What would it mean for your team if closing the books took just several hours instead of several days?
AI enables it, but only if your accounting systems are ready to support it. Even the smartest tools can stall or fail if they are not properly prepared.
It's not about chasing trends or purchasing the newest software to get your accounting systems ready for AI. For AI to truly deliver on its promises of accuracy and efficiency, it is crucial to establish a solid foundation in data quality, process workflows, and governance.
Businesses are rapidly transitioning from pilots to enterprise-wide adoption. Deloitte surveyed business leaders in Q3 2024 and found that 67% stated they are increasing their investment in generative AI.
AI capabilities have continued to advance since the study was conducted. Companies that haven’t prepared their accounting systems are already at risk of falling behind.
AI has significant potential for accounting, including faster closings, real-time anomaly detection, and predictive insights that enable leaders to stay ahead of the competition. The advantages heavily rely on having clean, interconnected systems as the foundation, rather than relying solely on AI.
AI can't solve issues when systems aren't ready; it can actually exacerbate the problems. Inconsistent data leads to inaccurate forecasts. Instead of automating tasks, manual workarounds cause confusion. Control gaps leave compliance teams in quite a pickle.
Accuracy, agility, and confidence in reporting are now gained by those who prepare early. Waiting means running the risk of inefficiency, compliance issues, and falling behind rivals.
Before layering AI onto your accounting systems, it’s worth taking stock of the basics. Think of this as a “health check” — the stronger your foundation, the smoother your integration will be.
Even with the right systems in play, AI integration can still fail if you fall into these traps:
Preparing your accounting systems for AI is a continuous process that involves several practical steps.
Look out for any potential inefficiencies, gaps, or manual workarounds that could block automation.
Clean up your records, standardize formats, and make information accessible so AI models can deliver accurate results.
Make sure AI tools can be easily integrated with your accounting and ERP platforms via APIs or connectors.
Implement controls, permissions, and audit trails from the outset to safeguard sensitive data.
Train your accounting team to build trust and confidence in new workflows by teaching employees how to work with AI rather than around it.
When you see AI in action, it's worth getting your systems ready. Some of the most helpful use cases are:
Not necessarily. As long as your system supports APIs or integrations, many modern AI tools can be easily plugged in and operate seamlessly with existing platforms.
Remove duplicates, standardize formats, and fill missing values. Clean data is the key to reliable outputs and avoiding costly errors.
Early wins, such as faster reconciliations, often become apparent within months. Broader ROI grows as more processes integrate and your team adapts.
No. AI handles repetitive tasks, but humans remain essential for oversight, judgment, and handling exceptions. It frees accountants to focus on analysis and strategy.
AI can’t deliver the results you’re looking for without a solid foundation. If AI is supported by clean data, connected systems, and transparent processes, that’s when it becomes a business advantage. It drives faster adoption, quicker returns on investment, and leads to fewer compliance issues in the long run.
The question isn’t whether AI will change accounting, but whether your systems will be ready for when it does. Join our AI Readiness Workshop to start building your roadmap, and watch the on-demand Beyond Buzzwords Webinar for practical case studies you can put into practice today.