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How can APIs help modernize accounting firm technology

ThomsonReuters

Technology has helped tax and accounting firms to streamline their processes and automate countless time-consuming manual tasks. Firms regularly bring on new tools to address a specific business need. Many accounting firms are creating connections between new solutions and legacy systems with APIs.

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How accounting firms are innovating in 2024

ThomsonReuters

Jump to: 2024 top priorities Key Insights from the 2024 State of Tax Professionals Report Preparing your firm for the future In the ever-evolving landscape of tax and accounting, professionals are continually adapting to new challenges and opportunities.

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How do different accounting firms use AI?

ThomsonReuters

Jump to: How many accounting firms use AI? How do smaller accounting firms use AI? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. How many accounting firms use AI? How does AI impact workflow?

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How predictive modeling can help accounting firms

ThomsonReuters

Application of predictive analytics in accounting : Firms use predictive analytics for cash flow estimates, tax impact forecasts, fraud detection, strategic decisions, and more. For many, the answer lies in accounting predictive modeling. Patented, AI-powered technology auto-verifies OCR data for 65% of standard documents.

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How accounting firms can fill talent gaps with technology

ThomsonReuters

With The Great Resignation accelerating staffing challenges for accounting firms of all sizes, it might be time to look for a non-traditional new hire: technology. Many firms have historically employed dedicated staff to manage specific manual tasks and processes. Cloud technology. Remote collaboration tools.

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Are accounting firms keeping remote work positions?

ThomsonReuters

Many of today’s accounting professionals have a new perspective on when and how they want to work. Are firms heeding the call? The onset of the COVID-19 pandemic forced countless businesses, including accounting firms, to go remote essentially overnight due to mandated shutdowns and stay-at-home orders.

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Value-based versus fixed-fee pricing for accounting firms

ThomsonReuters

Historically, accounting firms have operated under a transactional billing model, providing once-a-year services primarily focused on tax compliance and reporting. With value-based pricing, you are compensated for your knowledge and use of modern technology rather than giving away advice for free. What is fixed-fee pricing?