Jody Grunden, Co Founder and CEO, Summit CPA

Jody Grunden Co Founder and CEO, Summit CPA

Jody Grunden, Co Founder and CEO, Summit CPA

Jody Grunden is an accounting visionary with over 20 years of experience. He has helped pioneer innovative changes within the industry, including the introduction of the first subscription-based billing method employed by an accounting firm.

Podcast

Overview

Accounting as a sector has changed dramatically over the past few decades. From traditional balance sheets and in-office work, the accounting function has shifted to more modern and tech-oriented procedures.

About Jody:

Today TBCY brings you a professional who is not only a leader in the accounting space but has also done some commendable work in digitized accounting. We are pleased to welcome Jody Gruden to the podcast. 

Jody is the CoFounder and CEO of Summit CPA. He has been recognized, awarded, and felicitated globally.  

His venture Summit CPA is an active firm that helps small businesses make proactive financial decisions. Jody’s goal is to consistently change the way people perceive accounting. 

In a very interactive discussion with host Ashutosh Garg, Jody talks about his journey of setting up Summit CPA and the many experiences he has gained on the way.

Evolution of Accounting:

He talks about the evolution of accounting over the years and highlights the role of technology in the same. Jody strongly believes that technology has changed the accounting function. Traditional issues are being solved with modern solutions and that has boosted the industry considerably.  He speaks about the role of a CFO and how their function has always been vital to accounting firms. 

Jody shares that his firm has been functioning completely remotely since 2013-14, all thanks to modern technology. Technology has played a big role in the evolution of the accounting function 

A virtual CFO:

Jody throws light on a very interesting term – virtual CFO and explains how this modern addition makes Summit CPA unique. Jody shares the many ways a virtual CFO helps small businesses up their accounting game, boost their cash position and make the right decisions. 

In his opinion, a CFO should be able to react and make decisions rationally. Communication is the key to a successful CFO. 

“What we tried to do is bring that CFO level mentality to the smaller firms to really help them grow. So instead of paying bills and doing stuff like that, the focus is really on modeling. If we’re going to hire three people how’s that going to impact not only revenue and taxes but how’s that going to impact my cash position three-four months from now?

 What’s the long-term view you know,  what if the price increases you know what’s going to hit my bottom margin? How’s that going to increase my cash. You know all the different things that small businesses go through and they’re usually just kind of plugging and chugging hoping they’re making the right decision. That’s what that virtual CFO is really coming in the plane and really helping them.”

More:

Further, into the discussion, Jody explains why accounting firms are under pressure and how they can keep up in a speeding environment. He talks about his firm,  its outsourcing, and why it is a good option for various businesses.

In his opinion, a CFO should be able to react and make decisions rationally. Communication is the key to a successful CFO. 

To him, success is working around obstacles and achieving his goals, one way or another!

Tune in to the full video to know more about Jody and his incredible journey with Summit CPA.

Profile

Jody Grunden is an accounting visionary with over 20 years of experience. He has helped pioneer innovative changes within the industry, including the introduction of the first subscription-based billing method employed by an accounting firm. Together with his partner Adam Hale, Jody co-founded and serves as CEO of Summit CPA, which the pair launched in 2002. He is a member in good standing of the American Institute of Certified Public Accountants and the Indiana CPA Society. Jody works also extensively with the QuickBooks accounting software where he has been a QuickBooks ProAdvisor since 2002 and a member of the Sleeter Group where he teaches QuickBooks to small business owners. Jody’s public accounting background includes corporate experience as a tax manager for Rea Magnet Wire Company, Inc, a $250 million multi-national manufacturing company. His success at Rea Magnet Wire was highlighted by a successful appeal to the Taxation and Revenue Department of the State of New Mexico that resulted in the receipt of a $300,000 Investment Credit that the department had previously denied.

Together with Adam Hale, Jody has helped Summit CPA grow with a focus on top-tier services with an emphasis on Cash Flow Management, Forecasting, Budgeting, Debt Restructuring, and Cutting Edge Tax Planning. But Jody also recognized the distinct potential offered by emerging technology. Around a decade after forming Summit CPA, the company went fully remote and began offering a non-traditional package of Virtual CFO services to creative digital companies. Jody takes great pride in helping business owners strive in all economic conditions. He strongly believes that a well-run company will excel in both a good and a bad economy. He also believes in the educational aspect of helping businesses and the accounting industry transform and thrive within a digital environment.

Furthering that belief, Jody actively participates in numerous information-sharing endeavors, including podcasts on subjects such as essential forecasting software and critical strategies for CPAs hoping to launch their own virtual CFO firms. He is also the author of two books, Digital Dollars and Cents and Building the Virtual CFO Firm in the Cloud, and the winner of multiple awards, including recognition as 2020’s Top Innovative Practitioner by CPA.com.

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