Wiss and Basis Enter Strategic AI Partnership

Accounting

On Sep 11, 2024

Florham Park-based CPA firm Wiss has announced a strategic partnership with Basis, a leading AI platform for accounting firms. Basis will be deployed across the firm to enhance efficiency, reduce risk, and improve the quality of work-life balance for accountants.

Basis utilizes cutting-edge artificial intelligence, including “generative” AI and language models built specifically for extremely high accounting performance, to streamline workflows across the firm. Wiss began testing Basis in beta for their Client Accounting Services (CAS) practice in November 2023. The successful results have led to a full deployment across the practice.

“Basis offers a unique capability to fully automate accounting workflows with extremely high accuracy in a way that not only frees up our team but drives the bottom line,” added Wiss Partner, Paul Ursich. “We are a Microsoft firm – we have a private Wiss ChatGPT instance with firm data and have found Copilot useful – but Basis’ capability for integrated, end-to-end automation is transformative.”

“We see AI as an enormous resource to help us provide a better experience for our people and clients,” said Paul Peterson, partner-in-charge, Wiss. “It will allow Wiss to provide a much more meaningful and insightful experience where we will focus our time on higher- level activities that our people find more stimulating and our clients more valuable.”

“Basis is a game-changer because, unlike normal automation, it can truly understand the work it’s performing and adjust to different situations,” said Wiss Partner, Mike Castle. “Our initial tests showed enormous potential for Basis to reduce the amount of manual work within the practice while providing an even higher quality experience for clients. The leadership team was eager to roll this out to all clients as quickly as possible, recognizing this as a key enabler of scaling our CAS service line for future growth.”

This partnership will give Wiss a significant competitive edge in the market, blending the firm’s long-standing reputation for quality and expertise with the most advanced AI accounting technology.

Internal adoption of Basis has increased rapidly month-over-month, and other practice areas are eager to introduce it to their workflows. As a result, the firm is strategically prioritizing its implementation across departments.

Matt Harpe, CEO of Basis added, “Wiss is a visionary partner that understands how this technology will elevate both value to clients and experience for employees. Wiss is exactly the kind of forward-thinking firm where I would want to work. We think Basis will be a major differentiator for the firm and are excited for many years of partnership to help propel the firm to new heights!”

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