Canopy Adding ChatGPT to Craft Emails for Accounting Practices

Canopy is preparing to add ChatGPT to its accounting practice management software.

The generative artificial intelligence (AI)-powered functionality will be released to select customers in beta mode on Wednesday (April 26) and is expected to be made available to all customers in May, Canopy said in a Friday (April 21) press release.

The new functionality will be focused on helping accounting practice staff write emails. It will do so using keywords and a level of formality specified by the user and will allow for corrections and rephrasing, according to the release.

“AI is shaping our future and it will continue to transform the accounting profession,” Canopy CEO Davis Bell said in the release. “Adding AI inside of Canopy to increase email efficiency is a simple step with a lot of potential for making accounting firms more productive.”

After adding the AI-powered email crafting functionality, Canopy plans to continue adding AI and leverage it in every module of its software for other workflows and areas, according to the press release.

Canopy’s cloud-based software suite includes tools for client management, document management, workflow, time and billing, and compliance.

“Advancements in AI technology make it easier than ever to automate simple tasks, like writing an email, giving back time to accountants to focus on specialized work,” Canopy Chief Product Officer Shane Westra said in the release. “Our goal has always been to give accountants the firm they’ve always wanted, and through this email integration with ChatGPT, and forthcoming AI enhancements across the Canopy platform, we are enabling that.”

This announcement comes on the same day that it was reported that enterprise application software company SAP plans to add ChatGPT and other AI tools to its products and launch them next month.

SAP CEO Christian Klein told Reuters that the firm had built more than 50 use cases embedding AI with its technology.

In February, ChatGPT creator OpenAI and Bain & Company formed a global services alliance in which they will partner to help enterprise clients realize the value of AI.

The firms said at the time that the potential use cases include providing scripts for contact centers, developing ad copy for marketers and generating digital communication for financial advisers.