Remove blog what-are-data-driven-insights
article thumbnail

Embracing the GenAI wave: Key insights for tax and accounting professionals

ThomsonReuters

When it comes to the tax and accounting profession, GenAI is ushering in a new era of increased productivity, efficiency, and data-driven insight. For accounting firms, GenAI offers the ability to streamline processes, boost efficiency, and derive meaningful insight from client data. Tax research and compliance.

Tax 52
article thumbnail

Auditor evaluation deficiencies are more frequent than you think: How to ensure an accurate data review

ThomsonReuters

Auditors rely on data review to ensure the reliability and integrity of financial statements. However, manual data review processes can be time-consuming, prone to errors, and may not provide a comprehensive view. Accuracy refers to the correctness of data, while completeness ensures that all necessary information is present.

auditor 52
Insiders

Sign Up for our Newsletter

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

article thumbnail

How do different accounting firms use AI?

ThomsonReuters

This shift is driven by the realization that AI can automate mundane tasks, reduce errors, and free up accountants to focus on higher-value advisory roles. This shift is driven by the realization that AI can automate mundane tasks, reduce errors, and free up accountants to focus on higher-value advisory roles.

article thumbnail

The power of Assisted Decision Making in Thomson Reuters Cloud Audit Suite

ThomsonReuters

The introduction of AI is marking a transformation in audit, empowering audit firms to harness the power of data analytics and machine learning for enhanced efficiency, accuracy, and profitability. In addition, AI facilitates predictive analytics , which can help auditors anticipate potential risks and trends based on historical data.

audit 98
article thumbnail

How small businesses can get themselves ready for Cyber Monday

Xero

This guest blog was written by the team at ecommerce accounting integration, Amaka. But what are some of the best ways to make the most of the time? This allows you to easily track and report on Cyber Monday sales – unlocking insights that can help inform any future business decisions.

article thumbnail

Mastering the art and science of exceptional client service

ThomsonReuters

This shift towards an advisory approach is driven by the desire to strengthen client relationships and become trusted advisors. Among the many AI-powered tools available, automation, real-time collaboration, data analytics, and CRM integration stand out as game-changers, offering a myriad of benefits to both accounting firms and clients.

article thumbnail

Introducing Intuit Assist for QuickBooks, A Trusted Business Assistant by Your Side

CPA Practice

By surfacing powerful and relevant insights based on business performance and their customers’ behavior, Intuit Assist will help guide small businesses on the spot and enable them to make informed business decisions. Intuit Assist will intuitively know what is top of mind for small- and mid-sized businesses of all types.