How AI _ Automation Are Making Their Way to Accounting
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<strong>How</strong> <strong>AI</strong> & <strong>Au<strong>to</strong>mation</strong> <strong>Are</strong> <strong>Making</strong> <strong>Their</strong> <strong>Way</strong><br />
<strong>to</strong> <strong>Accounting</strong><br />
Artificial intelligence (<strong>AI</strong>) and au<strong>to</strong>mation are making their way <strong>to</strong> accounting, just as they are<br />
permeating all other industries. <strong>AI</strong> is getting stronger and smarter as technology evolves,<br />
becoming not just an au<strong>to</strong>ma<strong>to</strong>r but also a smart technology that can learn and draw<br />
conclusions in real time.<br />
As <strong>AI</strong> continues <strong>to</strong> advance, many fear it. While the perceived threat of job extinction looms, <strong>AI</strong><br />
and au<strong>to</strong>mation can actually be extremely beneficial for accountants and finance professionals.<br />
By remaining adept and relevant in the industry, you are likely not <strong>to</strong> be replaced by robots<br />
anytime in the near future.<br />
Working with <strong>AI</strong> and au<strong>to</strong>mation, not against it<br />
Embracing advances in technology is key <strong>to</strong> remaining relevant in the industry.<br />
<strong>AI</strong> and au<strong>to</strong>mation largely take the guesswork and possibility of manual error out of everyday<br />
processing. A large chunk of accounting tasks were at one time reliant on manual data entry,<br />
which meant manual mistakes. Au<strong>to</strong>mated, cloud-based software provides a level of security<br />
and data integrity previously unknown <strong>to</strong> accountants. These are all good things.<br />
With increased accuracy and decreased time spent creating and running reports, accountants<br />
are left with time left in their day <strong>to</strong> devote <strong>to</strong> other, more strategic tasks. In fact an entire<br />
component of modern accounting relies on strategic and advisory services, and if your firm or<br />
organization has the time <strong>to</strong> devote <strong>to</strong> providing such services, you have an immediate edge<br />
over your competi<strong>to</strong>rs in the field.<br />
While <strong>AI</strong> and au<strong>to</strong>mation reduces or eliminates many of the tasks his<strong>to</strong>rically known <strong>to</strong> the<br />
accounting role, <strong>AI</strong> and au<strong>to</strong>mation free up time for accountants <strong>to</strong> become subject matter<br />
experts on the various technologies and systems available <strong>to</strong>day, providing a new level of value<br />
<strong>to</strong> clients.<br />
Additionally, there are many elements in the financial industry that remain impermeable <strong>to</strong> <strong>AI</strong><br />
and au<strong>to</strong>mation. A study cited by Business.com notes that 68 percent of clients surveyed prefer<br />
having access <strong>to</strong> a financial advisor over a technology offered as a replacement. This statistic<br />
makes it very clear that plenty of folks prefer the personal, human element when it comes <strong>to</strong><br />
strategizing and problem solving. And fortunately, machines can’t replace that.<br />
Flexi helps you embrace the future<br />
Flexi provides software that au<strong>to</strong>mates many aspects of the accounting process, freeing up<br />
your time and making sure you can close the books and provide reports in a timely manner<br />
<strong>to</strong> boot. Flexi won’t replace you; Flexi will work with you.
Learn more about partnering with Flexi <strong>to</strong>day. Call 800-353-9492.
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