AI for Accounting and Finance Blog

Competitive battles are no longer going to be fought with the ordinary tools and apps we've depended on for decades.

Fringe Advisory Uses Accounting Automation to Transform Their Practice From Transactional to Strategic

Fringe Advisory is the home of technology-focused accountants who are comfortable using artificial intelligence (AI) and machine learning (ML) in their outsourced accounting work. In short, they shun doing the “same old, same old.”

Joshua Feinberg sat down with Aaron Berson and Bella Hobbel, co-founders of Fringe Advisory, to discuss why change in the accounting profession is so hard and tips on how to leverage technologies like Bill.com and AI to make outsourced accounting more seamless for your clients’ workflows.

Is Your Accounting Workflow Painful or Delightful? (Probably Not the Latter!)

In our recent webinar, “The Future of Outsourced Accounting and Accounting Technology,” attendees were asked to describe the nature of their daily workflows. Were they fully automated? Were they painstakingly manual? 

Accounting Automation is Accelerating from 0-60

Even before COVID-19, the accounting industry was already on track to change more in the next 12 months than in the previous 12 years. Automation driven by artificial intelligence (AI) and machine learning (ML) is completely disrupting how accounting firms market and deliver their services. 

At a recent Vic.ai webinar, we asked the question: How important is accounting automation to the future of your firm? We found that 88% of attendees said automation is hugely important to their firm's future. However, historically clients have looked for accounting firms with a local or regional presence.

Early Growth Financial Services Uses Accounting Automation Bill.com to Help Them Win

Every week, Vic.ai marketing and podcast guru and host Joshua Feinberg talks to industry leaders in the accounting world to get their take on how automation, AI and technology are transforming the profession.

But more than just getting entrepreneurs and executives to talk in sound bites, he does an amazing job of getting them to open up about the hardest part of deploying technology: the specific how to's.

We recently held the webinar “The Future of Outsourced Accounting and Accounting Technology.” This virtual session helped us understand more about how accounting and bookkeeping firms use practical technologies, like automation, Artificial Intelligence (AI), and Machine Learning (ML), to future-proof their practices.

We were able to survey a wide variety of attendees on automated accounts payable challenges that arise from their firm’s degree of tech-savviness. 

The Best LinkedIn Groups for Digital Transformation Accountants

If you’re responsible for your accounting firm’s digital transformation and innovation, you’re likely an early adopter who’s always looking for new ways to engage with industry experts and share relevant news and personal updates. You may be a social media pro with a ton of connections on LinkedIn, but have you joined the right groups to best connect with like-minded individuals and highlight best practices, job openings, and milestones?

Don’t overlook LinkedIn groups, which can give an extra boost to your network and prove to be an invaluable resource, both socially and professionally. No need to join all of them though - remember, don’t overdo it. If you focus on the groups where you have the potential to add the most value, you’ll make the best connections. 

What is Vic.ai and What Does It Actually Do? 

It might be because we have a buzzword like “AI” in our company name, or because no one knows what “Vic” stands for. But let’s start with the most basic questions we get a lot: what is Vic.ai and what the heck do you guys do?

Great questions. 

Vic.ai is an AI software as a service (SaaS) platform for accounting firms. Today, we automate the time-consuming, tedious process of accounts payable (AP) using artificial intelligence (AI) and machine learning (ML), and reduce the human error factor along the way.

Vic.ai co-founders Alexander Hagerup and Kristoffer Roil at the QuickBooks Connect conference in San Jose, California.

As an automated accounting advisor and Vic.ai’s Head of Strategic Accounts, I have a bit of a strange job for someone who’s not a technologist: explaining what artificial intelligence (AI) is, how it applies to accounting, and forecasting what the future of accounting AI looks like.

Accountants Can’t Afford to Delay Client Service in the Wake of COVID-19

Last week, we polled the accounting community about the many ways COVID-19 was impacting them. Our research encompassed a wide range of firms, from independent operators and small firms under 50 employees, to companies that span over 10,000 employees.