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by donny shimamoto, cpa, citp, cgma
the center for accounting transformation
in today’s rapidly evolving world, technology is revolutionizing the way we work and live. accountants and cpas are no exception.
more donny shimamoto: how trusted advisors transform businesses | the future of accounting: a vision of trust, clarity, and hope | donny shimamoto: future firm growth requires a mindshift | 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?
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we need to embrace the power of technology to enhance our services and better serve our clients as advisors. by leveraging technology and focusing on the complicated work that bots can’t do, accountants become trusted advisors, building deeper relationships and unlocking their full potential.
the right tech stack: the foundation of effective advisory
a strong tech stack is essential for accountants looking to offer exceptional advisory services. by integrating powerful software and platforms, they can access vast amounts of data to create business intelligence, paving the way for deeper, more meaningful conversations with clients.
take the avalara platform, for example. accountants can import a client’s product information in just a few minutes, generating a comprehensive list of tax code options. clients can’t always access this information themselves, and they need guidance on interpreting and utilizing it. this is where accountants, equipped with the right technology, can step in and offer invaluable support.
bots: elevating accountants to new heights
bots and automation are changing the game for financial professionals. by taking care of mundane tasks such as data entry, accountants can focus on more complex, high-value services like mergers and acquisitions or tax strategy and planning. the result? a dynamic shift in the accountant-client relationship.
the story of susan: harnessing technology to become a trusted advisor
susan, an experienced cpa, recognized the potential of technology to elevate her services. she adopted a powerful tech stack, integrating tools that would provide advanced data analytics. as a result, she was able to provide her clients with actionable insights and tailored advice, positioning herself as a trusted advisor.one of susan’s clients, a small business owner, was struggling to stabilize cash flow. susan utilized her tech stack to analyze his financial data and benchmark his key performance indicators against peers in his industry, generating reports that were easy to understand. she then guided him through areas of opportunity in his business where changes needed to be made, helping him understand the options and develop an effective business strategy.
this is just one example of how technology can empower accountants to provide exceptional advisory services. by understanding and embracing the tools at their disposal, they can tap into their full potential and become indispensable to their clients.
the role of technology in advisory services is profound and transformative. by adopting the right tech stack and leveraging automation, accountants can focus on the complex, high-value tasks that set them apart as trusted advisors. the result is a new era of accounting, one marked by deeper client relationships and the ability to provide truly exceptional service. the time to embrace the power of technology is now – the future of accounting depends on it.