AI for Accounting and Finance Blog

In Vic .ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants how many team members have bachelor’s degrees in accounting, how many team members have master’s degrees in accounting, and what percentage of the team are CPAs.

How is the role of the accountant changing? And what does this mean for what the accountant, bookkeeper, controller, or virtual CFO does on a regular basis?

In Vic.ai’s recent survey of Client Accounting Services and Outsourced Accounting firms, we asked participants about their team size, the average number of years on the team, along with the tenure and experience of team members.

In the accounting industry, there’s a lot of offshoring going on. Offshoring wouldn’t be necessary if you can enable a U.S.-based person with the right technology, making them more effective and more useful. With the right technology, there should be no need to outsource this type of accounting work any longer.

When companies don’t have the talent to manage their accounting or finance needs internally, they turn to an outsourced back-office solution.

These outsourced accounting options typically include CPA firms, outsourced accounting providers, bookkeeping firms, and virtual CFOs.

With technology and new forms of competition, today’s accounting firms are being challenged. It’s critical for outsourced accounting firms to have a clear vision of where they are today and in what direction they are headed.

Accountants know that it’s tough to change software. This includes the software that they use internally to run their own firms and the software that their clients use.

If you think about the benefits of AI in aggregate, that will help improve your staff, your firm as a whole, and your client's business. This is essentially how AI makes your accounting firm better.

When accounting firms are looking for the right AI or artificial intelligence platform, it can be challenging to assess the AI technology that powers the platform. So how does AI incorporate human feedback and learn from you?

88% Feel Pressure to Automate and Protect Themselves from Disruptive Changes

For Immediate Release

New York City: Artificial intelligence (AI)-driven automation will completely change and disrupt how accounting firms market and deliver their services. At a recent Vic.ai webinar on automating accounts payable, 88% of attendees polled felt that automation would play a “hugely important role” in their firm's future.