the accounting profession has faced staffing issues for years now and, especially post-pandemic, the problem has compounded. penny breslin, 卡塔尔世界杯常规比赛时间 contributor and the founder of moneypenny, talks about how firms are facing the hiring challenges and popular solutions that seem to be working, including using predominantly cloud-based apps for collaboration and engagement and taking a true evaluation of the talents and skills needed for each position.
accounting, along with legal, pioneered technology that continues to grow and allows automation of mundane tasks. isaac heller, the co-founder and ceo of trullion, discusses with donny shimamoto how ai uses optical character recognition (ocr) and natural language procession (nlp) to read documents like pdfs and excel, and extracts relevant data, like lease dates, into databases, where they can be used for computations or searching.
heller and shimamoto discuss the origins of professional technology, sharing how accounting was the perfect breeding ground for database software. “when you think of oracle and sap and intuit going way back, these were really the pioneers of database software,” heller says. “it’s as simple as that, you know, the general ledger and the accounts payable and accounts receivable framework fits really, really well in a software model. so, there was kind of this jump out of the gate where we were able to do so much in accounting.”
an explosion of new tech tools is giving accounting firm owners the opportunity to improve efficiency, attract and retain talent, and serve their clients better, tech guru byron tells liz farr in this exclusive interview.
not only do these tools help ease the pressure of capacity problems, but they may also provide firms with a new revenue stream when they extend that expertise into their clients’ businesses.
jamie lopiccolo, the managing member of a small midwest firm, has been employing a subscription-based model for more than four years to invoice clients for services rendered. in addition to positioning the cpa as the client’s partner for success, it also encourages those who employ the system to provide maximum value in each client interaction, rather than focusing on getting as much money or billable hours as possible. catch another conversation with lopiccolo here: sell service, not hours.
the approach is to both manage expectations by the client and ensure a normalized cash flow for the firm. additional benefits include a more strategic approach to dealing with new clients because they are getting the full picture of their business’s needs.
more disruptors: blake oliver: why tax work yearns to be free | private equity explodes in u.k. | brannon poe: the status quo must go | accounting nerds, unlock your super powers | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same | think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson | turning client service into new revenue
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