Numeric

Our team loved collaborating with the Mercury team on how start-ups can build out a month-end close process 👏

Most people really like don't like their ERP. Useful, yes. Easy to use, typically no. Part of our goal is to help accounting teams do more of their work directly in Numeric and all within one tab. So it's great to hear from customers that they open Numeric each morning. And don't have to waste time or energy dealing with their ERP. "𝙉𝙪𝙢𝙚𝙧𝙞𝙘 𝙝𝙖𝙨 𝙗𝙚𝙚𝙣 𝙖 𝙨𝙖𝙫𝙞𝙤𝙧 𝙩𝙝𝙚 𝙥𝙖𝙨𝙩 𝙮𝙚𝙖𝙧 -- 𝙄 𝙝𝙖𝙫𝙚 𝙞𝙩 𝙤𝙥𝙚𝙣 𝙖𝙨 𝙖 𝙩𝙖𝙗 𝙚𝙫𝙚𝙧𝙮 𝙢𝙤𝙧𝙣𝙞𝙣𝙜. 𝙎𝙞𝙣𝙘𝙚 𝙄 𝙘𝙖𝙣 𝙥𝙪𝙡𝙡 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩𝙞𝙤𝙣𝙨 𝙩𝙝𝙚𝙧𝙚, 𝙄 𝙡𝙚𝙜𝙞𝙩𝙞𝙢𝙖𝙩𝙚𝙡𝙮 𝙙𝙤𝙣'𝙩 𝙙𝙞𝙜 𝙞𝙣𝙩𝙤 𝙤𝙪𝙧 𝙀𝙍𝙋 𝙖𝙣𝙮𝙢𝙤𝙧𝙚."

Looking forward to getting into the tactics of AI & accounting later this month

Perfecting the close process is a bit of a paradox. How so? Consider that the best and worst close processes actually look quite similar.  The slowest closes drag on all month. Then teams cut down the days to close from 20 to 15 to then a coveted BD 7. Whittling down to that BD 3 or BD 5 close, however, becomes tricky — to achieve this brevity, teams have to literally expand their close across the month (again). This doesn't mean there's more work involved, instead, you're distributing the same work a bit more evenly across the month. This approach of “smoothing out” your month-end close can actually save your team time & reduce close-related stress.  Schoolchildren know this principle all too well – why cram for a test a night or two before when you can study more effectively by doing a little bit everyday? Want to put this idea into practice? Here’s how: 1. Identify areas in your month-end close checklist that could be optimized by implementing an ongoing check. For teams on Numeric, this typically involves putting in place their first set of transaction monitors to catch items like transactions without a vendor and other anomalies in real-time. 2. See what tasks can be completed pre-close given when it’s possible to do them. Ex. If payroll can be squared away well in advance of the month-end, getting a head start there clears the way for tackling bigger tasks later on. 3. Push predictable reconciliations to the pre-close period. Ex. For many companies, lease accounting tends to be fairly straightforward month-to-month. Try automating that reconciliation ahead of close and monitoring for changes at month-end.

Andreessen Horowitz agrees that AI will play a huge role in accounting & released an Accounting x AI Market Map including Numeric. 𝗪𝗵𝗲𝗿𝗲 𝗱𝗼𝗲𝘀 𝘁𝗵𝗲𝗶𝗿 𝘁𝗲𝗮𝗺 𝘁𝗵𝗶𝗻𝗸 𝘁𝗵𝗮𝘁 𝗔𝗜 𝗵𝗮𝘃𝗲 𝗮𝗻 𝗶𝗺𝗽𝗮𝗰𝘁? - Data Collection & Ingestion - Technical Accounting Research (we certainly agree with Numeric’s Technical Accounting AI 😎) - Report Generation & Filing - Client Service & Advice But AI can’t do everything — accountants will continue to play a critical role. Specifically, Andreessen Horowitz calls out that LLMs “are adept at summarizing research, answering questions, and delivering information that gets their prompter ~70% of the way to a definitive result. What they lack (for now!) is the ability to do complex calculations and quantitative analyses — two skills crucial to the accounting profession.” Grateful to mentioned as leading the charge with Accounting AI along with Column Tax TaxGPT Trullion Pilot.com Canopy Fieldguide Karbon UpLink Anrok Ember Teal and others

“How are accountants 𝙖𝙘𝙩𝙪𝙖𝙡𝙡𝙮 using AI?” There’s a lot of buzz out there related to AI and accounting. So we’re hosting a webinar with Sowmya Ranganathan from the OpenAI team to get into the specifics. We’ll cover: - How Controllers & Finance leaders should think about where to start integrating AI into their team’s work - The exact processes, tools, & prompts that teams are using - What AI means for the role of an accountant now & in the future Register here ➡️ https://lnkd.in/gPRpZweX

As Public.com began to scale, they worried about how their accounting team’s close process could keep up with the company’s growth. Now, with Numeric, they’ve built a better and faster close that crushes complex accounting workflows while still maintaining seamless team collaboration. When it came to getting started, Senior Accounting Manager Mary Caiello states, “We didn’t have to do much. [Numeric] really did all of the configuring, we got the email to sign up for our accounts, and we moved from there. It was really, really easy…Numeric took a lot of the load off our shoulders.” Read more on how Public.com built a month-end process for scale with Numeric: https://lnkd.in/gEWiY-_k

"We are at the precipice of the next big change in accounting. AI is going to transform the accounting business." In this conversation with CEO of Numeric, Parker Gilbert shares his insights into the future of accounting and the transformative impact of AI. Watch the full interview from Foresight 2024.

Justin Chang recently joined our engineering team as we accelerate building features that take work off of accountant's plates 🚀 Why'd he join the team? "What excites me about what we're doing at Numeric is the chance to make a lot of people's lives/daily workflows a lot easier. It struck me how every company needs accounting but the current close process, tools, etc. require so much painful busywork. I'm excited to build a truly user-friendly solution & allow accountants to instead focus on the fun stuff." Resonate with you? We're hiring on our engineering, sales, and solutions teams. https://lnkd.in/gVTSbaKa