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Many companies turn to technology, believing that investing in new systems will automatically boost efficiency. The adoption of new technology also requires investment in training, as systems are only as effective as the people using them. Moreover, many employees fear that automation will lead to job loss, and this concern is valid.
Although technology has enhanced risk management, it has not eliminated the root vulnerabilities. While automation, AI and analytics can detect anomalies, they cannot build ethical cultures. Their expertise ensures technology is an enabler, not a substitute, for vigilant fraud prevention.
Brian Tankersley, CPA, and Randy Johnston review HubSync , an all-in-one, modern client platform which automates the tax return and other key processes and provides a single gateway to drive “Best-in-Class” collaboration between professionals and their clients. Randy Johnston 00:04 Welcome to the accounting Technology Lab.
The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x. Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) They are venture backed.
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Partnerships and integrations Compliance solutions provider Sovos has partnered with Shopify to launch Shopify Tax automated filing, a new feature that automates the preparation, filing and remittance of sales tax returns for Shopify merchants.
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A recent report from CPA.com says that semi-autonomous AI bots are already completing bookkeeping workflows start to finish, fully automating the process.
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Modern tax provision software automates complex calculations, improving accuracy and saving valuable time for finance teams. Automation enables better forecasting and planning, turning tax provision into a proactive tool for business decision-making. Modern technology offers a transformative solution to these age-old challenges.
Critical thinking, sustainable finance, technology and human behavior are not just supplementary topics; they are essential components in the education of any professional seeking to remain relevant. This new program positions analytical thinking, strategic business partnering and technology application at the core of accounting education.
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These skills also help the IMA connect with professionals in related fields, such as data analysis, business operations, information technology, and project management, who work closely with finance teams and share similar goals and challenges, the organization added. Customers U.S.
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OBannon Leave a Reply Cancel reply Δ CPA Practice Advisor is the definitive technology and practice management resource for accounting and tax professionals. CPA Practice Advisor has products that deliver powerful content to you in a variety of forms including online, email and social media.
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