There is no doubt that AI has fundamentally reshaped the accounting profession by shifting the focus from routine tasks to high-value, strategic planning. Traditionally, accountants spent most of their time on manual data entry, compliance, and transactional processes, but with AI’s ability to automate repetitive tasks, you’re now free to engage in meaningful work that provides greater value to your clients.
AI-powered tax technology can also streamline tax preparation, bookkeeping, and audit workflows, significantly reducing errors and improving efficiency. With machine learning algorithms, your firm can quickly process large datasets, identify anomalies, and ensure compliance with ever-changing tax regulations, which enables your staff to spend more time on personalized client support.
According to Katie Lomness, CPA and Founder of Lomness CPA and last year’s Thomson Reuters Firm of the Year, AI-powered tax technology has transformed her firm’s traditional accounting workflows—and it’s only the beginning.
To dig deeper, visit the original article on the Thomson Reuters blog.