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How the Right AI Can Make Your Accounting Firm Better

Posted by Alexander Hagerup on Feb 6, 2019 8:50:00 AM
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How the Right AI Can Make Your Accounting Firm Better

The benefits of AI in aggregate will help to improve your staff, your firm as a whole, and your clients’ businesses.

The following is an excerpt from “How to Select the Right AI Platform for Accounting: A Buyer’s Guide and Comparison Worksheet.”

AI Platform Benefits

The right platform will help you:

  • Improve accuracy

  • Make fewer errors

  • Get more done in a day

  • Move your clients’ processes faster and easier

  • Automate the approval process

  • Speed up the payment process

  • Make your clients happier (better vendor relationships)

  • Make your clients’ vendors happier (faster payments)

  • Improve the daily routines of accounting staff with new-found superpowers

Much of the future of accounting technology and the public accounting business model will center around automation driven by AI and machine learning.

Retain High-Growth Clients Longer

When a company is relatively small, it often outsources a significant portion of its bookkeeping and basic accounting to an accounting firm. When the company grows larger, it will usually decide to build an in-house financial team due to the outsourced bookkeeping and accounting:

  • Becoming too expensive

  • Isn’t responsive enough

As companies grow larger, they need more frequent feedback. When their accounting firm is only delivering services once a week, or even bi-weekly or monthly, clients leave.

With the right AI platform, this situation (both the high costs and slow response time) can improve dramatically and swing the pendulum back to win/win for both the accounting firm and its clients.

 

How is your firm supporting its high-growth clients today? Share your thoughts in the section for comments below.

To learn more about selecting the right AI platform for accounting that works for you, download your copy of “How to Select the Right AI Platform for Accounting: A Buyer’s Guide and Comparison Worksheet.”

Accounting Has Changed. Is Your Firm Keeping Up? Learn How to Select the Right AI Platform for Accounting

 

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Topics: Accounting

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