The boom in technology across numerous industries has meant opportunities for advancement in how professionals do business. Accounting is no exception. Many of the once tedious tasks performed by accountants are now being performed by artificial intelligence (AI), allowing professionals to focus on more advisory roles that brings greater value to clients.
For example, robotic process automation (RPA) has reduced audit and contractual processing times from several months to a few weeks. Larger firms taking advantage of AI are outpacing smaller accounting offices through increased efficiency and higher level services.
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