Will AI Have an Impact on Accounting?

<strong>Will</strong> <strong>AI</strong> <strong>Have</strong> <strong>an</strong> <strong>Impact</strong> on Accounting?
Artificial Intelligence (<strong>AI</strong>) is a much buzzed-about concept in modern accounting. M<strong>an</strong>y
account<strong>an</strong>ts fear that automation will be the end of the accounting profession as we know it.
Others are embracing the ch<strong>an</strong>ge.
<strong>Will</strong> <strong>AI</strong> have a lasting impact on accounting?
The <strong>an</strong>swer is yes--but maybe not in the ways you might think.
It is no surprise that accounting is on a fast track toward automation. Some ways in which
automated, cloud-based software solutions are ch<strong>an</strong>ging the name of the accounting game
include:
● No paper, <strong>an</strong>d no m<strong>an</strong>ual errors
● Real-time fin<strong>an</strong>cial updates--whenever <strong>an</strong>d wherever needed
● Continuous control
● St<strong>an</strong>dardized workflow with built-in approvals
● Mobile access to fin<strong>an</strong>cials through <strong>an</strong>y device
● Visualization tools with real-time visibility of every tr<strong>an</strong>saction <strong>an</strong>d complete audit
trail
<strong>AI</strong> is creating <strong>an</strong> accounting l<strong>an</strong>dscape that prizes fast period closes, 24/7 mobile access,
<strong>an</strong>d enh<strong>an</strong>ced data integrity. While the traditional account<strong>an</strong>t may have spent weeks
crunching numbers to close the books, <strong>AI</strong> enables a faster period close--awarding time back
to busy accounting teams. And while some fear that this time back will equate to layoffs, it
has become increasingly clear that additional roles--like strategy <strong>an</strong>d advisory services--are
being requested, if not expected, from account<strong>an</strong>ts.
According to a study cited by Pymnts.com, small businesses are frustrated that b<strong>an</strong>ks aren’t
providing the advisory services they need, <strong>an</strong>d are increasingly relying on their account<strong>an</strong>ts
to provide these services. And while businesses are seeing <strong>an</strong> increase in automation,
cloud-based solutions, <strong>an</strong>d blockchain, <strong>AI</strong> may be disrupting the traditional workflow of
businesses, but isn’t disrupting the employment of account<strong>an</strong>ts in the way that it has been
posited <strong>an</strong>d feared thus far.
Where does Flexi fit in?
Flexi delivers all the benefits of the cloud--speed, perform<strong>an</strong>ce, low cost--while keeping your
core general ledger data secure. That’s just one of the m<strong>an</strong>y reasons why Flexi has been
the fin<strong>an</strong>cial m<strong>an</strong>agement software of choice for fin<strong>an</strong>cial professionals around the globe.
Flexi’s 25+ years of experience includes deep knowledge within industries such as b<strong>an</strong>king,
insur<strong>an</strong>ce, <strong>an</strong>d fin<strong>an</strong>cial services where security, compli<strong>an</strong>ce <strong>an</strong>d speed are paramount.

<strong>AI</strong> is ch<strong>an</strong>ging the l<strong>an</strong>dscape of accounting <strong>an</strong>d business but Flexi is not a replacement for
hum<strong>an</strong> account<strong>an</strong>ts--it is more a tool to enable <strong>an</strong>d empower account<strong>an</strong>ts to succeed <strong>an</strong>d
provide value to the clients they serve.
Learn more about Flexi accounting software solutions, or call 800-353-9492 to set up a demo
today.