Field is a newly launched accounting software that has secured $17.2 million in funding to address challenges in the tax industry, particularly labor shortages as many CPAs retire and few students are entering the profession. Co-founders Leroy Kerry and Atul Ramachandran designed Field to utilize AI to automate tax return processes while allowing human oversight. Unlike other software, Field is tailored for tax workflows and integrates directly into existing systems, aiming to reduce inefficiencies and alleviate the administrative burdens faced by tax professionals.
Kerry emphasized the urgency of the tax industry crisis, highlighting the shortage of CPAs, inefficient paper processing, and the potential of automation to alleviate these burdens.
The AI used by Field not only automates tax workflows but also integrates seamlessly with existing software, enhancing efficiency without requiring complete overhauls from firms.
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