article thumbnail

Accounting Firm Leaders Cite ‘Rising Salaries’ As The Second Biggest Problem Facing Their Firms

Going Concern

Firms have to pay talent so much more, in fact, that many of them share the concern of Glen Swanson, CFO at MHCS in Iowa, about “maintaining profitability while having to significantly increase salaries.” Ah to go back to the days when they were threatening to put you out of work!

article thumbnail

Black Ore Launches with $60 Million in Funding to Bring AI to Financial Services

CPA Practice

As part of today’s launch, Black Ore also announced its flagship product, Tax Autopilot , which combines its proprietary AI technology with federal and state tax codes and regulations to simplify the tax preparation and review process for Certified Public Accountants (CPAs) and accounting firms.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Investment in technology: How much time does your firm waste?

ThomsonReuters

For today’s accounting firms, advanced technology is no longer an option but a necessity. To keep pace in an increasingly competitive landscape, forward-looking firms are investing in artificial intelligence (AI) solutions to automate tax workflow, open up additional revenue streams, and better serve clients.

article thumbnail

Revolutionize your talent strategy with automation

ThomsonReuters

Today’s accounting firm leaders are constantly grappling with two pivotal challenges: attracting top-tier talent and holding on to the people they have. This shift allows firms to reallocate their talent to more engaging, high-value tasks, fostering a more stimulating and rewarding work environment.

article thumbnail

How to streamline accounting processes—a step-by-step guide

ThomsonReuters

Use automation to generate tailored document request lists and the retrieval of documents while using APIs to automate integration with your tax, document, and workflow software. . Tax preparation. Automate workpaper preparation and data entry with an option to outsource data verification.

article thumbnail

ChatGPT Isn’t Terminator for Accountants…Yet

Going Concern

TurboTax and QuickBooks are full of rudimentary AI features and already have reduced the need for some bookkeepers and tax preparers. The products can sort accounts, predict the other side of a journal entry, and populate a tax form with high accuracy. It isn’t just another game, it’s a different sport.

Account 113
article thumbnail

8 Benefits of Online Bookkeeping

xendoo

Why not rely on an online accounting service to take these tasks off your plate so you can focus on your business? Today, we’ll take a closer look at the business benefits of online bookkeeping and see how these services can help you to get your head out of the books and back in the game. You need a solution that matches these needs.