tech and fintech

revenue up at 59% of accounting firms … and more good news

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financial graph on blackboard

technology is key for competitive advantage.

by 卡塔尔世界杯常规比赛时间 research

the 2024 accounting industry report from wolters kluwer cuts through a lot of the underbrush of sentiments and anecdotal evidence about the state of the accounting business today. backed by statistical data, the report presents a some significant truths about the state of the industry.

more: compensation’s up, but up enough to retain staff? | are accountants charging too little? | revenue growth is top priority for small firms | is the cpa business model the clog in the pipeline? | accountants cozy up to clients with cas | survey: cpas culling clients for better work-life balance | women-owned businesses upbeat but need help | accountants to the rescue as startups struggle | looking for recent grads? good luck | what the corporate transparency act means for accountants | understanding the full cost of a data breach | why the u.s. must act now to protect our online privacy
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and the general state is good. most firms are growing, profitability is up, new services are surging, and serious practices are making efforts to improve the quality of client experience.

here are some of the most notable facts.
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breakthrough implant uses excess blood sugar to generate electricity

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a medical breakthrough in one area could translate into ground-breaking solutions in others.

by rick richardson
technology this week

scientists at the department of biosystems science and engineering at eth zurich in basel have created a unique implantable fuel cell. it produces electrical energy by utilizing extra blood sugar, or glucose, from tissue.

more: one state is now america’s clean energy paradise | microsoft moves further into nuclear development with new director | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | major websites blocking content from ai crawlers | electronic skin that can sense touch will transform robotics | four of today’s new technologies that will be tomorrow’s ‘norm’
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this achievement could usher in a new era of self-powered implantable medical devices and help people with type 1 diabetes and other chronic ailments that need constant monitoring and care.

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got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing

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… not to mention $856 per week per employee in savings.

by sandi leyva

in the 10 months that i have been teaching chatgpt, i’ve noticed about a third of my webinar participants have set up a free account with openai’s chatgpt, where they have access to chatgpt version 3.5. another third have invested a whopping $20 per month for the paid version, and the remaining third don’t have an account at all. a tiny number of participants are lucky enough to have companies that have invested in the enterprise version of the software.

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and these are accounting and tax professionals who are eager to learn chatgpt. if you haven’t embraced the paid version of chatgpt (individual, teams or enterprise), it’s time to learn what you’re missing.

 

 

check out our courses on chatgpt,
offered as a deep discount bundle or separately.
webinar schedule:
more chaptgpt here

while the free version of chatgpt can generate answers to thousands of questions, it can’t:

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accounting disruptors are heading your way … with deep pockets

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if you’re not ready to make your move, you’d better hope your competition isn’t.

by jody padar
the radical cpa

change isn’t just knocking at your door; it’s kicking it down. we’re in the middle of a major transformation because of new players, cutting-edge technologies and a financial surge. the rules are being rewritten before our very eyes.

more: the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you consider accounting a giant chessboard, many players are making strategic moves. you have the old-school firms on one side who are navigating a rapidly changing landscape. on the other side, you have the new-school disruptors. these innovative entities are reshaping the industry with cutting-edge technologies and fresh approaches.

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six steps to battle cybersecurity risks

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what cost or time investment would you pay to protect your firm and your clients?

by donny shimamoto
cybersecurity for accountants

when it comes to cybersecurity, one risk aspect to consider is whether or not the steps you’ve taken to protect clients’ pii will stand up in court in the event of litigation related to a data breach or damages to a client because of a cybersecurity issue caused by your firm. during litigation, opposing counsel will often bring in cybersecurity experts to describe cybersecurity best practices—which are often a higher level of controls than just compliance.

more: understanding the full cost of a data breach | the 7 categories of of cybersecurity solutions firms need | future firm growth requires a mindshift | donny shimamoto explains how ‘agile’ applies to cpa firms | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

be sure to consult with both your cybersecurity advisor and legal counsel to determine which controls you may still want to implement even if you qualify for some of the exemptions. many controls, like the ones identified in the ftc exception, do not cost much to implement and can demonstrate that you still fulfilled your professional obligation to protect clients’ data—reducing your litigation risk.

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