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Accounting is often one of the last areas a company invests in because it’s traditionally seen as a cost center rather than a revenue generator. This tends to be the case in departments like sales or marketing, but not in areas like accounting, HR, or operations. By Ting Song. So, what’s the solution? However, it’s rarely that simple.
Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x. We’d like to talk about another AI based tax research tool called Tax GPT.
Brian Tankersley, CPA, and Randy Johnston review HubSync , an all-in-one, modern client platform which automates the tax return and other key processes and provides a single gateway to drive “Best-in-Class” collaboration between professionals and their clients. Randy Johnston 00:04 Welcome to the accountingTechnology Lab.
Brian Tankersley, CPA, and Randy Johnston review Soraban , an AI-powered system that revolutionizes your practice’s client data intake process by automating and simplifying every step. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accountingTechnology Lab sponsored by CPA practice advisor.
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery.
Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Watch the video, or listen to the audio podcast below: Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) And so it will. It will actually go in.
The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% Accounting roles must evolve to allow for this shift.
The accounting landscape continues to evolve at a rapid pace with emerging technologies, shifting workforce dynamics, and new operational demandsall of which impact the way accounting teams operate, and businesses achieve growth goals.
Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accountingTechnology Lab, sponsored by CPA practice advisor.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance.
A Top Technology Initiative Article by Randy Johnston. The outlook couldn’t be brighter with new opportunities, technologies, challenges, and clients looking to take advantage of your service offerings. In this column, I will illustrate portal and AI support with some new platforms that are examples of improved automation and AI.
8 min read December 4th, 2024 The role of technology in financial reporting is increasing exponentially. Key Takeaways Automated Data Collection and Report Generation: Advanced technology is increasingly automating data collection, eliminating the need for manual entry systems.
The 2024 State of the Corporate Tax Department report by Thomson Reuters Institute highlights these pressing issues, making a compelling argument for increasing technology budgets to unlock new levels of efficiency and strategic value. Currently, only a small fraction of the average tax department’s budget is dedicated to technology.
Whether you manage it all internally, work with a CPA, or use an outsourced provider or technology, you know that there are many moving parts. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. However, in my experience, sales tax automation can be counterproductive in certain situations.
Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Field of Study: Accounting. Recommended CPE: 1 CPE.
Chaser , the leading accounts receivable platform, is proud to mark its 10-year anniversary. What began in 2014 as a tool to automate overdue invoice reminders has evolved into a globally recognized platform, and has empowered over 7,000 businesses to manage credit control efficiently.
This webinar will be held on Thursday, December 12, 2024 at 12:00pm ET Sponsor: Avalara Duration: 1 Hour Register Now This webinar is designed for accountants using QuickBooks, Xero, or similar accounting software. He also co-founded Acuity Invests, which invests in accountingtech, SaaS, fintech, and crypto companies.
Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Randy Johnston 00:10 welcome to the accountingTechnology Lab. I mean, I knew the people, but I didnt know the product. Sure, its not.
Speaker: Michael Ly, CEO of Reconciled, and Chris Elmore, UNCC Professor and Chief Evangelist of AvidXchange
The common fear about automation today is the belief it will displace millions of jobs. While it could make certain functions obsolete, a more optimistic view is that automation enables people to re-center their workday on more essential, purposeful functions. But technology is only as good as the people it serves.
In a profession known for its measured approach to change, agentic AI is emerging as a transformative force for accountants, redefining the nature of daily work and opening the door to more meaningful (and profitable) relationships with clients. But what is agentic AI, and how is it transforming the accounting profession?
Jump to ↓ The strategic role of tax technology Budget disparities and satisfaction levels The rise of Generative AI (GenAI) Key findings at a glance The future trends of tax technology Strategic takeaways and future directions The tax and accounting landscape is undergoing a seismic shift, driven by rapid technological advancements.
A new report reveals a dramatic shift in the expectations that businesses and individuals who use accountants have of those professionals, with findings that highlight the need for seamless technology, proactive communication, and personalized service. taxpayers to reveal what they truly want from their accountants.
Jump to Key areas where AI enhances tax services in large firms Barriers to AI adoption in large firms and overcoming them Embrace AI in your large firm for a competitive edge The tax and accounting industry is on the brink of a significant transformation, driven by the integration of artificial intelligence (AI) and generative AI (GenAI).
Tired of everyone telling you that you need to modernize your accounting operations, but not telling you how to actually do it? While automationtechnologies come with some cost, they greatly reduce manual labor and risk of error when integrated well.
iwantmore.ai, the UK-based AI consulting firm, is thrilled to announce the appointment of Simon Williams as Head of Technology. With a distinguished career at Microsoft, Williams most recently served as a Power Platform Technical Lead, driving innovation in low-code/no-code solutions, including Copilot and enterprise automation.
iplicit named 40th fastest-growing tech company iplicit Ltd, the fastest selling mid-market accounting solution in the UK, has been listed among the 50 fastest-growing tech companies in the UK. The industry disruptor secured 40th place in the annual Deloitte UK Technology Fast 50 list.
This can be frustrating, but even more so in the summer, when there are more family trips and activities we want to spend time on — and not spending time completing repetitive accounting tasks. Chief among the uses for automation in accounting are functions like accounts payable, accounts receivable, and spend & expense management.
From mitigating unprecedented business disruptors to adapting to new operational paradigms, professionals in all industries find themselves dealing with major changes — many of them driven by emerging technologies. [Go Accounting is no exception. Go to Part II of this two-part series.]
Accounting firms must embrace digital transformation to stay competitive. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence. Competitive Edge: Attract tech-savvy clients and offer innovative services with digital tools.
People dont get into accounting to be data entry specialists. However, because of long-held perceptions of mundane work and long hours, accounting firms face challenges in attracting and retaining high-quality staff, especially as younger generations seek more flexible, technology-driven work environments. Lets take a look.
Jump to The transformative potential of AI in advisory Breaking through traditional pricing models Empowering teams through technology Challenges and considerations when adopting tech and AI Embracing technology to unlock advisory services Today, many forward-thinking accounting firms are driving business growth through advisory services.
Accountingtech space sees major acquisitions this week; Bitwave releases Data Fusion tool for digital assets; TaxValet gains B-corp status; and other accountingtech news.
If there is one thing accountants and tax preparers know for sure, it’s that an efficient tax workflow is key to remaining competitive in an increasingly digital tax and accounting landscape. To achieve this, many forward-looking accountants and tax preparers are shifting toward a fully digital tax workflow. Tax preparation.
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. Don’t let outdated processes slow you down!
2024 was certainly a year of discovery and rapid progression for AI and automation. For the finance function specifically, there have been ongoing enhancements to automation capabilities for tasks such as invoicing and expense management. The challenge for CFOs is working out what elements are useful and where it can be used.
CPA Practice Advisor has announced the 2024 Tax and Technology Innovation Award winners and finalists. Now in their 21st year, the awards highlight technologies that advance the profession. as they promise to dramatically improve client services, firm management, small business accounting and many other areas of operations.
The field of public accounting is undergoing significant change, from rapid advancements in technology to evolving client expectations, including increasing demand for strategic advisory services. Research for the 2025 Salary Guide From Robert Half found that 85% of finance and accounting managers in the U.S. By Steve Saah.
Managing accounting in-house is expensive, time-consuming, and often inefficient. Outsourced accounting services offer a smarter approach. By leveraging cloud-based technology and expert financial support, businesses can reduce costs, improve accuracy, and gain real-time financial insights.
Technology is rapidly changing the way accountants perform and manage month-end activities. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
With talent shortages looming and technological advancements accelerating, tax departments are at a pivotal juncture. Among these resolutions are workforce retention programs, automation and technology integrations, while also considering resource and budget allocations.
Incorporating Automation and Artificial Intelligence Automation and artificial intelligence (AI) can significantly speed up the financial close process to help companies close their books more quickly. Blurring Roles of Finance and IT Skills Technology is increasingly automating financial tasks and computations.
Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant. There were about 1.65 in 2022, up 1.3%
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up!
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