AI tools assist in accounting tasks

AI is increasingly used in accounting to help with tasks like retrieving invoices, reading their details, and matching them with payments. These tools can extract information such as the supplier's name, the date, and the amounts, and suggest linking them to the relevant bank payment.

Various companies offer AI-based accounting solutions

Several companies, such as Dougs, Pennylane, Indy, Tiime, Cegid, and Sage, provide AI-driven accounting tools. Some offer just the software, others provide accounting services, and some combine both. Understanding whether the company is hiring a service or using a tool is important to grasp how AI changes the accounting process.

AI extends existing document recognition capabilities

Document recognition and automated rules have been around for years. Companies like Cegid and Sage now use AI to enhance these functions, allowing the software to detect anomalies, assist in searches, or prepare analyses, extending the work it previously handled.

Companies can choose to manage their own accounting or outsource

A company can either manage its accounting internally using a tool or hire an external firm. Some firms develop their own technology, while others use tools from third-party providers. For example, Dougs combines its service with its own software, while Keobiz uses Pennylane’s tools.

AI cannot replace human judgment in accounting

While AI can identify a supplier and an amount, it may not understand the context of the expense. A professional accountant is still needed to interpret the expense, especially in cases of unusual transactions, partial payments, or missing information, which may require verification and communication with the company.

U.S. firms are developing AI for accounting professionals

In the United States, Basis is creating AI tools for accounting professionals who review the work. These tools generate proposed entries with justifications that need to be validated before being recorded. The accountant must then review and correct the proposals, ensuring that the verification process is efficient.

AI reduces the need for document handling but not all tasks

The most immediate benefit of AI is fewer documents to upload, send, and classify. However, the company still needs to provide missing documents, explain certain operations, and share information the tools cannot retrieve. Electronic invoicing can help by providing directly usable data, but questions about the content still remain.

Measuring the time saved by AI requires careful tracking

To assess the benefit of AI, it is important to track the time spent preparing documents, the number of requests, follow-ups, and problems solved over a complete month. An annual review can then determine if the tracking during the year reduces last-minute searches. The relevance of time saved depends on the specific tasks measured.

Automation allows for more efficient use of time

While automation reduces data entry, it does not automatically provide more advice. Companies can use the time saved to process more files, reduce delays, improve controls, or deepen client interactions. Employees must learn how to control the software's proposals and explain the results, which requires training.

Choosing an accounting service involves evaluating support and costs

Before choosing an accounting service, a company should consider the support available, such as remote exchanges or annual meetings. The cost of the service over a year, including software, accounting, declarations, balance sheet, payroll, legal, and advice, should also be evaluated. Different companies have varying needs based on their activity and complexity.

Comparing accounting offers should focus on practical experience

To compare offers, a company should examine a year of service, not just monthly costs. It should also consider what is included in the service, such as software, accounting, and support. The firm’s experience in the sector and its connections with existing tools can help avoid additional manual work.

Evaluating an accounting offer involves testing the process

Before subscribing, a company can start with an invoice and follow its processing until the control phase. Then, it can examine what happens when a document is missing or an error occurs. This reveals the actual time saved, the work still needed, and the quality of the service. Six key points to compare include the work included, the executive's tasks, error handling, support, annual cost, and data recovery.