In Pursuit of Profit
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 Time and time again we have clients come to us expressing regret over their accounting hiring decisions. They say things like:
“…We hired what we could afford and the person we brought in is totally underqualified…” “…We’ve had so much turnover in the role – we just can’t keep anyone, and we don’t have the budget to get someone who will stick around…” “…We simply can’t find what we’re looking for these days at the price we’re willing to pay…” “…We put off hiring because we didn’t want to spend the money before, but now we’ve waited far too long and we need to find someone immediately!..” The lesson here is clear – trying to cut costs with accounting hiring is always going to cost more in the long run! Let’s look at why hiring a “cheap” accountant is actually more expensive than hiring a good accountant and how you can improve your hiring strategy. 4/15/2024 Artificial Intelligence Already Powers A/R and A/P – Are Budgeting and Forecasting Next Up? As accounting consultants, we have seen AI usage increase dramatically over the last five years across daily accounting activities throughout organizations of all sizes. So, where is AI most widely used in bookkeeping and accounting these days?
When it comes to AI in accounting, A/R and A/P augmentation has proven to be the low hanging fruit. As accounting technology has grown more sophisticated machines have been tasked with doing these types of repetitive functions that have traditionally bogged organizations down with manual work. With A/R and A/P already being powered by AI, what can we expect next?  Usually, we discuss more specifically focused accounting and bookkeeping topics to share in-depth industry knowledge with our readers. However, today we’re going back to the basics to answer a fundamental question: “What does an accounting services provider do?”
Simply put, an accounting provider does less than full-time work. This work can be either ongoing part-time work or short-term work (which includes interim engagements and project-based work). What does that entail exactly? |
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4/29/2024