AI for Accounting and Finance Blog

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.

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 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.

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.

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.

When staying local, businesses can find it challenging to recruit talent that’s needed to grow. This is a huge issue many firms face. Some firms have started moving to a virtual model, looking outside their local area, to recruit the right person for the job no matter where they are located. 

What does it mean for accounting firms to add value for their clients? And how does your accounting firm find the right people to support your company's mission?

Companies are all different. Even if your firm specializes in a particular vertical market, it can still take a considerable amount of time for one of your accountants or bookkeepers to learn the general ledger and the cost classifications for dozens of different clients.

• Industry: Accounting
• HQ: Kaysville, Utah (Salt Lake City metropolitan area)
• Employees: 30
• Accounting / Finance Systems: Bill.com and Intuit QuickBooks Online