{"id":79286,"date":"2025-03-05T11:24:16","date_gmt":"2025-03-05T11:24:16","guid":{"rendered":"https:\/\/silverfin.com\/?p=79286"},"modified":"2026-02-16T11:56:14","modified_gmt":"2026-02-16T11:56:14","slug":"ai-in-accountancy-making-sense-of-implementation","status":"publish","type":"post","link":"https:\/\/silverfin.com\/en-gb\/resources\/ai-in-accountancy-making-sense-of-implementation\/","title":{"rendered":"AI in accountancy – making sense of implementation"},"content":{"rendered":"\n

When it comes to the future of accounting, there’s a lot of buzz about artificial intelligence, but the truth is, many firms still aren’t sure how to take advantage of it. In fact, a recent survey by Silverfin found that 44% of accountants don\u2019t know how AI could help their firm. It\u2019s a bit of a paradox. While we all know AI is changing the game, many firms are still stuck at the starting line, unsure where to even begin. <\/p>\n\n\n\n

But here\u2019s the thing: AI isn\u2019t a distant promise anymore. AI is here, reshaping accounting in ways that are already tangible and practical. It\u2019s not just about automating routine tasks. AI is about transforming how firms operate, how they communicate with clients, and how they make key decisions. From improving workflows to uncovering deeper insights, AI is paving the way for more efficient, effective, and strategic accounting.<\/p>\n\n\n\n

So, how can firms unlock the full potential of AI? That\u2019s exactly what we explored in a recent roundtable discussion hosted by Silverfin\u2019s Phil Hobden<\/a> with experts Billie McLoughlin<\/a> (Practice Consultant, 20:20 Innovation and Charles Richards<\/a> (Head of Digital Client Service, Azets).<\/p>\n\n\n\n

Meet the panel<\/h2>\n\n\n\n
\"Billie<\/figure>\n\n\n\n
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Billie is an ACCA qualified with many years experience in practice. She is now a Practice Consultant for 20:20 Innovation where she helps firms maximise software use and stay up to date with new products and features. Billie specialises in optimising software frameworks, technology, and processes with a focus on AI, ensuring firms understand the practical uses of new applications.<\/p>\n\n\n\n

Charles has over 12 years of experience in business strategy, digital technology and programme management. He has delivered major transformations for large organisations across sectors including banking, TMT, government and real estate. With a passion for improving user experience and maximising commercial value, Charles specialises in digital innovation and customer-focused solutions that drive sustainable growth and operational success.<\/p>\n\n\n\n

Navigating the Road to AI Adoption<\/h2>\n\n\n\n

Even though AI is showing a lot of promise, it\u2019s still early days for many accounting firms. Right now, firms are saving about 9% of their time using AI, but that\u2019s expected to grow. By 2028, firms anticipate saving at least 12% of their time, with some even predicting savings of over 21%. The areas where AI is making the biggest impact so far are workflow automation and compliance tasks.<\/p>\n\n\n\n

But despite its potential, many firms are still hesitant about diving in. According to Silverfin\u2019s research, 28% of firms are concerned about data security, while another 28% are simply resistant to change. Budget is another hurdle\u201424% of firms point to limited funds as the reason they haven\u2019t adopted AI yet.<\/p>\n\n\n\n

Start with data, not AI<\/h2>\n\n\n\n

AI has the potential to revolutionise how accountants work, but it all starts with one critical piece: data. Without clean, organised data, AI can only go so far.<\/p>\n\n\n\n

\u201cThe trick now is structuring data in a way that makes it usable for automation and AI. Without clean, organised data, the promise of AI remains unfulfilled.\u201d – Charles Richards<\/strong><\/p>\n\n\n\n

When the data isn’t properly structured, it can be a challenge for AI to make accurate analyses or automate tasks effectively. Imagine trying to pull insights from a set of records that are incomplete or inconsistent. It\u2019s like trying to solve a puzzle with missing pieces.<\/p>\n\n\n\n

This is a real issue many firms face when trying to adopt AI; they often have last year\u2019s data in disarray, making it difficult for AI to do its job properly.<\/p>\n\n\n\n

That\u2019s why structuring data correctly is so important. Once you\u2019ve got everything in order, AI can be a game-changer, helping to automate tedious tasks, streamline processes, and uncover insights that would have otherwise taken much longer to find. <\/p>\n\n\n\n

\u201cThen how do you improve it over time so that what you’re trying, you learn from, and it gets better and better?\u201d – Charles Richards<\/strong><\/p>\n\n\n\n

Enhancing Client Communication with Chatbots<\/h2>\n\n\n\n

One area where AI can truly shine is client communication, and this is where structured data plays a key role. With clean, organised data in place, AI tools like chatbots can work effectively to support clients. For example, integrating chatbots into your firm\u2019s website allows for instant responses to common queries, such as retrieving UTR numbers or answering tax-related questions. Because the chatbot draws on accurate data, it can provide precise, personalised answers, improving client experience.<\/p>\n\n\n\n

\u201cIntroducing chatbots to your website can ensure your clients always have access to the answers they need, improving client satisfaction without adding pressure to your team.\u201d – Billy Mcloughlin<\/strong><\/p>\n\n\n\n

By offering 24\/7 support, chatbots enable clients to get the information they need even when your office is closed. This can save time, reduce workload for your team, and ultimately elevate your client service.<\/p>\n\n\n\n

Must-have AI tools for accountants<\/h2>\n\n\n\n

During our discussion each of our panelists provided a list of their top 5 tools, from general to accounting specific.<\/p>\n\n\n\n

Phil\u2019s top 5 tools<\/strong><\/td>Description<\/strong><\/td><\/tr>
Grammarly<\/td>An essential tool for anyone who spends time writing emails, reports, or any kind of formal communication, ensuring your content is clear and error-free.<\/td><\/tr>
ChatGPT<\/td>Whether you\u2019re transcribing meetideas, ChatGPT can save you hours of work.<\/td><\/tr>
Midjourney<\/td>A generative text-to-image AI program that can be a great way to express creatively<\/td><\/tr>
CapCut<\/td>Perfect for accountants venturing into video marketing, CapCut makes video editing quick and easy.<\/td><\/tr>
Gong<\/td>Transcribes sales calls and meetings, providing valuable insights that help improve client relationships.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Charles\u2019 top 5 tools<\/strong><\/td>Description<\/strong><\/td><\/tr>
DataSnipper<\/td>Designed to automate document review, DataSnipper makes tasks like matching data to documents or checking compliance quicker and more accurate, saving accountants time.<\/td><\/tr>
Expensify<\/td>Expensify simplifies expense management and receipt tracking, making it easy for accountants to process expenses and ensure accurate reporting.<\/td><\/tr>
Alteryx<\/td>Alteryx is a tool that helps analyze data and make decisions through using AI and makes it really easy to build bridges between datasets.<\/td><\/tr>
Microsoft Co-Pilot<\/td>An essential and intuitive tool embedded in many existing Microsoft products. It helps accountants draft reports, manage communications, and automate tasks.<\/td><\/tr>
Salesforce<\/td>Salesforce is an excellent place to hold your client data and build that view of them in order to drive better relationships.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Billie\u2019s top 5 tools<\/strong><\/td>Description<\/strong><\/td><\/tr>
Chat Thing<\/td>Chat Thing uses ChatGPT based bots that allow for customer interaction 24\/7.<\/td><\/tr>
Expert<\/td>Expert allows you to check the data that sits within general ledger programs.<\/td><\/tr>
Vinyl<\/td>Vinyl is a note taking tool built specifically for accountants which feeds straight into your CRM that is set to be released during DAS.<\/td><\/tr>
Sage Copilot<\/td>An embedded AI assistant that allows accountants initiate tasks and receive short written reports.<\/td><\/tr>
Intuit Assist<\/td>A financial assistant that uses generative AI to give intelligent and personalised recommendations.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

The bottom line on AI<\/h2>\n\n\n\n

Suffice to say, AI isn\u2019t just a buzzword – it\u2019s already reshaping accounting in ways that make work easier, not harder. Whether it\u2019s automating routine tasks, spotting trends in client data, or improving how firms communicate, AI is here to help, not replace.<\/p>\n\n\n\n

But as we\u2019ve seen, the first step in unlocking AI\u2019s full potential starts with something fundamental: your data. Clean, organised data is the foundation that makes AI tools effective, whether it\u2019s chatbots for client communication or automating your internal processes. Once you\u2019ve structured your data, the opportunities to implement AI open up, and that\u2019s where the real value begins.<\/p>\n\n\n\n

The firms that embrace AI now aren\u2019t just keeping up, they\u2019re getting ahead. They\u2019re freeing up time, reducing errors and focusing on what really matters – advising clients and growing their business.<\/p>\n\n\n\n

If you haven\u2019t explored AI yet, don\u2019t be intimidated. Start small. Look at where automation can save you time and test tools that fit into your daily work. The shift is happening, and there\u2019s never been a better time to be curious and see what\u2019s possible.   <\/p>\n\n\n\n

\"Silver<\/a><\/figure>\n\n\n\n

Missed the webinar? You can watch it here on-demand.<\/h2>\n\n\n\n
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