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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.
The 2024 State of the Corporate Tax Department report by Thomson Reuters Institute highlights these pressing issues, making a compelling argument for increasing technology budgets to unlock new levels of efficiency and strategic value. Currently, only a small fraction of the average tax department’s budget is dedicated to technology.
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.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies. Automate to Accelerate 🤖 See how automation eliminates manual handoffs and cuts processing time. It doesn't have to be this way!
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.
Finance leaders can make progress toward maximizing visibility and minimizing spend by quickly adopting emerging technologies, including AI and automation.
A recent report from CPA.com says that semi-autonomous AI bots are already completing bookkeeping workflows start to finish, fully automating the process.
Jump to ↓ The strategic role of tax technology Budget disparities and satisfaction levels The rise of Generative AI (GenAI) Key findings at a glance The future trends of tax technology Strategic takeaways and future directions The tax and accounting landscape is undergoing a seismic shift, driven by rapid technological advancements.
Technology is rapidly changing the way accountants perform and manage month-end activities. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
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 Soraban , an AI-powered system that revolutionizes your practice’s client data intake process by automating and simplifying every step. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor.
The AI agents include: Accounting Agent: Automates bookkeeping and transaction categorization, and helps with reconciliation of the books. Payments Agent: Improves cash flow by helping businesses get paid an average of five days faster by predicting late payments, automating invoice tracking, and creating and sending invoices and reminders.
These new features are an addition to the softwares already-present ability to streamline control documentation, automate testing and monitoring, and provide real time insights. Embedded directly into workflows, the agents can automate tasks across accounting/finance, HR, compliance and operations.
Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Field of Study: Accounting.
Accounts Payable (AP) automation is the use of technology to digitize and optimize the invoice-to-payment process within an organization. This technology addresses a major drain on finance teams’ resources: the manual, repetitive work that consumes hundreds of hours annually. ” While 63% of U.S.
Stampli launches middle ground solution for AP automation robu_s - stock.adobe.com AP automation solutions provider Stampli debuted Stampli Edge, a middle ground solution for small businesses that have outgrown basic bill pay tools, but dont yet need a full enterprise suite. jurisdictions.
What began in 2014 as a tool to automate overdue invoice reminders has evolved into a globally recognized platform, and has empowered over 7,000 businesses to manage credit control efficiently. Recent years have also seen Chaser further advance its automation capabilities, to make invoice payments faster and easier for businesses.
Firms can fully automate the client intake process, communication, review, delivery and archive workflow in one secure platform. SmartRequestAI is built directly into the SmartVault platform and leverages prior-year returns stored in SmartVault, minimizing risk to the firm of exposing client tax information to additional third-party systems.
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. See how automating tax return assembly and delivery through eSign results in $12k saved for every 1k returns.
Jump to The transformative potential of AI in advisory Breaking through traditional pricing models Empowering teams through technology Challenges and considerations when adopting tech and AI Embracing technology to unlock advisory services Today, many forward-thinking accounting firms are driving business growth through advisory services.
The accounting landscape continues to evolve at a rapid pace with emerging technologies, shifting workforce dynamics, and new operational demandsall of which impact the way accounting teams operate, and businesses achieve growth goals. ” Today, CFOs are no longer working in silos or scrambling to provide retroactive financial reports.
Learn how Avalara integrates seamlessly with your existing tech stack, saving time, reducing costly errors, and hear firsthand from a firm that has supported clients through their tax compliance journey. Kenji Kuramoto is founder and CEO of Acuity, which has been named a Top Firm for Technology and Top Firm to Work For by Accounting Today.
A Top Technology Initiative Article by Randy Johnston. The outlook couldn’t be brighter with new opportunities, technologies, challenges, and clients looking to take advantage of your service offerings. In this column, I will illustrate portal and AI support with some new platforms that are examples of improved automation and AI.
Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. From automation to generative AI, learn how to optimize workflows, reclaim valuable time, and attract top-tier talent with cutting-edge technology.
Prager Metis teams with Kearns Technology to launch "PM IT Services" Top 100 firm Prager Metis announced it has partnered with Canadian IT company Kearns Technology to launch a new company, PM IT Services, a digital solutions provider delivering cybersecurity, cloud modernization and managed IT services across North America and Europe.
Accounting advisors pointed to the top issues impacting their clients, with 61% citing inflation, costs and pricing; 60% naming tariffs and trade impacts and uncertainty; 59% pinpointing unease around new tax legislation; 42% identifying ongoing labor supply and wage issues; and 37% citing technology and AI adoption as a priority.
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.) Randy Johnston 00:10 welcome to the accounting Technology Lab. I mean, I knew the people, but I didnt know the product.
As John Egan, CEO of L’Atelier, once noted, the bigger challenge to prediction isn’t forecasting technological change, but understanding societal change. Nor can we fly around in high-tech metal suits. Yet we are seeing faster digital payments, and automated e-invoicing.
Speaker: Michael Ly, CEO of Reconciled, and Chris Elmore, UNCC Professor and Chief Evangelist of AvidXchange
The common fear about automation today is the belief it will displace millions of jobs. While it could make certain functions obsolete, a more optimistic view is that automation enables people to re-center their workday on more essential, purposeful functions. But technology is only as good as the people it serves.
Increasingly, that response is coming in the form of investments in technology to improve efficiency and drive new business growth. 1 priority across all firms for this year is to improve efficiency and add more technology. Thats where things get more complicated.
Embracing digital transformation and intelligent automation Legacy systems and manual processes create costly “tech debt,” leading to significant inefficiencies, errors, and increased audit risk. This isn’t just an IT issue; it’s a strategic and financial drag.
It’s about attracting the type of high-potential talent that can more effectively meet the needs of their organizations by fully embracing and leveraging new technologies to become exponentially more efficient. Great accountants expect interesting roles and tech-forward careers Ask someone outside of our profession to imagine an accountant.
CEO Mary Delaney described it as combining everything Karbon Practice Management already is, with a new intelligence layer woven throughout the platform to power deeper insights, smarter automation and bolder strategic decisions. Karbon Practice Management evolves into Practice Intelligence product Karbon accepts Talent Visionary Award.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration.
With talent shortages looming and technological advancements accelerating, tax departments are at a pivotal juncture. Among these resolutions are workforce retention programs, automation and technology integrations, while also considering resource and budget allocations.
The accounting profession stands at a pivotal moment where technological advancement intersects with environmental stewardship. Modern audit firms recognize that embracing digital confirmation processes isn’t merely about keeping pace with technology trends — it’s about fundamentally reimagining how verification work gets done.
2024 was certainly a year of discovery and rapid progression for AI and automation. For the finance function specifically, there have been ongoing enhancements to automation capabilities for tasks such as invoicing and expense management. The challenge for CFOs is working out what elements are useful and where it can be used.
OBannon Technology June 5, 2025 Review of Power Automate – The Accounting Technology Lab Podcast – June 2025 Randy Johnston and Brian Tankersley, CPA, review Microsofts Power Automate, one of the robotic process automation tools available from Microsoft 365.
When a crisis hits, HR technology gives business leaders the data, tools, and support to make important business decisions quickly. In this report, Josh Bersin outlines why HR tech is more important than ever and how it can help small and medium businesses throughout times of crisis.
OBannon Billtrust , a B2B accounts receivable workflow and payment software market leader, has added new innovations in its Collections solution, delivering a new standard for AR teams by unifying advanced automation, AI-driven insights, and seamless agentic AI workflows.
The 2025 Intuit QuickBooks Accountant Technology Survey is out, and the future for accountants is looking both smarter and more complicated than ever. According to Intuit, accountants are charging full speed ahead into the world of AI, automation, and strategic advisory services. But is this transformation as rosy as it sounds?
Incorporating Automation and Artificial Intelligence Automation and artificial intelligence (AI) can significantly speed up the financial close process to help companies close their books more quickly. Blurring Roles of Finance and IT Skills Technology is increasingly automating financial tasks and computations.
Tech-forward accounting firms aren’t just keeping up, they’re pulling ahead. By embracing affordable automation tools, consolidating tax and accounting workflows, and adopting the latest technology, these firms are unlocking efficiencies that reduce costs and free up time.
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.
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