The advance of AI begins in a new era, one that is transforming how to manage a small successful company.
As an accountant or accountant, thesis developments provide a new opportunity to shape how it serves their clients and become a promoter of their commercial success.
To demonstrate the potential of the AI, we ask the founder of Coffee Grind, David Abrahamovitch, who shared the many ways in which he uses it.
From empowering your finance team, to improving the way you work with your accountant.
Listen to your story here:
This article will discuss some of the key advantages of generative AI and automation, and how they can help you render faster and a higher level.
The daily routine
You arrived late last night chasing spreadsheets.
You woke up with the emails of ping, the monthly closure is already dragging.
Your client has a potential inverter interested in arriving early.
You need data of a few months to show it, so it remains late, joining all spreadsheets to write a convincing report to send all interested parties.
Providing guidance on your clients’ finances means that everything is in you, from the management of small crises, to the creation of the knowledge of the general panels.
With that, a surprising amount of manual administrator comes.
From the collection of invoices to the writing of reports, you need access to information that changes daily, sometimes per hour.
Your relationship with customer account is essential for this process, if they delay the sending of any information you need, you can miss the deadlines and contaminated reputation.
That is where AI and automation can intervene as two tools that can increase its productivity to take it from stressed to the strategic master mind.
Become a strategic power
You have heard the big promises on how AI is the future for small businesses; You have seen those impressive demonstrations.
But what can specific commercial finance models do to help you manage the finances of your most effective customers in the real world?
And when there are more than only great ideas at stake, how do they fit automation and generative AI?
While automation facilitates life car Process steps to obtain it from point A to point B faster and with less error, the generative AI is its pocket assistant, proactively bringing your attention and helping you to boost the strategy.
They work better together, in synergy.
This is what the automation of advantages could contribute to its practice:
- The automation consolidates several manual steps and removes them from their list of pending tasks. For example, the software could compile all your client’s invoice data in a report, something that would normally have to do manually, but this is done automatically.
- Invoices can easily be recorded and ordered, shaving hours of time outside its monthly closure.
- Or, it could help theirs to the late payers of CSE, for example, since the automation is responsible for email reminders after invoices that reach 10, 20 or 30 not paid days.
For David, the change to use both, came when he realized that the generative AI could improve how he works with his accountant.
“I realized that I could take that information or way that the accountant needed it, and ended only 50 or 60 individual pdf.” He used AI to consolidate everything he needed: “In 2 minutes, I had [it] Perfectly formatted, I thought, okay, wow this is incredible! ”
This gave him the load of his accountant and cooled them to turn to focus on a more significant work.
While automation can channel the data to the right place, the generative AI can:
- Analysis
- Add any relevant external entrance
- Give you ideas
- Suggest contributions to your strategy
- Automatically compile reports based on history or the above need
This places it in the heart of your client’s strategy, because it arrives prepared with updated data.
His role as a trust advisor is supported by the speed and agility that has access to the current state of the game.
To obtain the best of both tools, you must choose a financial management system that integrates both, this creates a single source of truth, essential by guaranteeing compliance and risk management.
Having this in one place will raise your customer support to the next level, which will allow you to be proactive and strategic.
What really do generative AI and automation for their practice?
Generative AI and automation can work together to consolidate financial data efficiently, which will reduce its administrative load for hours, if not days.
To do this, consider the following:
- Make sure your AI software understands specific standards, ideas and your industry, since not all tools will adapt to the financial sector.
- Find the financial management software that has integrated AI capabilities and automation so that you can obtain the double benefit of both.
Some examples of AI and use of automation in their day to day would be:
- Asking the AI that analysis of your client’s commercial finances and creates a prognosis report.
- AI tells you if there is something strange about your accounts payable or the accounts receivable process, since it is always executed in the background, day and night, monitoring the transactions.
- The AI could tell you if you need to follow certain compliance procedures in a new country that your clients are about to sell, so it can use the correct accounting standards.
Focus your free time
Instead, dealing with the manual administrator of your customers’ financial data, the thesis of subcontracting of the thesis multiple time training steps for AI and automation will already give your finance equipment more time.
Time you can use to build relationships, explore new ideas and find new ways to develop your practice, even when you are growing fast.
Consolidating the financial data of its customers makes it accessible in one place and gives it a technology that works for the specific needs of its customers.
With your new free time you can:
- Improve other areas of your practice
- Explore a broad overdue vision for the financing of the AT-A-Glance client
- Enjoy access to all details on a few clicks
- Tasks delegate easier with multilevel access and custom reports
- Reposition your skills as strategic instead of manual
David continues: “Once you go through the process of linking all these systems and bringing it to a large database, the opportunities that you can then go and interrogate that the data is surprising.”
The next stage to consider
The ideas of the ACCOUNDEX event this year in London show how generative AI and automation are new forms of work.
These technologies are redefining accounting in the AI era, which will continually expand in the coming years.
Explore it now will not only allow you to see immediate benefits, time savings and get better ideas, but will deliver the ability to be an agile practice, even as it grows.
David has seen the real benefits of using generative tools of AI and automation, even within their own finance team that now have more time to concentrate on creatively resolving commercial problems and strengthening relationships.
“Then they can spend their time associating with other parts of the business and looking at the data instead of producing them, or getting involved in too much administrator.”
Final thoughts
As an accountant, the generative AI and automation tools can accelerate data production and execute more efficient financial management processes than can do on your own.
To discover what AI and generative automation can do for its practice and the client’s finances more depth, register in the last bulletin or explore tips and ideas for accountants and finance equipment here.
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