AI for Accounting and Finance Blog

How can accounting firms get started with automation? One of the most challenging things when an accounting firm starts with artificial intelligence (AI) and automation is simply letting go and being comfortable trusting someone else to do it right.

In Vic .ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants about what other outsourced professional services their firms offer.

It’s important to understand what automation is. It’s not something that’s end-to-end where you don’t have to interact with it or think about it. Automation is removing a step or taking a piece of what you do and making it simpler, easier, and less error-prone.

In Vic .ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants about how much their CAS/OA revenue grew over the past 12 months.

As Ignite Spot has scaled with Vic .ai, they have put a group of similar clients on the Vic .ai platform. It’s easy to see how the artificial intelligence works as it learns from similar clients. But how does it work with different clients?

In Vic .ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants how their teams fit with the rest of their firms.

In this blog post, you’ll learn what percentage of each firm’s staff is devoted to client accounting / outsourced accounting, what percentage of each firm’s total revenue comes from the team, and how many clients each team has.

Raises $11M Series A Financing

For Immediate Release

NEW YORK – September 5, 2019 -- Vic.ai today announced the close of its $11.2 million Series A financing. GGV Capital led the round with participation from new investor Costanoa Ventures and seed round lead investor Cowboy Ventures. Jeff Richards, managing partner, GGV Capital will join the Vic.ai board of directors. Vic.ai plans to accelerate the growth of its team with strategic, world-class talent in engineering, product development, support, sales, and marketing.

How has Ignite Spot’s experience been with Vic .ai? It all started by trying out Vic .ai’s artificial intelligence on just a few clients and eventually scaling it out from there.

In Vic .ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants about the starting salary for entry-level positions, how many open jobs they’re looking to fill, and how difficult it is to fill entry-level jobs as well as jobs that require multiple years of experience.

AI promises to do something different than we’ve seen before. While it’s very easy for the human brain to understand a rule, machine learning is very different from a rules-based system. Machine learning is smarter because it uses big data, so it follows trends.