august2022 - 27

FEATURE
4
By Justin Hatch
IF YOU'RE A CPA, chances are you've formed an opinion on financial automation. With
technology rapidly evolving across a wide range of sectors, today's financial professionals
are bound to encounter incredible new innovations that will revolutionize their industry.
For example, in 2019, the global robotics process automation in finance market was
valued at approximately USD 1.10 billion, with an anticipated growth rate of more than
33.6 percent over the following seven years.
Although these statistics appear
encouraging for the future of efficient,
easy accounting, some accountants
hesitate to embrace automation
because they believe it could
negatively affect their future careers.
However, the truth is that automation
can actually enable CPAs to become
more effective, efficient, and valuable
than ever before. Read on to learn
how automation provides CPAs with
increased time savings, accuracy, clientele
growth, and work-life balance.
TIME SAVINGS
The most obvious benefit of automation
for financial professionals is
saving time-lots of it. According to
Gartner.com, financial automation
can save finance departments 25,000
hours of avoidable work annually.
For individual CPAs, these time savings
can add up to several hours of
work per day.
While having much more free
time in your workload is certainly
desirable, the real value in saving all
of that time lies in the opportunity
savings-after all, time is money.
With every hour you save through
automation, you will be free to pursue
other opportunities for generating revenue,
learning new skills, or whatever
else you desire. In addition, providing
clients with financial information in
a fraction of the time it used to take
will increase their confidence in your
skills and abilities, providing a great
advantage for your customer retention
and acquisition.
HIGHER ACCURACY
Unfortunately for CPAs, human
error can be a common and costly

http://www.Gartner.com http://www.CPAPracticeAdvisor.com

august2022

Table of Contents for the Digital Edition of august2022

From the Editor: Take Me Out to the Ball Game
Is Artificial Intelligence Becoming a Tool for Financial Advisors?
From the Trenches: Your Firm and Your Strategy
The Evolution of Nexus and its Implication of Income Tax
Innovation Awards: 2022 Innovation Awards Spotlight Top Tech for Tax and Accounting Pros
The Labor Law Advisor: The Employee Attendance Dilemma
The ProAdvisor Spotlight: Mailchimp + QuickBooks Online Helps the W2 Group Manage Marketing and Sales
Tips to Help Your Small Business Clients Thrive During High Inflation
The Staffing & HR Advisor: 5 Interview Questions to Avoid
The Leadership Advisor: Making a Remote Workplace Culture Work
The Millennial Advisor: Are You Recruiting Like it's 1989?
Teamwork Makes the CAAS Dream Work
4 Ways CPAs Can Benefit from Automation
How to Maximize Client Data to Build a Better Firm
Developing a Data Mindset to Proactively Make Clients' Lives Better
Marketing Your Firm: Amplify Your LinkedIn Profile for Free With its Creator Feature
How to Set Business-Driving Goals with Your Clients
AICPA News: A round up of recent association news and events.
Bridging the Gap: Process Issues with People Impacts
august2022 - 1
august2022 - 2
august2022 - 3
august2022 - From the Editor: Take Me Out to the Ball Game
august2022 - Is Artificial Intelligence Becoming a Tool for Financial Advisors?
august2022 - From the Trenches: Your Firm and Your Strategy
august2022 - 7
august2022 - The Evolution of Nexus and its Implication of Income Tax
august2022 - Innovation Awards: 2022 Innovation Awards Spotlight Top Tech for Tax and Accounting Pros
august2022 - 10
august2022 - 11
august2022 - 12
august2022 - 13
august2022 - 14
august2022 - 15
august2022 - 16
august2022 - 17
august2022 - The Labor Law Advisor: The Employee Attendance Dilemma
august2022 - The ProAdvisor Spotlight: Mailchimp + QuickBooks Online Helps the W2 Group Manage Marketing and Sales
august2022 - Tips to Help Your Small Business Clients Thrive During High Inflation
august2022 - The Staffing & HR Advisor: 5 Interview Questions to Avoid
august2022 - The Leadership Advisor: Making a Remote Workplace Culture Work
august2022 - The Millennial Advisor: Are You Recruiting Like it's 1989?
august2022 - 24
august2022 - 25
august2022 - Teamwork Makes the CAAS Dream Work
august2022 - 4 Ways CPAs Can Benefit from Automation
august2022 - How to Maximize Client Data to Build a Better Firm
august2022 - 29
august2022 - Developing a Data Mindset to Proactively Make Clients' Lives Better
august2022 - 31
august2022 - Marketing Your Firm: Amplify Your LinkedIn Profile for Free With its Creator Feature
august2022 - How to Set Business-Driving Goals with Your Clients
august2022 - AICPA News: A round up of recent association news and events.
august2022 - Bridging the Gap: Process Issues with People Impacts
august2022 - 36
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