Expense management and software-enabled corporate card will support CPA firms in delivering next-level client advisory services (CAS)

SAN JOSE, Calif. – March 8, 2022 – Bill.com (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced today that Divvy, a Bill.com company, has been named CPA.com’s new exclusive partner for expense management, corporate cards*, and spend management. This move expands the partnership between CPA.com and Bill.com, CPA.com’s exclusive partner for bill management since 2008, and replaces the previous expense management solution with a new offering that will unite all bill payments, expense management and card spending in one comprehensive solution. A key strategy in supporting CPA.com’s updated client advisory services (CAS) 2.0 framework, firms can now have the technology tools to provide more strategic counsel for clients.

"We're excited to build on our partnership with CPA.com, as we continue to deliver on our vision of an all-in-one financial operations solution for customers,” said René Lacerte, CEO and Founder at Bill.com. “The powerful combination of Divvy and Bill.com provides businesses with the ability to see 100% of their B2B spend, giving accounting firms a tremendous advantage to level up their advisory services and provide more value to their clients."

According to CPA.com’s recent CAS Benchmark Survey, CAS is the fastest growing practice area for accounting firms. To help firms keep pace with demand and realize the full potential of CAS, CPA.com recently introduced CAS 2.0 for business transformation and change management, providing firms with a more holistic vision and approach to drive firmwide adoption of CAS.

“As CAS continues to grow, becoming a more critical part of firms’ offerings, they need a comprehensive technology solution that provides their clients greater access to business credit, increased control over spending and a real-time view of their finances,” said Erik Asgeirsson, President and CEO of CPA.com, the technology business subsidiary of the American Institute of CPAs (AICPA). “Bill.com’s Divvy Accountant Advisor Program, in partnership with CPA.com, empowers accounting firms with an integrated software solution and corporate card for their CAS clients, allowing them to deliver higher-value advisory services.”

Divvy provides an all-in-one expense management platform that pairs corporate cards with Divvy’s automated software to more effectively manage credit card spending, expenses, and budgets. For accounting firms looking to deliver on next-generation advisory services, this provides a key differentiator and strategic advantage.

The Divvy Accountant Advisor Program, in partnership with CPA.com, provides accounting firms and their clients the ability to:

• Automate previously manual, time-consuming tasks, such as expense reports
• Have real-time visibility and insight into business spend
• Control budgets and spending activity in real-time from a mobile phone
• Manage Divvy corporate cards with simple, easy-to-use, integrated software

Benefits to firms include:

• Easy access and real-time visibility into client spend and expenses
• Exclusive promotions and rewards for firms and their clients
• Tailored training and content to support firms’ success with the new solution and capabilities
• Dedicated partner support and resource hub complete with templates and materials to enable client success
• Co-marketing and promotional opportunities including customer success stories and more

Client benefits include:

• Free, award-winning spend and expense management software
• Exclusive Divvy and Bill.com offers and incentives

“Divvy puts the power in the business owner’s hands when it comes to managing spend. Especially after the last two years where cash flow was so critical and a remote workforce added layers of complexity, businesses need tools that make it easier for them to operate at their best. Divvy’s spend management solution starts with putting the right controls on budget and expenses in place and makes it simple to onboard new employees without losing that control. And with the partnership and support that Bill.com and Divvy have always delivered, this is truly a best-in-class solution.” — Nick Pasquarosa, Founder & CEO, Bookkeeper360

Read more about this partnership here. To learn more about how CAS practices can benefit from this program, join CPA.com, Divvy and a firm practitioner, on a free-CPE live webinar on March 30th. To learn more about the Divvy Accountant Advisor Program, click here.

About Bill.com
Bill.com is a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. Customers use the Bill.com platform to manage end-to-end financial workflows and to process payments. The Bill.com AI-enabled, financial software platform creates connections between businesses and their suppliers and clients. It helps manage cash inflows and outflows. The company partners with 6 out of 10 of the largest U.S. financial institutions and 85 of the top 100 U.S. accounting firms, and popular accounting software providers. Bill.com is headquartered in San Jose, CA. For more information visit www.bill.com.

About CPA.com
CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the U.S., with a growing global focus. CPA.com is a subsidiary of the American Institute of CPAs (AICPA) and part of the Association of International Certified Professional Accountants (AICPA & CIMA), the most influential body of accounting and financial professionals worldwide. Learn more about CAS 2.0.

*Card issued by Cross River Bank, Member FDIC

Program from the AICPA and CPA.com expands to include a second cohort focused on ESG solutions

NEW YORK (Feb. 24 2022) – Ten early-stage companies pursuing a variety of solutions in audit, AI, risk reporting, education, and environmental, social and governance (ESG) issues, have been selected to participate in the 2022 Startup Accelerator, sponsored by the American Institute of CPAs (AICPA) and CPA.com. The annual program, now in its fifth year, expanded to include an ESG specific cohort for 2022.

The Startup Accelerator supports the growth of early-stage technology companies throughout the accounting and finance ecosystem. It also provides the AICPA and CPA.com more visibility into disruptive trends from emerging technologies that are transforming the accounting profession. Selected companies receive a $25,000 grant, participate in a six-month curriculum, receive guidance from expert advisors, and have an opportunity to showcase their solutions at AICPA ENGAGE, the profession’s largest conference.

“We created this program five years ago as a way to identify emerging trends and drive innovation within the accounting profession,” said Erik Asgeirsson, president and CEO of CPA.com. “The Accelerator has been a great success, supporting leading-edge companies to help drive the transformation of accounting services in key areas such as blockchain, assurance, ESG and automation.”

The 2022 cohort is comprised of the following technology solutions:

• AuditMiner – The Omaha-based company’s solution leverages automation to streamline and standardize audit workpapers and templates, increasing the quality and consistency of Employee Benefit Plan (EBP) audits across a CPA firm.
• Once Accounting – (formerly BaCo Tech) - Managing clients’ records across multiple platforms can be challenging. Dallas-based Once Accounting is a client integration platform that seamlessly incorporates records into a firm’s tax or accounting solution
• Fieldguide – Based in San Francisco, Fieldguide is an automation and collaboration platform that streamlines the end-to-end engagement workflow for modern risk assurance and advisory firms.
• LumiQ – The Canadian-based company offers a native podcast app where engaging conversations with business leaders count as verified CPE or CPD credits. CPAs and accountants can earn credits on their commute, at the gym or walking their dog.
• Knuula – Client Engagement Letters can be time-consuming and difficult to customize. Knuula, based in Frisco, Texas, streamlines the process by enabling firms to easily customize, distribute and manage client engagement letters.
• Caesar Sustainability – The remote-based company offers a comprehensive data collection and management platform to centralize workflows and data storage for ESG reporting
• ESG Trust – The San Francisco-based company’s integrated data management solution identifies ESG risks opportunities, measures standards, and maps stakeholders to the value chain, streamlining ESG information gathering and collaboration.
• GoodLab – Based in San Francisco, the company’s ESG performance management and compliance software enables organizations to transform their ESG data reporting engine to deliver actionable insights and data to management, investors and customers.
• Sustain Life – The company’s SaaS platform helps companies across industries reduce their environmental impact by providing ESG tools that enable the measurement and management of their carbon emissions.
• Standard Carbon – Carbon is the newest asset class in ESG reporting but has yet to be recognized on the balance sheet. Standard Carbon, based in Winnipeg, Canada, aims to change that by leveraging AI to deliver transparent, carbon offset assurance statements.

“The Startup Accelerator has always been about identifying emerging trends and ESG is a tremendous opportunity for the accounting profession,” said Barry Melancon, CPA, CGMA, president and CEO of the Association of International Certified Professional Accountants. “The expansion of this year’s program to include a second cohort focused on ESG is reflective of the growing opportunity for CPAs and firms to elevate their role as trusted advisors, as well as the Association’s commitment to the space.”

For more information about the startup accelerator, please visit cpa.com/accelerator

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus. Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.

About the American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 431,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, and federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.

Asgeirsson Says Technological Adoption is Spurring Demand for Firm Advisory Services

NASHVILLE (Dec. 8, 2021) – Advances in technology, the pandemic-related shift to a fully digital workplace and rapidly evolving business models are creating huge opportunities for CPA firms – provided they take the necessary steps to stay ahead of the curve, said Erik Asgeirsson, president and CEO of CPA.com.

The accounting profession proved its worth over the past two years, strengthening its bonds with small business owners and playing a crucial role in delivering business relief, Asgeirsson said during his keynote presentation at the Digital CPA Conference, which concludes today. That credibility is helping to fuel what was an already growing opportunity in advisory services, although firms face challenges from non-CPA external providers making use of disruptive technology.

Asgeirsson discussed several trends from the past year, including:

Growth Opportunities in Client Advisory Services (CAS). Research from CPA.com shows a heightened demand for CAS services, with a 20% median growth rate in net client fees that outpaces traditional practice areas. New capabilities in such areas as financial planning & analysis, business intelligence and other key areas suggest there’s more room to define and expand the category and build client value. CPA.com plans to offer new tools and learning opportunities in the coming year to help firms make that leap.

“The challenge is how to elevate, enhance and evolve CAS to bring the next level of service, what we’re calling CAS 2.0,” Asgeirsson said. “No firm has fully optimized the service line yet.”

Fintech Comes of Age. Some 81 percent of consumers now use fintech and the industry amply proved its value to business over the past 20 months, with digital lenders leading the way on the Small Business Administration’s Paycheck Protection Program (PPP) and other relief programs. The components of this category are maturing and expanding, from online lending and regulatory technology to increased uptake of online payments, Asgeirsson said.

CPA.com and leading fintech Biz2Credit last year developed the CPA Business Funding Portal, which served as a platform for CPA firms to effectively manage business relief for their clients. The portal is now adding term-loan options for CPA firms’ clients, a recognition that business funding advisory services will become increasingly important going forward.

Rohit Arora, co-founder and CEO of Biz2Credit, joined Asgeirsson on stage and likened small business clients’ changed perceptions about the fintech industry to the 1969 moon landing. “The Eagle has landed,” he said. “The future is here now. The customer is totally ready to be digital.”

Client Relationships Drive Value. Maximizing value to clients often comes down to a firm’s structure and strategy, Asgeirsson said. Forward-looking firms don’t just update their technology, they examine their business model and client base to make sure they’re aligned with top performance. Firms can embark on that strategic review now to make sure that necessary changes are in place before busy season.

The Importance of Investing at the Edge – CPA.com and AICPA & CIMA continue to take a leading role in moving the profession forward on innovation, Asgeirsson said. One example is the development of the Dynamic Audit Solution, which will transform audit methodology and give rise to the modern, data-driven audit. Others include the organizations’ annual blockchain symposium, the startup accelerator program for accounting technology, regulatory tech and ESG-related early-stage companies, and the .cpa web domain now rolling out internationally.

“We’re well prepared,” Asgeirsson said of the outlook for the coming year. “I’m extremely optimistic about what we’ll achieve. Together, we’re going to lead.”

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.

Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.

Platform Expands Small Business Advisory Services Role for Firms

NEW YORK (Dec. 7, 2021) –The CPA Business Funding Portal, a cloud-based financing platform for accounting firms developed by CPA.com and leading fintech Biz2Credit, has added a business term loan option for CPA firms’ small business clients. Existing users of the portal can offer term loans to their clients immediately, while new subscribers can begin offering the service later this week.

The CPA Business Funding Portal has been a highly effective platform for CPAs and CPA firms assisting clients with government-backed business relief, such as funds distributed through the Small Business Administration’s Paycheck Protection Program (PPP). With a user-friendly dashboard and other streamlined loan management tools to ease the process, the portal has allowed users to process and obtain around 40,000 PPP loans, securing over $1 billion in business relief for their clients.

Adding the term loan financing option to the portal is a natural extension of capabilities for CPA firms, particularly as the recovery continues, and reflects the key role firms play in guiding critical business decisions for clients.

“CPA firms played a critical role in supporting small business owners throughout workplace shutdowns and the emerging recovery,” said Erik Asgeirsson, President and CEO of CPA.com. “As trusted advisors, they’re being asked to do more for their clients and need sophisticated tools to deliver these services efficiently and effectively. The evolution of the CPA Business Funding Portal reflects this expanding role, as well as the profession’s swift movement into business financing advisory services.”

Features of the portal’s expanded functionality include:

• Competitive financing terms, including a discount on the cost of financing for CPA clients, amounting to approximately 1.00-2.00% on the loan annual percentage rate (APR), depending on loan amount
• Quick turnaround on loan decisions thanks to the power of fintech
• Funding amounts ranging from $25,000 to $1 million
• Non-variable interest rates for loans secured through Biz2Credit
• An all-online application and closing process
• Option for firms to earn commissions on funded financing applications

“The ability to capitalize quickly on opportunities can be a huge difference maker for small and medium-sized businesses,” said Rohit Arora, co-founder and CEO of Biz2Credit and a leading expert on small business finance. “With our industry-leading business funding platform, the time between filling out an application and having the funds in hand can be as little as 72 hours. Now, thanks to the new features on the CPA Business Funding Portal, CPA firms can provide this excellent service speed to their small business clients.”

Tony Khait, CPA, PFS, the owner of Eco-Tax, Inc., a Brooklyn-based CPA firm, used the CPA Business Funding Portal over the past year to secure PPP funding and forgiveness for clients. He says he now plans to leverage the platform to support his clients’ business financing needs.

“No one knows my clients’ businesses better than my staff and me,” Khait said. “We’re looking at their financials every day. We know their short and long-term business goals. With the CPA Business Funding Portal, we can strengthen our connection as their trusted advisor by recommending the right term loan to meet their unique needs.”

A webcast on the new term loan option is available at 10 a.m. Eastern time this Thursday, Dec. 9. To learn more about the CPA Business Funding Portal, please visit cpa.com/business-funding.

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.

Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.

About Biz2Credit

Founded in 2007, Biz2Credit has arranged more than $7 billion in small business financing. Biz2Credit is focused on funding what’s next for small business. The company leverages data, cash flow insights, and the latest technology to give business owners an automated small business funding platform to fit their financial needs. With over 500 employees globally, the Biz2Credit team – made up of top-notch engineers, marketers, and data scientists – is building the next generation in business lending solutions.

Biz2Credit has been named to the Inc. 5000 and Inc. Magazine’s Private Titans list for 2020, is a three-time winner of the Deloitte Technology Fast 500 and was named a Great Place to Work in 2020 and 2019. Visit Biz2Credit.com to learn more about the company.

Zunie Nguyen of Yogi CPA and Julie Smith of Harper & Co. Share Recognition

NASHVILLE (Dec. 6, 2021) –  Zunie Nguyen, CPA, and Julie Smith have been named dual 2021 recipients of CPA.com’s Innovative Practitioner Award, which recognizes innovation in process, services and technology implementation. Both practitioners successfully used technology and forward-looking practice development strategies to drive advisory services and deliver business relief to clients.

Award winners are chosen primarily through a vote of their peers. Both recipients will be recognized onstage at Digital CPA, CPA.com’s annual conference for practitioners focused on technology and its impact on the accounting landscape. Here’s a closer look at the winning candidates and their achievements:

• Zunie Nguyen is founder and CEO of Yogi CPA, an Orange, Calif.-based firm focused on financial independence for high-income earners. Nguyen set up her practice to be totally paperless and offers consistent educational updates, including videos, social media posts and a monthly newsletter, to better inform clients. During the pandemic, her firm helped clients secure over $4 million in Paycheck Protection Program (PPP) loans and $1 million in Economic Injury Disaster Loans.
• Julie Smith, a practice manager for Harper & Co. in Columbus, Ohio, is a driving force behind efficiency, technology and revenue growth at the firm. In 2017, when the 12-person firm decided to embrace advisory services, Smith built out its tech stack to include robust practice management, document management and research tools. When the pandemic hit, the firm was able to conduct 72 PPP loan engagements while continuing to manage its robust tax work. In a testament to its efficiency, Harper & Co. has tripled its growth over the past four years without adding new staff.

“Zunie and Julie demonstrate not just innovation but agility in a time of unprecedented change, when CPA firms were under intense pressure,” said Kacee Johnson, CPA.com’s senior director of strategy and innovation. “It says great things about the profession when we see such a wave of creativity in firm’s business models, use of technology and value creation for clients.”

To read more about Nguyen, Smith and previous honorees, please visit the Innovative Practitioner Award page. To learn more about strategies for transforming your firm, please visit cpa.com.

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.

Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.