Partnering for Progress: How CLA Supports Small Business Growth through Innovation
At the EC, we’re proud to work alongside organizations like CLA who are championing innovation for entrepreneurs and small businesses. In this article, CLA, our trusted Accounting Growth Partner, shares how they’re helping business owners—including those here in Nashville—use technology to scale smarter and operate more efficiently.
Investing in the Future: CLA’s $500 Million Commitment to Technology and AI
Cutting-edge technology—including artificial intelligence (AI), automation tools, and enterprise resource planning systems—isn’t just for big businesses anymore.
CLA believes so strongly in democratizing digital it’s made a $500 million investment in technology and AI. That includes the 2024 acquisition of Engine B, a next-generation AI-driven technology company specializing in delivering generative AI solutions. Integrating the Engine B technology into CLA will allow us to better harness data and drive additional value to our clients.
CLA is leveraging digital tools used by some of the most inspiring technology companies in the world for the benefit of emerging markets, community organizations, and entrepreneurs. CLA’s investment in technology and AI includes creating proprietary AI and data management systems the firm plans to use both internally and offer to clients, including those right here in Nashville.
Digital transformation: A small business case study
CLA worked with Catania Oils—a leading manufacturer of vegetable and olive oils—for years on audit and tax services. Catania had an ERP system for sales tracking and a manufacturing database, but they didn’t work together. Creating data reports was incredibly time consuming.
CLA’s digital engagement with Catania started with a digital readiness assessment. It’s a systematic approach researching opportunities inside an organization’s data and processes to uncover initiatives with the greatest ROI.
CLA aggregated Catania’s disparate systems and spreadsheets into one central location. Now the company has easy-to-view dashboards which senior leaders use to view real-time data to make more accurate business decisions.
“What we’re building with CLA in our digital platform is the ability to have all of our data real time to be able to see what we’re doing financially as things post that day, as opposed to seeing it two weeks after a month end,” Catania Oils CFO Mike Coutu says.
How digital is transforming operations for small
businesses
CLA is a top 10 U.S. accounting firm and one of the country’s leading professional services firms, with more than 130 offices, including right here in Nashville.
Unlike other large accounting firms, CLA specializes in working with privately held businesses and the companies, non-profits, government entities, and more that are the heartbeat of the economy. In Nashville as well as across the country, day in and day out, our professionals work with owners of small-to-medium sized businesses on everything from improving finances to impacting operations.
One of the biggest difference makers we’ve seen in transforming business operations is implementing digital tools and strategies.
Top digital tools and strategies for small businesses
So, what is digital? It involves using technology for better reporting, reducing manual data entry, improving processes, and elevating your team’s capabilities and skills. And what does living in harmony with technology look like?
- AP automation — You can reduce up to 80% of manual accounts payable (AP) data entry with automation.
- Business intelligence and reporting — Using data analytics and interactive visualization can turn disparate data into actionable findings.
- Cybersecurity — Enacting a strong cybersecurity plan can help protect your systems and your data.
- ERP systems — Implementing a comprehensive enterprise resource planning system provides real- time visibility, machine learning, AI, scalability, and seamless integration.
- Machine learning and AI — Using artificial intelligence and machine learning can streamline processes, sort data, and free up your team so you can focus on more interesting and impactful work.
- Systems integration — Connect your online systems and data to save time, reduce manual data entry, improve data accuracy, and provide consistency across systems.
How CLA can help transform your business
Some of these strategies may sound challenging, costly, and time consuming, but we offer these digital tools to help organizations of all sizes.
Which of these strategies and tools might bring the biggest ROI to your organization? Our digital team can help determine which digital tools may provide the greatest impact, freeing up resources and saving time and money. Explore your many options at GoDigital.CLAconnect.com
The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting, investment, or tax advice or opinion provided by CliftonLarsonAllen LLP (CLA) to the reader. For more information, visit CLAconnect.com.
CLA exists to create opportunities for our clients, our people, and our communities through our industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.
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