The American Institute of CPAs and CPA.com announced the participants of its 2024 Startup Accelerator program, which will kick-off this week at a meeting at their headquarters in New York. This year’s participants include seven early-stage companies leveraging artificial intelligence aimed at creating efficiencies and enhancing value in services across audit, accounting, tax advisory and firm management.
The Startup Accelerator supports the growth of early-stage technology companies benefiting the accounting and finance ecosystem. Selected companies receive focused insights from subject matter experts and firm and finance leaders who are reshaping the profession. They also benefit from strategic intelligence, business acumen and guidance from AICPA and CPA.com senior leaders and the program’s advisory board members. Additionally, selected companies will receive a $25,000 grant and have an opportunity to showcase their solutions at AICPA & CIMA ENGAGE, the premier conference for the accounting and finance profession that will be held in June at the ARIA Resort & Casino in Las Vegas.
“Artificial intelligence is going to play an increasingly strategic role in the world of accounting and finance,” said Kacee Johnson, vice president of Strategy & Innovation at CPA.com. “Our responsibility is to stay ahead of trends in technology so we can identify and foster solution providers with the best potential to meet the changing needs of the profession. The Accelerator program is a great way to stay current with the latest entrants into the ecosystem and connect these providers with CPAs that can put their solutions to work.”
The following technology providers were selected for inclusion in the 2024 cohort:
- Aider delivers compliance efficiencies, while enabling AI-powered advisory at scale for firms.
- Black Ore offers CPAs an AI-powered tax preparation platform designed to automate complex tax returns quickly and accurately, which can reduce burnout and give CPAs more time to focus on client advisory and growing their firms.
- TimeCredit provides AI-powered research and documentation tools for accountants to automate technical memo writing and answer complex questions instantly.
- Laurel utilizes advanced AI to automate timekeeping and address billing complexities for accounting firms, saving timekeepers valuable time and offering unparalleled insights into their operations.
- Digilence offers AI, machine learning, automation and intelligent document processing capabilities to accounting firms through its Digilence Cloud, using a SaaS model.
- Supervizor an advanced audit analytics software automates financial anomaly detection for continuous error and fraud detection.
- Materia provides an AI-powered intelligent workflow automation platform for public accounting firms that helps improve the efficiency and quality of audits.
This year’s AI-focused cohort is part of a broader Generative AI initiative by CPA.com to support the profession in understanding and harnessing the capabilities of this rapidly expanding technology, including a GenAI toolkit, an AI Symposium and other resources housed at CPA.com/gen-ai. For more information about the Startup Accelerator, please visit cpa.com/accelerator.
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