms of what prepared me for that, I think it's the experience of being on the journey of the FLEETCOR trajectory over that 12-year cycle, and holding various roles throughout the organization. But always in a global capacity, and always in the interest of, I'll call it the overall finance good. 

Whether it's helping with a deal and making sure that we're thinking through the risks and rewards appropriately, working on valuation, thinking about internal audit. It's really those experiences that prepared me to be able to step into the role in that moment, at that time, whether anticipated, unexpected, whatever. And, so, it was quite the opportunity, at that time.

Adam:           Yes, I can imagine the weight of stepping, into something like a CFO. Because if you're not used to that, if you've never been in that role, there's a certain level of responsibility that is on your shoulders, all of a sudden. Like one day you're not, and then the next day you are. So it's a big transition. How did you navigate that transition to that new role?

Alissa:           I would say I spent as much time as I could with my outgoing CFO, that was step one. Talked a lot with HR around how to navigate the executive ranks, if you will. I was already in the room, but having the CFO hat was a very different hat. And then I would say getting advice from both of those parties, as well as my external auditors. Who were already, I'll call it trusted business partners, as we navigated forward, and just trying to be, quite frankly, as prepared as I could be. 

But then also have the chats with my CEO, to understand exactly where he wanted me to focus. Because I knew that it would be challenging to be all things to all people. I already know that in my personal life/professional life. You can't do all things excellent, at the same time. If you're being a great employee, sometimes, you're not as great of a mom or a wife. And, so, always striking the right balance.

And, so, understanding what he was hoping that I would help control, and help manage, and get him comfortable with, as we moved forward. And, then, I think getting the advice from my outgoing CFO, who was quite gracious with the time he had left in the organization, around making sure that I was leaning on others. I was not in this by myself. I have a team. We have a strong team, and they help to build and support a great finance organization. "Don't forget to lean on them, ask for help, and seek the advice of others when needed."

At the end of the day, I had already built the trust throughout the organization through my tenure, and through the various projects I've worked on over the years. And, so, not discounting the value, and I'll call it just the level of experience that facilitated in the new seat.

Adam:           I can only imagine, but it sounds like you had a great team. And having a great team around you really helps lift you up, and prepares you for that. Are there certain leadership strategies that you had to implement to try to navigate this waters? Because one day you're same level as other people, and the next day you're suddenly a C-level person, right?

Alissa:           Yes, it's just the short answer. It was super fascinating because suddenly I had a new peer group. And, so, working directly with each of those peers, and I have to say they were so gracious, and saying, "How can I help you be successful?"

"Let me know what you need." So I think that's part of it. 

But, then, too, in terms of the skill sets, it was really having the fortitude to find the right help. Back to my statement, I can't be all things to all people, at the same time. I already was the chief accounting officer, still am the chief accounting officer. But I had to elevate to CFO and wear both hats. 

And, so, making sure that I brought in some help to supplement where I knew I needed to step out, and being thoughtful about what that skill set looked like. Knowing that I wasn't going to be able to give every piece of the process, the time that I would have had I only been wearing the single hat. 

And, so, I would say learning to let it go, it's very difficult. Learning to trust your people in a way, I was already trusting them. But I had to trust them in a whole new level, and they're all fantastic, but it's just a change in mindset. I think type A personalities tend to keep it close, and close to the vest, and understand all the moving pieces, and then you can release. 

And, so, I had to get out of my comfort zone, greatly. And I had to figure out new ways, quite frankly, to manage my calendar, manage my availability for those team members. Provide the right level of support t...

Welcome to Count Me In, with your host, Adam Larson. In this episode, Adam is joined by Tim Hedley, the Executive in Residence at Fordham University and Shari Littan, Director, Corporate Reporting Research & Thought Leadership at IMA.  Join this thought-provoking discussion as they delve into the importance of internal controls, the evolving landscape of sustainability reporting, and the challenges and benefits organizations face in adopting sustainable business practices.

Discover how the COSO framework, the gold standard for reliable reporting, has been adapted to include non-financial reporting objectives, aligning with the rise of sustainability and ESG reporting. Explore critical trends in the world of ESG reporting, from increasing regulations to stakeholder engagement and supply chain transparency.

Learn from Tim and Shari as they share their insights on the challenges organizations face in implementing sustainable practices and balancing short-term profits with long-term sustainability goals. Understand the significance of internal controls in providing a basis for external assurance and building stakeholder trust in reported information.

Full Episode Transcript:
< Intro >

Adam:           Welcome to another episode of Count Me In. In today's episode, joining us are two guest experts. Tim Hedley, who is Executive-in-Residence at Fordham University, and Shari Littan, Director, Corporate Reporting, Research and Thought Leadership at IMA. Our discussion revolves around the importance of internal controls and sustainability reporting. And how they enhance trust, accountability, and reliability of the reported information. 

Tim and Shari share insights from the COSO framework. Which was developed to help improve confidence in all types of data and information. The landscape of sustainability reporting is constantly evolving, with shifting regulatory requirements and increased stakeholder expectations. We explore crucial trends; such as the focus on materiality and risk assessments, stakeholder engagement, supply chain transparency, and evolving reporting metrics. Let's get started, with this enlightening conversation.

 < Music >

Adam:           Shari, Tim, thank you so much for coming on the podcast. We're really excited to be talking about COSO, internal control, and everything in that whole ESG world. But just for our listeners, who may be unfamiliar, you could've, probably, have heard the term COSO, or ICSR, and those things before, but maybe you're not familiar with those terms. Maybe, Shari, you could take a little bit of time and define, maybe, a high-level overview of what COSO is, the significant, internal control framework, and the purpose of the new documents.

Shari:             I'd be happy to, thanks, Adam, it's great to be here. So COSO stands for Committee of Sponsoring Organizations and it came about in the late 1980s. It is a collaboration of five accountancy and auditing organizations. There's the American Accounting Association, which is an academic organization, primarily. AICPA, everyone is familiar.

IMA, where we sit, and we primarily focus on the accountants and finance professionals in business, the in-house folks are ours. Institute of Internal Auditors, and FEI, Financial Executives International. So those five organizations make up COSO.

COSO came about in the late 1980s, amid what was then the savings and loans crisis, and there was concern that the profession needed to do better. That we were starting to see major accounting failures, disclosure, litigation, regulation, questions. Are we doing the right things in the profession?" So the five accountancy organizations got together, and they said, "How are we going to resolve this? How are we going to promote trust and accountability in what we do, as a profession?" The focus became on this concept of internal controls, which we'll get to. 

So in '92, after that, the COSO, as an organization, produced its first internal control framework. And then we can move forward to 1990s, late 1990s, 2000, the Enron, WorldCom's era, which led to Sarbanes-Oxley. And Sarbanes-Oxley, rather than looking at the substance of what a company needs to disclose, again, looked at the idea of governance process, auditing, and said, "In order to produce financial reports to the markets, 

you need to focus on your systems and your controls. You need management to speak to it, in your reporting system. You need auditors to address controls." We had the PCAOP.

So we have this Sarbanes-Oxley, which created this idea of internal controls over financial reporting. And, although, Sarbanes Oxley didn't specifically say, "You must use the COSO framework." It was considered the best thing around, and it's become the gold standard in how to produce reliable financial or corporate reporting in more general.

Now, in 2013, the framework was refreshed, we got a new internal control framework. And what it did, in the 2013 refresh, is it added the idea of non-financial reporting objectives. That was around the same time, about 10 years ago, when we started to see all kinds of sustainability integrated, ESG, reporting frameworks.

And, so, though not express, what the framework did, in its refresh, was say "Yes, this is completely applicable to these types of activities and reporting." And, so, that leads us to where we are, today. Where, earlier, in 2023 we issued the internal control over sustainability reporting publication. And what the authors did, in that publication, was we looked at the existing internal control framework and said, "Okay, now we're seeing an acceleration of ESG or sustainability reporting and activities, performance and activities. 

And that means we need good information, and that means we need quality information and transparency. Let's look at the COSO Internal Control Framework, and see how we can interpret it and apply it to these new forms of reporting.

Adam:           Shari, I think that's a great overview. And, as you mentioned, there's the ever evolving nature of this new type of non-financial reporting, ESG reporting. There are shifts in regulatory compliance. We were just speaking before we started recording how this could change, or that could change, or this regulatory body can make a statement, at this moment, at this time, how this is constantly changing. 

And, Tim, maybe, I'll ask you, how do you see this landscape changing? And what should organizations be, particularly, aware of, especially, with the ever evolving nature and things constantly moving?

Tim:               Well, Adam, thank you, and thank you for having me here. The sustainability reporting landscape has rapidly changed, particularly, recently, to meet stakeholder expectation, and government regulations. And, Adam, your question could be an entire podcast, or a big section of this podcast if we had that kind of time, but I do see some critical trends, just some of the ones, from my perspective. 

I mean, many pe...

Welcome to the Count Me In podcast with your host Adam Larson and special guest Dan DeGolier! In this episode, Adam and Dan, founder and CEO of Ascent CFO Solutions, dive into the fascinating world of AI and its application in the finance and accounting sectors. Discover how AI is enhancing efficiency and reducing errors, while also exploring the potential challenges and ethical considerations it presents. Join us as we explore the evolving landscape of AI in fractional leadership. Tune in now for an engaging discussion you won't want to miss!

Full Episode Transcript:
 

Adam:           Welcome back for another exciting episode of Count Me In. I'm your host, Adam Larson, and today we have a special guest joining us, Dan DeGolier. The founder and CEO of Ascent CFO Solutions. We start off by exploring current use cases of AI in the industry. Such as coding transactions and streamlining forecasting processes. 

But as Dan points out, we're only scratching the surface of what AI can do. The potential for growth and efficiency is immense. But it's important to proceed with caution and be aware of the biases and ethical considerations that come along with it. 

Throughout this episode we highlight the evolving role of finance and accounting professionals, in the age of AI, and how they can adapt to leverage its benefits. From bookkeepers, to CFOs, to fractional CFOs, AI has the power to enhance efficiency and transform the way we approach financial management. So grab your headphones, and join us as we uncover the exciting world of AI in accounting. Let's dive in.

< Music >

Well, Dan, we're so excited to have you on the podcast today, as we're going to talk about AI and fractional leadership. And just to get started, as we think about AI, how is it currently being applied to finance and accounting sectors? Obviously, it does things like enhance efficiency and reduce errors, but how is it being applied in those areas?

Dan:               Yes, thanks for having me on, Adam. It's a pleasure to meet you, pleasure to be here. I think we're just getting started, for one thing. AI, even though it's been around for a while, ChatGPT, GPT 4, and all those things, are relatively new to the mainstream. And, so, a lot of this stuff we're just starting to figure out right now. 

Definitely, in the accounting side, we're starting to see some use cases for coding transactions and things like that. I think there are a lot of opportunities in our world, in the finance realm. When it comes to forecasting, to be able to streamline multiple scenarios and make iterations to financial models and forecasts. 

I think that's an area that we're starting to see develop. And, then, things like pricing strategy and looking at different ways to price and run different scenarios around that. Using large language models, and data, and being able to bring in data and run multiple scenarios and see what things look like there. I think those are all some areas that we're starting to see. 

But, honestly, because it's so early, what is really going to be the biggest use cases, two years from now, is probably something we haven't thought of. Or somebody's thought of but hasn't really been implemented, yet.

Adam:           Yes, that's a great point, that we're so early in the generative AI phase that some organizations are adapting quickly, other ones aren't. And software companies are trying to integrate it into there but it's still in the early phases. So our traditional role-

Dan:               And it's still prone to errors as well.

Adam:           Exactly.

Dan:               Yes, we've all read the articles about the lawyer who tried to use it for briefs and got in huge trouble, and the hallucinations are still rampant. So I think proceed with caution, but recognize that it has enormous potential and don't be left behind. 

I was going to say, I've heard that it's been compared to if you look at Web 1.0, the emergence of the Internet, and commercial use, that this could be a 10x-type of opportunity. From a growth potential, from an efficiency potential, et cetera, it's just fascinating to me, just how massive this could be, and how life-changing this is.

Adam:           Well, and also the bias that's implicit in there, in the AI. Because there are so many biases among how people think, wording, that's out there in the Internet and how it's learning. There's going to be that bias that you have to get over as well. Because it's going to be embedded in there because of how it is societally.

Dan:               Correct, yes, I agree with that. I think one other ethical consideration that needs to be taken into account, when you're implementing AI, is things around copyright infringement, and intellectual property, and protection there. I think the chatbots aren't necessarily aware of what's IP and protected and what's not. 

And, so, it's important that we take into that, that there's a human overseeing that, and making sure that there's nothing being taken out of context or being utilized improperly. And along the same lines, research is another area. Tax research and other types of accounting research is a place where there is a lot of use cases for AI. 

But, again, this is where you need to be very careful around trusting that research and validating that it is accurate. So we don't end up in a situation, where something that's not valid is being utilized.

Adam:           It's going to be very difficult to understand what has been verified and what hasn't, and as you're doing research and as you're looking at things online. I imagine new tools are going to have to be developed to verify, "Yes, this is valid." Or "No, it's not." And how do you trust those as you go forward?

Dan:               Yes, that's really important, and there are going to be mistakes made. As we start to adopt this, we're going to see mistakes being made. And, as humans, we need to learn from our mistakes and learn from others' mistakes, that's how we evolve.

Adam:           Mh-hmm. Do you think that the traditional roles in finance and accounting are going to change because of these? I mean, obviously, they are. But how can we adapt as we go forward?

Dan:               Yes, I think, first thing I would suggest is pay attention to what's going on, see what's evolving, see where things are taking it. I think it's going to definitely change the accounting side, the day-to-day transactional stuff. There's a YouTuber out there, Hector Garcia, who has done some demos of how you can plug in a ChatGPT tool into QuickBooks Online, and how ...

Join host Adam Larson and special guest Paul McManus, as they discuss the importance of personal branding in today's accounting and finance industry, and how it can help you stand out from the crowd. Paul is a podcast host, the author of the book “The Short Book Formula” and the co-founder and CEO of More Clients More Fun.  Discover the power of writing and publishing a book as a means to enhance your personal brand and become a thought leader in your field. Explore practical tips and insights on how to effectively communicate your expertise, simplify complex concepts, and engage with both experts and non-experts alike. Don't miss this episode that will empower you to create expert status and level up your career as a financial professional.

Full Episode Transcript:

Adam:           Welcome back to Count Me In. In today's episode, we have a special guest joining us, Paul McManus. To discuss the power of personal branding for accounting and finance professionals. Paul is a podcast host, the author of the book The Short Formula, and the co-founder and CEO of More Clients More Fun. 

We'll explore why personal branding is crucial in today's competitive landscape, and how it can elevate your status as an expert in your field. Paul, an accomplished author, with multiple bestsellers on Amazon, will share his insights on how creating a book can enhance your personal brand and establish you as a thought leader. We'll also touch upon the challenges professionals face when approaching the idea of writing a book and how to overcome them. Let's get started.

Paul, I want to thank you so much for coming on the podcast, today. We're really excited to talk about personal branding and becoming better versions of ourselves through that type of work. And, maybe, we can start off by talking about why things like personal branding are, especially, important for today's accounting and finance professionals.

Paul:               Definitely. Thank you for having me, I appreciate being here. I think personal branding is one of the things, whether you're a small business owner, or whether you work at a firm, as a professional. 

At the end of the day, when you're growing your business, or whether you're looking for promotions and to make a bigger impact in your world. Nothing, well, not nothing, but personal branding can be one of those things that help you differentiate yourself from everybody else. 

One of the ways that I, primarily, focus on to help professionals with their personal branding is to help them write and publish a book. Which I know is something, again, I talk to a lot of financial professionals and I ask them if they've considered it, and many have. But it just seems like one of those daunting tasks that it's on someone's bucket list, but they never quite get to. 

So, as part of the personal branding question that you asked, I'd love to deep dive, as appropriate, into how a book can really help accountants, and other finance professionals really take their personal brand to the next level.

Adam:           Yes, definitely, when you think about writing a book, some people think, "Oh, no, I have to write this thousand-page book, and it's going to take six years, ten years of my life. But if anybody has looked at the show notes for this event, if they've looked at what you do. They've seen you written multiple books and they've been on Amazon bestseller. So how does creating that book really enhance your personal brand and elevate your status?

Paul:               Yes, writing a book is one of those things that has a long history that people respect. I think there's really two things that help professionals stand out. 

One is writing a book, another is public speaking. There is the old quip from Jerry Seinfeld on the public speaking side that if you're at a funeral; would you rather be giving the eulogy or be in the casket? And the joke was, well, most people would rather be in the casket because they're terrified of public speaking. 

But I think just the act of getting up and speaking in front of people, is just one of those things that most people are afraid of, and so they respect. It's the same thing for writing a book. It's something that just in our culture, there's a tremendous respect for someone who's put in the work, done the work, and who has written and published a book. 

Because it's one of those things that really differentiate yourself from everybody else in the field. It's one of those things that people think about, talk about, and more often than not, never do. And there's a variety of benefits to doing it, personal branding be one of them, which we can go deeper on. And, then, there's also a variety of reasons why people never take that action. So, on the plus side, we want to be clear about why do it. 

There's a great Simon Sinek talk about begin with why, and when your why is clear, then, you get that much more clear on the motivation and the how. And, so, let's talk about the why, from multiple ways to think about it. 

So, again, if you are one of those professionals that does any work in the capacity, as a business owner. So let's say maybe you're a fractional CFO and you're looking to attract clients. Let's say that you work with clients themselves and, maybe, what you do is more difficult to understand. The ability to articulate your core knowledge through a book, way that is interesting and simplifies it to an outside audience. Especially an outside audience of non-experts, is a very powerful way simply to communicate. 

I find that writing a book, it's a personal growth endeavor. Oftentimes you start with a blank page and you think, "Okay, what do I know about this topic?" And after a few minutes, you're like, "Oh, that's it." And, so, you have to say, "Wait a minute, I know more than this." And it really challenges you to think about what you know, and why is that important, and who's interested in that. How can you communicate that in a way that's effective? How can you use stories? 

Oftentimes, especially, with accountants and other finance professionals, what I find is that there's a lot of jargon. There's a lot of technical terms. There's a lot of things that they understand implicitly through experience and study, but for a non-expert, they get lost. And, so, it's how do you communicate ideas in such a way that is relatable to whomever you're speaking to? 

And, so, throughout that process, and we talked about personal branding a little bit, but it really helps you create leadership skills, communication skills, and those things all come together. And, so, whether you're looking to sell more, get a promotion, or simply be more effective at your job. The act of writing and publishing a book is an amazing vehicle to help supercharge those efforts.

Adam:           Mm, yes, it's interesting because when you think about it, if you don't know how to explain what you're doing. If you don't know how to articulate it in a very good way. 

How can you be that storyteller, be that business partner? Whether you're in a f...

Join host Adam Larson and expert guest AJ Coleman in Count Me In’s latest episode. Get ready to dive into the world of internal control and fraud prevention.  AJ is an author and serves as Vice President, Fraud Manager at Byline Bank. He explores the importance of strong internal controls in detecting and preventing fraud, while sharing real-life examples of common types of fraud and how they're identified and dealt with. Don't miss out on this engaging and eye-opening conversation.

Full Episode Transcript:
Adam:           Welcome back to Count Me In. I'm your host, Adam Larson, and today we're diving deep into the world of fraud and internal control. Joining me is the incredible A. J. Coleman. He is an author, and serves as vice president and fraud manager at Byline Bank.

Today, we'll be discussing the importance of strong internal controls, in detecting and preventing fraud, and how organizations can navigate through risks and vulnerabilities. A.J. will share some eye-opening examples of common fraud cases and explain how they are identified and dealt with. So if you want to learn more about the crucial role of internal control in combating fraud, you definitely don't want to miss this episode. 

Well, A.J., I want to thank you so much for coming on the podcast. Really excited to talk about internal control, and fraud, and just all the different things you have to do in that world. And I know you're an expert in this field, and I thought that, maybe, you could start by giving some examples of how things like strong internal controls can help by detecting fraud. Since I know you see this every day.

A.J.:               Well, great to be here and the opportunity to talk fraud is always rewarding. But, yes, internal controls are really the key, is to be able to identify where there are opportunities or gaps, for the fraudsters to expose an organization. And that's really where the first thing you have to look at is where are we exposed, and what risks that are out there. And from there, you then start crafting those internal controls.

●       How do you want them set up? 

●       What do you want people's roles to be?

●       How should things be escalated? 

And there's a lot that we can go into that aspect. But without internal controls, nobody understands what the proper steps are, and how do you get that message to the expert. And in terms of fraud, fraud happens every day, and it happens in places that we least expect it. It could be anything from a personal thing, where somebody steals your information unknowingly. All the way up to somebody depositing a fictitious check in the ATM deposit, knowing that it's fictitious. And without internal controls, how do we detect this?

How do we maneuver through those processes to, actually, review these transactions? And, then, at the end, do we need to escalate this up through leadership? Does it need to have a certain suspicious activity report filing? And without those internal controls in place is a free fall.

Adam:           That makes a lot of sense, and it begs the question, chicken versus egg, do you have strong internal controls unless you've experienced fraud? Or can you have good internal controls, if you've never experienced fraud? What comes first in some cases?

A.J.:               Well, a lot of depends on the leaders, and the type of the organization and how they set up their infrastructure. Some organizations are very passive and they are reactive, in terms of waiting for things to happen. Other organizations are saying, "Well, you know what? We're going to be active in this. We're going to be proactive." And a lot of that has to do with that leadership quality.

In my opinion, from a fraud expert, you always want to work on the preventive. Because you can always build something, and then do your own risk assessments to determine if there are gaps exposed. Then work together to figure out how to close up those gaps. Instead, of just leaving it open-ended and waiting for the fraud to happen. And a lot of times people just sit because it's easier to wait till something happen, rather than be proactive and build something.

Adam:           Yes, that makes a lot of sense. Being proactive does seem like the better option, but it all comes down to leadership and those things. Maybe, we could circle back to what are some of the most common types of fraud that you see in your line of work, maybe, there are some examples. I know you can't name any names, but, maybe, there are some examples you can give and how it was identified and dealt with.

A.J.:               Check fraud, is number one on the list. I mean, you would think that in today's world, that we would be doing more electronic payments. But there are just amount of checks that go out on a daily basis. And, sometimes, people just it's easier to write checks, it's easier to send them through the system.

But I will tell you the post office is compromised. We are seeing a lot of checks intercepted by third party individuals. Whether it's the postal workers themselves or they're in a partnership, maybe, with the fraudster or they've been approached, and we read things on the news where postal workers are held at gunpoint, their keys are taken, for mailbox. And all these fraudsters are looking for is just checks, where they can either wash them or they can do a forged endorsement on the back hoping that nobody will notice that.

Check fraud, is unfortunately not going away, and in the last two years I've seen a significant increase. And there are certain controls that you can put in place, not only for the banks, or the institutions, or the companies, but also for the customers themselves. Positive Pay is really important, where you can look to see if you can be protected and be notified, if there's a counterfeit check that gets presented. You can do a payee Positive Pay, that looks at the payee information to see if it's been washed. 

Alternatively, go with the electronic. It's a lot easier on the cash flow, but you also don't have to worry about a paper copy. So check fraud is definitely number one. The other thing we're seeing a lot is what we call Business Email Compromise, BEC, as it's known. And what this is, is with fraudsters, they penetrate into an organization.

Whether it's through a phishing attack or other metrics, and what they do is they clone the server once they're in the organization. And they operate as if they are an authoritative figure and emailing different groups, different business units.

As well as, maybe, even the financial institution changing payment information or making requests for ACH or wires to go out. And what happens once the clone server is done, the primary customer or the vendor has no idea. And the fraudsters are the ones that are letting certain emails go through, intercepting other emails. So, a lot of times, these customers have no idea that they've been compromised, as well, as they just quickly change that information and say, "Hey, we need to pay this person X amount of dollars."

But nob...

Join host Adam Larson as he sits down with the brilliant entrepreneur and CEO of WTS Enterprises, Josh Fonger. In this episode, Josh delves into the captivating topic of the systems mindset for entrepreneurs and business owners. Uncover the secrets behind working on your business rather than in it and discover how this shift can drive exponential growth and success. Josh, with his wealth of knowledge and experience, reveals how business owners can streamline and optimize their processes, increasing profits and reducing time. If you're ready to take your business to the next level, don't miss this dynamic conversation with Josh Fonger.

Full Transcript:
< Intro >

Adam:           Welcome back to another episode of Count Me In. I'm your host, Adam Larson, and I'm thrilled to have our special guest with us today, Josh Fonger. Josh is an experienced entrepreneur and the CEO of WTS Enterprises. In today's episode, Josh will enlighten us on the crucial difference between working in your business versus working on it. And why this shift is essential for growth, particularly, for business owners and entrepreneurs. 

We'll discuss how getting caught up by day-to-day operations can hinder business growth, innovations, and long-term vision. Josh is an expert in helping companies navigate this challenge, by utilizing the Work the System, or WTS, method. He emphasizes the importance of backfilling our current tasks and responsibilities. 

So we can jump ahead and lead our organizations effectively. But it's not just about the concept. Josh provides practical insight, on how to take action and implement a systematic approach to run a business. So get ready and gain some valuable insights, tips, and strategies. As we explore the power of a systems mindset, with our incredible guest. Let's dive right in.

< Music >

Adam:            Josh, I want to thank you so much for coming on the podcast. Really excited to talk about entrepreneurs, and that systems mindset that you talk about. But to get started, maybe, we can start by discussing the difference of working in your business versus working on it, and why that's essential for growth, especially, for business owners and entrepreneurs?

Josh:               Yes, and this is not a new concept. I think people have been aware of this, heard this, for decades. Popularized by The E Myth, Michael Gerber's, bestselling book. And the key thing that I do is help companies, actually, make that happen. The big the big issue, of course, whether it's a manager, an owner, or a CEO, is that they are doing the work as a technician, instead of leading the work or growing the organization. 

And, so, that's the key thing, is that if you're doing the work, then no one is doing the business growth, no one's doing the innovation, no one's doing the expansion. No one's casting the vision for the next series of years. Instead, they're talking about the next five minutes, and maybe the next five hours, and that's really the issue is that companies stay stuck when they're looking short term. 

And, so, what I focus in on is helping, mechanically, because it's more than just an idea. They need to think differently, but then they, actually, have to take different actions. Is help business owners and leaders take those actions, in a methodical, mechanical way, so that they're backfilling what they're currently doing. Because you can't just jump ahead somebody's got to do the work. 

And, so, there needs to be a way, which we call working the system, or the WTS method, a way to backfill what you're currently doing. So you can jump ahead and lead the organization. 

And, the idea, again, simple enough, work on the business instead of in the business. But, mechanically, and infrastructure-wise, to do that takes some heavy lifting, some rolling up of the sleeves. That's what we want all of our clients to get is that, there's a process you can take. And if you work the process, you work your systems, that freedom and that growth will become a mechanical reality.

Adam:           So maybe we can dig in in a little bit more into this work, this system method that you're talking about. I know that you have a book, that we'll put a link in the show notes for everybody, maybe, you can talk a little bit more about that. How does that enable your business owners to do things like increase profits, reduce time? I know those are a lot of things that you speak about, maybe we can talk a little more detail on that.

Josh:               Yes, so everyone uses all their time, and everyone, essentially, uses all of their resources, and so you're bound by those. And, so, the way to expand your business, expand your life, is to do a better job with those resources. And, so, working the system is all about getting more efficient. And, so, how do we do that? Well, we help people not just react to the problems of their business or the stimuli that's coming their way. But instead, take charge or take control of the systems that they know are going to keep happening. 

So instead of just reacting to a phone call coming in. Instead, manage or control that system, so that you and your team know how to answer the call, to be the best with it. And let's just say answering the phone is one of 300 different systems that maybe your company has. And instead of winging each system and following it the way you've always done it before. 

If you take the time to look at each system, as a separate entity, and then figure out what is the best way to make it the fastest, the lowest cost, the highest efficiency, the highest profitability. What are the ways we can optimize each of those little pieces, which can be done if they're written down and looked at, objectively? You're going to find that the assemblage of those separate pieces are going to result, we're talking to math folks here, accountants, the result is going to be a much better business.

It's not going to be surprise when your company is running way better, way more profitably, when the separate pieces, that make up your business, are each improved by 5%, 10%, 20%. Each of these pieces are then going to equate to a multiple of what you ever thought possible. Because we work with companies, everyone's already working hard. Everyone's already doing their best. 

And, so, we let them know, "You have to work differently, if you're going to expand beyond your current best." Because everyone's already trying their best. Everyone's already working hard, everyone's already maxed out. 

So knowing that plateau is already reached, in the organizations we work with, the goal is, "Okay, well, now we're going to have to work differently. We're going to have to work in a different way." And that's going to be working on these separate systems.

Adam:           So a lot of times when you say the word systems, people think these are different softwares that I'm using, or different things like that. But you're talking systems as more of all the processes that...

Looking for expert advice on fractional leadership? Look no further! Join host Adam Larson and guest Ben Wolf as they dive into the world of fractional executives. Ben is the founder and CEO for Wolf's Edge Integrators, a premier fractional COO organization. From fractional CFOs and CMOs to COOs and beyond, Ben will share his insights and experiences on how to hire, manage, and maximize the impact of fractional leaders. Get ready for engaging discussions, practical tips, and real-world examples that will revolutionize how you approach leadership in your business. Don't miss out and listen today!

Full Episode Transcript:
Adam:           Welcome back to another episode of Count Me In. I'm your host, Adam Larson. And in today's episode, we have special guest, Ben Wolf. Joining us to discuss the fascinating concept of fractional leadership. Ben is the founder and CEO of Wolf's Edge Integrators. A premier fractional COO organization.

Today we'll explore the key factors to consider when hiring fractional executives. The benefits they bring to businesses, and even dive into some real-life examples. So get ready to uncover the power of fractional leadership, and how it can revolutionize your organization.

Ben, thank you so much for coming in on the podcast. We're really excited to talk about fractional executive leadership, today. And I thought maybe we could start off by maybe you can share some experience, some of your own experiences. That led you to discover this concept of fractional executive leadership, and how it changed your approach to leadership in an organization.

Ben:               Sure, absolutely. Well, Adam, first of all, thank you for the opportunity to share about this topic. Obviously something I'm very passionate about. And I first came across it when I was in this business that I first grew up in, entrepreneurially.

I used to be a corporate bankruptcy attorney. And after I left that, I helped build this entrepreneurial business from startup. Built most of its operations, it was a healthcare startup, until we had over 130 people and we were the largest healthcare agency of our category, in the entire state of New York.

 it was really quite a journey. And ways into that, what we and the other members of the leadership team realized is that all of us were figuring out this business for the first time. It was the first time any of us had been running a business of our size before. 

I mean, we'd been employees in larger corporate businesses or cogs in the machine, at various places. But the first time, actually, running a business of our size before. I mean, let's say when we're 50, 75, 100 people, we had never done this before. 

And, so, everything that we're doing, we're reinventing the wheel, at a certain point. We hired an EOS implementer, to help us use this management system called Entrepreneurial Operating System. So we tried to get help and consultants, usually, just felt like they just put together some big report and spent dozens and dozens of hours with us, and members of our team, and just would deliver this report and say, "Good luck." Now, I just call that drive-by consulting. 

What I just realized is, you know what, sometimes that's what you need. But, sometimes, you need somebody that's, actually, on your team that's, actually, part of the business and that's done it before. That's not just figuring it out for the first time like we were. 

And, so, we started looking at hiring for full-time roles and, sometimes, either we were just priced out. These people are like 300 thousand, didn't necessarily make sense for this role. Or we realized we need people who've done this before, and we didn't have it.

And, so, it wasn't really till after I had left there, and I was a COO at a smaller business after that. And, then, I really discovered this concept of a fractional executive. Where you can actually get an executive on your team. That's not the trauma if it doesn't work out, or the cost of 300 thousand plus bonus, plus benefits, and everything else, of a full-time executive, who's done this before. And, also, maybe, somebody that you might be worried might be too corporate for your environment, and you could actually do that with a fractional executive.

You can get someone that's done it before. Whether it's a CFO, or a COO, or CMO, CTO, CIO, CHRO, whatever, something else, and get them on. They're part of your leadership team, they're part of your management team meetings. They have direct reports within the business.

And, so, it's like the best of both worlds. You have a high-level person that's done it before, they're on your team. They get to know your business better because they're actually part of your team on an ongoing basis. Not just consulting, "Hey, good luck." But actually managing the people and managing that department, but just doing so on a part time basis.

So I just became aware of that and, then, ultimately, started to do it myself. First as a solo practitioner, as a chief operating officer, fractional COO. And, then, ultimately, started building a team, which I have now. But that's sort of the experience I went through. It was what I learned in that business growing up, and not having someone like that, who'd done it before. That made me aware of this solution, as I learned more over time.

Adam:           Yes, that's so interesting. Because if you're reading any business application, if you're reading any articles, if you're reading anything in any industry, around business, you hear this term fractional leadership. And, I think, we may have jumped the gun. So maybe we can start by defining what is fractional leadership and how does it differentiate? Because if you're listening to this and you've, maybe, heard this term thrown around. And people, probably, assume, like you were saying, maybe, it's like a consultant kind of thing, but it seems like it's more than that.

Ben:               Yes, that's a great question. I basically define a fractional executive or a fractional leader, as the same as a regular executive. Because the regular executive, if you have your CMO, or your CRO, or your COO, CFO, CTO, CHRO, whatever, they're responsible for a function of the business.

The CMO was responsible for the marketing function of this business. Not one project, but the marketing of the business. The outcomes, the people, everything, just the marketing function of the business. CFO, and a lot of people listening to this, the audience, maybe CFOs or other roles in the finance, or accounting departments.

And CFO is your CFO, they're responsible for your P&L, and finding savings, and forecasting, and strategy, just like a full-time CFO. The only difference between a full-time and a fractional CFO is that they're there fractionally, and they're part time. 

So it enables you to afford someone in that role, that is maybe more experienced than you could afford on a full-time basis. So if you don't need someone with a tremendous amount of experience that's been CFO for decades, at multiple businesses, or a CMO at various businesses. If you don't need that, then, fine, you can hire a CMO a...

In this episode, host Adam Larson sits down with Ashish Gupta, CFO North America at Reckitt, to explore the CFO's role in driving a sustainable earning model for businesses. Discover how Ashish's diverse leadership experience across continents has influenced his approach to sustainable growth and learn valuable insights on strategy, transformation, and execution. Get ready to expand your financial knowledge and gain actionable tips for driving success in your organization.

Full Episode Transcript:
Adam:           Welcome back to Count Me In. Today we are joined by Ashish Gupta, CFO, North America, at Reckitt. Ashish has worked across various continents, and his international experience has greatly influenced his approach to developing a sustainable earnings model.

Ashish shares valuable insights on the importance of sustainable leadership. The link between strategy, transformation and execution, and the need for clear communication and business transformations. Join us as we delve into the CFO's role, in driving sustainable growth and empowering teams.

 Ashish, we're so excited to have you on the podcast, today. And you've had extensive leadership experience, across various continents. And maybe you could share with our audience, how has this international experience influenced your approach to a sustainable earnings model?

Ashish:           Hi, Adam, I am actually privileged to be talking to you, today. Yes, I've been lucky to have experience in various continents. But I must say that it has also been one of the challenges that I have faced. It has not been easy, but it's also been quite enriching and rewarding. It has taught me that there is no one-size-fits-all approach, either to leadership, or to developing a sustainable earnings model, or managing teams. 

Well, my greatest learnings have been two, in this situation. The first one, has been that leadership must be situational, and it must be relevant to the place and the situation you are in. And there could be different leadership styles that you could adopt. For example, you could be empathetic, but at the same time be decisive. You could be collaborative, but be very unambiguous. You could come across as vulnerable, but still be authentic about it. And that's what people appreciate, and that's what brings your whole self to work, really.

The second one is you also need to know, and as I said, that there's no one-size-fits all approach. You also need to know when to make a switch from one style to another, depending on how your team is reacting to it. For example, sometimes, we say that it's best to give feedback to people, at that moment.

But that may not be the right approach every time. Because, sometimes, we just want people to get over the emotions and have a calmer head. Before you go back and say, "Hey, look, in this instance, we could have done it a little bit differently." And, maybe, the people are more receptive, at that point of time, when that heat has settled down and they are more calm. 

So I would say that, it has taught me, also, because I've worked in different countries, different cultures. But people are people, so people are the same. They've got emotions, they like to be heard, they like to be respected, and that is universal. That does not change.

Adam:           Yes, the human experience is universal, no matter where you go and, I think, people forget that. Because they want to divide each other because of this or that, and the human experience is so universal, like you just said. And as you're going out through your career, I'm sure you've hit different things like transformation, strategy, execution. You've had to hit all these different things in your different leadership roles. How has that set of skills supported you, in driving success in the different organizations you've been a part of?

Ashish:           Well, Adam, you've just hit on three magic words in that. Which is strategy, transformation, and execution. And I think most of the organizations struggle with the relationship between these three to their teams. Because you cannot have a transformation before you have got a clear strategy, about how do you want to drive the business. And transformation is an outcome of your strategy, and execution is implementing that strategy and transformation. 

So, very often, teams, in the business, fail to see the link of the transformation that is, sometimes, being led by global teams, to the company's strategy. And, then, it becomes even more muddy when it comes to execution. And I love this quote from Einstein, I'm not a science buff, but I love what he said.

He said that, "If you can't explain to a six-year-old, then you don't understand it." And I think it's very true. And it may sound complex strategy, transformation, execution, but organizations need to keep it very simple. Because if people don't get it, then it doesn't reflect in teams not interested in executing a project or program. And it may sound something similar to Silent Resignation, that we talked about today, so people are not just interested.

With my experience, I have had experience, and I'm lucky to have experience on both sides. I've led global transformation programs from the corporate side, and I've been at the receiving end, and large markets of those transformation programs. I've always wanted to understand the strategy behind a transformation. Why are we implementing a project?

What's the corporate strategy in it?

What do we get out of it?

What do I get out of it? 

And that helps me put in the right execution force and resources behind it.

Adam:           So, you're speaking about leading transformation into the finance function. One of the times, I was reading about in a recent article you wrote, was the Group Transformation Finance Director at Reckitt. How is that experience? What things did you learn from that particular experience, that helped translate into what you're currently working on?

Ashish:           Well, it has been immensely useful to my learning, really, Adam. And, normally, if you see in any organization, there are about two to three centers of gravity in an organization. The first one really is the corporate headquarters; that drives the vision, purpose, and strategy for the company.

The second one, in many instances, is the geography or business unit headquarter, depending on how the organization is set up. And the third one, which I believe is the most important one, are the markets where the business actually gets delivered and, sometimes, there's a confusion.

But it's so true, that the transformation office always works for the markets to bring in that change and shift.

In my transformation roles, I was leading the selection and implementation of certain cutting-edge projects and tools, in various areas. Planning, forecasting, controllership and compliance, productivity. And, then, I'm currently working in the biggest market, which is U.S. So it has helped me to understand that once you understand the strategy be...

In a rapidly evolving accounting landscape, how can professionals demonstrate their skills and experience to stand out? Certifications! In this episode, veteran accounting educator and President of HOCK International, Brian Hock outlines the immense value of professional certifications for career-long growth and development. 

Learn how certifications like the CMA provide a standardized body of knowledge to showcase specialized expertise. Discover how the right certifications position you for success as technology and demands transform. Gain perspective on certifications as a strategic investment in your future, increasing opportunities and earning potential over the length of your career. 

Brian draws on extensive experience preparing accounting students and professionals for certifications to offer advice on overcoming barriers like cost or study time. He provides encouragement that passing rigorous exams like the CMA, while requiring dedication, is very achievable with the right preparation and planning.

If you're looking to get strategic and maximize your career potential in accounting, this episode is a must-listen! You’ll come away motivated to pursue professional certifications and equipped with insights to choose the right certifications for your goals.

Full Episode Transcript:
 

Adam:           Today on Count Me In, we have a great episode in store. Our guest is Brian Hock, president of Hock International and an experienced accounting educator. Who has been teaching finance and accounting certifications for over two decades. Brian provides keen insights into the value of professional certifications like the CMA, and how they can benefit accounting professionals throughout their career.

He discusses the importance of certifications in demonstrating specialized knowledge and skills, as well as how certifications, like the CMA, help professionals stay current in a rapidly changing business landscape. Brian offers advice for overcoming barriers to obtaining certifications. Emphasizing the long term career rewards, that make certifications a smart investment. With technologies and an evolving talent gap impacting the accounting field, Brian's perspective is extremely timely. Now, let's welcome Brian Hock.

Adam:           Well, Brian, we're really excited to have you on the Count Me In podcast today. And, just to jump right in, can you share with us, with our listeners, why are certifications so critical, especially in the field of accounting?

Brian:             Well, first, Adam, thanks for having me. It's great to be with you. The question of certifications is one that is very important for somebody's career. And the way I explain it is that there are however many thousands and thousands of universities around the world, and they all have different quality of an accounting program, accounting professors, the classes that they teach. 

And, so, just because somebody has an accounting degree, we aren't really in a position to know what that person knows. What they studied, how they studied, how well they did. But a certification is a specific body of knowledge. A specific syllabus that is the same for everybody who takes it anywhere in the world.

And, so, the term certificate, it's a certification because it's that standardized test that everybody who's passed it has passed the same content. And, so, it's a person's way of showing what they know separate from their university. Because a lot of universities may be very good universities, but they're not known outside the city, the region that they're in. And nobody outside that city or region is aware that the person has such a strong accounting education or finance education. But a certification shows that.

Adam:           It does, and, I think, we're hearing that a lot more. Especially, in the world of accounting, with so many different things happening. So many new technologies coming out there. One of the biggest things we're hearing about is things like the talent gap. So how are certifications helping bridge that talent gap, especially in the finance and accounting sector?

Brian:             Well, a good certification helps bridge that by staying current, and this is something that I know CMA does. I've been teaching CMA for almost 25 years, and it's a number of syllabuses that I've taught. Because what accounting and finance professionals need to know, what they're using on their job, has changed over time. 

And, so, with IMA doing such a good job of keeping the CMA syllabus up to date and relevant. That is part of that talent gap being addressed, by making certain that the people that come out through CMA have those skills. And the obvious example is AI wasn't in the syllabus 20 years ago, but it was put into the syllabus in 2020.

And, so, technology is a big one, as technology changes. As the skill set that people need to use that technology changes, data analytics, visualization, are in the syllabus now, but they weren't ten years ago. And, so, a certification that keeps its syllabus current addresses that gap by making certain that the people who come out of that certification have those current, and practical, and relevant skills that are needed in the market today.

Adam:           Yes, that makes a lot of sense. Now, you have been in this accounting space, in the certification space, teaching people certifications for a while. How have you seen that demand change over the years, and what trends you see us going towards in the future?

Brian:             I think one of the things that's happened, and continues to happen, is more and more what I would call a specialty certification. You take something like CMA, and it's accounting and finance, at a fairly broad scope. It's not specific to receivables, or payables, or bookkeeping, or a specific type of banking.

But now you have certifications that are specifically about fraud examining. You have certifications that are about a controller position or a specific element of a business. And those are wonderful certifications for people that are a little further along in their career. That have some experience and know what it is that they're going into.

But when we talk about young people just starting their career. The certification that they need is one that's going to keep as many doors as possible open for them, as long as possible. And when I talk to a university student, I say, "Well, if you know that you want to go into investment banking, then that's the certification you need to pursue."

"If you know that you want to go into some particularly niche area, then, find that specific niche certification."

But most people, until they've been five or 10 years in their career, don't know what they want to do for the next 20 years. And, so, there are niche certifications that are developing, which are for later in somebody's career after they know where they're going. But we still have the same certifications around th...

In today's episode, host Adam Larson is joined by the esteemed authors of the 2023 Curt Verschoor Ethics Feature of the Year titled "The Value of Civility" - Amanda Marcy and Doug Parker. Get ready as they delve deep into the importance of civility in the workplace and its connection to professional ethics and ethical standards.

Did you know that even seemingly inconsequential or inconsiderate words can violate workplace norms? In this fascinating conversation, Amanda and Doug shed light on various aspects of civility, including its impact on workplace morale, productivity, and employee commitment. They also explore the role of leaders in promoting a culture of civility and providing guidelines for employee conduct.

Through insightful discussions and real-world examples, you'll gain a profound understanding of how civility not only enhances workplace harmony but also influences ethical decision-making. So whether you're a leader aiming to foster a respectful environment or an employee dealing with an uncivil boss, this episode will equip you with the tools to navigate challenging situations. Tune in today!

Full Episode Transcript:
Adam:           Welcome to Count Me In. Today, I'm thrilled to have Doug Parker, Assistant Professor of Accounting at Western Carolina University. And Amanda Marcy, Assistant Professor of Accounting at the University of Scranton on today's show. They are authors of the award winning article, The Value of Civility. Which examines the important relationships between ethics, professional standards, and civil behavior in the workplace.

Doug and Amanda will share insightful perspectives from their research, on how a culture of incivility can negatively impact organizations. What leaders can do to promote civility, and advice for handling uncivil bosses or co-workers. Their expertise provides a crucial framework for maintaining ethical principles, while nurturing a respectful and productive work environment. 

Doug and Amanda's thought-provoking article underscores why self-awareness, open communication, and thoughtful leadership are vital for organizations seeking to uphold integrity. I'm excited to dive into these critical issues with them. Please join me in welcoming Doug and Amanda to the show.

Adam:           Well, Amanda and Doug, I'm really excited to have you on the podcast today. You, guys, are the authors of an article called The Value of Civility, which is the Curt Verschoor, Article of the Year. And we're really excited to talk about that. And, so, maybe we can start off by explaining how civility in the workplace is related to professional ethics, and the ethical principles and standards. And we're going to be talking a lot about ethics and standards, today. But maybe we can start a little bit about maybe how civility works and maybe what is civility. Because it's not a word we hear every day in every workplace.

Doug:             Well, it's definitely not something you hear every day, but it's something you witness every day. Especially when you watch media or any news outlets, you'll see incivility at its best. But the basic concept there is it's, basically, an exchange of seemingly inconsequential or inconsiderate words, that violate the conventional norms of workplace conduct.

In other words, it's not, necessarily, direct attacks. It's more of texting on your cell phone while someone's trying to convey a point or real low intensity behavior meant to harm others, without maybe even recognizing that you're doing it. Sometimes it can be words that we say that can harm others. Derogatory comments, ignoring their opinions, belittling their opinions, I think, is a big part of incivility. And we do witness it quite a bit in everyday society.

Hopefully not in everyday workplace society, but you see it a lot in terms of society. Go to the counter and just watch people do their orders. Where something's done wrong or not as quick as they think, and you'll see those uncivil acts begin to take place in there. Any additional thoughts on that, Amanda?

Amanda:       I would say one thing to remember is that ethics contributes to how, like Doug said, we treat each other on a daily basis. So civility, at its heart, focuses on honesty, fairness, self-control, and prudence. Therefore, if we don't have civility, then we can never truly act ethically.

Doug:             It definitely requires to be mindful of a place, time, and how you speak. I think we must concentrate on what we say and how we say it. So I found this neat, little, article by Joan Dubinsky, from Clemson University, and she stated that, "Civility and ethics are cousins, they're not twins." In other words, they're not the identical same thing. In other words, you can be civil and still act unethically. So you can take an unethical course, but do it very civil.

So in the South we say, "Bless your heart" that's uncivil words. It's meant as a derogatory term, but it's done in a very civil manner. So you can act in an unethical manner and still act civilly. However, you can't be uncivil and be ethical, at the same time. So it doesn't work both ways. So if you're uncivil, then, you're definitely not acting civil or ethically toward others. Treating other with respect and care is really foundational to ethical leadership. Leading in a manner that respects the rights and dignities of others.

Adam:           Mh-hmm, yes, it sounds like everybody should be listening to this conversation. Especially if we look at just how people treat each other in the streets, in Twitter, to each other, and how they talk to each other anywhere. This is a wider conversation, than just the workplace. But if we look at the workplace, how can that lack of a civility affect a professional workplace. If we don't have those things? I think you've kind of covered that. But if we look at just a workplace, how can it affect if we don't have those things?

Amanda:       One thing to consider is it will, obviously, break down workplace harmony. Because you could have employees attacking each other, I don't want to say physically attacking each other. But attacking each other, maybe they're physically attacking each other, I don't know. Either subtly or intentionally which, again, can result in low employee morale, decreased productivity, stuff of that nature.

It could also result, in the end of the day, of employees having less organizational commitment. So they may be more apt to leave the firm just because they're not comfortable being there anymore, in that type of environment.

Doug:             Yes, and if you really read the paper and look at some of the comments, so I'll go to that, it says that, "The impact of incivility, it makes you less motivated to do a good job or get a job done as fast as possible." Well, in that are you acting in the most ethical manner? I mean, if your motivation to do a good job, that's not really ethical, especially, for your clients or for your employer in that.

The future of accounting is here, and it's automated! In the latest episode of Count Me In, we unravel the world of accounting automation, AI, and the exciting changes that technology is bringing to the industry. From enhanced efficiency and productivity to the ethics and potential challenges of integrating artificial intelligence, this episode covers it all. Our expert guest, Jesse Rubenfeld, CEO and Founder of FinOptimal, will discuss the way accounting is being transformed, the new skills professionals need to master, and the fascinating possibilities that full automation offers. Tune in, level up, and discover what the future of accounting holds!

Connect with our presenter:
www.finoptimal.com
https://www.linkedin.com/in/jesserubenfeld/

Full Episode Transcript:
Adam:           Welcome, listeners, to Count Me In. Your go-to destination for insights into the future of finance and accounting. Today, we have a special guest with us, Jesse Rubenfeld, CEO and founder of FinOptimal. He is an expert in accounting automation and AI. We delve into a conversation that may redefine how you perceive your profession. How is automation shaping the accounting landscape? What are the new skills that financial professionals must adopt? And what does the full automation mean for traditional jobs in the field? Sit back and join us in this exciting journey, as we explore the transformation of accounting in the age of automation.

****

Well, Jesse, we're really excited to have you on the Count Me In podcast, and today we're going to be talking about automation and accounting. And to start off, maybe, at a high level, we can talk a little bit about how has automation really impacted the accounting and finance industry, and what benefits has it really brought to it?

Jesse:             Well, I think it's really been a benefit to the profession, that's the headline. It's taken it from a place where there was a lot of manual block and tackle. To an elevated role where the accountant, the finance professional, can be a thought partner and spend most of their time analyzing and adding value to the message that they provide to management, to the CFO, to investors, to whoever it is. Because they're spending less time managing spreadsheets, or uploading things, or doing data entry, and more time being smart.

Adam:           Yes, they have more time to focus on other things. Maybe we can talk about what are the specific kinds of automation, that are really impacting those operations. You mentioned some things that are taking us off of spreadsheets. But are there other things that are really impacting it?

Jesse:             Well, in this situation I like to differentiate between accounting practice automation and accounting automation. Accounting practice automation involves task management workflow. Facilitating review and approval of work papers, tracking time spent on clients. It benefits the accounting firms, but it doesn't, drastically, increase capacity. And it's only beneficial for internal accounting teams, at a certain size.

Now contrast that with accounting automation, which involves calculating and recording journal entries, reconciling transactions, generating reporting. This benefits accounting firms and their clients directly. It increases capacity for firms, and it increases speed and accuracy so the clients aren't sitting around waiting for answers. 

Internal accounting teams can benefit from this early on. One person can benefit from this. One person can do the job of five, whereas it's unlikely they'd use accounting practice automation in a one-person finance team. We also like to distinguish between automation and automation assisted. Automation assisted means it's faster than fully manual, but it's still manual at lots of parts. Whereas automated means one event triggers all of the subsequent actions, automatically. And I like to illustrate this with a side-by-side example.

Okay, let's say you're using HubSpot, the CRM, and QuickBooks Online. You close a sale, you have to invoice for the deal and then you have to account for it correctly. And deals, sometimes, have different payment terms. "I'm going to pay all up front, I'm going to pay monthly." And they have different agreement lengths; annual, quarterly, month to month.

An automation-assisted process looks like this; a deal is marked closed, one. Accounting gets an email, they fill out the details in a spreadsheet that contains a revenue waterfall schedule. They make sure the formulas are correct and then they copy down through all of the columns, et cetera. And then once a month they go book an entry in QBO.

Whereas automated, fully automated, means the deal is marked closed, one, in HubSpot. Data flows from the CRM to QBO automatically. The invoice is sent, automatically, and the invoice is coded in a way that the revenue can, automatically, be recognized in the appropriate periods. That's what we're doing for our clients, full automation. Does that make sense?

Adam:           Yes, that makes a lot of sense. And, so, as you're describing those two things, the full automation is almost eliminating traditional jobs that have been in the finance function. So when you were talking about this full automation. There are new skill sets that are involved that are needed for it, and you've seen lots of articles. But maybe we can talk a little bit about that. What are some new skills that accountants are going to need, going into the future? Because full automation is on its way, in a lot of the functions.

Jesse:             Totally. Again, the headline here is it's elevating the high performers of yesterday. So that today they can do more, better what they're already doing. In terms of new skills, it comes down to more systems and data analysis. SQL, for example, in our case, Python, if you really want to go crazy. I long ago went crazy. But I think that in the past, somebody who could do the higher level work of managing, of communicating financial pictures to important stakeholders like the CFO, the CEO, investors, they would do that, but they'd spend a lot of time preparing for those things.

It would be a major event to get ready for a board meeting. And the amount of time that it took to do that right, was a barrier to entry of competitors for their job. Whereas now they don't have to spend that time preparing for it. Meaning they can use automation to do a much better job, of keeping things ready for the board meeting in real time, all the time.

But it also means that it's not as hard for someone to come along with the same skills and replace them. Because they no longer have the luxury of designing their own really convoluted, excessively complicated process, that another skilled accountant can't come in and replace. So it's a double-edged sword. But, overall, it's making everybody more productive and therefore is good for business and the accountant.

Adam:           Yes, it is good for business because it helps your bottom line, it helps get things done more efficiently. But I can imagine that changi...

Dive into the fast-paced and exciting world of artificial intelligence with our podcast series! Join our expert guests, Dr. Mfon Akpan and Dr. Scott Dell, as they unravel the mysteries of AI, explore the cutting-edge developments in language models like ChatGPT, and discuss the massive impact of these technologies on industries like accounting. From the thrilling acceleration of AI adaptation to ethical concerns and security implications, this podcast explores it all. Tune in to stay at the forefront of one of the hottest topics in technology today!

Connect with our speakers:
Dr. Mfon Akpan - https://www.linkedin.com/in/drmfonakpan/

Dr. Scott Dell -  https://www.linkedin.com/in/drscottcpa/
SF Magazine Article by our speakers

Full Episode Transcript:
Adam:           Welcome to Count Me In. I'm your host, Adam Larson, and today we're diving deep into the world of AI. A subject that has been making waves across industries. Transforming the way we work, communicate, and think. With me are our esteemed guests; Dr. Mfon Akpan, Assistant Professor of Accounting at Methodist University. And Dr. Scott Dell, Assistant Professor of Accounting at Francis Marion University. They bring a wealth of knowledge and insights into AI's history, its current impact, and what's on the horizon. 

We'll discuss everything from AI's phenomenal growth; to its applications, ethics, security concerns, and much more. So buckle up and let's embark on this fascinating journey into the digital revolution.

Adam:           Mfon and Scott, thank you so much for coming on the podcast. We're really excited we're going to be talking about AI and ChatGPT, and all that comes underneath that. And we're really excited to have this because this is a very hot topic, and people are talking about it. You see articles about it every day. You see updates, you see leaders writing letters saying, "Let's stop all AI for six months." Et cetera. Maybe we could just start at a high level. What is AI? What are these chat bots? What are these things doing for us?

Scott:             Amazing tool, and thank you for having us. It's a pleasure to be here and to share. I'll kick things off, Mfon, if it's all right. This artificial intelligence has been around for over 60 years. So you say, "Wait a minute, why is it so new?"

Well, what's new is the capabilities because of the computing power we now have. And the tool is amazing; it is changing life as we know it. We haven't seen the likes of this since the printing press. It's an environment that can really do things, change work, augment work, replace work, but makes things better. Your thoughts, Mfon?

Mfon:             Yes, and I think some of the excitement around it is that we haven't seen this type of growth, in a platform as well. So you think about it was released, November 30th 2022. Five days, the platform got a million users. So you think about in 2010, it took Instagram two and a half months to get to a million users. So there's a lot of excitement, and then there's a lot of acceleration and speed around the platform, as well.

Scott:             As a follow up to that, 100 million users mark was reached in two months. Compared to TikTok, I think, it was nine months to get that far, that fast. So it has been an amazing adaptation of the technology.

Adam:           So maybe we can talk a little bit about how does it work. And, then, from there, maybe, talk about what benefits it may have for the accounting profession as a whole.

Mfon:             Well, it's a language model, so it has an interface. So you're able to go to the platform, you go to the website, and you're able to ask it questions, or you can copy and paste information and ask it to do things. So from the profession side, if you're asking it to solve problems. You can ask it to solve a problem, or you can have it write an email, write a letter, it can produce content for you.

Scott:             And as Mfon mentioned, it is an LLM, one of those three-letter acronyms, a large language model. But what it does is it projects words. So it looks at the previous word and it says, "Mm, what would the next logical word be?" 

                        Which, sometimes, if you've ever played the game of telephone, as a kid, sometimes, you get to the end of that line and nothing resembles how it started out. And that sometimes happens, as well, with the ChatGPT and GPT-4 environment. Because it is projecting with probabilities, "Yep, I think this is the next word." And sometimes it's dead wrong. It's called hallucinating, it's the actual technical term.

Mfon:             It does hallucinate. But what's so fascinating when you use it, it is projecting. But I guess it feels like you get the impression that it's thinking, even though it's not thinking. So you can ask it questions and it will give you answers, so there's that interaction. But it is projecting and it does, sometimes, hallucinate, or make up answers, give you false information. 

Scott:             And the fear I really have, in the hands of professionals, we can, probably, take a look and say, "Oh, this isn't quite right. This is illogical." But for a novice, and for newbies like our students, they will look at this and say, "The English is so good. It just flows so, logically, it must be right." And it's not, although, often enough it is right. So there's a balance.

Adam:           Yes, so talking about people using it. Obviously corporations, people within corporations, within organizations, are using it. Within the accounting profession are using it, and people are having to create policies. There are new workarounds coming out there. People are saying, "Okay, you can use this, but you can use it for that."

I saw one example, where somebody put in a fake balance sheet and said, "Analyze this for me." And it gave a really interesting analysis. Then, you have to worry, "Oh, am I putting somebody's data into this thing?" And you have to worry about those things. And, so, how can this tool be used for management accounting? In the accounting space, obviously, without giving away too much personal data?

Scott:             Security consciousness is we need to be there. I mean, you're hearing about the deepfakes. I just heard about a scandal in Hong Kong, a banker that sent millions of dollars, based on what so...

In today's challenging business landscape, organizations need to adapt, innovate, and maximize efficiency more than ever. In today’s episode of Count Me In, we dives into the heart of support functions within organizations, discussing the current markets in 2023 and the inevitable squeeze that many businesses face. Our Guest Kevin Herring, president and founder of Ascent Management Consulting, discusses how you can leverage expertise within your organization as cuts and reorganizations loom on the horizon. Kevin will unpack the role of accountants, finance, IT, HR, engineering, supply chain, and more in optimizing the resources they have in the organization. Discover how you can shift your mindset, change how you operate, and bring your expertise to bear on critical situations.

Connect with Kevin:
https://ascentmgt.com/
https://www.linkedin.com/in/the90dayturnaround/

Full Episode Transcript:

Adam:           Welcome to another episode of Count Me In. Today's world is filled with uncertainty, and with 2023 looking like a challenging year, organizations are feeling the squeeze. Our guest, today, Kevin Herring, president and founder of Ascent Management Consulting. Brings a wealth of knowledge and expertise to our discussion, on support functions within organizations. 

We'll explore how businesses can optimize their existing resources, transform their thinking, and redefine roles to survive and thrive in these turbulent times. It's time to reimagine your organization's potential. So let's dive right into this essential conversation.

Kevin, I want to thank you so much for coming on the Count Me In podcast. I'm really excited to have you on. As we talk about support functions within organizations. And as we both know that the markets, in 2023, are not looking great. The futures are not looking great. And it's going to put a squeeze on many organizations. And can we start talking about, within organizations. How you can leverage expertise, within your organization, as cuts and reorganizations are going to have to start coming?

Kevin:           Yes, that's a great question. How do we do that? And I think that you're right. Everything that we read, everything that we hear CEOs are saying that they're hunkering down. They're planning for a rough 2023, possibly 2024, and they really have to maximize, maybe, a better way to put it is to optimize the resources that they have in the organization to get through it. And our support functions play a critical role in that. 

Every organization has a lot of natural slack in the system. And, sometimes, we don't realize it until we really start to drill down and look at what's working, what's not working, that sort of thing. And what we find is that when you talk to people, when you talk to teams, and ask them, are they contributing everything that they could possibly contribute to the organization? 

Not are they working as hard as they can, but are they contributing everything? Do they have capabilities that are not being used? Do they have information, understandings of things that are not being tapped? And the answer is almost always, "Absolutely, yes. I'm doing the best I can with what I have, but I could do so much more for the organization, if they just let me."

And people and staff functions play such a critical role. Accountants, finance folks, IT, HR, engineering, supply chain, all those functions can play a huge role in maximizing or optimizing the use of our resources. The people that actually produce the product. The people that actually interface with the customers directly. And one of the ways they can do that is really to take a different look, maybe, than they have, historically, about their role in the organization. 

So here are a couple of ways to do that. One is to think, when I go to work each day, how do I see myself? And this is not just a semantic exercise. But do I see myself as an accountant who just happens to work at XYZ manufacturing company, for instance? Or do I see myself as an XYZ business person, who happens to bring accounting expertise to the organization? And it's a different way of thinking about my role, "Why I'm here?"

"What am I supposed to do in this organization?"

Am I just supposed to perform a bunch of tasks related to accounting? Or am I actually supposed to do things that, sometimes, might even stretch me a bit outside of my area of expertise. To help the business, overall, to be successful and to look for those opportunities? 

And, so, when we do that, we start recognizing that for an organization to get the full use of our expertise. We need to think of ourselves in terms of how can we bring our expertise to bear on the critical situations that the organization is dealing with. The critical issues they're dealing with, "How do I do that?". And that's a consulting role, that's not an activity role. That's not a compliance or regulatory role, that's a consulting role. 

That's where we're looking for ways that we can help those who are in the core business. To produce more efficiently, more effectively, to satisfy the customer better. To produce better products, higher quality, optimized, profitability, reducing cycle time, all those sorts of things, delighting the customer. Those are all things that anyone in a support function has the ability to help with. If they think of ways to apply their expertise in solving existing problems, and preparing the organization to handle possible future issues. 

So that's a shift in thinking, it's also a change in how we operate. Because now, if I'm a consultant, I need to learn how to be a consultant. I need to learn consulting skills. I need to learn how to identify opportunities, diagnose problems, gather data, assess it, and determine how I can solve that problem. Or determine if maybe I don't have the expertise to solve it. Who might have that expertise, and be willing to source that for those in the core business that are struggling. That's a different role, for a lot of people.

Adam:           That is a different role. And it's almost like within your internal organization, your title may be Chief Financial Officer or Chief Staff Accountant. But what you're saying is that your mindset needs to be that of a consultant, to better help the organization. So how do you start changing that mindset so that you can better help?

Kevin:           Yes, well, first you have to decide who your client is. And this is a problem for a lot of people. Most people, when you ask them, "Who's your client?" They point to their boss. That's the client or the boss's boss, the CEO or the CFO. That's who they really serve in the organization, and that's not an effective mindset to have.

Sure, those people play a critical role, but as bankers, really as bankers. People who provide the assets, the resources, the budgets, the tools and supplies, and things you need to be able to take your expertise and apply it to the core business. They want a return on those assets. So they're going to extend the resources for you to be able to use them in a productive way, for the organization. 

And, so, that begs the question — Who is the real client? Well, the places where you ca...

In this riveting episode of the Count Me In Podcast, we dive into the complex world of cybersecurity within the accounting profession. Join us as we sit down with Tom Woolley, CEO of Today CFO and Founder of  Today Cybersecurity, who has navigated the transitions from corporate industry to founding his own cloud accounting firm, and then into cybersecurity for accountants. Discover the biggest challenges faced by organizations today, from integration headaches to the buffet of software solutions. Whether you are a Fortune 100 company or a mom-and-pop shop, you'll gain insights into striking the right balance with technology to ensure information security. With regulations tightening, get ahead of the curve with expert advice and real-world solutions. Don't miss out on this episode – tune in now!

Connect with Tom:
* Website: www.todaycybersecurity.com
* Tom's LinkedIn: https://www.linkedin.com/in/tom-w-2b6256173/
* Facebook: https://www.facebook.com/todaycyber
* Twitter: https://twitter.com/todaycyber_
* Instagram: https://www.instagram.com/todaycybersecurity/
* LinkedIn: https://www.linkedin.com/company/today-cybersecurity/

Full Episode Transcript:
Adam:   Welcome to another enlightening episode of Count Me In. Today we have an exceptionally exciting conversation lined up for you. Our guest today is my fellow podcaster, and an author on Amazon's bestseller list, Tom Wooley. He has expertise in corporate accounting. Spanning sectors like pharmaceuticals, oil, and gas, and now he's making waves in the realm of cybersecurity. 

From big corporations to small businesses, the tech landscape is ever-changing, and Tom's insights are here to guide us through it. We'll discuss;

The rapid shift to remote work. The challenges of secure information handling. The complexities of selecting the right software. And the impact of new regulations. 

Buckle up, as we explore how technology is shaping the future of accounting. Tom, welcome to the show.

Adam:           To start off, I just really wanted to, maybe, you can talk a little bit about your background and how you got here.

Tom:               Hi, Adam, thanks so much. It's a pleasure to be here. So I've been an accountant for 15 years, in the corporate industry before starting my own firm. I started off in pharmaceuticals, and then went to oil and gas in more of the financial analysis role and a lot of management accountancy. One of the things I used to do a lot of was whenever we would acquire a new company, we had to look at their financial systems. What they had in place, and then integrate them into our SAP financial system. All their historicals, and then get them trained, up and running for the future.

So I got a lot of experience, and had a lot of fun working in accounting technology in my corporate career. And then decided that, "Hey, there's a lot of technology to be brought or to be moved over and implemented in the small business accounting world as well. Smaller firms need just as much tech, if not more, sometimes, than the big guys. And with the way the technology world is moving, especially, with everything going over to the cloud.

I decided to start my own cloud accounting firm, back in 2015. And, then, when everybody started going remote, in 2020, I decided that was a good time to pivot again and go into cybersecurity, for accountants. And help other people tackle some of those issues that we saw as we transitioned to a lot of people working from home, remote, and just coping with a very wild and flexible world, over the last couple of years.

Adam:           Yes, it's been a very wild and flexible world. There's been so many things happening with everybody working from home, and all the challenges that organizations face. And cybersecurity is something that's in the news every day. You see ransomware attacks, and so many different things that's affecting so many organizations. 

Maybe we can start by talking a little bit about what are some of the biggest challenges you see organizations facing, when it comes to cybersecurity.

Tom:               Absolutely, there are a couple of things that really hit home. It's how to keep everybody working in a fluid environment. Where you can access all of your information securely. How can you find your clients' information securely? How can you receive it from them securely? We work in a time where we've got so many different communication channels. We have to actually tell our clients what is a safe and good way to get your information over to us. 

And when we started transitioning from working in the office to working from home, the biggest challenge that we faced, and that other accountants are facing is–how do you go mobile with all of that? How do you keep it in the cloud and know that it's secure? And, really, importantly, how do we instill that trust relationship with our clients. So that they know that their information is in good hands? And we started looking at so many different software out there. 

The second challenge is with a huge buffet of cloud software. Which one goes with which? How does it integrate? And it really came down to what does the process look like, for internally and externally with our clients? And that's what we hear a lot; is which software should I use? 

How do I implement it? 

There are some all-in-ones out there. Should I piecemeal, together, best in class? And there are just so many solutions. Accountants don't have time for that, especially, during tax season, which has been basically year-round for the last couple of years.

Adam:           Yes, I can only imagine. And also the biggest challenge, too, is if you're a Fortune 100 company, you have a lot more financial ability to get a larger software. A big all-in-one software. But if you're a smaller organization, or a Mom-and-pop shop, it's a lot harder to implement those bigger softwares. And, so, trying to find that challenge; how do you balance that depending on which organization you're with?

Tom:               Yes, that's a great question. There are smaller softwares like QuickBooks Online and Dropbox, that people, typically, use when they're starting off. All the way up to SAP or NetSuite when they're the Fortune 100. So it really comes down to what is the budget and how customizable does it need to be.

Something like NetSuite requires not just getting the software, but hundreds or thousands of hours of customization, and implementation, and training. And what we really want to go for is finding out how the firm is interacting interna...

Unlock the mystifying world of cryptocurrencies and blockchain in this enlightening episode of Count Me In. Join our guest host Kelly Richmond Pope, accounting Professor and author, as she speaks with Lamont Black, an Associate Professor of Finance at DePaul University.  They navigate us through the complexities of blockchain technology, its relevance to accounting and financial services, and the turbulent landscape of cryptocurrency exchanges. Lamont takes a deep dive into how blockchain serves as the foundation of cryptocurrencies, elaborates on its inherent security and transparency, and paints a picture of its significant role in the future of digital commerce. We will also unpack the rise and fall of crypto prices, the risks involved, and how to safely engage with cryptocurrency exchanges. No matter whether you're a finance professional grappling with the challenges of a rapidly digitizing economy, or a curious listener wanting to unravel the world of cryptocurrency, this episode is an invaluable resource.

Connect with Lamont and Kelly:

Full Episode Transcript:
Adam:           Welcome to another enlightening episode of Count Me In. Where we delve into the pressing issues shaping our world and the business landscape. Today, we have the privilege of hearing a wonderful conversation between our guest host, Kelly Richmond Pope, accounting professor and author, and Lamont Black, an Associate Professor of Finance at DePaul University. They discuss an issue that is at the forefront of finance innovation; cryptocurrencies and blockchain technology.

Lamont brings his vast knowledge and expert insights to help demystify these complex topics and explain their relevance to the finance industry. So whether you're a CFO, a controller, a finance professional, or simply a curious listener, prepare for a deep dive exploration into the world of blockchain and cryptocurrencies. Let's get started.

Kelly:             So Lamont, thank you so much for joining me, today. And if you could start by just introducing who you are.

Lamont:         So I'm an associate professor of finance in the Driehaus College of Business at the DePaul University. So I'm one of your colleagues.

Kelly:             You are one of my colleagues. And, so, I want to welcome you to the IMA podcast series. And I have been working with the IMA, a little over a year. Working in research and thought leadership about ethics, corporate governance, risk, and you know my favorite love, fraud. And as we watch the news, read the news, what has just been in the news, so much, in the past, I'd say 18 months, is this really weird word called cryptocurrency. 

And when I came to you, originally, about trying to understand what in the world is cryptocurrency. What you shared with me was how important it was to understand blockchain. And what I want to do, today, is have you really break down the importance of understanding blockchain. Because what I think the world is getting a little scared about is when you keep hearing about cryptocurrency, these exchanges that are falling apart. And, I think, everybody is really skeptical of this concept of cryptocurrency.

But what I know you feel is, though, people might be scared of that. But you still need to understand the soundness and the value of the underlying technology, which is called blockchain. So could you tell us a little bit about what blockchain is and why we need to know about it as managerial accountants?

Lamont:         Yes, so blockchain is the platform behind cryptocurrency. And blockchain is a technology, that, I think, everyone should be trying to understand. It's really a system of shared record keeping. So if you think about how we now live, in the information age, most of what we do is involving data. That data is being stored and shared using different systems, today. Whether that's on the cloud or other types of servers, and the blockchain is a way of sharing information. So that it's recorded on a shared ledger. 

So you can really think of blockchain as a system of accounting. And what makes it different is that rather than these ledgers being held in a private form. Different ledgers on different institutions that, then, have to communicate, blockchain cuts across all those silos. It's a way of recording information across an entire network. Sharing that information with the network, that makes it very secure, very transparent, and very efficient for sharing information. 

So as we move deeper and deeper into the digital economy and e-commerce. I think every organization should be trying to understand how do we store and share information on the internet. I think blockchain is likely that next platform. And, so, even in the world of accounting, this is where things are likely headed.

Kelly:             So that's a great explanation, and it really makes me feel a lot more comfortable in understanding that. Although, I hear all this craziness about cryptocurrency, and cryptocurrency is just where you shouldn't put your money. You've made me feel a lot more comfortable about why I need to understand blockchain. But let me digress, for a second, what in the world is going on with all that we hear about FTX, and the collapse of these exchanges? What is that conversation even about? And how does that affect or how should it affect our opinion of blockchain?

Lamont:         Yes, so cryptocurrency is the money that is transferred across public blockchains like Bitcoin and Ethereum. And, so, people can own Bitcoin and Ethereum as digital assets, and crypto prices ran up, dramatically, during COVID. There are different arguments for why that occurred. 

But one of them would be the amount of monetary stimulus. As people had all these different sources of income coming in. Let's say through stimulus checks in the form of fiscal stimulus, that money flowing into the economy. A lot of that ended up in crypto. And, so, Bitcoin almost reached $70,000 for one Bitcoin by late 2021. And as we moved into this year and our economy started to slow, inflation started to rise, largely as an outcome of COVID, crypto prices started to collapse. 

Now, some people focus on the collapse of the crypto market as being something unique. But I just would point out that the stock market also entered bear market territory in the first half of this year, and in particular, tech stocks. So tech stocks are very risky. And, so, speculative assets during an economic slowdown, those prices tend to fall the most. 

I view crypto as a form of technology. It's the frontier of technology. So, to me, it's no surprise that as risky assets have sold off this year, crypto has gotten hit the hardest. Now, as it relates to the exchanges, that's really been the problem this year. Because most people when they buy crypto, they buy it on an exchange like Coinbase, here in the US, or FTX, which was an offshore exchange headquartered in the Bahamas. 

No...

Join us in this episode of Count Me In as we welcome our esteemed guest, Nykema Jackson, Head of Reporting, Policy and Technical Accounting at Airbnb. As we navigate the tides of remote work, hybrid models, and the aftershocks of the 'Great Resignation,' Nykema shares her insights into the art of staff development and leadership in these changing times. Discover how organizations can keep their staff engaged, foster open and trusting relationships, and leverage technology for connectivity and team building. Nykema also delves into the importance of empathy, clear vision, and timely feedback in creating a culture that inspires employees to stay and grow. Tune in to decode the leadership formula for the new world of work.
 
Connect with Nykema: https://www.linkedin.com/in/nykemajackson/

Full Episode Transcript:
Adam:           Hello and welcome to Count Me In. The podcast that brings you the latest insights and practical advice on leadership, accounting, management, finance, and business. I'm your host Adam Larson, and today we are delighted to have Nykema Jackson with us. With a rich background in consulting and a significant leadership role in corporate America. She's here to share her views on the pressing issue of our time; staff development and leadership in the era of remote and hybrid work models. 

As we explore the new paradigms that have emerged in the wake of the Great Resignation, let's dive into the conversation to learn how we can foster engagement, trust, and growth in these transformative times. Please join me in welcoming Nykema to the show.

[00:00:43]       < Music >

Adam:           So, Nykema, thank you so much for coming on the podcast today. We're really excited to have you on, and today we're going to be talking about staff development and leadership. Which is a big topic today because in the last three years we've seen a lot of changes. With the change to working from home. And, then, now, as things have gone back, going back to hybrid. And we've had terms like The Great Resignation and quiet quitting being thrown at everybody. 

And, so, as we're talking about that, can we maybe discuss, from your perspective, how do you see an organization can keep their staff engaged and continue to develop them in the midst of all this?

Nykema:       Sure, and thanks so much for having me. One thing that I've seen in my career, and I've come from a consulting background and, currently, I'm in corporate America working for a company. I've seen that individuals need leadership that knows and is very intimately versed in the mission of the company. That is invested in their employees. And investments from a learning and development perspective, as well as investing in them as a person. 

And, so, COVID has brought around this environment where we've merged lives. We had our work cells before we had our personal cells, and now those things have come together. I find that it's critically important to recognize and acknowledge that in people, and to support them down both avenues. And when someone feels invested in and developed, and they know the mission that they're marching towards. I feel that turnover is less and you can get around the big resignation.

Adam:           So I completely agree. As you continue to engage people, they will stay where they are. But, then, there's also the quiet ones who aren't really as engaged with what's happening. You can develop, and you can pour yourself into the people who are engaged and want to be there. But how do you grab those folks who are not quite there and want to be there?

Nykema:       So one of the things I do, personally, are one-on-one check-ins with my directs, and sometimes I do skip levels. You'd be amazed that for those quieter ones, how much they open up in a one-on-one environment. I think people need to know from leadership, and I feel like sometimes we get lost in our own trajectory and progression. We don't realize that as we rise in the ranks, there is a level of intimidation for people. So you need to make it an open-door policy, and you need to make people feel comfortable to come to you. And one way to do that is to develop relationships. 

But it takes a concerted effort on the leader to make time for that. Because it's not that time is on our side in a lot of situations, and COVID has created an additional barrier around that. Where people can't just pop in your office, they can't just see you in the hallway. They can't just strike up a conversation around the coffee machine. 

They have to be deliberate and intentional on making those relationships and fostering that along the way. And the only way to do that is to schedule the time. So that it can start to become organic. Where they feel more comfortable with their relationship, with leadership, and they'll come to you naturally.

Adam:           Yes, it's almost like you need to create some open-door Zoom call or open-door office hours on Teams, where people can just pop in at any time. Where they're able to do that, and the technology is out there. And how has technology helped you in the midst of the COVID era and able to reach out to people?

Nykema:       So, for me, COVID has opened up a whole universe of additional time, for me, it's saved me a commute. So I've been able to use technology, in a way, to connect with people, and I make it less transactional. So some folks get a little intimidated by being on screen. 

And, so, one thing that I've done is I don't multitask while I'm on calls. I silence my email so that I can really focus on individuals. And with the use of technology, we're able to do teaming events virtually. Sometimes we'll do happy hours, where we'll send a bottle of wine to individuals. I haven't done that on my current team, so don't tell them. 

But in the past, I've sent bottles of wine, or if there's something that they like around coffee, or something, gourmet, I would send that, and then we would have a virtual outing. And it gives people the flexibility to still be there for their families, and their children, and whatever extracurricular activities that they have. But we can, literally, pick any time of the day to do this now. Versus sequestering it to the end of the day.

Adam:           Yes, our team did a virtual wine and painting. Where they sent the wine and the painting thing, and then the person did it through Zoom and show us. And we'd all sit there painting, and drinking our wine, and it was actually quite fun. More fun than I realized it would be, doing it virtually. I never thought it could be like that.

Nykema:       Absolutely.

Adam:           Do you have any other examples of how you've been able to develop your team, in the midst of the COVID era. Even before the COVID era, where it was difficult for the team members to connect.

Nykema:       So one th...

In this illuminating episode of the Count Me In, we sit down with our esteemed guest, Janis Parthun, VP, Advisory & Project Services at RGP. She is a leading voice in the world of Environmental, Social, and Governance (ESG). Dive into the intricacies of ESG, understand its importance in a business context, and explore its different facets - from the environmental to the social and governance perspectives. We also delve into the challenges companies face in implementing ESG strategies, discussing the evolving regulatory landscape and offering insight into the best practices adopted by forward-thinking businesses. Whether you're an industry veteran looking to refine your ESG approach or a newcomer eager to implement an ESG program, this episode is brimming with valuable insights.

Connect with Janis: https://www.linkedin.com/in/janisparthun/

Full Episode Transcript:
Adam:           Welcome to another exciting episode of Count Me In. Today we have a special guest with us, Janis Parthun. VP, Advisory and Project Services, at RGP. She is an expert in the field of Environmental, Social, Governance or ESG, as many of us know it. 

Janis brings a wealth of knowledge providing a fresh perspective on the complexities and significance of ESG. She will walk us through the intricacies of ESG, discuss its growing prominence, and share valuable insights on its implementation. So if you're looking to understand ESG better, and how we can add value to your business model, this is one episode you won't want to miss. Let's dive right in.

Janis, we're really excited to have you on the Count Me In podcast. As we go into today, we're going to be talking about ESG or Environmental, Social, and Governance, and we hear a lot about that. IMA talks a lot about that. We've been publishing articles. There's a lot of things happening in the industry. But maybe we can start off just at a higher level and talk about what does it mean, what does it represent, in an organization?

Janis:             Yes, Adam, happy to do that. The term ESG or Environmental, Social, and Governance can really differ just depending on who you speak to. But I'd like to establish some initial background here. Where environmental focuses on the company's impact on the environment. On the risks, and opportunities associated with the impact of climate change on the company, its business, and its industry. 

Social may focus on the company's relationship with people and society, or whether the company's investing in its community. And governance focuses on issues such as how the company is run, and possibly connect to executive compensation. 

So ESG has been an important element to organizations approach to create value, as part of the business model, and just to the greater society impact. But what does this entail? Is what I often hear. And to elaborate a little bit more, a company's overarching ESG program will likely have top priorities determined around ESG matters. With goals, which includes metrics and possibly targets for future outlook has been set and established.

To reach the goals and the targets, the company may have various initiatives and action, in order to support the goals. For example, a company may have climate change as one of its ESG priorities or material topics, and a goal to reduce emissions with the target of 40% by 2040. The organization, then, may have an initiative or a project to convert all transportation fleets to electric vehicles, as a strategy to reduce the emissions. 

But when we're discussing ESG, at the overarching program or program level, this is applicable across multiple material topics or priority topics. Now, the topic of ESG is not new, and there are significant funds and investments around this. 

Currently, over 96% of the S&P 500 already, voluntarily, publish sustainability reports in some form or fashion. But an increasing interest from parties to invest, and companies wanting to communicate or report on ESG. Regulatory and standard-setting bodies are also paying attention to how companies are reporting on ESG matters.

Adam:           Definitely, and you see a lot of the bigger organizations implementing it. But smaller organizations may not quite be ready or there, yet. And if you are one of those organizations that are saying, "You know what, I want to jump into this, get into this." What are some steps that a typical company might undergo to establish an ESG-type program? Is there a specific, strategic, approach that you need to take when you're implementing that?

Janis:             Yes, that's a great point, Adam, and there is a recommended strategic approach to this. So the other aspect to think about is the ESG strategic roadmap or steps that companies, typically, may undergo to establish an ESG program. First, is really having to determine materiality. This is driven by stakeholder and market input, industry profile, business strategy, and suggested standards and frameworks. And, then, setting goals and targets and execute on the reporting. 

So establishing process and oversight to have that accountability, and report or update related to performance metrics. And, then, establishing quality control. Establish process and governance to ensure the quality control of the data that's collected or reported, and of course, reevaluate in that cycle. 

But, more often than not, companies are encountering challenges, during the midpoint stages of executing on the ESG program strategy. And this includes adhering to regulations, standards and frameworks, and just trying to stay current and up to date. There are several in the horizon, and it's a lot going on for companies to navigate through.

Program management and governance, having organizational governance over the ESG program, and monitoring and tracking against existing goals, appropriately, and evaluating progress. For example, do you have a governance process around adding or revising priorities or metrics? And monitoring the actions or involved in ESG committee that helps govern the goals set and tracked. And data quality management; is the information reliable? 

For example, is the information collected comprehensive to the metrics being tracked? Such as inclusive the various regions and markets. Is that information reliable? Such as is it trackable or include supporting details. And with each of these challenges, it's important to pull the right resources in to help and address.

Adam:           Before we get too much into the details of program management and those challenges. You've mentioned, a few times, about different regulating bodies have been watching in certain areas. There are regulations and new standards coming up, and that can be challenging for anybody and everybody. A lot of people are overworked. People are getting stressed out, and the idea of having more regulations to follow can be very stress inducing. But, maybe, you can talk a little bit more about how it's affecting companies and what people can expect?

Janis:             Yes, I can, definitely, elaborate that a little bit more, Adam, and dive a little bi...

Welcome to a brand-new episode of 'Count Me In' where we break down complex financial concepts into simple, understandable terms. In this episode, we unravel the mysteries of cryptocurrency and explore its volatile nature. We're joined by Jason Cozens, the CEO and Founder of Glint, who shares his insights into the current state of the market and explains why cryptocurrencies have become such a significant player in the global economy. Plus, we dive into the golden alternative, exploring how gold has held its purchasing power over thousands of years and how innovative technologies, like Glint, have made gold a feasible medium of exchange. Whether you're a crypto enthusiast or a gold advocate, this episode is packed with valuable insights that will help you navigate the world of alternative currencies.

Connect with Jason: https://www.linkedin.com/in/jasoncozens/

Full Episode Transcript:

Adam:           Hello and welcome to another episode of Count Me In. Today we're diving headfirst into the complex and ever-evolving world of cryptocurrencies. We're excited to have Jason Cozens with us. The CEO and founder of Glint, a global fintech platform. 

He's an expert in cryptocurrencies and alternative currencies, and he'll be sharing his extensive knowledge about the current state of the market. Why cryptocurrencies exist, in the first place, and their inherent risks. He'll also shed light on the appeal of gold, as a stable, risk-off asset, and how it's been modernized for everyday transaction with technologies like Glint. So if you're curious about the state of cryptocurrencies, or the power of gold, as an alternative, this episode is a treasure trove of information. Let's dive in.

Jason, I just want to thank you so much for coming on the podcast today. Really excited to have your expertise around cryptocurrencies and alternative currencies, in the market. And maybe we can start off by discussing cryptocurrencies and the state of that market, as it stands right now. 

Jason:             Yes, sure, well, I mean, before we start looking at exactly the state of the market, now. I think it's also important to understand why the market even exists and, then, just to touch on that for a second. Why do we even have crypto currencies? 

My movement into alternative currencies started in 2008 like a lot of people's journeys did for this. Where they realize that banks are not risk-free deposits of funds. When you put your money in the bank, it ceases to be yours. That money is put at risk, and it is lent out, it's a liability of the bank. And that's a problem for people and a problem for businesses that have money, and want to be able to put it into those banks. And, of course, we get all kinds of insurances from the FDIC et cetera. 

But, at some point, they're going to change the rules, and they've already passed legislation called bail-in rather than bailout. Which means that when, next time, there's a banking crisis, instead of the government's bailing out the banks. They might say to, actually, "We're going to do bail-in this time." 

Which means that if you've got a significant amount of money in the bank, they swap that for shares in the bank. Which you may or may not get back in a few years' time, and that's what they did in Cyprus, they tried it. They've passed the legislation. So it's something we've all got to be cognizant of. And, then, of course, inflation, and very few commentators are talking about one of the biggest drivers for inflation, of course, is money printing. And inflation is now rip-roaring through the economy, it's affecting individuals. It's affecting businesses.

I thought it was bad back in 2008, when governments are trying to keep it at around 2%. Over my lifetime, the dollar has lost more than 85% of its purchasing power, let's just think about that. 85% of its purchasing power, and that was before actually the surge in inflation, I calculated that. 

And, so, there's a need or people have been looking for something to hedge against systemic risks. They've been looking for something to hedge against inflation. 

And, also, generally speaking, the financial system is getting better at payments and cross-border payments. But, again, they're looking for efficiencies with that, too. So that's why we're in this space. 

Innovations around Bitcoin, model a lot on gold and other types of cryptocurrencies now, like Ethereum and even stablecoins, of what created what was a $3 trillion market. And, obviously, what we've seen this year is that $3 trillion market completely collapsed to below a trillion dollars. Which is a huge drop for anybody involved in the cryptocurrency industry.

But, yes, one trillion is still better than the kick in the teeth, and it's a significant industry, still, and I don't see it going away. And there's been a huge amount of money invested in that. But we all know it's been volatile. We've seen that volatility on a weekly, sometimes, daily basis. We've seen huge swings in the value of Bitcoin. For instance, it's gone down from $65,000 down to, I think, we're currently at about $17,000, something like that. And, again, that volatility is huge. 

But previous to that, of course, we saw huge gains. I mean, it went from three or $4,000, over a few years up to $65,000. So you can see the attraction and why people got involved in that. Hey, it's this fantastic growth story, and we can handle the volatility in the belief that that growth story is going to continue forever. 

But, I think, what happened when Russia invaded Ukraine was really telling. It was the time when we saw that, actually, cryptocurrencies are definitely what I consider a risk on asset. They're a speculative asset that may or may not work, may or may not stand the test of time. There's lots of optimism around it and, certainly, lots of ideas around how it can benefit society. But it's very much still a risky asset, as opposed to say something about other alternatives like gold, which are just considered slightly more boring, but risk-off assets and stuff. 

So when the Ukraine was invaded by Russia, then we saw the crypto price plummet, and we saw the gold price go up, for instance. But there's lots of advantages around this. Apart from even the hedging against inflation and the hedging against the systemic risk, and the payments technology, just generally speaking. 

The tech, the ability to program these currencies, is what's exciting a lot of people, isn't it? So I definitely think that crypto is here to stay. But we've all got to understand what it is and understand its nature. 

Adam:           Yes, we do have to understand what it is. Because you don't know it, it doesn't seem as solid as something like holding money in your hands. But then we all know that money doesn't have any backing anymore. And, as you've already mentioned, the inflation and the things with banks can be can be risky, as well. So as organizations are looking at to getting into alternative currencies, are there benefits that they can look at? You've already mentioned a lot of risks, but there have got to be benefits to getting into this. 

Jason:             Yes, ther...

Get ready for part two of our insightful ESG (Environmental, Social, and Governance) discussion on the Count Me In podcast. Our expert panel, Douglas, Dan, and Catie, unpack the pressures and fraud risks inherent in ESG reporting, offering invaluable insights gleaned from real-world scenarios. But it's not just about identifying risks; they also provide practical guidance for those embarking on their ESG journey. Learn how to start with what you have, concentrate on materiality, and establish a robust, cross-functional ESG team. Tune in for an essential roadmap to navigate the complexities of ESG reporting in today's business landscape. This is one episode you won't want to miss!

Connect with our speakers:
Catie: https://www.linkedin.com/in/ctserex/
Dan: https://www.linkedin.com/in/dan-mosher-8552519/
Doug: https://www.linkedin.com/in/douglas-hileman-fsa-crma-cpea-p-e-6abbb71/

Download the reports mentioned into today's podcast:
Achieving Effective Internal Control Over Sustainability Reporting
Managing Fraud Risks in an Evolving ESG Environment

Full Episode Transcript:
Adam:            Welcome back to Count Me In. Today we have part two of Unraveling ESG. We're joined, again, by Catie Selex, Douglas Hileman, and Dan Mosher for the completion of their conversation. Now, if you didn't hear part one, I encourage you to pause right now and listen to that first. In today's episode, we explore the challenges and risks of ESG reporting, including the potential for fraud.

Our experts delve into the pressures companies face and discuss real-world examples of how well-intentioned sustainability efforts can sometimes lead to misreporting and potential fraud. But it's not all about the pitfalls, they also offer essential guidance to those new to ESG. Emphasizing the importance of starting with existing resources, focusing on materiality, and setting up the dedicated cross-functional ESG team.

Don't miss this invaluable conversation, so let's get started.

[00:00:55]       < Music >

Dan:               Doug, I mentioned the ACFE's Fraud Triangle earlier, and I'm eager to hear some of your perspectives on applying that Fraud Triangle to ESG. 

Doug:             Thank you, Dan, it can be done too. It's a familiar construct, and I was fortunate to be an in-house at a Big Four when Sarbanes-Oxley hit. And at the very beginning of designing internal controls and testing internal controls, we had to consider the possibility of fraud.

We had to design controls to prevent fraud, in audits we had to detect fraud. 

Being an environmental specialist, and then with the IIA coming out with changing their IPPF, their framework, to require testing for fraud. I've been testing for fraud and considering fraud for 20 years, in the environmental space since 2002.

It looks a little different for ESG, but not as different as you might think. There is pressure, pressure can be, "We've got to get this report out."

"The customer wants this answer."

"We have to say, for example, that our products didn't come from Bangladesh, so what the heck? How will they find out?" There's so much pressure. I see that people are involved in ESG, in this non-financial reporting, as an add-on to their jobs. It might be 20% of their job, and it's the 20% between 120 and 140% of what they're supposed to do. People are under, and companies, are under tremendous pressure to put the right answer out there. 

They have the opportunity to do so because the controls are not designed, and have not been implemented with the potential for fraud in mind. So where there are weak controls or no controls, the opportunities are there. I see this comes into play, also, when data and information comes from outside the organization. 

There's this tricky thing where so much of what we do, in ESG, is not only what the organization controls but what the organization can influence. There are some challenges there, how do you control what you don't control? 

So the opportunity is there because the controls can be weak or nonexistent. And the rationalization can be, "Well, everybody does it." 

Or "It's not about money, it's about prestige."

"It's not really this, we want the award." We've seen, for example, there's a magazine, an organization, that rates colleges, the 10 best colleges in each thing. And we've started to see, in recent years, where the colleges are even fudging the information to get the prestige of being in that award. That may have secondary effects for how many people go to that college or what they're willing to pay for tuition, but that's fraud. 

In my book, if you submit data and information that is incorrect, or inaccurate, or misleading, with the intent to deceive at the expense of others. Especially if that turns into actual or potential financial gain, I call that fraud. So that applies on all three sides of the triangle. It's just a matter of thinking about this ESG and non-financial world and how that can happen.

Dan:               Excellent, Doug. Yes, maybe, just to add a couple of extra points around those pressures and incentives. Today we are seeing that there is incentive compensation for certain executives that is linked to various ESG measures. If you think about that and the opportunity for management override of certain controls that are out there, that's a great incentive. 

If you're going to get paid a bigger bonus because of greater ESG metrics, and your ESG, for example, your emissions information is held in Excel spreadsheet, which in many cases that is the case. I saw a survey, not so long ago, of more than a thousand executives saying that, I think, it was 86% of them had their emissions data just sitting in a spreadsheet.

And if you could change that with a few keystrokes, at the executive level, to boost your bonus, someone might do that. Other things I think of are from an incentive or pressure standpoint. Things around ESG-linked bonds or credits where there are a key performance indicators and you're required to maintain those metrics, to maintain certain interest rates or payment on your bond. Those things are out there and they're going to influence some portion of those that are held to them. Catie, maybe, you have some other thoughts around this as well?

Catie:             Yes, Dan, so one of the things that we're seeing in ESG, especially because people are so compelled to make great strides on their data and to make progress towards their targets, in a very quick manner, is there's an emerging market of solutions that some are absolutely l...

As highlighted in the recent COSO publication on Internal Controls over Sustainability Reporting, good governance and systems for sustainable business activities and ESG reporting require attention to potential risks around fraud and greenwashing.  Reflecting Grant Thornton’s recent report on control activities related to these risks, join us as we take a dive deep into the world of Environmental, Social, and Governance (ESG) in business with our latest episode of the 'Count Me In' podcast. Hosted by a panel of experts, which includes Catie Serex, Douglas Hileman and Dan Mosher, our podcast uncovers the truth behind ESG, its importance in today's business world, the challenges it presents, and importantly, its potential role in fraudulent activities. Tune in for a fascinating conversation on ESG reporting, corporate purpose, sustainability, and the latest trends affecting investors, employees, and stakeholders alike. Don't miss this chance to stay informed and ahead of the curve in the ever-evolving world of business.

Connect with our speakers:
Catie: https://www.linkedin.com/in/ctserex/
Dan: https://www.linkedin.com/in/dan-mosher-8552519/
Doug: https://www.linkedin.com/in/douglas-hileman-fsa-crma-cpea-p-e-6abbb71/

Download the reports mentioned into today's podcast:
Achieving Effective Internal Control Over Sustainability Reporting
Managing Fraud Risks in an Evolving ESG Environment

Full Episode Transcript:
Adam:           Hello, and welcome back to another enlightening episode of Count Me In. I'm your host, Adam Larson, and today we're diving deep into the complexities of Environmental, Social, and Governance, ESG, with a distinguished panel of experts. We're joined by Douglas Hileman, an experienced sustainability consultant, with over three decades of experience in environmental management systems, and internal controls. 

Alongside him, we have Dan Mosher, a seasoned professional who excels in helping businesses navigate the complexities of sustainability and environmental risks. Last but not least, we welcome Catie Serex. A leader in environmental, health, and safety, auditing and management who assists businesses in integrating sustainable and socially responsible practices. 

Today's discussion will delve into the importance of ESG, the challenges businesses face in managing ESG data, and the potential risk of fraud in ESG reporting. Here we go, let's listen in together.

[00:01:00]       < Music >

Doug:             And one of the things that we might kick off is with a very basic question of what is ESG? Dan, when people ask you this, how do you answer?

Dan:               Well, it really is a big umbrella, and I'll ask for some help from Catie in this regard. But ESG stands for Environmental, Social, and Governance. And, so, lots of things under that environmental area. Everything from waste management and air quality, climate change. From a social perspective, it could be your human capital management, health and safety matters. Governance, I think of anticorruption, data risks, and the like. So it really is a broad title when we say ESG. Catie, do you have some things you'd like to add to that comment?

Catie:             Yes, Dan, you definitely covered the gamut as far as some of the phrasings and the terminology, and really the topics that fall under that ESG umbrella. What I would want to add is that ESG is certainly one of the buzziest words in business today. But you might not know that ESG is, very simply, the newest iteration of concepts you've likely known for a long time. It's been previously known as corporate purpose, sustainability, even philanthropy. 

But what differentiates ESG from these previous versions is that it now represents the closest alignment, to date, of business operations, so think about your tangible assets. To those intangible elements of business that drive value. And, in this case, I'm referring to things like customer loyalty, labor environments, community engagement support. And because of this connection, ESG is moving from a nice-to-have to a need-to-have for companies, but also their investors, their customers, and other key stakeholders like their employees.

Doug:             I also think of ESG as a convenient taxonomy for all things non-financial. Many people have published those pillars or the word clouds that's in the ACFE report, and what topic goes where. For financial reporting, we know where sales goes and we know where EBITDA goes. We know where those are in a format and how to put the data and information together for clarity 

and reporting. For all things non-financial, it's just such a sprawling array of topics that ESG serves for one reason, in one way, as just simply a taxonomy. And there are some issues, such as climate change, like Dan mentioned, that really transcend more than one category, if you will. But for purposes of just where do you find it, and how do you manage it, and it can just serve as a taxonomy. Catie, to your point, on how to organize some processes, some controls, some recordings to understand what the organization is doing.

Dan:               And I'd be interested in hearing your thoughts on the various channels in which this information is being put out there in the public. Catie, maybe you have some thoughts around the wide scope of that.

Catie:             Yes, so in terms of the reporting side of things and getting to the nuts and bolts of what, I'm sure our listeners are interested in, in terms of, what am I on the hook for? There are a lot of reporting frameworks out there that are guiding folks. And I know that that's been a point of confusion for people is understanding, there are all these different acronyms out there. That I can report to like SASB, or the Global Reporting Initiative, GRI, Task Force for Climate-Related Financial Disclosures or TCFD. There are a lot of frameworks out there, but the field is narrowing. 

So some of the communication that we've been seeing from these wider umbrella frameworks, are that they are working together to consolidate. To make things a little bit more straightforward, and to make things a little bit more uniform across the reporting landscape. But that's currently in progress, and this is just a result of this being not in nascent stages, but still in its growth period, and really honing down what are the things that shareholders, regulators, and such need to see when it comes to these ESG disclosures.

Dan:...

Discover the secrets to unlocking employee engagement in this eye-opening episode of the Count Me In Podcast. Join us as we welcome Sarah Rubenstein, Chief Accounting Officer at Clearway Energy, as she shares valuable insights into employee engagement, strategies to transform disengaged employees, and the importance of creating inclusive communities within the workplace. Don't miss this chance to learn how to maximize productivity and employee satisfaction in your organization!

Connect with Sarah: https://www.linkedin.com/in/sarah-rubenstein-a724632/

Full Episode Transcript:
Adam:           Welcome back to Count Me In. In today's episode, we're thrilled to have Sarah Rubenstein, Chief Accounting Officer at Clearway Energy. With us to discuss the crucial role that employee engagement plays in an organization's success. 

Sarah brings her extensive experience in cultivating positive work environments to the table. Offering valuable advice on identifying disengaged employees, implementing effective strategies to boost engagement, and the benefits of fostering an inclusive, collaborative workspace. Stay tuned as we uncover the keys to unlocking a happy, productive, and thriving work environment.

Adam:           Well, Sarah, thank you so much for coming on the Count Me In podcast, today. We're really excited to have you on, and today we're going to be talking about employee engagement and all that that encompasses. And maybe to start off, maybe, you can start by defining what is employee engagement to you.

Sarah:           Sure, to me, employee engagement is how positive people feel about their work, and we measure that in a lot of different ways. But, really, I'm lucky, the company that I work at, we survey our employees every year, regarding employee engagement. And we ask some really good questions that were developed by very smart people at Harvard, and Yale, and Stanford, that tell us how engaged people are. 

And, so, we're able to evaluate, and a lot of the questions relate to things like management, leadership, integrity, work-life balance, workload, allocation, autonomy, and things like that. And all of those factors really tell us how engaged our employees are.

Adam:           That's interesting, and when you mention engaged, a lot of times when you see discussions about employee engagement. You see engaged employees versus disengaged employees. And, so, maybe we can start by talking about that a little bit. Because you have your engaged employees, and you can usually tell who those are. But the disengaged maybe a little harder to see, or maybe not so hard, depending on what they're not doing, I should say.

Sarah:           Yes, sure, and the first indication we have, that some employees are not engaged, is that they don't answer the surveys. So we don't get 100% participation. So that tells us that some people feel like maybe their voice won't be heard, even if they answer. And those people, usually, just have a negative outlook, maybe, on what type of work they're doing or their future within the company. 

And, so, a lot of times, you lose the engagement when people feel like there's no career development path for them, or the work that they're doing isn't valuable, or they're not being told that the work that they're doing is valuable.

Adam:           And that can be very difficult for an employee, especially, when you don't feel like you can't move up in an organization. How do you take somebody who is disengaged and try to get them to be engaged?

Sarah:           That's a great question, and, especially, when you don't have a development path for a person, it is really challenging. And, so, what we try to do is we try to provide a lot of personal and professional development opportunities. And we talk to our employees about how those types of opportunities can help them develop themselves. Whether for this particular company and role or just in general for their career. So we try to offer them opportunities to learn and also to, maybe, work in an area that isn't related to their job. 

So we try to look for things we call stretch assignments. Where there might be an opportunity in another group, where someone needs help with a special project, and that might give that individual the opportunity to learn new skills that they can put on their resume, even if it doesn't give them direct path to promotion. So we try to demonstrate what we can offer the employee, even if it isn't upward mobility, and that maybe we can't keep them forever, but we can keep them a little bit longer, and that helps us overall.

Adam:           Yes, because it shows that you care and that you're engaging with them, even though they seem to be disengaged. And, so, it encourages them, even if there is no upper mobility at that moment.

Sarah:           Right, because everyone is looking for some type of personal development, even if they don't see a future for themselves at that company. So we try to offer something for everyone. If you don't see yourself as a leader at this company, that's okay, we'll work with you on how you can make yourself a better employee and a better person. So that, at least, we can keep you around, and have you feel happy to be working at the company for the time being.

Adam:           Mh-hmm, that makes a lot of sense. So maybe we can focus a little bit on what are some benefits, to organizations, to creating an engaging environment?

Sarah:           I haven't read all of the studies, but there are numerous studies that show that engaged employees are better employees, they're more productive. Of course, we know that hiring new employees, and training them, and getting them up to speed is very expensive and time-consuming. And, so, it benefits us to take the time to develop programs to promote employee engagement. Because, overall, we end up with better productivity and just a better workforce.

Adam:           I mean, that makes a lot of sense to want to have a better workforce, especially, when they're engaged. And, so, maybe, we can talk a little bit about what do you need to look for, especially, when your team is not engaged. Are there certain signs that you can look for? Obviously, you mentioned you can tell people are not engaged when they're not taking a survey. But then what are other signs that you can look for, within your team, if you can talk a little bit about that?

Sarah:           Yes, no problem, I think, there are  a couple of different signs that I look for. Generally, I look for people who aren't participating in the conversations, who don't speak up in meetings. People who have been doing the same work for an extended period of time. 

And, of course, you look for the signs of people who are not responsive. They're taking a ...

Join us on the next Count Me In as we delve into the world of accounting and finance with Megan Weiss, YP and General manager, FAO services and host of the CFO weekly podcast at Personiv. Learn about the talent shortage in the accounting industry, the benefits and challenges of outsourcing, and how recent events have impacted the profession. Don't miss this insightful conversation about the future of accounting and how companies can adapt to thrive.

Connect with Megan: https://www.linkedin.com/in/megan-weis/
Check out the report mentioned in today's episode: https://insights.personiv.com/reports/cfo-talent-survey-report

Full Episode Transcript:
Adam:           Welcome back to Count Me In. Where we explore the world of accounting and finance with industry experts. Today we're thrilled to have Megan Weiss join us. With a rich background in accounting and consulting, Megan currently leads the Finance and Accounting Division at Personiv. She's here to share her insights into the talent shortage, in the accounting industry. The pros and cons of outsourcing, and how recent events like the Great Resignation and quiet quitting have shaped the profession. Let's dive in and learn from Megan's wealth of expertise and knowledge.

So, Megan, I want to thank you so much for coming on the Count Me In podcast, today. And I wanted to start off, a little bit, by if you could just give us an overview of your background and how you got to where you are today.

Megan:           Yes, sure, and thanks for having me. So I graduated with an undergraduate degree in accounting from Kent State University. I managed to pass the CPA in my final semester of school there. So right after school, I went to work for Deloitte & Touche, one of the Big Four accounting firms, and I was with their audit practice. I stayed and served my time for about three and a half years. 

When I left there, I went to work for Pricewaterhouse Coopers in their transaction advisory services group. Where we were looking at helping organizations who were getting ready to purchase a business or sell a business, just to determine if it was a good fit. If they were paying a good price for the business. 

From there I went to work for British Petroleum as a financial analyst. I left there after a couple of years to work for Accenture and that was back in 2003, and that was when I was introduced to the idea of outsourcing, it was pretty new back then. Not a lot of companies were doing it and the ones that did do it were very large enterprises. 

So I stayed there for 13 years, and while I was with them I went back to school. I got my MBA from Duke University. I left Accenture to then work at a small boutique consulting firm here in Dallas, Texas. It's called Everest Group, and it is a consulting group that focuses on outsourcing service providers and companies with shared service providers. 

And, so, my role there was to focus on finance and accounting and I was really looking at the service providers, and their visions for the future, and where the finance and accounting outsourcing industry was headed. And, then, while I was there, I did a project for the company I am at now, it's called Personiv. And the project I did for them was to take a look at lines of service that they should consider getting into. 

So, although, they'd been around since the mid-'80s, finance and accounting was never really on their radar as something that they should maybe venture into. So during the course of that project, finance and accounting was one of the things that we suggested that they branch into. And, so, when they decided to go down that road they reached out to me, brought me on to start it up. 

So I've been here now for five years, it's been a really exciting journey. It's like being in a startup organization, but with the backing of a company that's been around for 35 years. So that's how I got to where I am today. I feel like it's a good culmination of everything I've done to date.

Adam:           Yes, that sounds great. You've had quite the story going of a bunch of different places, but it shapes who you are and how you see everything in the accounting world. And one thing that you and I had talked about is that there is a talent shortage, in the accounting and finance world, when it comes to having to outsource, it's because you have a talent shortage, and it's been around for over 15 years. Reading articles of people saying, "Oh, it just showed up during the pandemic." But as we talked about your experience, previously, you're saying, "Well, no, it's been around for a long time."

Megan:           Yes, I mean, I would say it's been around for, at least, the last two decades. When you've read top challenges for CFOs, over the last two decades, talent has always been one or two, on that list. And, I think, it really started way back in the early 2000s, when they decided that they would make accounting a five-year program. In order to sit for the CPA, you needed a master's degree, and that's, maybe, when people stopped going into the study of accounting.

And, really, it's been around and becoming more and more of a problem, every year since. And back in 2015, the AICPA, which stands for, actually, American Institute of Certified Public Accountants, and they were predicting that by 2020, 75% of their members would be retired. And I know not every accountant is a CPA, but that's a good indicator of where the profession is headed. 

And, then, you add, on top of that, millennials and Gen Z's, who are looking for more meaningful work. And accounting, historically, has not necessarily been seen as an area that is conducive to meaningful work. So, yes, it's, definitely, been exasperated in the last three years since COVID hit, but it's been a problem for a long time coming.

Adam:           So if you're in an organization and you recognize that, "Hey, I need more talent in my accounting team." What are some benefits that they can see when they think about outsourcing their accounting and finance team?

Megan:           Yes, well, in the years past, outsourcing was really about just cutting cost, and it was all about the cost, savings. But, today, it's really about opening up a new pool of talent. A pool of talent that's equally qualified as the talent you would find, if you could, here in the United States. 

So, yes, it really is just a wonderful way to find very talented accountants. And on top of that, if a client chooses, I mean, you can have 24-hours coverage. You can have people that work here in the United States. You can have a team that works over their days, which is on the other side of the world.

So you're basically getting 24-hours coverage. But a lot of times, consultants or outsourcing providers, have people that are willing to work nights. 

Because that's not uncommon, in India or the Philippines, where a lot of this outsourcing is done, for people to work overnight in support of U.S. companies. 

And as I mentioned, ...

Dive into the world of fintech with our latest episode of the Count Me In podcast, where we discuss the transformative power of financial technology for businesses of all sizes. Join us as we chat with Joe Keeley, the CEO of Justify, a company dedicated to accelerating the fintech potential of software platforms. Discover how companies can leverage fintech tools to reduce costs, enhance revenue, and offer new services to their customers. From the giants like Amazon and Starbucks to small businesses, the opportunities are endless. Don't miss this insightful conversation that will change the way you think about the financial landscape.

Connect with Joe: https://www.linkedin.com/in/joekeeley/

Full Episode Transcript:
Adam:           Welcome to Count Me In. Today we have a special guest, Joe Keeley, CEO of JustiFi. Joining us to discuss the world of fintech and its impact on business. We'll explore what fintech really means?

How companies can harness its potential, and why it's important for businesses to understand the various tools available in the fintech toolbox. Joe will also share are some fascinating success stories and insights on how companies can thrive in this financial, technology-driven world. So let's get started and delve into this exciting world of fintech.

So, Joe, I want to thank you so much for coming on the podcast, today. We're really excited to have you on and we're going to be covering the topic of fintech, and that is a big buzzword in the industry right now. And I was hoping that we can maybe start with defining where you fit in the fintech world, and we'll continue on from there.

Joe:                 That's great, thanks for having me, Adam. And it is, I think, fintech is one of the biggest buzzwords that's out there. It's been said by leading venture capital firms that every company should be or will be a fintech company. So it's like, "Okay, well, that's a lot of pressure."

So first of all, I think, we need to step back and say, "What is that mean?" I mean, it's just an abbreviation, just flat-footed, first, it's financial technology, which can mean so many different things. But, for us, the company that I lead is called JustiFi and we exist to do just that. To accelerate the potential or the fintech potential of other software platforms. 

So in that context, it turns out that a lot of companies that are out there, one of their major, or their biggest, or only economic engine is not actually selling the product, or the service, or the access, then, that is there in plain sight. 

So, for example, software platforms, there are many software platforms that sell a SaaS fee, and they charge you to use it. But that is simply the Trojan horse to get funds flow. So they're making money on payments. They're making money by offering additional fintech products like embedded insurance, embedded lending, card issuing. 

So when you think about interchange that, deliberately, opaque monster that no one really seems to understand. You can make money and participate on interchange, by lowering your costs and keeping your price. And you can make money on interchange by participating at being high, too, by issuing cards. So there's just a lot in there. But, ultimately, what we do as a company is help platforms with their economic engine being fintech, and we provide infrastructure and a team to help them do that. 

But it's interesting for all companies, not just software companies, to think about and try to understand what are the different tools in the fintech toolbox, 

and how could they be applicable to your business, big or small? Whether that be through cost reduction, or an area that's typically not talked about by finance and accounting professionals is enhancing the revenue.

Adam:           Totally, and I think the other part of the problem that we run into, with every company being a fintech company is that, you and I were touching on this a little bit before we started recording, where does it live? Your IT team has to manage it and finance has to touch it, but nobody really owns it. And how can you really fully manage it if no one really owns the software, when it's within your company?

Joe:                 Yes, and that is a really big issue. And part of our JustiFi, we have what we call our tech infrastructure, but we also have an engaged fintech team. Where we have a dedicated chief payments officer. A chief fintech officer that's available to our clients because they sit in between finance and accounting, and product and engineering or IT at a particular company. But I would think one of the things that I would really encourage and if multiple people own something, to your point, Adam, then nobody owns it. 

But to finance and accounting professionals, to really take the ownership of how can we and challenging the status quo. Does this 3% need to be 3% when we collect or how could we think about differently on lowering cost? 

How could we think differently on what adjacent revenue streams could be available to us. Where you're enhancing the offerings to your customers? It may not be the core product but, ultimately, it's been said that on every dollar in commerce, there's up to 10% of that. So a thousand basis points that is available and leaks out, whether that's in fees-in fees-out, early pay discounts, all of these different things. 

So I would encourage from a strategic perspective, it's one that finance and accounting can own this. Implementation of how it's working is more product and engineering.

Adam:           Of course, an example that comes to mind is I just saw an article, a couple of days ago. Where Amazon is going to start accepting Venmo as a payment option. And if the big behemoth, Amazon, can start accepting Venmo as a payment. What possibilities are there for every company to accept different types of payments, and be more creative using technology?

Joe:                 That's right and, sometimes, you're accepting a type of payment like Venmo or a buy now, pay later, and it's actually a more expensive payment method. Those are more expensive payment methods, then credit card and debit card, and then bank transfers, and ACH, going all the way down. And you do that because you're trying to get more customers or you're trying to ease the customer journey, the customer experience. 

But in terms of every company being a fintech company, you want to make those choices with your eyes wide open. Because what if you could monetize or make money on that payment flow? And it takes certain kinds of architecture to do that. But just understanding the space, it's the first step. Why are we doing something? 

What is it actually going to cost?

And there's just an immense amount of opportunity that exists there. But basis points can matter at scale, they very much matter at scale.

Adam:           Yes, especially, when it's affecting your bottom line in the long run. Es...

Dive into the world of ESG (environmental, social, and governance) at IBM with our latest episode of Count Me In. Today we discuss the challenges and successes of implementing ESG objectives in a global corporation. Join our Guest John Mahoney, ESG External Reporting Project Manager and hear how IBM's commitment to sustainability, open communication, and cross-functional collaboration is driving positive change and shaping the future. If you want to learn how to navigate the complexities of ESG and unlock new opportunities, don't miss this episode! 

Connect with John: https://www.linkedin.com/in/johnmahoneycpa/
IBM Impact: IBM's ESG Framework | IBM

Full Episode Transcript:
Adam:           Welcome back to Count Me In. In today's episode, we're joined by John Mahoney, an ESG external reporting project manager, IBM. He shares his unique journey and insights into the company's approach to ESG integration. We discuss the importance of having the right company culture. Support from leadership, and cross functional collaboration to make ESG initiatives successful. So sit back and relax and let's explore how IBM is uniting for a sustainable future.

Now, John, I want to thank you so much for coming on the podcast today. We're really excited to talk about ESG, and ESG at IBM. And, so, many professionals, in this space, have been reluctant to engage with ESG for a number of different reasons. But maybe you can start with talking about what your journey is, was to get here.

John:             Of course, and my thanks to you, Adam, and the IMA, for having me. I'm excited to be a part of the Count Me In series, it's really great. In terms of my story, I'd say I've had a relatively conventional accounting background, in that I spent the first chunk of my career in public accounting. Splitting my time between audit and advisory services.

Where I was fortunate to have the chance to work with some really great clients, and help them navigate through complex and challenging topics. Spanning from the adoption of accounting standards, acquisitions, carve-outs, stocks implementation, as well as, some SEC reporting jobs. 

So I was really grateful to have seen so many different things, early on, in my career, in public, and I knew I wanted my next role to be dynamic as well. So I was very thankful to have landed at IBM. First joining the Accounting Practices and External Reporting Organization, which is really a consultative group focusing mostly on technical accounting consultations, as well as the preparation of IBM's periodic SEC filings. 

I had always enjoyed the reporting aspect of the job, and helping companies craft their stories and messaging to external parties. So I knew I wanted to stay close to that and I was grateful that the opportunity at IBM afforded me that. So, as you can tell, I don't have an ESG background, but I did know I wanted to continue to explore new topics. And with all of that being said, I had been keeping an eye on the energy in the ESG space, and I had expressed interest to stay involved wherever possible within the group. 

So when the opportunity arose to make it a full-time job, I jumped right in headfirst. And really saw this as a great chance to apply the skills that I've been working on, thus far, in my career to a new area and one that was not only hyper relevant, in the time, but also deeply purposeful in terms of subject matter. 

We spend a lot of time working on dollars and cents related topics and working through financial statements, and this was just a really exciting opportunity to apply my skill set in a different forum. 

So, well, I can't speak to reluctance, personally, I'd even venture to say that we're probably passing the point of reluctance. But for those that are hesitant, I'd encourage everyone to engage and start exploring the topic and draft standards. 

While it is gaining more momentum as a topic, there's still only a small amount of accounting folks that are focused on it currently. And with the rules still being written, it's a great chance to get in on the ground floor and establish yourself as a go-to person, not only within your organization, but really the space at large. So really excited to be a part of the journey, and keen to see where it takes me and all of us at large.

Adam:           And I'm really excited to hear about your journey, as we've heard other people's journeys when it comes to ESG. I find that everybody's journey is different and I feel that that brings a real diversity of thought into the ESG space. Which is needed in something that's growing and something that's just starting out, you need to have many different perspectives.

John:             I couldn't agree more, and everyone I've engaged with have been coming from a diverse background. And some folks have that key SEC reporting or accounting footing, and other folks, perhaps, have spent more time in true-blooded ESG functions, if you will. I think between the pending rule on SEC climate, the Corporate Sustainability Reporting Directive in Europe, the ISSB standards, we just haven't seen anything of this magnitude all at once. 

So bringing together a diverse group to really tackle this watershed moment for the profession. It's going to have broad impacts on not only finance and accounting organizations, but organizations for years to come.

Adam:           Yes, definitely, so when organizations bring on ESG into their organization. You have to start combining the ESG objectives with the overall objectives of the organization. How does IBM go about harmonizing those objectives?

John:             Yes, so, no surprise, IBM is a large company. We've got more than 280,000 employees, globally, operating in more than 170 countries. So with that scale, and for the scale of most large companies, there's always countless initiatives and objectives that need to coexist, simultaneously. 

We are lucky in that IBM does have a great legacy with ESG just as it relates to climate. We incorporated our first environmental policy in 1971, and began reporting on CO2 emissions as early as 1994. But truly have a deep history in all three pillars of ESG. So that legacy is great, in that it not only gives us a head start in navigating the landscape and proposed rules. But it also has helped establish responsibilities within the organization, as well as avenues for communication between groups. 

So really fortunate to have that legacy. But even with that head start, recent activity in the ESG space comes with even more and it adds incremental objectives that we all need to navigate. Including pending regulations that I've mentioned. Rating agency requests, shareholder needs, analyst inquiries, and countless other internal and external factors. 

So really important to emphasize how important that open lines of communication and regular touch points with different functions are. And, also, the importance of educational sessions to bring awareness of what other functions are managing and striving towards.

Leadin...

In this episode of the Count Me In podcast, host Adam speaks with Matt Druckman, an expert in the field of crypto accounting, about the challenges of accounting for digital assets. With no authoritative guidance in place, Matt explains the framework of best practices and opinions that have been pulled together to guide the industry. However, as the nature of crypto and digital assets is changing rapidly, there is a need for increased vocalization and guidance from regulatory bodies such as the FASB. Matt also highlights the complexities of cost basis and accessing and making sense of data, which can present challenges for accountants as they try to categorize and report on digital assets. This episode is a must-listen for anyone interested in the field of crypto accounting and the future of accounting for digital assets.

Connect with Matt: https://www.linkedin.com/in/matthew-druckman-60a21938/

Full Episode Transcript:
Adam:           Welcome back to Count Me In. The podcast about all things affecting the accounting and finance world. In today's episode we explore the world of crypto accounting with Matt Druckman, currently, the Vice President of Business Development at Soft Ledger. A company focused on helping companies get their data faster. 

Despite the existence of non-authoritative guidance, there is still no clear framework for crypto accounting. The lack of clarity is due to the, constantly, evolving nature of digital assets. Which are not easily categorized within traditional accounting practices. Join us as we navigate the Wild West of crypto accounting and discuss best practices for accounting, in this rapidly changing field.

Matt, thank you so much for coming on the Count Me In podcast today. I'm really excited to be talking to you about crypto accounting. And, as everybody knows, Bitcoin has been around since 2008. But when you look at the authoritative guidance there is none, it feels like the Wild West. And maybe, as an expert in the field, you can talk a little bit about what it looks like to be in the crypto accounting space.

Matt:             Great, thanks so much for having me on, Adam. Happy to get into this a little bit with you. You're exactly right, there is not authoritative guidance, yet, on the topic. What we have is non authoritative guidance. We have this framework of best practices and opinions, that have been pulled together that folks are following. 

There's a really good practice aid that the AICPA put out on accounting and auditing digital assets, and that's proven to be very helpful. But there is not this authoritative framework for people to follow. So everyone's still figuring this out and the nature of crypto, and digital assets, and their evolution is it's this breakneck pace. Things are changing on a daily, weekly, basis. 

So there's, definitely, a need and an increased vocalization to have this guidance in place. And it does look like the FASB is really starting to take a harder look at this, we'll probably get into it a little bit later. But there's been some momentum, recently, specifically, in October, but right now it's still early days.

Adam:           So when we think about accounting. It's been the same since the 15th century, when the first accountants came into place and they were writing their entries. The accounting has pretty much been the same at its core. And when you look at digital assets, they don't really fit that core. And, so, what does that look like, especially, prior to this FASB vote that happened in October of 2022?

Matt:             Yes, it's a great point. And, so, you have this new asset class, digital assets, come into play here, and we need to figure out a way to account for them. And, I think, that's where some of this complexity has really arisen, is trying to figure out where to put these. And then once you put them there, what guidance are we following? And there, probably, isn't a one-size-fits-all and that's what's happened. 

And, so, currently, or prior to this vote, digital assets, for the most part, were treated as intangible assets, and following the guidance within ASC 350. And, so, as a result, you also need to follow the impairment guidance that exists, and it doesn't quite match up with the economics of what's taking place with a lot of these assets. Where you have these very active markets, readily available prices. 

And, so, the idea of marking down an asset, and pairing an asset, when there is an event, which would theoretically be anytime the price drops below cost. You're never going to be able to write that back up. And that just doesn't quite make sense, in terms of how people are viewing these assets, and how they're using them, and they're leading to some very material impacts on financial statements. 

And, so, that in and of itself is an area that people have been very vocal about, and trying to take a better look at how these should be classified and updating how we're accounting for them.

Adam:           So, Matt, are there any more complexities that accountants have to be aware of, as they're really getting into the nuts and bolts of this accounting?

Matt:             Yes, the cost basis piece is definitely a tricky one that we've addressed, and that can present a lot of issues, especially, with higher volumes. But another one that should be known is just the accessing and making sense of your data. It sounds like something that should be so simple. 

You have these series of transactions that are taking place on an exchange, or within a wallet, or on a blockchain. And you're just assuming that you can pull that data down, easily, and it's all going to make sense, and everything's going to be nicely categorized and classified the way you want to see it. And that's really just not the case, at least, not in all cases, some have better data outputs than others.

But, especially, as you start to get into more complex transactions and, maybe, you're getting more involved in DFI's, or dealing with NFTs, or just different less-plain vanilla transactions, if you will. Being able to make sense of the data that you're pulling down, and tag that properly, and ensure that that's going to be getting into the system in a way that you want to report on it. 

It can be a bit manual. There could be a process that needs to take place, to make sure that you're properly categorizing everything and getting it into the system. It's not just going to pop out of an exchange or another data source, and everything's going to be nice and neat. So I think that going into it, knowing that there's going to need to be some work there and probably some processes that need to be ironed out. 

Certainly, if you have maybe a little bit more of a sophisticated operation, and you're capable of putting a business logic layer on top of that data before it gets into your platform. A system like ours, like Soft Ledger, that's programmable via API, that's one way that data could be ingested. 

So there are some things to help automate that and smooth that process, but it can be a bit manual. I would think that in the future, as there's more reg...

Graham Stanton and Edgar Thomas co-founders of Advise  join Count Me In to talk about the current state of the market for accounting technology and the status of the industry today, which is constantly evolving. They discuss the lack of innovation in the accounting technology market and the pain points that practitioners face when using traditional tools. They share their vision for changing the status quo and making the accountant's job easier by reducing manual processes and reporting financial data more accurately and timely. The podcast also highlights the challenges of getting practitioners to adopt new technologies and the need for reimagining tasks to automate and reduce time spent on them.

Connect with our speakers:
Graham Stanton: https://www.linkedin.com/in/grahamstanton/
Edgar Thomas: https://www.linkedin.com/in/edgart1/

Full Episode Transcript:
Adam:           Welcome back to Count Me In. In today's episode, we have Graham Stanton and Edgar Thomas, the co-founders of Avise. A company that provides accounting technology solutions. Both my guests have seen many pain points that accountants face daily, and have worked hard to build solutions that address those pain points. 

Despite the available innovation, practitioners still use the same tools from 15 to 20 years ago because of the lack of penetration by newer tools. Both Graham and Edgar share their vision of making an accountant's job easier and reducing manual processes. Join us as we discuss how technology can help accountants and the challenges they face, adopting new technology.

Adam:           Graham, Edgar, I just want to thank you both for coming on the podcast, today. We're really excited to have the co-founders of Avise on the podcast with us, today. And today we're going to talk about accounting technology. And I figure we could start off by discussing what is the current state of the market for accounting technology, and the status of the industry, today? Because it's constantly moving and evolving.

Edgar:           Yes, thank you, Adam, really appreciate you having us both on, today. And, yes, it's a topic that we both feel very passionately about. For me, as an inactive CPA, but a practitioner that has worked with a lot of accounting tools, I've seen it from both sides. 

So, right now, as an entrepreneur, building a solution that solves a lot of the pain points that I saw in the marketplace. But also the pain points that we're getting feedback from our current clients and prospects of our own. It is an exciting time to be looking at it because there is a lot of innovation going on today. But quite, frankly, practitioners, today, are doing a lot of the same thing and using a lot of the same tools they were using 15, 20 years ago. Because there's been such little penetration by the tools out there, today, available. 

So when I was practicing as an in-house accountant, a lot of the tools I found lacked the vision or the understanding of what a practitioner needed to do. So they were focused more on FP&A and other finance functions. But didn't really focus on improving the lives of the core accounting suite. That the accountants had to do their jobs in on a day-in and a day-out basis. 

So if you go and talk to an in-house accountant, at a company, and they talk about their close. And they say that it's five days, it's 10 days, it's 15 days, or maybe even 30 days long. And when you, actually, dissect the things that they're doing, you immediately see opportunities for improvement based on the tools that are available today, but are not available to the accountants, yet. 

So that's one of the things that I feel very passionate about. Changing that and making it so that the accountants benefit from a lot of the tools and a lot of the innovation that we see elsewhere in the finance tech stack. 

So when it comes to tools like the ones we're building at Avise it's really focused on how do we make the accountant's job easier. To close the books, report out the information, the financial data more accurately and in a timely fashion, and reduce a lot of the manual processes.

Graham:       I'll add to that a little bit. Obviously, Edgar and I share this vision here, and when we were getting started there's a lot of real pain coming through in our discussions. I previously worked somewhat cross-functionally and had a lot of experience with the tools that the marketers get, and that data engineers get. Ultimately, FP&A was starting to get, and, for whatever reason, the accountants have been at the end of the line.

And there's been a lot of attitude of, "Well, accountants are paid to do this busy work, so what's the problem here?" And it's unfortunate, and, thankfully, accountants are starting to wake up and saying, "Well, it's the year 2022, almost 2023, we don't need to put up with this anymore."

Adam:           And I think sometimes the biggest thing is that if it's not broke, they don't want to try to fix it. We've been doing the same thing and using the same technology for 15, 20 years, as Edgar was saying. But why change things up and mess it up? What do you guys think is the biggest problem with the current technology, the state of the technology as it is today?

Edgar mentioned some of those things, people are trying to cut down the close, and those are some of the big problems that they're dealing with. But what's the problem with the actual technology that you think is causing them to not adopt it as fastly as possible?

Edgar:           Yes, I can take this, I like the way your insight there is that, for a lot of folks they accept this status quo as, like "This is the way things are and should be, or will continue to be." One of the things I really enjoy about my job today is that as we show our tool to folks, the response is very common one. Where it's just like, "Oh, I didn't even know that that was possible, or I didn't even think about how much time it took for me to do that task."

So a simple thing like a reconciliation month in and month out, may take an accountant 30 minutes, an hour, 2 hours, and it's just an accepted part of the job, "My job is to reconcile an account."

But then when you reimagine what a reconciliation is, and you automate a lot of the components of that reconciliation, and reduce that from 30 minutes down to five minutes, a light bulb goes off. It's just like, "Okay, these are minutes, hours, of my life that I can get back, and I can do more value added things for the business besides a lot of these things, which are, quite frankly, busy work."

So one of the things that we've come across is that there's a lack of knowledge. I've never seen this before among my accounting friends. I've never seen something like this before. And then it's like maybe a hesitation, like you said, "If it isn't broke don't fix it." If I know the system has been around since 1970 and, literally, my predecessors have been doing this, I know it works, and I will continue to do it. 

So it is a really exciting journey that we've been on at...

IMA is celebrating International Women's Day on March 8th to commemorate the cultural, political, and socioeconomic achievements of women.  In this special Count Me In podcast Yvonne Barber, CFO, HR Knowledge Source, discusses how the pandemic affected female small business owners and how some used management accounting strategies to help them become more  resilient.

Connect with Yvonne: https://www.linkedin.com/in/yvonnebarber/

Episode Transcript:

Margaret:       Hello, and welcome to Count Me In. I'm your host, Margaret Michaels. Every March, IMA celebrates International Women's Day. A day recognizing the unique contributions and accomplishments of women. 

Embracing equity is the theme of this year's celebration. Questions of equity are prevalent when speaking about women and the workplace. Nowhere is equity defined as the promotion of justice, impartiality, and fairness. Within the procedures, processes, and distribution of resources, according to IMA's Diversifying U.S. Accounting Talent Report.

More important than in the realm of small business. Where female, small business owners account for 21.4% or 1.24 million of all small businesses in the U.S., according to the Census Bureau. 

Today, I am here with Yvonne Barber, CFO of HR Knowledge Source and IMA's Small Business Committee Chair. To discuss how the pandemic affected female small business owners. And how some used management accounting strategies to help them become more resilient. 

We will consider the challenges these owners face in a competitive, post-pandemic business environment. And the ways strong management accounting principles, can help them operate their businesses more efficiently and profitably. Thank you for being here today, Yvonne.

Yvonne:         Thank you for having me.

Margaret:       So I guess we'll start with looking back at the pandemic. Which really did bring a lot of attention to small business owners and their challenges. At the height of the pandemic, you worked for Blue Abacus Solutions. An accounting services firm specializing in small businesses. Small businesses took a huge hit during the pandemic. With quarantines, social distancing rules, and employee turnover affecting their ability to operate and stay profitable. 

According to the World Economic Forum's Global Entrepreneurship Monitor, female small business owners were hit harder than men. With women 20% more likely than men to report business closures, due to the pandemic. Can you offer some perspective on why female-owned businesses were especially at risk?

Yvonne:         Sure, in addition to the resource that you mentioned. I've researched this topic to develop a better understanding of the challenges faced by small businesses. So that the IMA's Small Business Committee, where I serve, can offer the support needed to the small business community. 

And I found that the biggest factor to be the lack of access to funding and capital. A majority of female entrepreneurs self-fund their business. And this can limit the ability to scale their business or invest in the needed resources, to improve operations. 

One of the things that small businesses, in general, struggle with is looking forward at what's coming, as opposed to reacting to what's currently on their plate. And I think that is where a lot of small businesses found themselves. 

They just weren't in a position to handle what the pandemic served out to them, and that is one of the biggest factors. But among that, bias among customers was also listed as another factor. 

Now, this may not be a great obstacle for some women. Especially, here in the United States, I think we've made a lot of progress in that area. But I found several studies, throughout the world, that found customers are less likely to purchase goods or services from women-owned businesses. 

So there's a variety of reasons that women were impacted as they were. And I think it's difficult to offer a one-size-fits-all approach to this. I think, instead, it's good to look at each individual item. And address as it pertains to your business, as a female-owned business or a small business owner in general.

Margaret:       Yes, those are great points and I think the funding issue is very top of mind. And that's really interesting, the bias, I never thought about that. But women experience bias in a lot of realms. So it shouldn't be surprising that it's also prevalent in small business ownership and customer choices. Those are great points.

Yvonne:         Yes, that surprised me as well. Just because my perspective here, being in the United States, I think that we've learned to navigate that a little better. But in that The Small Business Committee, we serve a global membership. I am interested in what the challenges are for our membership. All over the world, not just here in the United States. So that was surprising to me. But it was helpful to see the information, so that I'm in a better position to offer what's needed for our members.

Margaret:       And the IMA's Small Business Committee does a great job, with helping members who are struggling with these issues. In fact, IMA's Small Business Committee published two important reports, to help guide small businesses through the COVID crisis, and to help them stay resilient post pandemic. 

I wonder what differentiated the businesses, who managed through the crisis versus the ones who failed? And from your perspective, why is it difficult, when you are a small business owner, to address both short-term crises and long-term strategy?

Yvonne:         I think the businesses who survived focused on sustainability and leveraged strong relationships, and a diverse network of sources to meet their needs. Those who prioritized relationships were just better positioned to survive the storm. The relationships include the customers, suppliers, as well as employees. And it can be tough to think about tomorrow when you're just trying to survive another week. 

I know a lot of small business owners. I know they're just trying to make payroll. But making short-term decisions that impact the long-term sustainability of a company, they may seem to help the short-term, but ultimately they do end up hurting the company.

Margaret:       I think that's something that even mid and large-sized businesses grapple with, is that balance between the short-term and the long-term. And not having those short-term decisions affect your ability to operate in the long-term. So that's absolutely on point. 

And now, as the immediate crisis of COVID passes, new risks are also emerging for small businesses. These include worker shortages, failure to embrace digitization, inflation, and supply chain disruptions. And without the resources that larger size companies enjoy. How can small businesses mitigate these risks?

Yvonne:    &...

Today we're excited to have Robert Cooke, the founder and Principal Architect of 3Forge, a New York-based fintech company that focuses on solving complex data problems in the accounting world. Robert joins Count Me In to share his story about his lifelong passion for computers and his journey to founding 3Forge. He breaks down the three buckets of data that the company focuses on: real-time streaming of data, asking computers about data, and data entry. Robert emphasizes the importance of having the right technology in place to analyze data properly and shares his experience working with various organizations to solve their data problems. Join us as we explore the fascinating world of fintech and data.

Episode Transcript:
 

Adam:           Welcome to Count Me In. The podcast, where we examine all things affecting the accounting and finance world. I'm Adam Larson, and I'm excited to introduce our speaker today, Robert Cooke. Robert is the founder and principal architect at 3Forge, a New York-based provider of data visualization and visualization technology. Today, Robert and I discuss his passion on the interrelationship between computers, people, and data. And describes the future trends he expects to see in data management. 

Businesses of all sizes can gain value through using data to optimize and streamline their business. And we discuss how the technology chosen plays a role in driving a competitive advantage. Let's listen in to learn more.

Well, Robert, I want to thank you so much for coming on the podcast today. We're really excited to talk about you and your organization, and fintech. And before we go there, I just wanted to start with maybe you could tell a little bit about your story and how you got to where you are?

Robert:           Okay, yes, great, Adam, thanks for having me on today. So my story is I'm a lover of all things computers. I've been into computers my whole life, ever since when I was a little kid. I went through the natural learning curve, which is, originally, I wanted to build video games, and this is in the early '80s. So I was focusing on what does it mean to write efficient code and things along those lines. And then later on, we had this club, and in the club people could buy sodas and buy candy bars, and things like that and it was like a Boy Scouts equivalent. But it was all being paper-driven in terms of the accounting and everything. And I felt, "Well, this is a great opportunity for computers."

And that's when I realized, wow, computers, as a kid, I always saw video games, and I realized these really are business machines, they can really help streamline things. And, so, our little club was actually, probably, one of the first grade school clubs to, actually, be managed through electric accounting. 

Now, I'm embarrassed by the system I built at the time it was very hardcoded for sodas and candy bars, but it still got me started on the concept. So I've really spent my whole life thinking about, abstractly, what it means to connect humans to data. And that can take you in a lot of places. 

And then I ended up working in fintech, it was Bear Stearns, it was in 2002. And I was head of infrastructure at the dark pool Liquidnet. My work product has been at many of the tier-one banks, but all the while it's been this, I would say my story has been one of interest in computers and interested in how humans and data interact.

Adam:           And that's a huge part of, especially, in the accounting world. Where you have to understand where your data is and what your data is doing. To be able to visualize it properly, to give the right reports to your CEO and all of those items. And, so, we all understand how important data is. What does your organization, what does 3Forge do in terms of data? How do they look at data?

Robert:           Well, I look at data, I've actually broken the problem down into three buckets. I think two of which are very important for accounting. But to be exhaustive, I'll go through all three of them. The first bucket is what I would call real-time streaming of data. And that is not necessarily as important for this conversation, but it is something that we focus on as well. So the idea is, as data is taking place somewhere you want to be able to have that streaming in, and as a human be able to read that in real-time. 

An example I could give is, if you think of, at this point, cars are pretty advanced. That dashboard in your car, that's real-time streaming information coming to you, telling you your speed limit. You don't have to ask the car, "What's my speed limit?" It's just always showing it to you, that's real-time. I think very cool things could be done in accounting with that, as you start to move into workflows, but I'll digress on that. 

The second thing is what I would call asking your computer about data. And, so, a very simple analogy would be you simply go on to Google and you type in, "Who is Adam Larson?" And then it comes up and gives you an answer. That would be you, a human, invoking a question, asking the computer and the computer comes back, that's the second thing. 

And then the third thing is data entry, which is pretty much what it sounds like. The ability to fill out a form, hit Submit and send that. And then that goes into the computer. Maybe it goes through some validity, maybe it goes through some workflow process, with the ability to enter data. So, to recap, we break it into three buckets– 

Data moving in real-time.The ability to ask questions about data.And the ability to enter data. 

And I think one of the cool things is, and this is like decades to come up with this answer. It almost seems embarrassing because it seems so simple, at the end of the day. But once you've thought about it in those three buckets, you can really start to tackle just about any problem that comes your way. And, frankly, accounting has some of the most deceptively, challenging problems there is. 

I mean, some of the systems that I've seen built on our platform are way beyond my understanding, to be quite frank. You know what I mean? But there's a lot that goes into it.

Adam:           Yes, there is a lot that goes into it. So that just goes to show it's really important to have the right technology in place, at your organization. To make sure that you can analyze your data properly. What have you seen as you've worked with many organizations. As they come to you with different problems and having to work through their data issues?

Robert:           Well, it's interesting because it goes without saying that Excel is the predominant piece of software being used. And Excel, I'm sure if I look, I've got five monitors here, I'm sure if I look around enough I'll find Excel up on one of them for something. 

And, I think, Excel is an incredibly powerful tool for certain activities, especially, if you're trying to mock things up quickly. You're trying to aggregate some data, maybe determine interest rates, something like that it's very good for that. 

But I do think it has a tendency to be overused, to the point of abused, and I think a lot of people would agree. But a...