What's Next For Accounting? - Issue #78

Author

Jason Staats
April 14, 2023

🧠 Your Practice Management System on AI

This week I shared a rundown of 16 ways AI will make your practice mgmt system better YT | Pod | Developer-friendly version

Here are my top 5:

  1. Better Search - A single search experience across organizational email, team chat, meeting transcripts, projects, file contents + workpapers. This can even be extended into third-party app data, like client accounting ledgers.

  2. Generative Email Replies - Suggested replies that take into account that a colleague emailed the client yesterday. That you're generally snarky with this client. That they have a project that is near completion. That their engagement letter stipulated certain expectations of the client. The details they provided in a Zoom meeting last week. Made even better with suggested file attachments: "Can you send me my 2020 return?"

  3. Document Generation - You're replying to that email requesting a banker letter, and you have 200 other such banker letters in your file system. Using a few of the letters most relevant to this request, generate a letter I can use as a starting point to send to the banker.

  4. Smart Requests - Creating a new client-request? Whoa tiger, looks like according to this transcript, the client mentioned this matter in a meeting with your colleague Tina yesterday. Or just emailed the info to Greg 20 minutes ago. Even resolve outstanding requests when the system receives new context: Given this new Zoom meeting transcript, it looks like I can resolve requests 2, 3 and 4. Does that sound right?

  5. Agents - The hottest hotness of the last 10 days, AI agents that will work on a given task until the end of time. Some examples. In practice they're super broken & limited still, but look for this space to grow quickly. Longer-term, this looks like assigning a task to an agent user, and it going out to complete the task. Sounds far-fetched, I know! But it got a lot closer this week.

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My community Realize is a private space for people to swap ideas & collaborate. At $180/mo it’s also the way I finance everything else I do, pay a full-time creative director, and a part-time developer in an effort to make the accounting industry a slightly better place 💗 The community is currently about 300 members strong.