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Maximizing tax department efficiency: The case for higher technology budgets

ThomsonReuters

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.

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Making Accounting Work: The Balance of Technology and Teamwork

CPA Practice

Many companies turn to technology, believing that investing in new systems will automatically boost efficiency. The adoption of new technology also requires investment in training, as systems are only as effective as the people using them. Moreover, many employees fear that automation will lead to job loss, and this concern is valid.

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Leveraging Technology for Advanced Financial Reporting

GrowthForceBlog

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.

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Review of HubSync – The Accounting Technology Lab Podcast – Nov. 2024

CPA Practice

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 accounting Technology Lab.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and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. From automation to generative AI, learn how to optimize workflows, reclaim valuable time, and attract top-tier talent with cutting-edge technology.

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Review of TaxGPT – The Accounting Technology Lab Podcast – Nov. 2024

CPA Practice

The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x. 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.) They are venture backed.

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Review of Soraban – The Accounting Technology Lab Podcast – Nov. 2024

CPA Practice

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 accounting Technology Lab sponsored by CPA practice advisor.

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Fall In Love With the Month-End Close

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.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration.

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No, Robots Are Not Taking Over Your Job: A Discussion on Balancing People and Tech in Automation

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.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.

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Why HR Technology Matters Now More Than Ever

When a crisis hits, HR technology gives business leaders the data, tools, and support to make important business decisions quickly. In this report, Josh Bersin outlines why HR tech is more important than ever and how it can help small and medium businesses throughout times of crisis.

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AP Automation: The Competitive Advantage Your Business Needs

Speaker: Danny Gassaway and Wayne Richards

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!

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

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.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”.