Accounting has long been burdened with manual, tedious workflows, requiring extensive time for tasks like data entry, reconciliation, research, and report generation. This issue is compounded by an aging workforce, with 75% of CPAs set to retire in the next decade and fewer new professionals entering the field.
The industry is at a crossroads, facing significant turnover due to outdated tools and stagnating wages, with over 300,000 accountants and auditors leaving their jobs in the past two years. However, advancements in AI, such as ChatGPT version 4 passing the CPA exam, signal a transformative shift. We are driving this change.