Keith DeMatteis

About Keith DeMatteis

Keith DeMatteis is a NY-based accounting executive with a diverse range of experience within the financial services industry. Keith received his bachelor’s degree in accountancy from Villanova University, later becoming a Certified Public Accountant and receiving his financial planning certificate. Throughout Keith DeMatteis’ time within the space, he has served in roles such as Audit Manager, Controller, consultant, and Executive Director.

In addition to Mr. DeMatteis’ endeavors within the financial industry, he has experience within the construction and real estate industry working as a team leader with a hand in developing award-winning projects across the New York City area. Keith is also the director of his family’s foundation that supports charities throughout his local community.

Keith’s experience as an accounting professional is underlined by a profound interest in staying on the cutting-edge of industry processes, trends, and technologies to yield results for his organizations and collaborators. Keith DeMatteis is recognized by colleagues and partners within the industry alike for his skills in management, administration, project management, and his penchant for utilizing comprehensive financial technology to maximize impact.

Keith DeMatteis on Accounting Trends for 2023 and Beyond — How Are Accountants Adapting to the Everchanging Financial Landscape?

One of the most interesting aspects of the accounting industry is that it is in a constant state of evolution as professionals find new ways to leverage comprehensive technologies, refine their practices, show their commitment to clients, and ultimately remain up to date on the latest trends.

Mr. DeMatteis mentions that it is crucial for professionals, institutions, and clientele alike to keep up with industry trends because it empowers more informed decisions and success in their financial endeavors.

Here, Keith DeMatteis explores a few trends leading the way in 2023 and beyond as well as how these developments are impacting the industry moving forward.

Accounting Software Continues to Improve

Financial software is nothing new for the accounting industry, but the speed that it is being developed, refined, and harmonized is greater than ever before. As financial software improves, so does its ability to be customized to the needs of institutions. For example, small businesses can leverage software that assists with managing cash and spending, processing payroll, and keeps track of their billing and invoicing information. Larger companies can see success through software that better enables scaling, compliance, and the measurement of important analytics for investors and industry partners.

Implementation of Cloud-Based Accounting Systems

Accounting is becoming increasingly digital over time. Naturally, there are a few considerations for firms as the implementation of digital channels increases. One of the most pressing is security as tax ID numbers, reports, credit card details, etc. that are included in accounting systems contain confidential information that can cause a host of issues if leaked. Scammers know this, and there has been a rise in cyberattacks over the course of the past few years, undoubtedly impacting companies’ retention, growth, and even reputation.

Cloud-based accounting systems take the multiple considerations of digitization in the accounting field to heart and protect databases, storage, software, and servers against cyberattacks through increased security. Admins can set rules and protections and add a layer of security against cyberattacks that can lead to fraud, data theft, and related issues.

The Growing Role of Artificial Intelligence (AI)

Many professionals who work within industries that leverage technology know that artificial intelligence (AI) is here to stay and is continuing to grow in popularity. Accounting institutions are having success using AI and robotic process automation (RPA) to manage some of their tasks that may be repetitive or time-consuming for their teams. A few examples include reconciliations, report generation, chatbots, and data entry. As the field continues to use artificial intelligence to streamline certain tasks and the technology improves, many expect that its role and applications will expand even more over time.

The Rise of Outsourcing

Gone are the days when most businesses handled all of their accounting needs inhouse. Instead, both small and large businesses are relying more and more on outsourcing and third parties to ensure that their processes remain tight and tailored to their financial needs. SME’s value outsourcing in part because it empowers them to keep their staff small and manageable, while larger firms may use third parties for processes such as accounts payable to save on their bottom lines. Third-party accounting services have their place in a variety of industries because they can be used as information resources, can effectively track transactions, and can even build new, effective systems on institutions’ behalf.

Increased Focus on Sustainability

Sustainability has been having a profound impact on a variety of industries over the past few years, and accounting stands as no exception. In 2023, experts have seen a profound growth in focus on sustainability as companies look to monitor the environmental and social impacts of their operations. This is especially the case as businesses are being held accountable for their sustainability processes and have had to ensure that there are steps in place to monitor, measure, and report metrics through sustainability accounting. Keith DeMatteis speaks to how sustainability accounting is extremely valuable for companies tracking and reporting their environmental, social, and governance performance.

For More Content Inspired by Keith DeMatteis’ Insights
This website was created as a platform for readers who would like to further their understanding of key concepts linked to Mr. DeMatteis’ areas of expertise. Whether you are a professional within the industry, part of an institution that requires accounting services, a client, or simply want to learn more about the field and its processes, this site has you covered!

Future posts will include information on a wide range of topics such as:

• Financial Services
• Professional Development for Accountants
• Financial Technology (Fintech)
• Personal Finance Trends and Tips
• Financial Services Industry News
• Charitable Organization and Volunteer Resources

If you would like to access high-level resources linked to the financial services industry, professional/personal development, and more, be sure to check this site frequently for informative content inspired by the insights of Keith DeMatteis.