Business Transformation, Automation and Data Analytics Consultants
Accounting
Background
Automation in Accounting
The accounting industry will see significant changes to the industry over the next decade. The dual combination of increasing sophistication and reliability of bots and large language models will result in the creation of new services for clients, and changes in the cost structure of service provision.
Case Study
The Problem
The large international accounting firms have started investing heavily in automation and AI. The mid-tier and small accounting firms are lagging behind. If these mid-tier and small accounting firms do not start investing in automation and AI tools to improve their productivity and standard of service, they will be left behind in terms of service offerings and costs. The firms that do not invest will lose market share to those that invest.