3 Take-Aways from Caseware’s Canadian Roadshow
In the last several weeks, we travelled around the country to host our Caseware Roadshow: Putting Technology Into Practice.
It was a pleasure to have over 600 practitioners join us to learn how to more efficiently manage their practice from start to finish. Across the 6 events, we discussed our new cloud-based product, Caseware ReviewCompTax, and the latest developments of our Analytics.AI product that will be coming to market this fall. In addition to these new releases, we focused on the following topics:
- Data-driven engagement
The accounting profession has been largely affected by the phenomenon of big data - trial balance, sub ledgers, transactional details, publicly available data, contracts, and more. In today's business environment, firms have the capability of leveraging this big data and can move towards the data-driven engagement as systems are now integrated with the cloud, the Internet of Things, and external data sources. With all of this data being digitized and easily accessible, engagements often use big data and analytics to remain competitive.
- AI-infused workflows
Artificial Intelligence (AI) - technology that enables computers to perform decision-based tasks - has been infused into critical areas of the modern engagement. As a result, the mundane, manual tasks once fulfilled by practitioners are now fully automated using AI-based technologies. While the projected adoption rate is substantial, it is important to note that AI will not eliminate the role of accountants. Instead, AI will empower accountants to take on an advisory role that focuses on generating value for clients.
- Real-time collaboration
Collaboration has always been fundamental to the accounting profession. When firms promote collaboration, they experience an increase in productivity levels. Online solutions allow for real-time collaboration from anywhere, at any time, on any supported device with an internet connection. This significantly lowers the risk of duplicating efforts while clients are able to count on getting their financials and assessments in a more timely manner.
Overall, the sole practitioners and large firms who attended our roadshow were equipped with the knowledge and tools needed to complete engagements 25% faster*.
Thank you to everyone who joined us. We look forward to meeting more of you during our next bout of events in the fall!
*based on internal investigation, research, and feedback from client trials