a model “firm of the future.” Jeff and I haveknown each other for several years, and we wereengaging for a while about how accounting firmscan transform themselves today to be prepared fortomorrow, in terms of how best to serve clients in themost relevant and impactful ways, recognizing thereis a whole paradigm shift of industry forces that hastaken place. One of the things that I really like aboutMarcum is how proactive they have been on thefront end but also making sure they are positioningthemselves for future success.
Consulting: How are things
going thus far?
Sturisky: Well, I’m stilldrinking from a fire hydrantand there’s still a lot ofwater gushing out. But weare organizing ourselveseffectively, we are makingpretty substantial investmentsin people and resources, andwe’ve developed our strategicplan. I can tell you that thereis tremendous support at thevery top of the organizationfor the transformation we’reundergoing. It’s going verywell so far. I’ve been veryimpressed with the firm’scapabilities; there have beenthings that have surprised me.
Marcum is very technologicallysavvy in how they use technology to enable delivery.
I’ll give you examples. They’re already using bots—built by the Marcum Tech organization—to streamlinesome of the repetitive work functions in certain areas.
A lot of firms talk about the fact that it’s on the horizon
or on the agenda, but these guys have already done
it! And they’re providing the service to clients, which
cements them as a leader in this area. Marcum has
also digitized a number of their processes as it relates
to audit delivery. When I found that out, it brought a
smile to my face because I recognized the adoption of
technology, which is so critical to how we are going to
serve clients going forward.
The convergence of technology and advisoryservices is creating exciting new career paths, sincethe professionals will be freed up to engage in clientwork much earlier than in the past. This is one ofthe tools that we’re using to effectively deliverhigh quality work for our clients. The progress thatMarcum has made in this area is really impressive.
Consulting: What are someparadigm shifts you seecoming to this market andhow it will serve the needs ofyour clients?
Sturisky: Let’s think aboutwhat is happening in themarketplace. There is thechanging nature of clientdemand; there are costpressures clients are puttingon firms; there is a demandfor more integrated globalsupport; there is also a realtransition going on from arate-based model to a value-based services model. Firms’traditional revenue modelwill be altered. There will bea real shift both in how firmsmanage their revenue and what clients are expectingfrom their CPA and consulting provider. Thatparadigm shift will be towards value-based services.Firms of the future will need to be more focused onprofitability rather than revenue. Profitability is afunction of knowledge, efficiency and price, whichwill allow firms to be fairly compensated.
Consulting® APRIL 2020 5
“The convergence of
technology and advisory
services is creating
exciting new career paths,
since the professionals
will be freed up to engage
in client work much earlier
than in the past. This is
one of the tools that we’re
using to effectively deliver
high quality work for
clients.”
