Accounting High 124 Lightspeed AI (feat. Enrico Palmerino, CEO)
Episode 124 | Recorded July 14, 2022
Enrico Palmerino, CEO of Botkeeper is an automated accounting platform that uses human-assisted machine learning and AI to deliver the fastest, most accurate, and lowest cost bookkeeping available to accounting firms. He is also an investor and advisor to several business venture funds and sits on the Technology Advisory Committee & Board of Corporators at Fidelity Bank. We discuss how regretful situations can blossom into blessings from the ground up. This episode is not short of inspiration and snippets in the life Enrico and how he went from making lighting more efficient and cost-friendly to innovating in the accounting space.
4 - What do you think of Accounting High?
5 - Botkeeper: The cool kids of the Accounting Space
7 - A way to make meetings cool? Have it in the pool!
8 - I’m like my best self and that’s myself I’m putting out there, unapologetically, unfiltered
9 - We can all evolve. We're still us at our core, we're never gonna really change who we
12 - Go out, you know, take risks, make changes, make mistakes, just learn from them, but never regret the life
Shoutout to Daniel Pink’s The Power of Regret
13 - Enrico’s lose-a-car, gain-a-family story
14 - The difference on our hosts’ need for speed
Shoutout to Dawn Brolin, CPA, CFE, ThinkLite
15 - ThinkLite: Enrico’s college business turned into a multi-million dollar company
19 - Botkeeper: the back office for accounting firms
Shoutout to Byron Patrick, CPA.CITP, CGMA
22 - I was like bored, stiff, and like couldn't sit still. And then was also just feeling like I lost my identity
24 - Think like a lot of entrepreneurs: Your next game is to tackle the problem you had at the prior business
27 - So more businesses demanding accounting, fewer accountants to do it. So I'm like, aha! Light bulb moment
28 - It wasn't to be like we're replacing accountants in the accounting industry. It was that if you make one accountant, do the work of three
35 - It’s way easier to sell advisory to the existing clients you have and upsell them than it is to go and find new clients and convince them
Shoutout to James Ashford’s Untapped
37 - Unknowns are very scary for a lot of us accountants
38 - AI Unchained: Hands-on, sleeves up, get sh*t done conference. This 9/25 - 9/27 in Boston
42 - If we make firms highly efficient, standardized, next-level cloud, and they're not a Botkeeper user today, they become the best and easiest, like potential users for Botkeeper
44 - We don't necessarily know how to be good owners, managers, CEOs, people
Shoutout to Hap Klopp, Brad D. Smith Dark Horse CPAs, AICPA Engage, Joyner Lucas