Future proof your firm: Key takeaways from Aiwyn's Unlock 2024 user conference

Unlock, Aiwyn's annual user conference, brought together accounting professionals, firm leaders, and industry stakeholders to explore the latest trends, technologies, and strategies shaping the future of the profession.

The accounting landscape is undergoing rapid transformation, driven by disruptive technologies, evolving client expectations, and market dynamics. Unlock 2024 addressed these challenges head-on, equipping attendees with the knowledge and tools necessary to navigate this changing environment successfully. From leveraging artificial intelligence (AI) and automation to optimizing billing processes and client engagements, the event covered a wide range of topics critical to firm growth and sustainability.

Aiwyn PracticeOS Roadmap & Transformation Blueprint

Aiwyn unveiled PracticeOS, a comprehensive platform designed to address key operational challenges in accounting firms. Built to streamline practice management, PracticeOS integrates your tech stack into one cohesive system, enabling firms to drive efficiency and improve client experiences in a more sustainable way.

Unlock attendees were able to see first hand key PracticeOS features, including:

• Project and time management – Track time and manage project progress in real time, giving firms visibility into resource utilization, project budgets, and timelines to improve profitability.
• Engagement letters – Simplify the creation and management of engagement letters with customizable templates and e-signature capabilities, ensuring compliance and improving client onboarding efficiency.
• Billing and AR management – Centralized invoicing and accounts receivable processes to ensure accuracy, accelerate collections, and provide real-time insights into firm financial health.

"Launching PracticeOS at our 3rd annual user conference, in front of 160+ customers, CPA professionals, and partners, made this moment even more impactful," said Justin Adams, CEO at Aiwyn. "We're providing a critical platform that will close the gap between the outsized demand firms face and the decline of CPAs entering the workforce. The efficiencies gained by implementing PracticeOS make it possible for firms to drive productivity at scale."

The Transformation Blueprint that accompanies PracticeOS provides firms with a strategic roadmap to implementing this technology effectively. It’s not just a new system—it’s a guided transition to a more efficient and modernized operation. Whether firms are looking to improve billing processes, enhance client communication, or streamline their operational workflow, PracticeOS is positioned as a central hub that brings together all these critical functions into a unified experience.

Unlock Presentations

Unlock 2024 delivered actionable strategies from leading accounting professionals on key topics like industry trends, firm growth, and operational excellence. Topics covered include:

Opportunities that Exist Due to Industry Disruption

Bob Lewis, President at The Visionary Group, discussed how the accounting profession is being reshaped by private equity investments, which offer new opportunities for growth and succession planning:

• Evaluate options – Firms must assess their strategies and align them with long-term goals
• Focus on succession planning – Ensure smooth transitions and future stability.
• Strategic pricing and client upscaling – Implement approaches to drive sustainable growth and maximize profitability.

Dos and Don'ts of AI Implementation and Change Management

The "Dos and Don'ts of AI Implementation and Change Management" panel featured industry leaders Solon Angel, CEO at TaxPay, Levi Morehouse, CEO at Taxa, and Larry Hasson,  Director at McIntyre & Associates, offering practical advice for accounting firms adopting AI:

• Start small – Focus on specific AI use cases that provide tangible value, rather than trying to implement everything at once
• Automate repetitive tasks – Automate routine tasks to free up staff for higher-value work
• Ensure data quality – Clean, well-structured data is essential for successful AI implementation
• Augment, don’t replace – AI should enhance, not replace, human expertise

Future of the Profession

Industry leaders Jim Boomer, CEO at Boomer Consulting, Michael Horwitz, Executive Director at BDO Alliance USA, and David Wurtzbacher, Founder and CEO at Ascend, highlighted the transformative impact of AI, machine learning, and automation on the future of accounting. Key takeaways include:

• Firms that adopt new technologies early will gain a competitive edge through more efficient, data-driven decision-making
• Leveraging private equity resources can accelerate growth and provide access to advanced technologies
• Subscription-based and outcome-driven pricing models are replacing traditional hourly billing, and firms that adapt will better meet client demands for transparency and value

CRM Best Practice Panel

Leon Grassi, CMO & Head of Business at SAX, Nicholas Holland, VP of Product at HubSpot, Brendan Walsh, CEO at Mole Street, and Pat Morrell discussed the importance of a robust CRM system in improving client interactions, service, and data-driven insights:

• Align CRM with firm goals – CRM should be a strategic initiative, not just a tech solution
• Leverage AI – AI-powered chatbots can automate client communication and enhance service efficiency
• Predictive analytics – Use AI to identify cross-selling opportunities and drive business growth

Using Lean Thinking to Unlock the Potential of Centralized Billing

Michael Wherry, Co-Founder and CEO at Transformity Solutions, explained how lean thinking can unlock the potential of centralized billing in accounting by reducing waste and boosting productivity:

• Value stream mapping – Visualize billing processes to identify inefficiencies and areas for automation
• Process standardization – Ensure consistency and improve knowledge sharing across the firm

Winning + Learning: Creating Professional Success Without Personal Sacrifice

Lauren Baptiste, Burnout Coach at Acheloa Wellness, shared strategies for balancing professional growth with self-care, focusing on key practices for sustainable success:

• Set boundaries – Establish clear limits to maintain work-life balance
• Practice mindfulness – Use techniques like meditation to manage stress and improve focus
• Cultivate a growth mindset – Embrace continuous learning and personal development for long-term success

How to Accelerate Firm Success [All Conference Roundtable]

Donny Shimamoto, Managing Director at IntrapriseTechKnowlogies, facilitated a platform for accounting professionals to share growth strategies and best practices, focusing on key areas for success:

• Identify knowledge gaps – Seek advisors and resources to stay ahead in the evolving accounting landscape
• Tailored growth strategies – Focus on client acquisition, talent management, operational efficiency, and emerging technologies
• Foster continuous learning – Encourage a culture of innovation to navigate industry complexities and capitalize on new opportunities

A transformative vision for accounting firms

Unlock 2024 brought together accounting professionals and firm leaders to explore emerging technologies, strategies, and industry trends. At the forefront was Aiwyn's launch of PracticeOS, a comprehensive platform designed to streamline operations and enhance client interactions, positioning firms to thrive in a rapidly evolving landscape.

More than just a technology showcase, Unlock 2024 provided practical strategies for accounting firms to adapt to the shifting landscape. Panels discussed topics ranging from private equity’s influence on growth and succession planning to the transformative role of AI and automation in the profession. Attendees learned how to implement tailored growth strategies, manage AI adoption, and foster continuous learning and innovation within their firms. 

See a demo of PracticeOS and keep an eye out for Unlock 2025!