NEW YORK (Feb. 20, 2019) – OnPoint PCR, a smart, cloud-based solution that transforms how CPA firms conduct preparation, compilation and review engagements, has been named a 2019 Top New Product by Accounting Today, a leading trade publication for the profession.

OnPoint PCR, which launched last summer, was selected as a winner in the “attest tools” category. Jointly developed by CPA.com, the American Institute of CPAs and CaseWare International, OnPoint PCR integrates content and methodology into a leading cloud platform, allowing firms to enhance engagement quality while being more productive.

“The audit profession is on the brink of a major change,” Accounting Today’s editors wrote. “The American Institute of CPAs is anticipating and precipitating this sea change with the launch of an initiative to create a new audit process dubbed the Dynamic Audit Solution. OnPoint PCR, which it created in partnership with its technology arm, CPA.com, and CaseWare, is part of this movement toward a new kind of audit — and one that will benefit the thousands of smaller firms that may not perform public company audits but are still involved in attest work.”

In addition to being recognized as a top new product by Accounting Today, OnPoint PCR was a recipient of CPA Practice Advisor’s 2018 Tax & Accounting Technology Innovation Award last year. This is the second time a CPA.com-affiliated solution has won both awards. In 2016, RIVIO Clearinghouse, a secure online hub for private company financial information that was jointly developed by CPA.com and Confirmation.com, was a dual winner.

“Technology is transforming accounting and auditing to the point where we are beginning to see a convergence of the compliance and advisory functions—the blending of trust and insight. OnPoint PCR is a prime example of this convergence,” said Erik Asgeirsson, president and CEO of CPA.com. “Today, firms are struggling with properly setting the size and scope of engagements. OnPoint PCR combines technology and an innovative approach to solve this, while also providing detailed documentation for engagements.”

To learn more about OnPoint PCR, visit cpa.com/onpoint.

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.

Last month, I received a special invite to an executive roundtable in New York City hosted by the American Institute of CPAs. The AICPA’s event invited 41 technology companies that develop software for the accounting profession.

The roundtable had representation from well-known names Microsoft, QuickBooks, Bill.com and Thomson Reuters. There also was participation from up-and-comer Expensify, a paperless expense management firm, as well as other Silicon Valley technology companies.

Organizers also invited 10 certified public accountants from firms of all sizes. I received my invitation to represent the perspective of some 39,000 small firms across the United States. The objective of the roundtable is for each of the tech companies to present on current product developments and roadmaps for the future. The CPAs are invited to provide the tech companies their perspectives on the needs of the accounting profession.

The presentations of the tech companies made me enthusiastic about the work I do. There has never been a better time to be a CPA because of the work being done with technology.

In with the new
“AI is the new electricity.” That statement was made by Stanford professor and computer scientist Andrew Ng.

For the past many years, artificial intelligence has been presented as a concept that will transform our daily lives – including how we do business.

Ng was staking a claim that AI is no longer futurist, geek speak. Instead, it is real. It is here. And it already is a bare essential for our daily lives – such as electricity.

AI is the technology that makes self-driving vehicles a possibility. Self-driving vehicles are no longer futurist, geek speak either. The innovation is here. Now, it’s just a matter of governmental regulation catching up with the technology. So, while most of the world is still grappling with understanding the depths of AI in general, innovators of tech companies are moving on to the next big thing: voice-activated AI.

Voice assistants in business
Voice assistants are becoming common household items. Apple’s Siri, Amazon’s Alexa and Google Home are part of our daily lives.

“Hey Google, add milk to the grocery list.” Or, “Alexa, set my alarm for 6 a.m.” If these voice assistants can help us master our personal lives, why can’t they help us master our work lives? They can, and they’ve already started.

As a business owner or entrepreneur, can you imagine a day when you come into the office, sit down at your desk with no keyboard and have this type of conversation with your accounting system: “Hey QuickBooks, show me all the bills I need to pay this week.”

“OK QuickBooks, pay the rent and utilities with an ACH transfer on Friday.”

Of the 41 tech companies represented at the event, the overwhelming majority of the companies’ roadmaps for future products included a form of voice-activated AI. In fact, at the end of the event, there is an award presented for Most Compelling Presentation as voted on by the attendees. This year, it went to Chata.AI, a tech-company laser focused on integrating voice-activated AI into our accounting systems.

Why speech?
Am I the only one who is challenged by a constantly growing to-do list? Do you feel it’s a vicious cycle of whack-a-mole for you?

As quick as you mark through items at the top of the list, do twice as many items fill up the bottom of the list? In these days of constantly wearing our busy badges and crowded to-do lists, where is the life-preserver?

The roundtable event helped me understand that voice-activated AI could be that life-preserver for all of us in accounting. Why? A simple presentation slide from the event helped me gain this understanding. A person with average typing skills can type 39 words per minute, but can speak 130 words per minute. That’s 233 percent faster. Even a slow-talker like me can win a race against the fastest typing.

This should give us hope for gaining more productivity in our daily lives.

New horizons
Have you ever observed a child using voice-activated tech? For example, asking Siri to call a family member on FaceTime or play a song? Search it on YouTube for a laugh. And the next time you see this, pay attention to the pure joy on the child’s face when the tech does what it asks. It’s fascinating.

As a CPA, I am joyful about this technology; same as those children experimenting with the technology. I welcome it to the accounting profession with open arms. AI and VA-AI are not about job replacement for CPAs and accountants; it’s about embracing and leveraging the tech so we can provide greater service for our clients. It allows us to truly become a trusted business adviser.

3 Early-Stage Companies Selected by the Association of International Certified Professional Accountants and CPA.com

NEW YORK (Feb. 11, 2019) – Three early-stage financial technology companies have been selected as this year’s winners for a startup accelerator sponsored by the Association of International Certified Professional Accountants (the Association) and CPA.com.

The startup accelerator began almost two years ago with a focus on fintech and educational technology. It is designed to promote innovation in the accounting profession and give the Association and CPA.com more visibility into disruptive trends from emerging technologies. Finalists get a nominal funding investment and guidance from a panel of experts in the profession on marketplace needs.

“The value proposition for these companies is they get access to insights from senior leaders of the Association and CPA.com, as well as a panel of distinguished advisors with deep ties to the accounting profession,” said Lawson Carmichael, chief operating officer of the Association. “And for us, the program keeps us connected to front-line innovation.”

This year’s finalists are:

• Gappify – A San Francisco company that uses bot technology – dubbed ‘Alan’ – to automate time-consuming, repetitive tasks for corporate accounting teams in such areas as accounts receivable, accounts payable and general ledger.
• Client Hub – The Gainesville, Fla.-based startup provides a modern communications platform for accountants and clients through an all-in-one workspace and mobile app, eliminating the need for clunky email conversations and easing the delivery of critical data.
• Dryrun – A Canadian startup that simplifies forecasting of cash flow, one of the most critical pieces of information for small businesses.

Each finalist will be given the opportunity to present information about their company in June at AICPA ENGAGE, one of the leading events devoted to public accounting in the United States.

“Early-stage technology companies are driving great innovation and new capabilities for the CPA profession,” said Erik Asgeirsson, president and CEO of CPA.com, the technology subsidiary of the American Institute of CPAs. “We got great feedback from our first class of companies last year, and we expect to build on our progress with this current group of innovative startups.”

For more information about the startup accelerator, please visit aicpa-cima.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 Association of International Certified Professional Accountants

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 667,000 members and students across 184 counties and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.

There is no aspect of the accounting profession left untouched by technology, and no corner left unimproved; if there is any lesson to be drawn from the very wide range of tools our editors singled out as the Top New Products from the past 12 months, that is surely it.

From tools that create better methodologies for auditors to platforms that leverage the power of vast pools of data to help accountants offer insights to clients, and from solutions for soothing a client’s fears about an IRS notice to security tools you can carry in your wallet, this year’s picks reach into every part of the profession to make it more efficient, more valuable to clients, and more profitable for its members.

With that in mind, enjoy this year’s roster of the Top New Products!

Three winners have been named by a startup accelerator sponsored by the Association of International Certified Professional Accountants and CPA.com.

Winner Gappify is a San Francisco company that uses bot technology – “dubbed Alan” – to automate time-consuming, repetitive tasks for corporate accounting teams in areas such as accounts receivable, accounts payable and general ledger.

Client Hub is based in Gainesville, Fla., and provides a communications platform for accountants and clients through an all-in-one workspace and mobile app, aimed at eliminating the need for email conversations and easing the delivery of critical data.

Finally Dryrun, based in Canada, make a cash flow solution, cash flow being one of the most critical pieces of information for small businesses.

“The value proposition for these companies is they get access to insights from senior leaders of the Association and CPA.com, as well as a panel of distinguished advisors with deep ties to the accounting profession,” said Lawson Carmichael, chief operating officer of the Association. “And for us, the program keeps us connected to front-line innovation.”

Each winner will be given the opportunity to present information about their company in June at AICPA ENGAGE, the American Institute of CPAs’ annual educational and networking conference (the Association of International Certified Professional Accountants is a joint venture between the AICPA and the Chartered Institute of Management Accountants, a professional member organization for U.K.-based accountants). They will also get a nominal funding investment and guidance from a panel of experts in the profession on marketplace needs.

The startup accelerator was set up two years ago to promote innovation in the accounting profession and give the Association and CPA.com more visibility into disruptive trends from emerging technologies.

“Early-stage technology companies are driving great innovation and new capabilities for the CPA profession,” said Erik Asgeirsson, president and CEO of CPA.com, the technology subsidiary of the AICPA. “We got great feedback from our first class of companies last year, and we expect to build on our progress with this current group of innovative startups.”