Chris Gaetano is the technology editor for Accounting Today. He brings with him more than a decade of experience covering the accounting profession as part of the NYSSCPA's Trusted Professional. Prior to that, he was a local news reporter at Greater Media Newspapers in New Jersey. He graduated from Rowan University, in Glassboro, NJ.
Rightworks plans to expand in response to changing dynamics brought on in part by the growing influence of private equity.
Sovos announced plans to expand into the Asia-Pacific and Middle East regions, starting with the acquisition of India-based Tax Technology ASP business unit from India-based IRIS Business Services.
The rising adoption of AI at accounting firms has come with a growing need for open and transparent talks with clients about how the technology is used, and what measures are taken to address their concerns about it.
A third of accountants conceded in a survey they would not be able to recognize an AI-generated fake receipt if it came across their desk.
Plus, Stampli launches a solution for AP automation; PwC buys a fintech consultancy; and other accounting tech updates.
Bloomberg Tax and Accounting launched an embedded solution to help users adhere to the FASB Accounting Standards Update that concerns income tax disclosures.
The new Docyt High Precision Accounting Intelligence engine was built specifically to automate complex accounting workflows via a variety of AI agents.
An EY report notes there are over 1,000 AI-related regulatory frameworks worldwide, but overall they seem to be settling into three types.
Plus, Lili introduces credit program; Mastercard announces Commercial Direct Payments solution; and other accounting tech news.
Accounting firms are getting tired of switching between applications that don't integrate.
While organizations understand AI governance and controls are important, actual implementation lags behind significantly due to leadership and culture.
Accounting management platform Sage has acquired small business-focused expense management platform Fyle.
Plus, Pipe launches AI agents for small biz; Wolters Kluwer divests its Finance, Risk and Regulatory Reporting unit; and other accounting tech news.
The White House released "America's AI Action Plan," which calls for a wide variety of measures such as cutting regulations, promoting standards, encouraging training and aligning models with certain values.
Karbon hailed the launch of Karbon for Clients, touted as an end-to-end solution that manages the entire client lifecycle from onboarding to delivery to long-term relationship management.
Intuit announced the release of new proactive AI agents for its Intuit Enterprise Suite, in addition to enhanced automation, business intelligence and financial management capabilities.
Canopy announced the availability of its new Smart Intake solution, to automate client intake and onboarding, fully embedded in Canopy's unified platform.
Aprio announced it has acquired AI accounting assistant platform TimeCredit, a 2024 AICPA and CPA.com Startup Accelerator company, as part of a larger $300 million investment in AI and automation.
Tax compliance solutions provider Sovos announced new AI capacities, called "Sovi," not as a standalone feature, but as an intelligent layer embedded throughout the compliance lifecycle.
Amid cost pressures, more than a third of finance leaders have paused at least some capital spending and cut costs in virtually all areas except for AI.