AI for Accounting and Finance Blog

The Future of Automating AP and Accounting in General

Posted by Alexander Hagerup on Oct 30, 2019 8:42:00 AM

When thinking about the future of automating accounts payable, how would your daily routine change if you were able to leverage AI to fully automate bookkeeping and pre-accounting tasks?

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Topics: Accounting

What Accountants Can Expect When Getting Started with Vic.ai

Posted by Alexander Hagerup on Oct 16, 2019 8:04:00 AM

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.

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Topics: Accounting

Evaluating Accuracy and Time Savings

Posted by Alexander Hagerup on Oct 2, 2019 8:06:00 AM

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.

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Topics: Accounting

Working with Similar vs. Different Kinds of Clients

Posted by Alexander Hagerup on Sep 18, 2019 8:48:00 AM

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?

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Topics: Accounting

Experience with Vic.ai

Posted by Alexander Hagerup on Sep 4, 2019 8:37:00 AM

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.

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Topics: Accounting

Investing in the Right Automation:  Rules vs. Machine Learning

Posted by Alexander Hagerup on Aug 21, 2019 8:42:00 AM

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.

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Topics: Accounting

The Changing Role and Skills of Accountants

Posted by Alexander Hagerup on Aug 7, 2019 8:18:00 AM

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?

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Topics: Accounting

Should You Offshore Outsourced Accounting?

Posted by Alexander Hagerup on Jul 24, 2019 8:08:00 AM

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.

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Topics: Accounting

How Accounting is Being Challenged By Technology and New Forms of Competition

Posted by Kristoffer Roil on Jul 10, 2019 8:57:00 AM

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.

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Topics: Accounting

Why Accountants Invest in AI

Posted by Alexander Hagerup on Jul 3, 2019 9:10:00 AM

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.

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Topics: Accounting, Artificial Intelligence

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