Working smarter: 3 apps for CPAs

Software applications can make work easier and faster, but assessing and researching them to find the right ones takes time.

To help with that process, the JofA connected with the moderator and two panelists for the “Rapid-Fire: Top Apps to Know” session to be held June 11 at the AICPA & CIMA ENGAGE 25 conference (pricing and registration) in Las Vegas. That 50-minute session will share nine app recommendations across three categories: productivity, training, and communication.

The JofA asked three of the panel participants to share one app each for this article. The three apps cover the three categories that will be discussed in the ENGAGE session.

Productivity app recommendation: NotebookLM

NotebookLM can be used to quickly digest complex information in an accessible format, saving you time by taking your source material and making connections between topics.

Byron Patrick, CPA/CITP, CGMA, CEO of VERIFYiQ, a tech company that markets software to automate bookkeeping, recommended the AI-powered tool. NotebookLM summarizes and analyzes information you provide, allowing you to learn efficiently on the go.

“My favorite feature is its ability to create custom podcasts, where two AI-generated hosts discuss the content in an engaging and entertaining way,” Patrick said. “I usually load something into it before taking the dogs for a walk.”

The app accepts a wide variety of formats, making it simple to use and versatile. But there’s a risk of relying on it too heavily, he added. It is not a replacement for reading and researching information.

• What NotebookLM does: The app takes source material that you upload, including PDFs, websites, video and audio files, Google Docs, Google Slides, and more, and makes interesting connections and summaries.

• How CPAs can use NotebookLM: The app identifies trends and topics, ideal for reviewing transcripts from meetings or presentations.

• Cost: The free version provides a great starting point. You can choose to upgrade based on your specific needs, with a starting plan price of $19.99 per month.

• Similar or competing apps: There’s not one that does everything that NotebookLM does. Vadoo AI and Nouswise could be considered partial alternatives.

Training app recommendation: Loom

JofA Technology Q&A co-author Wesley Hartman, founder of Automata Practice Development, a tech company that helps accountants automate repetitive tasks, recommends the screen-recording app Loom. It can be used for knowledge sharing, standard operating procedures, training purposes, and workplace communication.

Loom is a video messaging tool that helps create tutorials, product demos, and more.

• What Loom does: The app allows you to create videos from your screen, webcam, or both and then share the recording as a video message via an instant link (no download is necessary). Editing tools are available within the app.

• How CPAs can use Loom: The app allows you to produce a recorded demonstration on how to complete tasks, such as adding an accountant in QuickBooks Online or an overview of filing a client’s tax returns.

• Cost: $15 per user per month.

• Similar or competing apps: Snagit, Vidyard, and Wistia.

Communication app recommendation: Fathom AI Notetaker

Ellen Choi, founder and CEO of Edgefield Group, an AI consultancy, recommends Fathom AI Notetaker, “a seamless integration with major video call platforms.”

The app saves you time by providing automated summaries and meeting highlights. “Searchable meeting archives improve knowledge retention and facilitate client follow-up,” Choi said.

The native assistants in Microsoft Teams and Zoom offer similar capabilities, but Fathom joins meetings regardless of whether you are the meeting creator or if the platform is one that you don’t use.

“So for a CPA firm, most commonly internally, they are using Teams, but if they’re hopping on a call that is on Zoom, Fathom can follow everywhere regardless of the meeting platform, Choi said. “Also for Microsoft Teams, you only get access to meetings that you schedule, you author, and it’s part of your internal team. If you’re using it for external purposes or don’t meet the data or security requirements, then the meeting transcription [might] not work.”

Choi suggested communicating in advance of the meeting that a recording will take place and obtaining consent from the participants. This should increase the comfort level of all parties involved. It is also wise to review all summaries and follow-up items after the meeting to catch any inaccuracies.

If sensitive or confidential topics are about to be discussed, pause the recording and ask attendees who are not directly involved to step out of the meeting.

• What Fathom AI Notetaker does: The app is an AI-powered meeting assistant that joins Zoom, Google Meet, and Microsoft Teams calls, automatically recording, transcribing, summarizing, highlighting key insights, and collecting action items from meetings.

• How CPAs can use Fathom AI Notetaker: The app allows you to automatically capture and summarize internal meetings, such as check-ins, planning sessions, or team meetings, as well as client-facing calls, including advisory updates, onboarding, engagement kickoff, and wrap-up sessions.

• Cost: Free for individual users. Fathom Team Edition features enhanced security, privacy, and collaboration capabilities, starting at $29 per user per month.

• Similar or competing apps: Copilot in Microsoft Teams, Fireflies.ai, Otter.ai, Granola, and Zoom AI Companion.

Apps like NotebookLM, Loom, and Fathom AI Notetaker exemplify how AI-powered tools can optimize time-consuming tasks and workflows for CPAs.

Join the conference to hear the panel of experts at AICPA & CIMA ENGAGE 25, where you will gain valuable insights into innovative apps and discover software solutions to enhance your productivity.

— Mari Sagedal is a senior content writer at AICPA & CIMA. To comment on this article or to suggest an idea for another article, contact Jeff Drew at Jeff.Drew@aicpa-cima.com.