Firm Management
Fieldguide Launches Analytics Solution for CPA Firm Decision-Making
With the industry-wide talent shortage, firms are seeking to be smarter and more vigilant with their engagements, resources, and client metrics.
Apr. 30, 2024
Fieldguide, an artificial intelligence (AI) platform for advisory and audit services, has launched Fieldguide Insights, the first end-to-end analytics offering for CPA and consulting firm leaders, improving engagement efficiency, resource utilization, and client relations.
With the industry-wide talent shortage, firms are seeking to be smarter and more vigilant with their engagements, resources, and client metrics. As the industry’s only integrated solution, Fieldguide offers firm leaders a comprehensive view of where they should focus to improve their business.
Fieldguide Insights contains dashboards and reports that bring actionable information to help a firm grow their business, such as personalized recommendations for saving time on engagements, insight into where team members are spending the most time across engagements, and intelligence on client interactions that are potentially causing issues.
Angela Haasch, Principal at Wipfli, stated: “We have greatly leveraged the valuable information we gained with Fieldguide Insights. In our monthly leadership call, we are able to use the data from Fieldguide Insights to share with our team and identify specific actions they can take that could save us hundreds of hours per year. Fieldguide provides us with data on what we could gain, and also the supporting detail on our current state to know which engagement teams we need to focus our attention on.”
With the end-to-end analytics provided in Fieldguide Insights, firms can view concrete and quantitative analytics for key metrics across their business, including:
- Time Savings Insights: Time Savings shows how much time firms are saving across different phases of their engagements – from planning to reporting and closing. It also provides personal recommendations on how firms can save additional time. For example, more broadly automating requests and evidence collection can save an additional 10 – 15 hours per engagement.
- Practice Insights: Practice Insights highlights client responsiveness to requests, specifically showing what client interactions are causing multiple review cycles or project delays. For example, practice leaders can quickly see which types of client requests tend to have multiple review cycles, and then implement changes to ensure there is less confusion or need for additional clarification on those requests. Practice Insights also provides overall visibility into the number, mix, and growth trends for all engagements. Early visibility into trends can help practice leaders make more informed resourcing decisions.
- Time Tracking Insights: Time Tracking Insights provides detailed information on how team members are spending their time on activities and engagements, so practices can determine which areas are consuming too much of their time.
Jin Chang, CEO and cofounder of Fieldguide, stated: “Fieldguide Insights is our latest innovation that empowers advisory and audit firms with industry-first insights across the entire engagement lifecycle, designed to help CPA firms overcome the industry talent shortage and grow their business. With Fieldguide Insights, we’re committed to shaping the future of CPA and consulting firms.”
Fieldguide Insights is available today on the Fieldguide AI Platform for audit and advisory firms. To see Fieldguide in action and to learn more about Fieldguide Insights, watch the online product tour.