{"id":133407,"date":"2024-11-12t12:00:01","date_gmt":"2024-11-12t17:00:01","guid":{"rendered":"\/\/www.g005e.com\/?p=133407"},"modified":"2024-11-16t15:53:12","modified_gmt":"2024-11-16t20:53:12","slug":"tech-anxiety-paralyzing-some-accounting-firms","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/11\/12\/tech-anxiety-paralyzing-some-accounting-firms\/","title":{"rendered":"tech anxiety paralyzing some accounting firms"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-41900\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048.jpg\" alt=\"abstract illustration of binary data flow\" width=\"1600\" height=\"1200\" srcset=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048.jpg 1600w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048.jpg 300w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048.jpg 600w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048-290x218.jpg 290w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048-590x443.jpg 590w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/07\/greenbinarywormhole_dollarphotoclub_74703048-190x143.jpg 190w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/strong><\/p>\n<p><strong>ai? inescapable. but don\u2019t forget cybersecurity.<\/strong><\/p>\n<p><em>by roman kepczyk<\/em><br \/>\n<em><a href=\"\/\/www.g005e.com\/shop\/map-survey\/\">the rosenberg national survey of cpa firm statistics<\/a><\/em><\/p>\n<p>wild ride: as i am primarily focused on accounting firm technology and departmental production, i will limit my observations to it, where the big trend will be that we will continue to see a profusion of new ai-assisted applications coming at firms from all directions, at an increasingly untenable pace. i think that the reality of the mantra stating, \u201cyou won\u2019t be replaced by ai, but by someone using ai\u201d will sink into every accountant\u2019s brain in 2025 and the urge to jump to solutions will be overpowering<\/p>\n<p style=\"padding-left: 40px;\"><em>editor\u2019s note: every year, <a href=\"\/\/www.g005e.com\/shop\/map-survey\/\">the 2024 rosenberg national survey of cpa firm statistics<\/a> asks the profession\u2019s top consultants two sets of questions:<\/em><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><em>how do you think the next 12 months will unfold? trends? predictions? other thoughts?<\/em><\/li>\n<li><em>how would you assess the last 12 months? trends? observations? struggles?<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4 style=\"padding-left: 40px;\"><strong>more: <\/strong><a href=\"\/\/www.g005e.com\/2024\/11\/11\/whats-going-to-happen-lots-say-consultants\/\">what\u2019s going to happen? lots, say consultants<\/a> | <a href=\"\/\/www.g005e.com\/2024\/11\/06\/growth-and-complacency-must-concern-accounting-firms-this-year\/\">growth and complacency must concern accounting firms this year<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/29\/solving-staffing-requires-intention\/\">solving staffing requires intention<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/27\/how-accounting-firms-are-handling-the-staff-shortage\/\">how accounting firms are handling the staff shortage<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/23\/the-future-of-fees\/\">the future of fees<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/22\/private-equity-continues-to-impact-accounting-profession\/\">as private equity closes in, firms seek new answers to staffing problems<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/20\/when-staffing-falls-short-clients-get-culled\/\">when staffing falls short, clients get culled<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/17\/how-accounting-firms-are-dealing-with-retirement\/\">how accounting firms are dealing with retirement<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/15\/next-five-years-are-critical-for-accounting-firms\/\">next five years are critical for accounting firms<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/13\/turnovers-down-but-why\/\">staffing turnover\u2019s down, but why?<\/a> | <a href=\"\/\/www.g005e.com\/2024\/10\/09\/whats-your-firm-worth-private-equity-wants-to-know\/\">what\u2019s your firm worth? private equity wants to know<\/a><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-49700 size-full\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2024\/11\/12\/tech-anxiety-paralyzing-some-accounting-firms\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener\">2022世界杯足球排名 today<\/a>.<\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>like the dotcom boom of the early 2000s, i\u2019m already seeing firms display a significant amount of anxiety around making application decisions and paralysis around concerns about integrating tools that could shortly be replaced by another, better product. my advice is to research peer success, pilot small and learn fast (or at least fail fast and move on).<br \/>\n<!--more--><br \/>\nthe wild card in this ai environment will be whether the \u201cbig 3\u201d accounting vendors swoop up these ai startups to maintain dominance or allow a new conglomerate of ai companies to partner together to earn a seat at the table for either a comprehensive tax or assurance solution (i think the latter).<\/p>\n<p>for a single technology prediction, i think firms should continue to be hypervigilant on cybersecurity. according to the identity theft resource center, at least 15 cpa firms announced publicly that they had been breached through june 30, 2024, and i believe that number is woefully unreported based on discussions with (and surveys of) accounting firm peers. i would expect a continued increase in the number of firms being breached in the second half of 2024, and then that number being eclipsed in 2025. firms will continue to move to professionally managed security providers to get peace of mind (and because the professional liability and cyberinsurance providers will probably make them do it).<\/p>\n<p>nailed it! last year, our 2024 top trend prediction targeted ai evolution into \u201capplications that accountants use\u201d happening at an astonishing rate. with microsoft\u2019s launch of copilot for 365 (outlook, teams, excel, word, etc.) in january 2024, that prediction started building the ai wave for accountants this year. this was followed over the summer by a constant stream of announcements from each of the major accounting vendors that they had integrated generative ai solutions into their products (thomson reuters and wolterskluwer\/cch announcing \u201cai-assisted\u201d research and intuit announcing ai assist). the surprise for me was in the number of startups that were shaking up the game such as black ore, taxgpt, bluej, etc. and the rapid rollout of \u201cprivate\u201d generative ai solutions from pwc, bdo, and even rightworks with spark (<a href=\"https:\/\/ai.rightworks.com\/\" target=\"_blank\" rel=\"noopener\">ai.rightworks.com<\/a>) providing custom chatgpt solutions for accountants.<\/p>\n<p>in addition to the ai trend, our top \u201ctechnology\u201d prediction was the importance of firm leadership upping their firm\u2019s cybersecurity game, which was boosted by the ftc requirement for all tax firms to have a wisp (written information security plan). we saw \u201ccyberawareness\u201d of firms advancing overall by the continuous migration of firms to the cloud, the adoption of security awareness training and the increase in firms partnering with \u201centerprise-level\u201d managed security providers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>ai? inescapable. but don\u2019t forget cybersecurity.<\/strong><br \/>\n<a href=\"\/\/www.g005e.com\/2024\/11\/12\/tech-anxiety-paralyzing-some-accounting-firms\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-114012\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/07\/250_greenbinarywormhole_dollarphotoclub_74703048.jpg\" alt=\"\" width=\"250\" height=\"125\" \/><\/a><br \/>\n<em>by roman kepczyk<\/em><br \/>\n<em><a href=\"\/\/www.g005e.com\/shop\/map-survey\/\">the rosenberg national survey of cpa firm statistics<\/a><\/em><\/p>\n","protected":false},"author":1342,"featured_media":41900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[5,3002],"tags":[],"class_list":["post-133407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-outlook","category-special"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>tech anxiety paralyzing some accounting firms - 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