Intuit steps up, and other tech stories you may have missed

October 16, 2024 10:00 AM

Intuit launched an all-in-one accounting solution for mid-market businesses, LiveFlow raised $13.5 million to modernize accounting, a host of developments in AI, and other technology stories you may have missed in the last month and how they'll impact your clients and your firm.

1. Intuit introduces Intuit Enterprise Suite

Intuit has launched the Intuit Enterprise Suite (IES) — an all-in-one solution tailored for mid-market businesses. It integrates financial management, payroll, marketing, project management, and AI-powered insights to enhance productivity and profitability. The suite aims to streamline operations, reduce manual tasks, and provide real-time business intelligence. (Source: Business Wire)

Why this is important for your firm and clients: IES is trying to fix that age-old problem that has challenged so many companies: Why can't we just have one system that does it all? This update comes as a response to a 2024 Business Solutions Survey that found most businesses are looking for "better integration capabilities and more automation" with their applications. The company will provide a migration path for its current QuickBooks users and will be focusing on the construction and service industries out of the gate.

2. LiveFlow Raises $13.5M to modernize accounting

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Accounting automation tool LiveFlow has raised $13.5 million in a Series A funding round led by Valar Ventures. According to the company's announcement, the funding will support the launch of LiveFlow Next, a platform aimed at "transforming accounting firms into financial advisory powerhouses." (Source: LiveFlow)

Why this is important for your firm and clients: If you're an accountant or run an accounting firm, pay attention. LiveFlow Next offers tools like custom dashboards, AI-driven transaction categorization, and forecasting. The company is offering technology to help fix the accountant shortage plaguing the industry with tools to synchronize and report on data from mainstream systems like QuickBooks and Xero.

3. AI makes a mockery of CAPTCHA

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Recent research from ETH Zurich shows that AI models can now consistently bypass CAPTCHA systems designed to block bots. CAPTCHAs — which traditionally ask users to identify objects like traffic lights or buses — are vulnerable because AI can now recognize these objects with high accuracy based on their results. This breakthrough raises concerns about web security as it could lead to increased bot-driven attacks, forcing developers to seek more advanced alternatives to CAPTCHAs for protection. (Source: TechRadar)

Why this is important for your firm and clients: As soon as I saw this I notified my website developer. Before putting up a CAPTCHA box on my site I was getting pummeled with bots. That stopped. But it looks like AI wins again, and we're the losers. Don't panic — there are alternatives.

4. 7 habits max your laptop battery capacity

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Ashley Biancuzzo of PCWorld outlined seven essential habits to maximize your laptop's battery life. These include lowering screen brightness, turning off keyboard backlighting, and closing unnecessary apps. Biancuzzo points out that seemingly harmless habits, such as leaving a laptop plugged in most of the day, can diminish your battery's capacity over time. To see all of her tips, visit the link. (Source: PCWorld)

Why this is important for your firm and clients: A million of these articles have been written over the years, and yet I'm still drawn to them because there's always new advice and it's a good refresher. Biancuzzo's piece doesn't disappoint.

5. Amazon Business upgrades features for B2B ecommerce

At its Reshape 2024 event, Amazon Business introduced several new B2B e-commerce features. These include SAP Ariba integration for improved procurement management, a personalized hosted product catalog, and an inventory restocking service called AB Restock. Amazon Business is also enhancing its account login system and offering digital vouchers for business gift-giving. These updates aim to streamline business purchasing processes and improve operational efficiency across sectors. (Source: Digital Commerce 360)

Why this is important for your firm and clients: If you're not an Amazon B2B reseller, you're probably not interested in this news. But if you are, then you are. These updates aim to streamline business purchasing processes and improve operational efficiency across sectors.

6. Copilot Pages: An AI playground for businesses

Aiming to make AI a central part of daily workflows, Microsoft has announced new features for its AI Copilot assistant. Copilot Pages is designed for a "multiplayer AI collaboration," according to Microsoft. Copilot Pages are shared with a link giving collaborators the ability to edit and add content. Project plans and meeting notes can also be done in BizChat — a Copilot work hub. "This is an entirely new work pattern — multiplayer, human to AI to human collaboration," said Jared Spataro, a corporate vice president at Microsoft. (Source: The Verge)

Why this is important for your firm and clients: The software giant also promises a faster Copilot in Office. We'll see … .

7. Fintech is changing the landscape of financial planning

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Fintech is transforming the task of financial planning by making it more accessible, personalized, and efficient. Technologies like AI, robo-advisors, and blockchain are enabling better financial decision-making, automation of routine tasks, and increased transparency. Fintech tools help individuals and advisors create customized financial plans, manage investments, and plan for retirement with greater precision. (Source: Yahoo Finance)

Why this is important for your business: David Donovan — executive vice president and head of financial services at digital consulting company Publicis Sapient — commented on the advantages fintech will continue to provide: "Low-cost or even free fintech tools democratize access to financial advice, enabling younger, lower-income, or underbanked individuals to engage in financial planning," he said.

8. iPhone 16 Pro: A 'ridiculously overpowered supercomputer'

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Jason Hiner of ZDNet gives his "hands-on" review of the iPhone 16 Pro, highlighting several standout features: a touch-sensitive camera control button that performs multiple actions, a larger screen with thinner bezels, and upgraded video/audio recording. Hiner points out that the new audio mix software allows users to "edit audio directly" from the iPhone 16 and can separate background noise. Video recording can be done with the kind of pro-level quality found in expensive equipment. For Hiner's in-depth review, visit the link. (Source: ZDNet)

Why this is important for your firm and clients: Yeah, he loved it. All of these features — and its AI potential — is getting a lot of attention, and rave reviews. Apple seems like it has another winner. However, I'm an Android user, sorry. There are less expensive options and — at least for most employees — they're a more affordable device.

9. Getting comfortable with AI customer service

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With AI's expanding presence in the marketplace, customers are becoming comfortable with the technology's integration with customer service. CRM platform Kustomer released its Customer Service Index, which shows more customers are open to interacting with AI for customer service, appreciating its efficiency and availability. Half of consumers feel that AI has improved customer service and expect that trend to continue. The report touches on concerns with decreased human interaction because of AI's advantages. (Source: CX Dive)

Why this is important for your firm and clients: Actually, customers will have no choice. Once companies discover a technology that can save them money and increase productivity (i.e., the cloud, mobile apps, etc.) they embrace it and push it down to their audience. This is no different. Big companies are investing heavily in AI and the focus is on customer service — especially chatbots. Why? Because it saves them money and increases productivity! The challenge they'll face is balancing too much AI automation with a person's desire to speak to another human.

10. ServiceNow unveils data enhancements

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ServiceNow — a California-based software company that helps companies manage digital workflows for enterprise operations — has introduced significant data enhancements to its Now Platform, including the new RaptorDB Pro. The high-performance hybrid transactional and analytical tool delivers a 53% improvement in transaction times and faster analytics. The enhancements are designed to support ultra-scale performance, enabling users to handle complex AI workflows and access real-time insights. Future plans include the launch of Knowledge Graph, which will streamline data management and personalization across enterprises. (Source: ServiceNow)

Why this is important for your firm and clients: This is a platform for larger companies, not small businesses. But you can see where things are heading. ServiceNow's new offerings show how AI is quickly maturing. The company says it's their "biggest AI release yet" with AI agents that automate workflows with human-like reasoning and comprehension working in the background to independently solve tasks. This is a step above traditional generative AI because its agents have "the context, reasoning abilities and responsible controls to deliver a great, human-centric service."