AI is changing financial management: from accountant to developer

The impact of AI in working life is large in almost every sector. Accounting is no exception: AI developments are automating routine tasks and making work increasingly human-centric and solution-oriented. Read about the changing role of the accountant and the opportunities that automation brings.

Time for self-development and customer development

Artificial intelligence and automation are rapidly changing the way we do business. For accountants, this means, for example, that many routine tasks can be performed without time-consuming manual work. Controller Ulla Soikkeli from Administer believes that saving time is an opportunity whose limits we don’t even know yet.

“Artificial intelligence verifies entries and account entries and calculates probabilities. The accountant’s job is to check that the trend is correct. In other words, time is not spent on individual entries, but on looking at the situation as a whole.”

According to Soikkeli, the time saved from manual tasks can be used by the accountant to manage customer relations, problem solving and self-development, for example.

“AI takes care of the mechanical tasks and with the time freed up, you can develop yourself, develop the business and walk alongside the client as a friend. Few people love clicking a mouse, so this makes the work more meaningful.”

A changing role requires self-management

It’s impossible to predict the future, but one thing is clear: accountants will be needed, even if their role is evolving. Soikkel says that new systems require learning, but in the end, the instrument of an accountant’s job will remain the same, even if the notes change slightly. There is no need to become an AI expert.

The changing world also requires self-management and the ability to see your role in a new light. But this does not mean that you have to learn everything on your own. On the contrary. Change is a shared path, and at Administer, Soikkel says this is clear. They want to invest in developing the role of employees and accountants.

Soikkeli himself is currently involved in the Business Advisor program, which is looking at how accountancy firms are changing in the AI revolution. The aim is to develop new skills, break down role boundaries, and open eyes to new opportunities. Topics include conceptualisation, service design and change management.

“It’s about things as simple as what I can do beyond the numbers. Personally, I’ve been woken up to thinking about the things I can bring to the team and how to improve documentation and service design.

Towards more people-oriented accounting

Only time will tell what developments will bring. However, Soikkeli is a firm believer that customer relationships will become even more important.

“I believe that change will bring quality interaction and a caring attitude that will engage the client. More people-oriented accounting that allows you to meet people rather than just telling them numbers. This is a path we are firmly on already. From accountant to partner, that’s what it’s all about in the end.”

AI development is freeing up accountant time, among other things:

Self-development
Building relationships with clients
Getting deeper into the business
Developing relationships with clients
Problem-solving
Process development