artificial intelligence

is blockchain a cloud killer?

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computer monitors morph into chain linkswelcome to an accounting model that’s predictive and always on.

by hitendra patil
accountaneur: the entrepreneurial accountant

let’s talk about the technology behind blockchain.

more on entrepreneurial strategy: 22 ways blockchain will impact the accounting profession | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth
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you have accessed information from the internet for quite a few years. now you have started accessing information on the cloud.
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how artificial intelligence will drive the next wave of merger mania

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large fish eating medium fish eating small fishit may be time to prepare a plan b.

by domenick j. esposito
8 steps to great

we are halfway into the year 2017 and the frenzied pace of cpa firm mergers and acquisitions – when compared to the years 2015 and 2016 when there were over 100 and over 200 transactions, respectively – has not slowed down one bit.

more on strategic planning: what a value proposition truly is (and isn’t) | the importance of m&a culture due diligence | are you attracting the new breed of equity partners? | quality work, quality service not the same thing | who will be the next category killer? | why is strategy execution so difficult? | time running out for succession planning | the benefits of a client situation review
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we continue to witness a perfect storm caused by:
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keep pace first, change will come (like it or not)

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man scratching head while standing at crossroadsbuckle up, buttercup, but remember the choices are yours.

by seth fineberg
accounting firm operations and technology survey

if you’ve been paying attention, albeit sporadically, you’ve gleaned that the accounting profession as a whole – much like small businesses in general – is at a crossroads.

more from afots: you’re not tech-savvy if you’re not cyber-safe, too | lions and tigers and blockchain and bots, oh my!
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lions and tigers, blockchain and bots, oh my!

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digital computer blockchain illustrationexpect more drudgery to be automated.

by bob scott

many accounting professionals are still grappling with mobile devices, social media and cloud computing. but the next big things are already being hyped and debated.

and even though they will take years to move into the practical realm for practitioners, it’s time to at least learn the buzz words and understand the concepts because these technologies have the potential for as much change and disruption as we’ve seen in the things we are still trying to understand during the current century.
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how to beat automation in accounting

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classic drawing/puzzlefour frustrations … and which one to focus on.

by hitendra patil

do you see an old lady or a young lady or both?

more on entrepreneurial strategy: podcast: how to become a true ‘accountaneur’ | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars | you don’t think technology helps get new clients?
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according to brainbashers.com, this image appeared in a 1915 edition of the puck.
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how to fly the automation dragon to your dream practice

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the 11-step plan to winning the war against accounting “bots.” 

by hitendra patil
accountaneur

like a snowball rolling down a hill, the fear that automation and artificial intelligence will replace accountants with robots is rapidly gaining mass and momentum in the accounting profession.

more on entrepreneurial strategy:  3 reasons small firms stay small  | how job titles can rebrand your firm | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars | you don’t think technology helps get new clients? | tax season management: multi-tasking is a myth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but accounting is one profession that has always adapted to technological and regulatory evolution over a long period. i am sure accountants will ride the new, so-called fire-spitting-jobs-guzzling automation dragon within no time.

but first, let’s think about the underground shift that will happen because of the automation in accounting. why will automation mean more business for accountants?

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lessons for accountants from self-driving cars

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//m.g005e.com/2017/02/20/seven-lessons-accountants-self-driving-cars/how to make the leap from sci-fi fantasy to business reality in six steps.

by hitendra patil
the definitive success guide to client accounting services

the uberization of accounting has already begun, and disruption is creating a “no-choice future” for some firms.

more:  rotten tomatoes: what do your clients really think of you?  |  targeting the top 50 highest-paid client categories  |  survey results: decide to be decisive  |   the curious case of ‘the irreplaceable accountant’  | the three gears that drive success in the accounting business  |  brexit worries?  worry more about cexits, texits and pexits  |  linkedin launches accountant-for-hire service  |  4 pillars of future firm foundation  |  ‘uberizing’ means more than technology  |  you don’t think technology helps get new clients?  |  do you want a practice … or a business?  |  ‘decisiveness’ rated top trait for   success in accounting business  |  tax season management: multi-tasking is a myth  |  3 apps to automate business networking  |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

self-driving cars are meant to enrich human life. and therein are the hints of the future of the accounting profession. here’s how… read more →

the curious case of ‘the irreplaceable accountant’

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frustrated businessmanthe real reason clients change accountants.

by hitendra patil
accountaneur

why do people change their accountants? a google search lists a ton of reasons: not approachable. not available. not enough business understanding. not responsive. not tech-savvy. not predictable in changing fees. and some more…

more accountaneur:  the three gears that drive success in the accounting business  |  brexit worries?  worry more about cexits, texits and pexits  |  linkedin launches accountant-for-hire service  |  4 pillars of future firm foundation  |  ‘uberizing’ means more than technology  |  you don’t think technology helps get new clients?  |  do you want a practice … or a business?  |  ‘decisiveness’ rated top trait for   success in accounting business  |  tax season management: multi-tasking is a myth  |  3 apps to automate business networking  |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

is technological advancement adding one more reason hardly anyone wants to ever talk about? perhaps we should add to the list “accountant not required.” to me, that sounds like an outrageous inference to draw. but several accountants tell me that they lose clients regularly. they tell me they got “replaced.” technology could be part of the problem. but it’s not necessarily the solution.

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brexit worries?  worry more about cexits, texits and pexits

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brexitbrexit is the least of your potential problems. here are three real issues to worry about.

by hitendra patil
accountaneur: the entrepreneurial accountant

the world just changed overnight.

and there are always two distinct ways the human mind works.

  1. react: what just happened? google searches for “what is the eu?” spiked!
  2. respond: as is the human wont, the most debated question of the moment is “what next?”
  3. google searches for ”how to emigrate” spiked too!

will brexit become precedence, with far-fetched unimaginable consequences? but, most importantly, how will it affect u.s. accountants?

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linkedin launches accountant-for-hire service

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linkin profinder listing
linkin profinder listing

new buying service promises accountants projects and ongoing assignments.

by hitendra patil
pransform

the shared economy, contingent workforce, millennials’ preference for work-life balance, the cloud, artificial intelligence, big data. everything is converging to disrupt traditional business models of many industries and professions.

and accounting is not immune to disruption. on the contrary, accounting is ripe for disruption. note carefully. it is all only “disruptive.” not “destructive.”

riding the new reality, the undisputed leader of business social media – linkedin – is now leveraging its platform to help shared economy workers get new clients.

meet profinder: accountant’s new opportunity  (and a new threat?)

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3 apps to automate business networking

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high quality 3d render of a robot hand touching a human hand, representing the relationship between human and artificial intelligence. dramatic orange overcast sky.

new technologies harvest social media data, suggest how to write the perfect follow-up email, and schedule appointments.

by hitendra patil

have you found yourself attending a networking meeting and spending most of the time with just one or two persons you already know? you are not alone! it’s challenging to get the communication started and going. it is an even more daunting task to make killer impressions and walk out with connections that will help you and your business.

more on the entrepreneurial accountant:  the 5 most common marketing blunders accountants make |  linkedin adds messaging. finally!  |   re-learning the lingo of the accounting business  |  how the “1099 economy” will transform accounting  |  what cpa firms could learn from google’s alphabet  |  summer reading list: five great books for the five lives of a busy accountant  |  four signs the uberization of accounting has already begun  |  management guru chester elton on success  |  savvy cpas focus on the constants  |  more

but that’s where new technology comes into the picture. you don’t have to the best-dressed person in the room, nor the smoothest talking or most knowledgeable. you just need to have the best appetite! let me explain, rather, reveal, some powerful information that can totally transform how you network. from thousands of apps and websites that i have personally tested, here are three that could make you a networking hero.

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the 8 traits creating the firm of the future today

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future informationa cpa firm in san francisco hires programmers! do you?

by hitendra patil
pransform

several discussions across multiple thought leadership groups, industry experts and advisors have boiled down to the crux of the question for the future, i.e.: what is needed by cpa firms to become sustainably successful? what are these traits “the firm of the future” must have? i think there are eight:

1.     redefine profitability

when partners and talented accountants perform routine tasks such as scanning documents and data input, the leverage on intellectual capital reduces. that impacts profitability. and the well-settled definitions of profitability are getting unsettled by technology, new generation thinking and sea change in regulations. efficiency gave you optimal returns in your time. it won’t in the future. your profits will be driven by the effectiveness of your combined intellectual capital (knowledge, wisdom) and your infrastructure (systems, software, communication channels). you will create measurable value for your clients and this value will drive your profits. it is all hinting to a complete overhaul of your pricing strategies, ground up.

trait needed: effectively priced intellectual capital on demand read more →