artificial intelligence

2019: the biggest tech changes yet

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new data tools mean new opportunities for trusted advisors.

by roman h. kepczyk
the rosenberg map study of cpa firm statistics

outstanding! this is the most profitable year ever with similar sentiments echoed by virtually every firm i partnered with.

more from the map survey: why you need a tech strategy consultant | 2019: tech isn’t the problem. it’s the solution | 2019: using m&a to launch consulting | 2019 trends: client service changes | staff policies improve, but not mentoring
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with my focus being strategic it production and workflow, i’m seeing the cloud, workflow optimization, and security surfacing as the top three trends impacting firms. read more →

2019: how partner greed kills firms

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partners must take a hit to personal incomes to re-invest in their firms. or face obsolescence and slow death.

by rick telberg
the rosenberg national map study 

so far, profitability is way up. at the large firms (those with at least $20-million in annual billings), income per partner averages $635,000. the highest earners are pocketing about $1.2 million. even the lowest-paid partners average of $282,000. but how long can that go on?

more from the map survey: 2019: more focused training | 2019: expect more alliances | 2019 trends: client service changes | 2019: shifts in hiring & office space | 2019: firms grapple with change | staff policies improve, but not mentoring
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the always insightful and provocative allan koltin, of koltin consulting, warns: partners must invest in something besides themselves – if they want their firms to survive.
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why you need a tech strategy consultant

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what to do with these new capabilities? commercialize them, of course.

by gale crosley
the rosenberg survey: national study of cpa firm statistics

last year was a tipping point, as firm leaders began to convincingly acknowledge the fact that technology is going to rock their world. it was the year our colleagues finally got the memo that the profession is poised for transformation. now the debate is around how quickly and in what sequence.

more from the map survey: 2019: three new trends to watch | 2019: why small firms shun mergers | 2019: using m&a to launch consulting | 2019: client service moves to fore | 2019: expect more alliances | 2019 trends: client service changes | 2019: shifts in hiring & office space | 2019: firms grapple with change | staff policies improve, but not mentoring
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this is hardly the first time we’ve had to grapple with significant change. but never have so many promising technologies come to practical commercialization at once.
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2019: buckle up for a bumpy road

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global trade wars, political winds buffet business.

by kayleigh padar
卡塔尔世界杯常规比赛时间

cpas should be prepared to help their clients navigate an increasingly unstable global economy and burgeoning challenges with technology, particularly cyber threats, according to a new global study of c-level executives.

more surveys & research: jobs report: 43,000 new hires  |  cpa wealth advisor survey  |  survey: clients rush for tcja answers  |  join the accounting firm and operations technology survey  |  mergers vs. clients: winners and losers  |

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the annual study from atkearney shows a bumpy road ahead for global executives, from the effects of brexit to the increase in targeted fake news campaigns. read more →

2019: why small firms shun mergers

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leadership and “business-getting skills” emphasized for managers.

by rita keller
the rosenberg survey: national study of cpa firm statistics

when considering a succession plan that involves merging up, some very well-managed and profitable smaller firms actually feel like they are taking a step backward.

more from the map survey: 2019: using m&a to launch consulting | 2019: client service moves to fore | 2019: shifts in hiring & office space
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they view the larger, acquiring firm as having multiple partners who seem complacent and unwilling to invest in digital tools that will take the firm into the future. decision-making is way too slow.

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2019: shifts in hiring & office space

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also: firms rethink retirement age.

by allan koltin
the rosenberg survey

the issue of capitalization has definitely come to the forefront. with all of the changes taking place in the profession, trends ranging from technology (artificial intelligence) to new products and services, it is apparent that firms will need to make significant investments if they want to remain competitive.

more from the map survey: efficiency can help prevent slowdowns | staff policies improve, but not mentoring
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this dynamic brings in new issues of overall firm profitability, as well as the potential compression of current partner earnings. it is a classic case of the investment in innovation vs. the wants and needs of partners in terms of compensation.
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how accountants can ride the artificial intelligence wave

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let machines crunch the data. you provide the insight.

by hitendra r. patil and eli fathi

you are already riding the ai wave to some extent because, most likely, your car has some ai built into it. you ride it to work. how about riding artificial intelligence at and in your work?

more on entrepreneurial strategy: automation makes it easier for accountants to offer cybersecurity | the why, what and how of cybersecurity for accountants  | the client of the future | urgently required: a new definition of accounting | is blockchain a cloud killer? | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms | 4 pillars of future firm foundation | do you want a practice … or a business? | 3 apps to automate business networking
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in today’s economic environment, it’s not enough to offer services in the same way that it’s always been done and hope that business will thrive. many accounting firms are embracing new technology, such as robotic process automation, cloud-based analytics and dashboards to offer a competitive edge but the industry has come to a crossroads. while these computer-assisted and rules-based tools are considered the norm, ai and machine learning solutions are driving the leading edge.
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blockchain: what you need to know now

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20 key concepts for now. 5 key questions for the future.

by hitendra patil
accountaneur

social media. big data. automation. artificial intelligence. machine learning. there is already a lot of technological impact on the accounting profession. now comes blockchain.

more: the what, why and how of artificial intelligence for accountants | the client of the future | the rise of the robot accountant: opportunity or threat? | six never-before opportunities for the accounting profession | urgently required: a new definition of accounting | certified blockchain accountant: from cpa to cba
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as a cpa, should you worry about blockchain? let’s examine.

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the what, why and how of artificial intelligence for accountants

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how practical, affordable ai is already transforming accounting.

by hitendra r. patil and eli fathi

fathi

co-author eli fathi is ceo at mindbridge ai, developer of the world’s first auditing tool based upon artificial intelligence and machine learning technologies – the ai auditor – to uncover errors in financial data. he attended algonquin college and the university of ottawa, where he earned a master’s degree in engineering. fathi has been a technology entrepreneur for over 30 years, having founded or co-founded numerous technology companies including fluidware corp. he currently sits on the boards of the ontario chamber of commerce, start-up canada, and c-com, a company that develops satellite-based technologies.

artificial intelligence (ai) tends to conjure up images of sci-fi movies, with costly computers replacing humans for some sinister purpose, but the reality is much more collaborative and effective.

while ai has been adopted by many industries, its adoption rate in financial services has been relatively slow, and for understandable reasons. but you can get a feel of ai’s possible impact when you see that 76% of banking cxos agree that adopting ai will be critical to their organization’s ability to differentiate in the market.

practical, affordable ai is here, and the question is not whether or not to adopt, rather it is how quickly to get on board to differentiate in the quality, effectiveness, and efficiencies that ai-based solutions can provide.

ai is poised to transform the accounting industry. let’s see why.

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the client of the future

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the five mega-trends that will make or break your “firm of the future.”

by hitendra patil
accountaneur

your client of the future will be vastly different from your client of now. you won’t have a firm of the future without understanding the new breed of client.

more accountaneur: the rise of the robot accountant: opportunity or threat?  |  six never-before opportunities for the accounting profession  |  urgently required: a new definition of accounting  |  卡塔尔世界杯常规比赛时间 author named top 10 to follow on social media in 2018  |  you cannot prove your value  |  certified blockchain accountant: from cpa to cba  |  who wants to be a comptometrist?  |  blockchain: questions are the answer  |  the 7 experiences millennials want from your firm  |  is blockchain an extinction event for accountants?  |  is blockchain a cloud killer?  |  22 ways blockchain will change the accounting profession forever  |

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like most accountants, you probably have faith that numbers tell a story. so, let’s look at some numbers and seven mega-trends that can help you get clarity about your client of the future. read more →

how partners fail

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midsection of businessman moving out with cardboard box from officeand why: the metrics every cpa needs to know.

by domenick j. esposito
8 steps to great

“status quo, you know, is latin for the mess we’re in.”

– ronald reagan

you have heard it many times before. worse yet, you are living it today.

more on strategic planning: ineffective management is hazardous to your firm’s health | why do we accept poor new business results? | the link between strategy and winning on value | focus on an enhanced client experience | 22 things leaders must do | 21 questions to help unlock accelerated growth | m&a candidates: valuations and vetting
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today, many small and midsized cpa firms are being challenged by slow organic growth coupled with:

  • an unprecedented pace of technological change
  • very intense margin pressure
  • too many competitors
  • a shortage of qualified talent (particularly in the tax area)

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mergers vs. clients: winners and losers

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as firms pursue m&a at any cost, who’s taking care of the clients?

2008-2017: two years of slowdowns in organic growth rates signal a bevy of underlying problems. (rosenberg survey)

by rick telberg
rosenberg survey

golden and loerzel: problems in merger strategies

the many challenges tax and accounting firms face today can be daunting:

  • accelerating changes in technology (now reaching beyond blockchain to the frontiers of artificial intelligence)
  • staffing shortages (not just a rarity of professionals but too few up to speed on regs and tech)
  • a new generation (young professionals who expect flex time, time off, telecommuting, fewer hours, and similar perks and benefits)
  • an old generation (baby boomer partners working more years but getting older nonetheless)
  • increased competition crossed with ever-evolving marketing media (a battlefield unknown to people trained only in accountancy)
  • the evolution of auditing (or is it an ongoing revolution?)
  • new client opportunities (maximizing potential of niches, it service, consultation, etc.)

practitioners in firms large and small are doing their best to meet the challenges, but meeting challenges can divert energy and effort from actually growing a business.

and merger mania may be to blame.

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seo: what are realistic returns?

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roi illustrationbonus: screenshots to help you track your efforts.

by becky livingston
the accountant’s social media handbook

now that you’ve put all this effort into your site speed, keyword research, meta tag implementation and more, what can you expect in return?

more: top 20 social media hacks to build your business | get found online: four mobile seo tips | quick tip: accelerated mobile pages | why you need an ssl certificate now | why tracking urls are so important | what goes into a buyer persona? | what is seo and why is it important?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

seo is a marathon, not sprint.
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