By Richard Corn, CPA.
In today’s rapidly evolving tech landscape, accounting firms face a critical decision: begin strategically embracing AI, or risk falling behind competitors.
The good news is that it’s not too late for firms to begin their AI journey. A recent CPA Practice Advisor report found that only 48% of surveyed accounting firms are currently using AI for any purposes. For firms ready to move beyond hesitation and hype to embrace practical, value-adding AI uses, this represents a clear window of opportunity to gain a competitive advantage.
Through conversations with industry leaders and successful early adopters, we have identified three key insights that offer a roadmap for accounting firms to capitalize on AI’s potential while avoiding common implementation pitfalls.
AI as a Business Amplifier: Enhancing Accounting Excellence
Accounting firms that are having success with AI are not replacing accountants with AI tools. Instead, they are finding specific, practical ways for AI to amplify professional expertise. This, in turn, makes teams more effective. These tools enable accountants to handle their workloads more efficiently, cutting down the time spent on repetitive tasks such as data entry, transaction coding, and financial summarization.
By streamlining these processes, accountants can maintain productivity while freeing up valuable time for higher-level, strategic work. Randy Johnston, CEO and Co-Founder of Network Management Group, Inc., highlighted the impact of AI on his workflow: “When I compare our timesheets from two years ago to today, the efficiency gains from AI are remarkable. But the real impact isn’t just about speed – it’s about redirecting that time to deliver more value to our clients.”
Firms should begin by identifying repetitive tasks where AI can be implemented to save time and improve accuracy. However, the true value of this freed capacity isn’t just about doing more work — it’s about elevating service quality for clients. Rather than focusing solely on increasing output, accountants can leverage AI to enhance the quality of their work while maintaining efficiency. The result: a more sustainable approach to growth that benefits both the firm and its clients.
Before searching for completely new products and solutions, firms should first explore AI capabilities already available through their current technology providers. This approach simplifies and builds trust in AI adoption, as teams are more likely to embrace tools from vendors they already know and trust.
AI will Enhance Client Service
AI transforms traditional accounting services into higher-value advisory relationships. For example, firms using AI-powered analytics can now provide real-time business insights that previously required manual analysis and delayed reporting.
When it comes time to explore opportunities for enhancing client service through AI, start by identifying the client touchpoints that could be automated without compromising relationship quality. This could include routine communications, basic data analysis, and marketing materials.
Then, once the foundation has been laid, firms can take the next step: using AI-powered analytics to provide deeper insights for client advisory services. Firms leading the way on AI are already seeing results, including:
- Increasingly accurate cash flow predictions and risk assessments
- Enhanced fraud detection through pattern recognition
- Automated financial statement analysis that identifies trends and anomalies in minutes rather than hours and writes concise flux comments to explain
- Personalized client communications that maintain relationship quality while increasing frequency of contact
The AI Era Will Require Strategic Planning
While ad-hoc AI usage can be a valuable first step to test the waters, achieving lasting success requires a well-defined strategic plan. This involves moving beyond experimentation to establish structured frameworks that guide AI implementation across the organization.
Ambra Wellbeloved, Partner of Managed Services at Aprio, emphasizes the importance of this approach, noting that “having a proper strategy in place was an essential step toward using AI to further our core business fundamentals.”
This starts by carefully evaluating where AI can provide the most significant impact — which will likely be tasks that consume meaningful time, such as audit documentation and tax return preparation. This targeted approach helps firms demonstrate value quickly while building confidence in AI solutions.
Building a successful AI strategy requires several key action items:
- Creating a phased implementation roadmap, starting with pilot programs and moving through to full-scale deployment
- Developing governance structures and usage guidelines that include establishing processes for human-led quality assurance and processes for maintaining client confidentiality
- Designing training programs to increase knowledge and ensure consistent adoption across all levels of the firm
- Identifying internal champions who can bridge technical capabilities with practical applications
With internal frameworks in place, firms can turn their attention to evaluating potential technology partners. Key considerations include the vendor’s understanding of accounting industry needs and compatibility with existing systems. Perhaps most critically, firms should assess what feedback loops exist between vendors and end-users. This ongoing communication ensures continuous improvement and helps maintain service quality standards.
Conclusion
The future of accounting isn’t about choosing between human expertise and AI — it’s about strategically integrating the tools that will amplify accounting capabilities and help create unprecedented value for firms and their clients. The technology is ready, the benefits are clear, and the time to act is now.
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Richard Corn, CPA, is Director of Product Management at BILL.
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Tags: Firm Management, Technology
