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Automating lead generation, onboarding can save time, sanity

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1 year ago

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Whether they’re individuals or organizations, clients are the heart of the accounting profession, the reason why firms even exist in the first place. But finding the right client–or even determining what the right client is–can be a major challenge that takes up significant time and focus. However Kellie Parks, owner of Calmwaters Cloud Accounting and a speaker at Woodard’s Scaling New Heights conference in Orlando, said this process can be dramatically simplified with automated processes that don’t even need significant tech investments to implement. 

While it might be tempting for a practitioner to take on all comers, Parks said this is bad not only for the accountant, who likely is taking on far more work than they can handle, but also the client, as they won’t be able to bring them value in the way they need. The key to bringing in clients that are a good fit, she said, is vetting them before they even come through the door, whether real or virtual. This means that, first, professionals need to develop a system that filters out unqualified prospects who the accountant cannot really help. While an accountant might be loath to give up potential business, Parks said it’s really better for both the professional and the prospective client to know ahead of time if a relationship can work. 

“Repeat after me: ‘I cannot bring value to your business.’ It is super key that your language is always facing the prospect for your client, it’s not that their business model doesn’t suit you or that they’re yucky. It is that you cannot bring value to their business, and that will create an entirely different way of thinking about it for you,” she said. 

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Business Lead And Customer Generation Magnet Pulling Figures

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While determining who is and isn’t a good fit can take a lot of time, the process can be much easier through the use of a simple electronic discovery form, which can be made with a wide variety of form-builder software solutions. She said links to the form should be not only on the practitioner’s website but anywhere people might stumble across the firm, such as social media or referral platforms or marketing materials. The form doesn’t have to be complicated, as its purpose is more to screen out unsuitable candidates who do not fit the ideal client profile. She noted this is not an engagement form, so it really only needs about three to five questions that check for disqualifying factors. 

But what factors? Parks said it depends on the kind of work the firm wants to do and how. A firm might have an industry specialization, like nursing homes or charter schools, so their form might ask about their relationship to these fields; the firm might only do taxes or audits and so their form might ask about the need for these services; it might only be able to work with clients using a particular software platform like QuickBooks, and so their form might ask about their tech stack; maybe they only work with certain entity types like partnerships or C corporations, meaning their form might ask about business structures. Overall, she said, the form should align with the strategic goal and preferences of the firm. 

“Who can I make a difference to? … The minute you know who your target audience is you’re gonna have a lot easier time building out your discovery process. If you don’t know who you’re trying to target it to, you have no idea what those questions are going to look like. And so define your ideal client,” she said. 

For example, the discovery form could also be used to filter for communication preferences and collaboration styles, like if the practitioner prefers communicating over email the form could filter for people who do the same. The form could also filter out clients with international scope if the practitioner doesn’t want to deal with multiple currencies, or filter out clients with presence in multiple states if they don’t want to manage several different tax jurisdictions, or filter out clients in specific industries the practitioner does not do well with. 

“If you don’t do inventory, you’re probably not going to be serving the manufacturing community. If you don’t do multi currency. You’re probably not going to be serving firms that are international in scope. So it’s not just about whether you like the client. It’s about all these other things that go with how you’re going to bring value to their business,” she said. 

Regardless of what is specifically on the form, a discovery form can take over the long and tedious process of vetting clients, effectively having the clients vet themselves. If they check all the boxes the practitioner needs for their ideal client, they can then follow up, and if they don’t then the form can simply tell them that they’re not a good fit for the firm. 

She also said that practitioners will likely change their ideal client profile as their own firm grows and scales, which makes it important to revisit their discovery form on a regular basis. 

“I’m not saying build an ideal client profile now and then stick to it. You’re always going to be iterating, whether it’s your ideal client, whether it’s your goals, whether it’s your form, whether it’s your discovery process, you’re always going to be iterating. But the hardest part is getting started. So find new things that are key to you for your ideal client, and then take it from there,” she said. 

Client intake

A similar automated approach can be taken when onboarding clients as well. Parks, in another session, noted that there are many ways to automate this process to save time. For instance, at a certain point the client will need to start sending information to the accountant, which she said is “a real sign of how the marriage is going to go.” 

“If they cannot get things to you when you’re dating, they’re never going to get things to you month after month once you’re in the grind of marriage,” she said. 

This stage can benefit from automation via repurposing marketing software. She said there are automated marketing solutions that allow people to run email-based “drip campaigns.” In marketing terms, a drip campaign is a strategy that involves sending a series of automated, pre-written emails to a targeted audience over a period of time. These emails are triggered by specific actions or events, such as signing up for a newsletter or abandoning a shopping cart. 

These automated emails can be easily modified to support, instead, requesting information from clients at specific times. 

“People think of it as just for marketing, but it’s actually great for onboarding clients, in that you can ask them to do one thing at a time, so you don’t overwhelm them,” she said. “This used to be an email drip campaign. Now it is actually client tasks, where a client task goes out and they upload something, or they answer some questions, and then the next thing and the next thing happens,” she said. 

These same automated emails can also be used to educate clients, whether automatically contacting them in the case of tax law changes or to educate them on how to do things like connecting their bank feeds to the accountant’s tech stack or providing technical support links for their software.

Overall, she said, clients should be encouraged to help themselves whenever possible so that they’re not constantly pinging you with this or that simple query. 

“Don’t be afraid of clients not needing you. … You have started to empower your clients not to need you for the drudge work. You don’t need those. Those are not high value touch points,” she said.

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Accounting

SEC’s Semiannual Reporting Proposal Faces Investor Pushback: What CFOs Need to Know

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1 day ago

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August 25, 2026

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U.S. Securities and Exchange Commission (SEC)

A proposal from the U.S. Securities and Exchange Commission to potentially shift some public companies away from quarterly financial reporting toward a semiannual model is drawing significant pushback from investors, even as it continues moving through the regulatory process. The debate has direct implications for corporate finance teams, auditors, and the broader transparency of U.S. capital markets.

What the SEC Proposed

According to a summary published by accounting advisory firm Cohen & Co., the SEC issued a proposed rule on May 19, 2026, aimed at simplifying financial reporting requirements for many U.S. public companies. The proposal would potentially reduce the frequency of certain mandatory disclosures from quarterly to semiannual, a structural change that has not been made to core U.S. reporting requirements in decades.

The proposal follows an extended debate within U.S. policy circles, with proponents arguing that reduced reporting frequency could lower compliance costs and free up management time for longer-term strategic planning rather than quarter-to-quarter results management.

Why Investors Are Pushing Back

Comment letters submitted in response to the proposal have been extensive, and according to Cohen & Co.’s review of the public record, investors “appear to be largely opposed” to the shift, viewing frequent interim reporting as a core benefit of U.S. capital markets relative to other jurisdictions.

Accounting and law firms have taken a more measured position, generally urging any changes to remain aligned with the Financial Accounting Standards Board (FASB), whose existing disclosure requirements and guidance are built around a quarterly reporting cadence. A shift to semiannual reporting without corresponding changes to FASB guidance could create friction between SEC filing requirements and GAAP-based disclosure expectations.

Lessons From the U.K. Experience

The debate is not without precedent. The United Kingdom moved away from mandatory quarterly reporting for listed companies in 2014, returning to a semiannual disclosure requirement. According to Cohen & Co.’s analysis, that experience offers a cautionary data point: there was no measurable increase in capital expenditure or R&D investment following the change, while analyst coverage of affected companies declined as reliable interim information became less available — a particular risk for smaller and newly public companies that rely on analyst coverage to maintain investor visibility.

Practical Implications for Finance Teams

Beyond the debate over disclosure philosophy, the proposal carries practical complications. Many companies have debt covenants and credit agreements structured around quarterly financial delivery; a shift to semiannual reporting could require renegotiating those terms. Reduced reporting frequency would also extend the “window of market silence” between disclosures, a factor that governance and investor-relations teams would need to manage carefully to avoid information asymmetry.

Separately, and unrelated to the reporting-frequency debate, the SEC and FASB have continued finalizing more routine updates this year. New Accounting Standards Updates are taking effect for December 31, 2026, fiscal year-ends covering income tax disclosures, credit loss measurement, induced debt conversions, and stock compensation, according to Eide Bailly’s review of 2026 ASU activity. Additional guidance on paid-in-kind dividends and environmental credits is also on the near-term horizon.

What to Watch Next

The semiannual reporting proposal remains in the comment and review phase, and no final rule has been adopted as of this writing. Finance leaders should monitor the SEC’s regulatory agenda for further movement, while treating the current quarterly reporting requirement as the operative standard until any final rule is issued and an effective date is set.

Given the extent of investor opposition documented in the comment file, a full shift to mandatory semiannual reporting appears more likely to result in either a scaled-back compromise or continued study rather than swift adoption — though the SEC’s ultimate direction remains uncertain.

 

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Accounting

AI-Driven Automation and Continuous Accounting Frameworks

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2 weeks ago

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August 15, 2026

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The accounting profession is undergoing a fundamental structural transition as enterprise finance departments shift from periodic month-end closes toward automated continuous accounting models. By integrating specialized machine learning algorithms directly into enterprise resource planning (ERP) platforms, chief accounting officers are transforming financial reporting from a retrospective exercise into a real-time operational asset.

The Shift from Periodic Close to Continuous Financial Reporting
Traditional accounting workflows heavily relied on manual data reconciliation, spreadsheet calculations, and multi-week closing cycles at the end of each fiscal period. In contrast, continuous accounting frameworks utilize automated software agents to process, validate, and post transactional data in real time as business activities occur.

Automated bank reconciliation tools cross-reference incoming bank feeds, invoice records, and purchase orders automatically. By resolving transactional variances instantly throughout the month, corporate accounting teams eliminate the traditional workload spikes associated with quarterly and annual closes.

Machine Learning in Audit Trails and Anomaly Detection
Advanced natural language processing (NLP) and machine learning tools are redefining internal audit and financial control environments. Automated systems analyze 100% of general ledger entries, identifying anomalous transactions, duplicate payments, and unauthorized journal entries in real time.

Rather than relying on random statistical sampling, corporate internal auditors can focus their attention on high-risk flags automatically surfaced by algorithmic monitoring platforms. This continuous risk assessment strengthens internal controls over financial reporting (ICFR) and significantly reduces fraud risk.

Evolving Roles for Accounting Professionals
As routine data entry and manual reconciliation tasks become fully automated, the skill set required for accounting professionals is shifting toward data analysis, system design, and strategic business advisory.
– Systems Governance: Accountants are increasingly responsible for monitoring algorithmic accuracy and managing data integration pipelines.
– Business Partnership: Finance professionals leverage real-time financial dashboards to advise operational leaders on margin management and working capital allocation.
– Regulatory Compliance Management: Accounting teams utilize automated platforms to ensure compliance with dynamic tax codes and international accounting standards.

Core Implementation Recommendations
1. Deploy Automated Reconciliation Tools: Integrate continuous transaction processing modules into existing enterprise ERP architectures.
2. Establish Algorithmic Governance Controls: Implement strict internal testing protocols to ensure automated accounting rules comply with GAAP/IFRS standards.
3. Reskill Accounting Teams: Invest in training finance staff on data analytics, workflow automation, and predictive financial modeling.

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Accounting

Global ESG Reporting Standards and Double Materiality Compliance

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2 weeks ago

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August 9, 2026

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Corporate accounting departments face expanding reporting expectations as international sustainability disclosure standards achieve regulatory enforcement across major global jurisdictions. Chief Accounting Officers (CAOs) and corporate controllers are establishing rigorous internal accounting controls to treat Environmental, Social, and Governance (ESG) metrics with the same data precision, auditability, and governance as traditional financial statements.

Regulatory Harmonization Under Global Sustainability Frameworks
The implementation of standardized sustainability reporting frameworks—notably rules established by international sustainability accounting boards—has created unified expectations for public and large private enterprises. Corporations must report standardized metrics covering greenhouse gas emissions (Scope 1, 2, and material Scope 3), energy utilization, workforce demographics, and supply chain governance.

In Europe and other participating international jurisdictions, double materiality principles are mandatory. Under double materiality, organizations must report both how external sustainability risks impact corporate financial performance, and how internal corporate operations affect surrounding environmental and social structures.

Integrating Sustainability Metrics into Core ERP Systems
To provide auditable non-financial data, enterprise organizations are integrating specialized carbon accounting and ESG management platforms directly into core ERP systems. Automated data collectors capture energy utility invoices, logistics fuel consumption metrics, and vendor compliance records in real time.

Establishing automated, traceable data pipelines ensures that non-financial reporting is supported by clear audit trails. This structured approach allows external financial auditors to provide reasonable assurance on sustainability disclosures during annual corporate reporting cycles.

Financial Impacts and Capital Market Disclosure
Accurate ESG reporting directly influences corporate cost of capital and institutional credit ratings. Commercial lenders and institutional asset managers systematically incorporate sustainability metrics into risk pricing models. Companies that demonstrate transparent, verifiable progress in operational energy efficiency and climate risk mitigation benefit from expanded access to green bond markets and lower debt pricing.

Action Steps for Accounting Leadership
1. Implement Double Materiality Frameworks: Conduct comprehensive assessments to identify material financial and operational sustainability metrics.
2. Build Auditable Non-Financial Data Pipelines: Automate ESG data collection within core accounting software to ensure data integrity.
3. Align Sustainability with Annual Financial Filings: Prepare non-financial disclosures concurrently with financial statements to satisfy regulatory audit expectations.

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