The use of artificial intelligence (AI) is becoming increasingly common in CPA firms, with even small practices now incorporating powerful AI solutions into their technology stacks. The rise of generative AI has made it more accessible to a wider range of firms, accelerating this trend. Today, the focus is on how much AI is utilized, what it is used for, and how effectively it is applied.
The 2024 Best Firms for Technology have taken a balanced approach to AI, avoiding both the hype and skepticism that often surrounds new technologies. 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 strategic approach to AI implementation.
However, AI is just one piece of the puzzle when it comes to technological advancement in CPA firms. The 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.