The Association of International Certified Professional Accountants and CPA.com, the American Institute of CPAs' technology subsidiary, are launching an initiative to provide funding and support to early-stagecompanies developing innovative technologies for the accounting profession. The Association and CPA.com Startup Accelerator will seek to support as many as five early-stage companies during the next year. The focus will be on startups in two key areas:

• Technology and financial information, which could include advances in artificial intelligence, automation of routine tasks, and the application of blockchain/digital ledgers; and
• Professional competency innovation, which could encompass machine learning to personalize professional education, collaboration tools for mentors and experts, and improvements in measuring professional competency, among other categories.

The Startup Accelerator will provide as many as five companies with up to $20,000 in funding and access to subject-matter experts, including an advisory panel of thought leaders in the accounting technology field available to provide coaching and mentoring on issues and opportunities unique to the profession. The funding will be subject to a commercial agreement that could take any number of forms, including using the funding to purchase equity in the startup or to assist with development of a product in which CPA.com and/or the Association would own part of the product's intellectual property. Another possibility would be a channel agreement to provide access to the market.

Firms chosen for the accelerator initiative also would have the opportunity to showcase their product or service next June at AICPA ENGAGE 2018, one of the largest accounting-related events in the United States, and—with continued, successful development—the potential for longer-term, strategic relationships within the profession.

The main goals for the Association and CPA.com in launching the accelerator are to promote innovation and to give the accounting profession early insight into disruptive technologies and services in finance and business.

Applicants from all global markets are eligible to apply for one of the five accelerator spots. To qualify:

• Startups should be at a pre-Series A stage of financing, with some exceptions.
• The company must have a functioning product or service.
• Pre-revenue companies will be considered based on their development progress and business plan.
• Candidate companies must agree to pitch their product or service to Association and CPA.com executives this fall, after which up to five finalists will be selected.

Submissions by startups are due by Oct. 5. Interested companies that want more information can contact Greg LaFollette, a strategic adviser with CPA.com, at Greg.Lafollette@hq.cpa.com, or Mark Brooks, senior manager of innovation at the Association, at Mark.Brooks@aicpa-cima.com. To apply for consideration or learn more details about the Startup Accelerator, visit aicpaglobal.com/accelerator.

A new book shares the insights of 11 thought leaders in accounting and business advising to provide practical strategies for helping firms make technology decisions that will propel their growth in today’s environment.

Just in time for summer reading, the paperback book, Tech Roadmap: Selecting the Ideal Solutions to Thrive in Business Advising, is an easy way to plan for technology expansion within an accounting or business advisory firm. It includes real-world advice from leading experts on preparing firms to navigate technology choices, determining which technologies are best suited for the challenges facing firms and ensuring the solutions work for a firm.

“We know the opportunities and pitfalls that technology creates,” Sageworks Chairman Brian Hamilton wrote in the book’s foreword. “We also understand what a critical choice technology is for accountants and others who advise businesses, and we get how difficult it can be to make those choices. At a time some people are predicting that robots will replace accountants, we believe technology, instead, will allow public accountants and advisors to shift their focus from mechanical, routine work to a more analytical role that proactively helps business owners run their businesses better.”

Each chapter features advice from leading industry experts, including Erik Asgeirsson, L. Gary Boomer, James C. Bourke, J. Carlton Collins, Charles Hylan, Rita Keller, Greg Lafollette, Dana “Rick” Richardson, Donny Shimamoto, Doug Sleeter and Brian F. Tankersley. Tech Roadmap’s three key chapters explain:

• The Groundwork – What needs to happen at a firm before it begins vetting specific technology?
• Addressing Challenges With Technology – What types of technologies should be considered?
• Making Tech Work – How can firms ensure technology is adopted successfully?

To purchase the paperback on Amazon, visit: Tech Roadmap: Selecting the Ideal Solutions to Thrive in Business Advising.

Long-Term Relationship Underscores Success of Partnership and Ongoing Commitment to Profession

NEW YORK (June 26, 2017) – CPA.com, the technology arm of the American Institute of CPAs, and Bill.com, the nation’s leading business payments service, have agreed to extend their strategic partnership. Together, the two organizations will continue to help CPA firms grow their client accounting service practices and improve profitability through the power of cloud technology and digital payments.

Bill.com, used by more than half of the top 100 accounting firms, is the preferred provider of digital payments solutions for CPA.com, which offers a broad array of resources for firms on technology adoption and change management. The long-term partnership between Bill.com and CPA.com is based on strong traction and proven success with transitioning firms to cloud-based accounting services. Through training and educational programs such as the client accounting advisory services certificate and the Digital CPA workshops and conference, CPA.com has positioned firms to succeed in the shift to higher-margin, higher value services.

Firms using Bill.com, meanwhile, report substantial business growth and efficiency gains on once tedious, error-prone and time-consuming bill payment and invoicing processes. Bill.com is recognized as SOC 2 compliant, offers flexible and robust payment controls and, with features such as Positive Pay, offers greater payment security than paper checks.

“Early on at CPA.com, we identified the cloud as a transforming technology for client accounting and virtual CFO services,” said Erik Asgeirsson, president and CEO of CPA.com. “Traditionally, the business payment process presented a substantial pain point for accounting firms and their clients, and we felt we could play a role in reducing that burden. Our relationship with Bill.com offers firms a proven way to leverage technology to grow, establish a competitive advantage, and satisfy and retain clients.”

The Bill.com Accountant Program in partnership with CPA.com offers significant advantages for firms building an advisory practice and their clients with:

1. Digital AR and AP, including the ability to review, approve and pay bills from any device, at any time
2. A single sign-on console that allows firms to manage all clients
3. Convenient and secure cloud-based management and storage for bills and documents
4. Integrations with leading accounting solutions
5. The ability to maximize efficiency with certifications, training and tools that help grow practices

“With CPA.com, we have spent nearly a decade working with and listening to the nation’s leading accounting firms. Bill.com has developed into an essential tool that promises more innovations in the future. We are delighted to extend our partnership with CPA.com and continue our journey to help firms become more efficient and profitable through technology,” said René Lacerte, CEO and founder of Bill.com.

Firms say the best gauge of the program’s effectiveness is the response from their clients.

“Bill.com allows us to increase collaboration with clients, while adding the right controls and expediting the bill pay process,” said Lila McNair, a CPA with Warren Averett, CPAs and Advisors, a Top 35 firm in the southeastern United States. “The built-in access and controls are unmatched by other solutions.”

“We had no bill payment clients before adopting Bill.com three years ago. With Bill.com, we now have a service that brings in $250,000 a year in revenue,” said Matthew May, managing partner of Acuity. The firm has built its client base by bundling services with innovative third-party technologies.

For more information about the Bill.com Accountant Program, visit Bill.com or cpa.com/bill-management.

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/Controller services by firms.

CPA.com is a subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.

About Bill.com

Bill.com is the leading business payments network, with over 2 million members paying and getting paid over $36 billion per year in volume. Bill.com saves companies more than 50% of the time typically spent on financial back-office operations by automating end-to-end processes. Bill.com ties together finance and accounting programs, banks, customers, vendors, accounting professionals, and documents. The company is the choice of three of the top 10 U.S. banks and over 50 percent of the top 100 accounting firms. Bill.com is a trusted partner of Intuit (makers of QuickBooks Online), Xero, and the American Institute of CPAs. The recipient of more than 70 awards, Bill.com was recently recognized as one of the San Francisco Business Times Most Innovative Companies and proudly received a PC Magazine’s Editor’s Choice Award.

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