Canopy Accounting Practice Management Software to Add ChatGPT for Crafting Emails
Canopy, a cloud-based software provider, is set to add ChatGPT, generative artificial intelligence (AI)-powered functionality to its accounting practice management software. It will enable select customers to access the beta version from April 26th and will become available to all customers in May. Canopy indicates that the AI tool is aimed at improving email efficiency for accounting practices. It will achieve this by using keywords and specified levels of formality, as indicated by the user. Corrections and rephrasing will also be enhanced.
Canopy CEO, Davis Bell, has expressed excitement about the move, stating that AI will continue to transform the accounting profession. The company plans to integrate AI into every module across its software for other workflows and processes, and not just with email functionality.
Canopy’s software provides various tools for compliance, document management, client management, workflow, time and billing. Integration with ChatGPT is set to ease the burden of repetitive tasks like writing emails. While the AI tool will handle simple tasks, accountants can direct their focus to specialized work. Canopy Chief Product Officer, Shane Westra, added that the company aims to give accountants the firm they’ve always wanted through AI enhancements.
Today, enterprise application software provider SAP made public its plan to add ChatGPT, along with other AI tools to its products next month. SAP Chief Christian Klein says that the technology will power more than 50 use cases in the company's products. In February, OpenAI and Bain & Company formed an alliance to offer AI services to clients with potential use cases in ad copy development, contact center scripting, and digital communication for financial advisers.
