Are your accounting firm's processes truly optimized, or are you considering automation as a quick fix to deeper workflow issues? In this episode, hosts Damien Greathead and Penny Breslin are joined by Korey Cournoyer to explore the world of automation within accounting firms. They discuss the importance of process documentation, the benefits of strategic automation, and how to approach implementation effectively. The conversation highlights the need for standardization, efficient workflows, and...
Aug 09, 2024•44 min•Ep. 79
Are your accounting firm's processes truly optimized, or are you considering outsourcing as a quick fix to deeper workflow issues? In this episode, hosts Damien Greathead and Penny Breslin delve into the topic of outsourcing within the accounting industry. They discuss the challenges firms face with staffing shortages, the increasing client demand for accounting services, and the importance of having robust internal processes before considering outsourcing. The conversation highlights the need f...
Jul 26, 2024•43 min•Ep. 78
Are you maximizing your firm's potential by effectively marketing your services, even when you're swamped with work? In this episode of "Strategy and the Virtual Controller," Penny Breslin interviews Damien Greathead about marketing for accounting firms. They discuss the importance of maintaining an updated and specific website, effective client communication, and strategic marketing even when firms feel they are overwhelmed with work. They highlight the value of newsletters and automated commun...
Jun 14, 2024•40 min•Ep. 77
Are you leveraging data effectively to close the gap between your business goals and your current performance? In this episode, co-hosts Damien Greathead and Penny Breslin interview James Childress, a former CPA who transitioned his firm to focus exclusively on advisory services. James shares his journey from a traditional CPA firm to specializing in providing advisory services, emphasizing the importance of data-driven decision-making. He discusses the challenges of reducing his client base and...
May 24, 2024•44 min•Ep. 76
In this episode, hosts Damien Greathead and Penny Breslin delve into cybersecurity within the realm of CPA operations with guest Christophe Reglat. Christophe discusses his extensive background in managing data centers and the evolution of cybersecurity, particularly focusing on the challenges CPAs face. The conversation covers the importance of continuous vigilance in cybersecurity practices, the development and function of the WISP (Written Information Security Program), and how cybersecurity ...
Apr 19, 2024•47 min•Ep. 75
Are your accounting practices ready for the transformative wave of technology, or are you stuck in the compliance grind? In this episode, hosts Damien Greathead and Penny Breslin discuss the importance of transformation in accounting firms. They touch on the continuous nature of tax season, the challenges firms face in adopting new technology, and the necessity of internal readiness for successful outsourcing. Penny shares experiences of firms struggling to adapt and emphasizes the need for clea...
Mar 22, 2024•33 min•Ep. 74
Have you ever wondered how to transform the endless busy season into a well-balanced, profitable practice? This episode features an enlightening conversation with Amanda Gascoigne, who shares her insights on creating a more balanced and profitable accounting practice. The discussion covers the importance of selecting ideal clients, the benefits of fixed fee pricing while tracking time for internal purposes, and the strategic use of technology to enhance efficiency. Amanda emphasizes the signific...
Mar 08, 2024•44 min•Ep. 73
Damien Greathead, alongside co-host Penny Breslin, welcomes Rachel Fisch for an insightful episode that delves into the nuances of modern accounting practices, leveraging technology for growth, and the journey of niche specialization. The discussion covers Rachel's extensive background in the accounting industry, from her early days of recognizing her aptitude in accounting to her entrepreneurial venture into Fisch Books and beyond. It spans her experiences on the road, teaching QuickBooks Onlin...
Feb 21, 2024•48 min•Ep. 72
Ever wondered how tackling the root causes of business problems instead of just the symptoms can transform your efficiency, especially during the hectic tax season? Hosts Damien Greathead and Penny Breslin discuss the crucial topic of identifying and addressing the symptoms and root causes of problems in a business process, especially in the accounting field. They emphasized the importance of stand-up meetings, having cross-team communication, and using the right tools to increase efficiency. Th...
Feb 06, 2024•39 min•Ep. 71
How does the implementation of a daily stand-up meeting empower team members, and what role does continuous learning and training play in maintaining quality service in a rapidly evolving work environment? In this episode, Damien and Penny delve into the power of daily stand-up meetings with the team of S&N Financial in Chennai, India. The team discusses how such meetings, structured clearly around priorities and challenges, can alleviate stress and increase efficiency, especially during bus...
Jan 15, 2024•46 min•Ep. 70
Are you curious about how technology is transforming the accounting profession and what skills are now essential for success in this evolving landscape? In this episode, co-hosts Damian Gracehead and Penny Breslin discuss the impact of bots on accounting, the importance of human review in automation, and how keen learners can help keep professionals updated. They also explore the fluid part of advisory consulting in a Client Accounting and Advisory Services (CAS) model. As they delve into their ...
Dec 28, 2023•36 min•Ep. 69
Explore the dynamic world of accounting and advisory services in today’s episode with Damien Greathead and Penny Breslin! In this episode, Damien and Penny delve into the intricacies of virtual controller services, discussing the evolving role of accountants in today's digital landscape. They share their experiences from QuickBooks Connect in Las Vegas, comparing it to other industry events and reflecting on the unique energy and challenges of such gatherings. The conversation navigates through ...
Dec 06, 2023•37 min•Ep. 68
How are today's accounting firms harnessing technology and AI to enhance efficiency and streamline operations? What are the cutting-edge trends in cloud-based accounting, and how can these strategies be effectively implemented in your firm? Welcome back to Strategy and the Virtual Controller! Penny Breslin and Damien Greathead dive into cloud accounting, firm management, workflows, and the intentional building of businesses. In this episode, recorded live at QuickBooks Connect in Las Vegas, they...
Dec 01, 2023•44 min•Ep. 67
Are you having trouble navigating the complexities of integrating Client Accounting Services (CAS) into your accounting practice? In this episode, Damien and Penny have on Jan Haugo to dive deep into the journey of adopting CAS. They explore how this isn't just about embracing new technology but fundamentally evolving your business model to align with the dynamic demands of CAS. From the significance of starting with robust bookkeeping practices to managing client expectations and adapting to re...
Nov 14, 2023•48 min•Ep. 66
How is the rise of AI and advanced technology reshaping the landscape of accounting? In this episode, Damien and Penny sit down with Jody Padar. Sharing her journey, Jody detailed her transition from joining her father's traditional firm to establishing her brand, "the Radical CPA", leveraging cutting-edge tech. She talks about April, an AI-powered tax software aiming to streamline the tax process by melding human expertise with AI's efficiency. While technology, especially AI, may seem intimida...
Oct 27, 2023•47 min•Ep. 65
Phishing emails are common nowadays. How aware are you of these threats? Do you know the magnitude of what these hackers can do? This episode of the podcast Strategy in the Virtual Controller dives into the story of Andrew Lassise, IT for tax professionals & bookkeepers at Rush Tech / Tech 4 Accountants. Andrew provides insight into common cyber threats such as phishing attempts and ransomware. He also shares a story about a man whose life savings were taken away right in front of him due to...
Sep 25, 2023•50 min•Ep. 64
What are the new perspectives in technology in relation to the current financial landscape? In this episode of Strategy and the Virtual Controller, Damien and Penny discuss how accountants and financial planners are adapting to the current financial landscape in the midst of the pandemic. They share their experiences from a conference they attended focusing on staying healthy during this time, how to be an effective master of ceremonies at a panel discussion, and what services can work together ...
Sep 15, 2023•31 min•Ep. 63
Why is it important to be trained when working with AI-driven solutions? In this episode of Strategy and the Virtual Controller, Damien and Penny discuss their recent getaways and how they managed to get back to work after taking a break. They talk about the importance of training when working with AI-driven solutions. They highlight why training is essential in the accounting industry, from understanding different applications to better understanding customers. The conversation covers ways to p...
Aug 18, 2023•37 min•Ep. 62
Why do you need to keep tasks easy to understand? In this episode of Strategy and the Virtual Controller, Damien, and Penny tackle the importance of taking a step back before implementing any technology or workflow changes. They discuss how to set up an anticipatory set that will help employees work more efficiently and effectively, reduce misunderstandings, and minimize write-offs due to incorrect processes. The conversation covers how COVID has impacted internships and new workers coming out o...
Jul 28, 2023•40 min•Ep. 61
In this episode, Damien and Penny discuss the importance of leveraging AI to build more intentional businesses, allowing accountants to focus on building relationships and providing value-added services. The conversation covers topics such as managing data, automating processes, making predictions based on prior history, the need for standardized business models in Australia, and more. Tune in as Damien and Penny as they discuss the different ways that AI can be used as deductive, predictive, or...
Jul 14, 2023•37 min•Ep. 60
In this episode, Damien and Penny explore how accounting firms and bookkeepers can use workflow, AI, and technology to build their business with intentionality, help their clients better understand their business, and deliver value to them, as well as create a great workplace for their team. The conversation focuses on the benefits of workflow, such as workflows, such as better visibility, accountability, and organization. Tune in as Damien and Penny as they advise listeners on what questions to...
Jun 23, 2023•36 min•Ep. 59
In this episode, Damien and Penny explore the changing job environment due to the increasing use of AI in accounting and tax processes. They share their experiences with Carbon, an AI-powered workflow tool that some of their clients are using. The conversation dives into the potential of AI to automate tasks in the accounting process, such as checklists, emails, and other administrative tasks that would allow accountants to spend more time on the work they were trained for. Tune in as Damien and...
Jun 09, 2023•41 min•Ep. 58
In this episode, Damien and Penny discuss the potential of Artificial Intelligence (AI) to revolutionize tax season. From simplifying bookkeeping processes to improving communication between businesses and their clients, they explore how AI is transforming the way accounting teams work and how it can help reduce time spent waiting for client responses. The conversation today takes a look at how AI can be used to write marketing materials, job descriptions, and communications, as well as create a...
May 25, 2023•28 min•Ep. 57
In this episode, Damien and Penny share their experiences working with accounting firms around the world and provide valuable insights on how to avoid dropped balls and miscommunications with clients. They emphasize the importance of intentionally building businesses in the accounting and bookkeeping industry. The conversation today highlights setting clear expectations with clients and ensuring that both parties are aware of their responsibilities. Tune in as Damien and Penny for an engaging an...
Apr 21, 2023•36 min•Ep. 56
In this episode, Damien and Penny dive deep into the importance of organizational structure, service mix, and team building for accountants and bookkeepers who seek to build intentional businesses. They share their experience with new hires who bring fresh ideas and perspectives to the table, emphasizing the importance of surrounding oneself with competent individuals to grow a business. The conversation today highlights the importance of delegating in growing a business and the focus on integra...
Apr 13, 2023•37 min•Ep. 55
In this episode, Damien and Penny discuss the impact of tax season on their workload, with the bookkeeping team being busier than usual. They stress the importance of vetting potential clients before taking them on, including reviewing their website and understanding their specific needs. This helps them provide tailor-made services that meet each other client’s unique requirements. Today's conversation highlights the benefits of cloud-based accounting software over desktop software for controll...
Mar 30, 2023•30 min•Ep. 54
In this episode, Damien and Penny discuss their recent travels and their experiences with outsourcing and hiring employees. They share their stories of exploring different cultures, meeting new people, and experiencing new things. They emphasize the importance of proper organization and onboarding processes when it comes to hiring employees or outsourcing work. They discuss how clear communication, space for brainstorming ideas, and proper documentation of processes can avoid situations where cl...
Mar 28, 2023•34 min•Ep. 53
In this episode, Damien and Penny discuss how accounting and bookkeeping firms have been impacted by the pandemic. They discuss Penny’s recent trip to Chennai and how people are shifting towards remote work, businesses have had to adjust to a high rate of turnover, and schools have been on Zoom for two years. They delve into gender inequality and unequal representation in the workforce, as well as the importance of allowing people to tell their own stories. Tune in as Damien and Penny discuss th...
Mar 16, 2023•37 min•Ep. 52
We have a treat for you for our 51st episode. You may have heard Penny talk about her business partners Nirmala and Sharmila who run the accounting firm in Chennai, India. With Penny in Chennai, we figured it was a great opportunity to chat with them to learn about what inspired them to take the entrepreneurial leap and start their own accounting firm. Two women starting their own firm may not be big news in some countries, but in India it's quite remarkable. Even more remarkable is that they've...
Mar 08, 2023•41 min•Ep. 51
We're trying to keep it positive here at Strategy & the Virtual Controller, and today we're discussing saying no to new clients at this time of the year. Of course there's new business to be won at this time of year, but are you set up to onboard clients and get the work done successfully? If not, then just say no. Most firms will fall into this category. Saying yes, just puts unnecessary stress on the team, on the systems and on you (and likely your loves ones). So just say no. Your team wi...
Feb 28, 2023•36 min•Ep. 50
