AI technology is increasingly becoming a common tool in the tech stacks of CPA firms, with even the smallest practices now utilizing powerful solutions. The rise of generative AI has made it more accessible to a wider range of firms, and today the focus is on how much AI is utilized, what it is used for, and how effectively it is applied.
In this year’s Best Firms for Technology, there is a clear emphasis on using AI strategically rather than simply applying it across the board. These practices have honed in on specific applications that serve their unique needs, with technology serving the firm rather than dictating its operations. Whether for client communications or financial statement drafting, these firms have taken a balanced approach to AI, avoiding both the hype and skepticism that often surrounds new technologies.
However, AI is just one piece of the puzzle when it comes to technological advancement in CPA firms. This year’s Best Firms have also made strides in integrating various solutions to enhance automation and streamline workflows. Many have bolstered their cybersecurity protocols in response to increasing cyber threats, while also focusing on upgrading client management systems to enhance service delivery. These firms take a holistic view of the technology landscape, applying the right solutions in the right places.
As we welcome the 2024 cohort of Accounting Today’s Best Firms for Technology, it is evident that AI is a key component of firms’ technology infrastructure. However, firms are also exploring other avenues for technological advancement, recognizing that a comprehensive approach is essential for staying ahead in the rapidly evolving landscape of accounting technology. (The full report, including profiles of the individual firms, is available on AccountingToday.com.)