2025: The Era of Tech-Enabled Accountants

As AI first made waves in the finance & accounting sector a decade ago, industry experts were debating the “death by digital” crisis which would mean potential job losses, reduced growth opportunities, or complete replacement of professionals.

Going into 2025 much has changed – owing mainly to a massive cultural and mindset shift in the industry brought on by the impact of AI itself.

CFOs and business leaders are advocating for continuous improvement, innovation, and value addition as fundamentals to staying relevant and competitive.

Technology and AI in accounting are now considered as means to augment, not replace.

Today’s Accountant: Relevant, Strategic, and Efficient.

For today’s accountant, both the skillset and job description have expanded greatly. Accounting firms are embracing the concept of hybrid intelligence – a synergy between human expertise and machine intelligence – to take on more strategic, value-adding services.

Instead of refining skills through routine certifications, the current focus is on upskilling core competencies that compound over time to take on the changing industry.

This lets today’s accountants wear many hats and balance more than just core accounting tasks: Financial management and planning through data-driven insights, risk mitigation, and compliance, tech integration through cloud accounting, automation and AI, crisis management, and leadership are some of the new areas accountants have stepped into.

Accountants have even taken on advisory roles by providing context to decision making through advanced data analytics and data visualization. This enables leaders to make decisions benefiting long-term growth rather than return on investment alone.

How is AI Being Used in Accounting?

According to the Global AI in Accounting Market Report, The Global AI in Accounting Market size is expected to be worth around USD 88.2 Billion by 2033, growing at a CAGR of 41.2% during the forecast period from 2024 to 2033.

Additionally, Gartner predicts that 90% of finance functions will deploy at least one AI-enabled technology solution by 2026.

Currently, accountants are using AI in a diverse range of areas such as:

• Invoice Processing & Expense Management: AI automates accounts payable/receivable, supplier onboarding, invoice verification, fraud detection, and payment reconciliations.
• Data Analysis: AI analyzes financial statements, detects anomalies, and identifies cost-saving opportunities.
• Business Intelligence & Decision-Making: AI-powered dashboards, assistants, and expert systems assist in financial and strategic decisions.
• Pricing Analysis: AI enables dynamic pricing and automated pricing analysis.
• Forecasting: AI-driven predictive analytics improve financial and cash flow forecasting.
• Financial, Regulatory & Business Research: AI streamlines research on regulations, accounting standards, and industry trends.
• Scenario Generation for Strategic Planning: AI helps create and refine strategic business scenarios.
• Auditing: AI detects anomalies in financial reports and assists auditors in analysis and report preparation.
• Business Communications: AI helps draft emails, reports, meeting agendas, and other corporate communications.

A Wider Lens: Key Technologies Beyond AI

In addition to AI, several other advanced technologies are improving efficiency, security, and decision-making in accountancy:

• Cloud Accounting enables secure, real-time access to financial data, allowing seamless collaboration and agile decision-making.
• Automation & Practice Management streamlines routine tasks, centralizes client management, and enhances accuracy through automated insights.
• In-depth Financial Reporting & Analysis provides customized reports, detects discrepancies, and supports data-driven financial strategies.
• Blockchain enhances security with tamper-proof transactions, reducing fraud risks and increasing financial transparency.
• Robotic Process Automation (RPA) accelerates repetitive processes like reconciliations and audits, minimizing errors.
• Big Data & Advanced Analytics unlocks financial trends, enhances forecasting, and strengthens fraud detection.

H Connect International’s Tech-Enabled Accountants

At H Connect International “upskilling and reskilling”, “tech-enabled”, and “continuous innovation” are principles we’ve incorporated across our teams.

Our established Digital Transformation Pillar includes a Transformation SEAL Team and a dedicated AI Task Force. This group proactively develops AI capabilities and solutions tailored to our client’s needs, optimizing their processes.

Our team is well-equipped to help businesses strategically balance AI and technology investments with profitability. With experience spanning Australia, the US, the UK, and Canada, we provide region-specific insights and customized strategies for streamlining operations and boosting automation, efficiency, and productivity.

Our cost-effective solutions, at 50%-60% less than traditional staffing, free up resources for strategic investments in technology, process improvements, and business growth.

Read more about our specialized finance & accounting services here.