Fieldguide has once again won the prestigious CPA Practice Advisor Technology Innovation Award in 2023. This three-year streak underscores Fieldguide's unwavering commitment to pioneering AI-driven solutions that redefine the audit and advisory landscape. CPA Practice Advisor specifically recognized the newly released Fieldguide AI, a practitioner-centric technology designed to empower and elevate the services provided by advisory firms. Read the full article from CPA Practice Advisor here.
Many partners and executives at Top 500 firms are looking for a way to best leverage AI to push their firm forward, drive client conversations, and continue improving efficiency. Fieldguide AI represents a paradigm shift in advisory services, offering a suite of AI-driven capabilities that automate routine tasks, enabling team members to engage more meaningfully with clients and encouraging critical thinking regarding client risks. Fieldguide AI liberates professionals from mundane tasks, allowing them to focus on delivering exceptional value to clients and maintaining the highest standards of service. Fieldguide AI is already helping firms reshape client engagements, and with our upcoming innovations, practitioners will be able to more flexibly harness the potential of AI in all aspects of their engagements.
In fact, Mark Koziel, President and CEO of Allinial Global, stated: "Fieldguide AI is a step change in the CPA profession that addresses the talent pipeline challenges head-on. With its advanced AI technology, firms can automate the laborious tasks that consume valuable time, enabling professionals to focus on strategic initiatives and cultivate closer relationships with clients. This innovation propels us into a new era that empowers teams to deliver exceptional service while moving the industry forward."
What makes Fieldguide AI so compelling right now are three exceptional capabilities:
1. Drafting: Fieldguide AI Streamlines Client Requests
During the testing phase of engagements, auditors are often inundated with creating a multitude of client requests and tasks, especially with more complex engagements. Fieldguide AI functions as an invaluable assistant, quickly generating tailored test plans and client requests that align seamlessly with the firm's guidance and testing methodologies. With Fieldguide AI, firms can improve client responsiveness while ensuring high quality standards.
2. Analyzing: Fieldguide AI Simplifies Document Review
The process of auditing evidence demands a meticulous and comprehensive review. Fieldguide AI employs intelligent algorithms to scrutinize documents, identifying and highlighting essential issues or gaps with requirements. This meticulous analysis ensures the overall quality and rigor of the review process. Furthermore, Fieldguide AI provides auditors with precise document summaries, cross-referenced to various audit requirements, thereby rendering the review process more insightful and efficient.
3. Coaching: Fieldguide AI Drives Adherence for Best Practices
Fieldguide AI assumes the role of a trusted coach, offering guidance to advisory firms to uphold their methodologies and audit guidance. It not only assists in reviewing engagements but also actively ensures the consistent implementation of established best practices. This dual function strengthens the reliability and integrity of the advisory process.
Going forward, Fieldguide AI will continue leveraging the latest technologies to allow practitioners to be both more strategic, efficient, and responsive to clients. Practitioners will soon be able to use tailored AI prompts that allow them to leverage artificial intelligence for any part of the engagement. For example, a practitioner could say, “Analyze this control activity, and identify three risks that should be reviewed by the audit team. Consider risks from the prior year’s engagement.” This is just one use case where AI would allow team members to get instant recommendations based on the firm’s best practices.
To sum up, everyone at Fieldguide is excited about winning the CPA Practice Advisor Technology Innovation Award, and we look forward to continuing to deliver new AI-powered innovations that will help our customers in the months ahead.
September 6, 2023
