AI for Accountants: the Smart Savvy (and Silent) Business Partner

👋 Welcome back! Here are the most-clicked articles from the Accounting Apps newsletter📧 during w/c 13.11.22:

AI for Accountants: the Smart, Savvy (and Silent) Business Partner | (XBert)

Using AI and machine learning in your accounting firm also improves the quality of the audit process. You can reduce the hours on review and rework, knowing the margin for human error has been removed. This means you can focus more on high-value activities in your business – like advisory, or onboarding new clients. There are three key benefits to introducing ai and machine learning into your accounting firm, in the form of an audit and practice management tool. But only if you implement the right one. Let’s take a look.

A Financial Teardown of Afterpay | (SBO) 

Jason Andrew introduces this article on why the company is so successful. To help you unpack Afterpay’s business model and dissect the financial levers of how it makes money, this read will guide you through how Afterpay makes money, unpacking the One Key Metric that will make or break the company and, finally, the key risk factors that could turn it from a sexy Fintech into a boring bank.

Process Map Alternatives to Flowcharts | (Skore) 

Mapping a business process in a flowchart makes sense at first glance. Flowcharts take a list of steps and help you visualise them with arrows and boxes or bubbles, and we’ve all used them at some point in our lives. They may therefore seem to be the perfect solution to visually mapping your business processes – but there are challenges to solely relying on them. Let’s dive into the world of process mapping with flowcharts, their limitations, and some possible alternatives to consider.

What’s the Best Document Management System for You? | (AccountingWeb) 

Historically, finance teams relied on manual processes to manage operations. But the future of work looks very different in a remote and hybrid economy. Tasks that previously consumed hours can easily be carried out using cloud automation — allowing companies to cut costs, allocate more time to staff, reduce errors and improve security. The good news is that businesses are no longer on the fence when it comes to automation.

Growth Planning – The Modern Way to Write a Business Plan | (LivePlan)

Growth planning is an ongoing business planning process that helps keep you focused, grow faster and adjust quickly to change. It prepares you to build a better business, not just a single business plan document. It all starts with a simple, one-page business plan—which you can download and create with this completely free template. From there, you can use growth planning to clarify ideas, set solid strategic goals, track financial performance, and refine your strategy as you learn more about your customers and their needs. Here’s a quick overview of the four-step growth planning process.

Which one of these highlights have you enjoyed the most during this week? 📋