Automation and AI are more than just tech trends—they’re revolutionizing accounting firms by boosting efficiency, accuracy, and client service. For firms looking to stay ahead, embracing these technologies is becoming essential to remain competitive and prepared for the future. With 73% of accounting firm leaders still not using AI, now is the time to make the shift.
Download The Basics of Automation and AI in Accounting white paper for practical insights that can help your firm build a lasting, future-ready approach.
The 3 pillars of successful AI and automation adoption
A successful transition to AI and automation doesn’t just rely on new tools; it’s about building a foundation around three essential pillars: people, process, and product. Each plays a role in the integration process, and each pillar must be thoughtfully addressed for AI and automation to make a meaningful impact for your firm.
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People: Building a tech-savvy culture is essential. This means engaging team members across all levels to understand the value of automation and AI. Transparency and open communication help ensure team buy-in and alleviate concerns about the impact on roles and responsibilities. Encouragingly, 69% of accountants believe AI has a positive impact on the profession.
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Process: Automation can't simply replace existing workflows—it should optimize them. Identifying where automation will provide the most value is a critical first step, whether it's minimizing repetitive tasks, enhancing reporting accuracy, or creating seamless client interactions. In fact, about half of all tasks U.S. workers perform could be completed faster by generative AI without losing quality.
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Product: Selecting the right technology is about alignment. The tools should match your firm's goals, integrate with existing systems, and be adaptable to your evolving needs. Ensuring compatibility and scalability is essential to support future growth. Currently, only 8% of tax firms identified as using GenAI technology, with 13% planning to use it soon.
Elevate client experience with automation
With AI and automation, firms can take client service to a new level by providing more responsive, personalized interactions and reducing wait times:
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Enhanced communication: AI-powered tools can automate regular client updates and provide real-time status information, allowing clients greater transparency and reducing the need for back-and-forth communications. According to McKinsey Digital, companies that implement AI-driven communication tools report a 30% decrease in time spent on repetitive client interactions, resulting in a 25% increase in client satisfaction due to enhanced transparency and faster response times.
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Self-service portals: Clients increasingly value 24/7 access to documents, status updates, and information, which self-service portals can provide, streamlining their experience and reducing the burden on your team.
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Accuracy and speed: Automating repetitive tasks like data entry not only improves accuracy but also accelerates workflows, allowing teams to focus on high-value client engagements. This is particularly important considering that AI can detect 90% of accounting errors before they become significant issues.
Create a roadmap to automation success
Integrating automation and AI requires careful planning, from assessing data quality to setting achievable milestones. Building this roadmap is essential to create a phased approach that maintains clarity and direction as your firm transitions. This aligns with the fact that 86% of accountants expect technology to drive their firms' growth.
For accounting firms exploring these transformative tools, The Basics of Automation and AI in Accounting white paper offers a deep dive into building a sustainable approach to AI and automation.
Download the white paper to access insights for guiding your firm’s journey.
