ThomsonReuters

JULY 25, 2023

A company’s decision to introduce indirect tax (IDT) automation into its tax processes is often fraught with indecision and uncertainty. Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be.

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

AUGUST 3, 2023

As a result of the explosion of new tools and software available, accounting firms have a significant opportunity to improve their reputational status through enhanced advisory service offerings. For all it can do, there are limitations to technology. Clients will depend more on their accounting professionals as trusted advisors.

Technology 98

Technology accounting firms Tax Account 98

ThomsonReuters

APRIL 30, 2024

Jump to: The role of emotional intelligence (EQ) in client relationships The evolution of client service in accounting firms Leveraging technology for enhanced client service Forward-looking accountants are increasingly realizing the importance of harmonizing technical tax expertise with interpersonal relationship skills.

Technology 52

Technology accounting firms financial statements Tax 52

ThomsonReuters

JUNE 16, 2023

Many of today’s tax and accounting practices are struggling with strained firm capabilities. Based on the findings, the top challenge for accountants is recruitment/retention, at 36 percent. The accounting profession is no stranger to long work hours and hefty workloads, especially during busy tax season.

accounting firms 98

accounting firms Account accountant accounted 98

ThomsonReuters

OCTOBER 24, 2023

Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge.

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Account accountant accounted Technology 52

ThomsonReuters

OCTOBER 24, 2023

In addition, as businesses become more globalized, accountants must be able to account for transactions in multiple currencies,” wrote Benjamin Wann, owner of Asheville, N.C. Data consolidation challenges One of the greatest challenges facing tax departments is a lack of data integration and automation among systems.

Technology 52

Technology Tax corporation tax accounting and finance 52

ThomsonReuters

JANUARY 31, 2024

But these inefficiencies are fixable thanks to advancements in technology that are making it easier than ever for tax professionals to access the tools to revamp their workflows and eliminate these frustrating inefficiencies. But have you considered how your firm’s technology supports remote client collaboration ?

Tax 52

Tax Technology Account accountant 52

ThomsonReuters

OCTOBER 31, 2023

Jump to: How is AI affecting accounting? Is AI replacing accounting jobs? What is AI automating in accounting? Can AI do accounting? How to use AI to innovate Artificial intelligence (AI) is making its presence felt across many industries—and the accounting profession is no exception.

accounting jobs 52

accounting jobs accountant jobs accounts jobs Account 52

ThomsonReuters

JULY 13, 2023

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. To learn more, let’s take a look at three ways accounting firms can use AI as a competitive advantage.

Tax 97

Tax Technology accounting firms income tax 97

CPA Practice

JUNE 29, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss technology trends for audits. Welcome to Technology Lab. And we want to talk about some audit technology trends in specific about data driven audits and 100% testing. Well, with automation, the change, the calculus has changed somewhat on that.

Technology 52

Technology audit general ledger Start-ups 52

ThomsonReuters

JANUARY 16, 2024

Why is overall accountant wellness important? Making occupational wellness a priority Tax and accounting professionals are known for working hard, especially during tax season. Why is overall accountant wellness important? As an accountant, you face multiple pressures every day that can affect your health and happiness.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

FEBRUARY 24, 2023

This is due, in part, to a growing number of private equity firms entering the accounting market. As Allan D. Koltin, CEO of Koltin Consulting Group, explained, private equity firms perceive accounting firms as being low risk, high reward. How does integrated technology make firms attractive to buyers or venture capital?

accounting firms 59

accounting firms Account accountant accounted 59

ThomsonReuters

AUGUST 1, 2023

Thomson Reuters set out to answer that question by surveying more than 100 CPAs who are currently employed as accountants. The results show that tax and accounting professionals know exactly what they want in an employer—and here’s how firms can heed the call. The answer lies in using technology to your advantage.

Account 98

Account accountant accounted accounting firms 98

ThomsonReuters

AUGUST 3, 2023

In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. Enhancing reputation and credibility Specialization builds a reputation for excellence and credibility within the accounting industry.

accounting firms 98

accounting firms Account accountant accounted 98

ThomsonReuters

AUGUST 5, 2022

When making the business case for investing in automated indirect tax technology (IDT) and technology implementation, what the company stands to gain in terms of efficiencies and return on investment (ROI) are certainly important key factors, but the discussion must eventually come around to cost. Licensing costs.

Technology 52

Technology Tax E-commerce accounting and finance 52

ThomsonReuters

DECEMBER 13, 2021

For indirect tax teams, the question of whether and when to invest in more tax technology often looms large, depending on the size of the organization and the immediate challenges facing the department. So when is the right time to invest in indirect tax automation ? Get ahead of indirect tax problems. Reduced support costs.

Technology 52

Technology Tax corporation tax audit 52

ThomsonReuters

JANUARY 9, 2024

To do this, there are three key considerations to bear in mind: Harnessing technology will be central to managing 2024 GMT requirements efficiently Navigating the intricate web of new regulations entails overseeing the distinct rules set across 138 countries in the BEPS initiative.

Tax 88

Tax Technology income tax audit 88

ThomsonReuters

MARCH 8, 2024

As busy accountants, it’s easy to get stuck in survival mode. How can you build your service offerings to better serve your clients and grow your CPA firm through accountability? Accounting firms face an array of challenges, such as new technologies, increased client demands, legislative changes, and staffing constraints.

cpa firm 96

cpa firm CPA Technology Tax 96

ThomsonReuters

FEBRUARY 9, 2024

Societal concerns: The act underscores broader societal concerns about income inequality and corporate accountability, urging tax firms to engage in discussions aligned with financial goals and ethical responsibilities. Also, the act addresses the use of optical character recognition (OCR) software. What does this mean for my firm?

Tax 110

Tax tax return Technology income tax 110

CPA Practice

JANUARY 30, 2024

The survey of over 1,300 C-suite and senior finance and accounting (F&A) professionals in the US, Canada, UK, France, Germany, Australia, and Singapore reveals the factors business and F&A leaders globally are worried will disrupt their organization and the broader business and economic environment.

accounting and finance 117

accounting and finance Technology Finance Account 117

ThomsonReuters

JUNE 28, 2023

To do this, auditors must leverage technology and data analytics to innovate and sustain their edge over the competition. In this article, we will explore how using data analytics and automation can help enhance the auditing process, achieve greater operational efficiency, and ultimately set your firm apart.

audit 98

audit Technology auditor Start-ups 98

ThomsonReuters

APRIL 19, 2023

The accounting and audit profession is undergoing significant changes as a result of the rapid advancement of technology. While some have expressed concerns that automation may replace human auditors, the reality is that technology is here to enhance the profession rather than replace it.

audit 105

audit Technology auditor Start-ups 105

PYMNTS

APRIL 19, 2017

Change within the enterprise will always bring friction, but when it comes to change brought about by the adoption of more sophisticated technologies — especially in accounting and cash management — that friction is worth the effort. But the picture of technology adoption is a complex one, as cloud accounting company Sage has shown.

Technology 47

Technology Account accountant accounted 47

ThomsonReuters

MARCH 12, 2024

Jump to: Identify the common barriers to change Overcome the barriers with communication Reframe the narrative Remember your clients Set the expectations for adaptation Running an accounting firm can feel like you’re constantly chasing changes. These tips should help your firm prepare for and maximize the benefits of change.

cpas 52

cpas Technology accounting firms Tax 52

TaxConnex

APRIL 28, 2022

Technology hasn’t just made interstate selling easier. In many ways, virtual audits are just like traditional audits, except audit activity takes place remotely and digitally,” reads the blog of the accounting consultancy Floqast. And of course, save paper. Virtual audit is a real threat. It’s also changed auditing.

audit 174

audit auditor general ledger Minnesota 174

ThomsonReuters

NOVEMBER 15, 2021

Furthermore, most companies and government tax agencies are now digitally connected, so tax authorities expect companies to pay indirect taxes in real time, as they are collected and sometimes in advance, which puts pressure on tax compliance teams to automate as much of the process as they can. White paper: The Future of Tax Departments.

E-commerce 52

E-commerce Technology Tax corporation tax 52

ThomsonReuters

AUGUST 24, 2021

To build a persuasive business case for sales tax software , professionals need to explain how automating certain tax functions and improving reporting and analysis will benefit the company as a whole. Specifically, you need to show the technology’s return on investment (ROI). Reduce sales tax compliance liabilities from audits.

Technology 52

Technology Sales Tax audit 52

ThomsonReuters

MARCH 20, 2024

Omnichannel’s biggest challenges Robert Kleppel , a partner in KPMG’s indirect tax technology national practice, kicks off the webinar by summing up what he thinks are the most pressing issues facing omnichannel tax professionals today. Learn how tax automation can transform the omnichannel retail experience in our recent white paper.

Retail 52

Retail Tax Technology auditor 52

ThomsonReuters

JANUARY 14, 2022

Being an accountant means that work often comes in ebbs and flows. It’s a significant issue for tax professionals and accountants. Being an accountant is different. Whether you are a remote worker or managing a full accounting firm, stop the burnout before it starts. Delegate and automate. What is burnout?

Tax 98

Tax Technology Start-ups accounting software 98

CPA Practice

NOVEMBER 6, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. The program allows UMCS students to kickstart their careers by developing their accounting, finance, and business skills and earning prestigious professional qualifications alongside their university studies.

Texas 114

Texas Georgia accounting and finance Virginia 114

ThomsonReuters

NOVEMBER 2, 2023

The second major driver of this skills gap is the influence and adoption of technology at almost every level of global trade. Generative AI is set to streamline trade compliance processes by automating tasks like generating trade documents.

Technology 52

Technology Legal Government Maine 52

ThomsonReuters

APRIL 8, 2024

“Tax, more than ever before, is going to need a seat at the table,” Lear said, noting that there are ways that tax, finance, and accounting professionals can take the opportunity to embrace technology, develop new skill sets, and get a much more strategic role within an organization. And you need to make sure it’s qualified.”

Tax 52

Tax Technology accounting and finance Gaming 52

ThomsonReuters

MARCH 13, 2023

More recently, in April 2022, New Mountain Capital announced a majority investment in professional services firms Citrin Cooperman.  These investments marked a notable transformation in the profession, with the realization among private equity firms that investing in large accounting firms can yield great returns.

Technology 59

Technology accounting firms Tax audit 59

ThomsonReuters

MARCH 28, 2023

Tax and electronic invoicing technology can certainly help companies streamline their compliance processes by automating the way data is gathered and transmitted in the proper format and proper way, to tax authorities. What are the benefits of automation?

Tax 59

Tax Technology corporation tax Government 59

ThomsonReuters

JUNE 14, 2021

Tax & Tech Talks: How AI and Machine Learning Can Help With K-1s. Subscribe to Tax & Tech Talks podcast on Spotify , Libsynpro , and Apple Podcast apps. _. An Automated Solution. How Tech Can Help You Navigate the New Tax Rules and Tax Trends. Watch the entire episode.

Technology 98

Technology corporation tax Tax Real Estate 98

ThomsonReuters

FEBRUARY 9, 2023

As accountants, there’s no way to avoid the hectic nature of tax season. From carving out dedicated personal time to implementing time-saving tools and technology, let’s take a look at three ways you can shift out of survival mode and thrive not only during tax season but all year long. How can I make my tax season easier?

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Tax tax return Technology accounting software 59

ThomsonReuters

JUNE 8, 2023

When reviewing your processes, it is essential to evaluate existing technology and software to determine if it is meeting the needs of your practice. By taking advantage of technology solutions like these at your fingertips, your tax practice can reach its full potential while providing excellent service during tax season – and beyond!

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Tax Technology tax preparation cpa firm 52