Artificial Intelligence: The Awkward Office Love Affair

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Business owners, be forewarned: The accounting technology (AccTech) bots are taking over. These bots are lines of code that grab information and communicate with humans about your business operations. They know (almost) everything before you’ve even whispered the thought, and they might want to take your bookkeeper’s job — or maybe just work alongside her. Emerging technologies, particularly machine learning and artificial intelligence, will transform the role of small business bookkeeping, enabling accountants to interact with bots similarly to colleagues.

Accounting technology companies like Xero are leading this innovation by releasing AI tools aimed at minimizing, and ultimately eliminating, manual transaction coding. While this may seem alarming for traditional number crunchers, the truth is that as these technologies evolve and organizations adapt, bookkeeping bots will continue to dominate the industry landscape.

The evolution of the bookkeeper’s role is significant. Traditionally viewed as reactive data managers—tracking and managing transactions—bookkeepers are now facing a future where many manual tasks can be automated. Functions such as invoice recording are becoming automatic, requiring little or no human intervention, embodying the concept of #ZeroDataEntry. Consequently, the role expands beyond mere data management to include understanding technology, addressing workflow issues, and adding strategic value to finance and operations.

This shift necessitates a reevaluation of skill sets in the accounting workforce. Modern bookkeepers should possess deeper technological understanding, including familiarity with cloud accounting platforms like Xero, and a competency with various applications such as Expensify, Hubdoc, Avalara, and Zapier. They must be able to assess how these tools influence workflow and problem-solving within accounting processes. Such skills are crucial for future-ready bookkeepers who can manage data flow effectively, adapt to new technology, and contribute to strategic decision-making.

Yet, the United States lags behind other countries in integrating these advanced skills into its accounting profession. Closing this gap requires proactive efforts in hiring, training, and developing talent capable of thriving alongside AI and automation. Small businesses need to identify existing skills gaps and actively leverage industry resources—including conferences and professional networks—to recruit top-tier candidates. It’s essential to evaluate prospective employees not only on their traditional bookkeeping skills but also on their technological dexterity and adaptability to cloud-based systems and apps.

Recruiting from a pre-vetted talent pool is increasingly vital. Since replacing an employee can cost up to 60 percent of their annual salary, businesses should focus on finding candidates who demonstrate a proactive attitude toward learning and adapting to new technologies. In interviews, candidates should be asked to discuss their familiarity with relevant apps and their experiences with solving workflow or data management problems. Doing so reveals their capacity to handle future bookkeeping duties that will be heavily reliant on technological fluency.

Developing current staff members is equally important. As bots reshape how bookkeeping functions are performed, companies must invest in ongoing training and professional development. Online courses from organizations like the Institute of Certified Bookkeepers USA (ICBUSA) and industry conferences, such as Accountex, offer avenues for upskilling. Cultivating a culture of continuous improvement will help retain top talent and ease transitions to new roles within the organization, fostering internal growth and loyalty.

In this new era, human accountants will increasingly focus on strategic advisory roles rather than manual data entry or transaction processing. AI bots excel at processing data rapidly and accurately, but they cannot replace human judgment, nuance, or insight. Bookkeepers who embrace technological advancements and seek to develop complementary skills will be vital in ensuring that businesses remain competitive. Those resistant to change may find themselves lagging behind as their organizations fall behind in efficiency and innovation.

In conclusion, the relationship between bots and bookkeepers is akin to an awkward love affair—initially fraught with apprehension, but ultimately capable of evolving into a productive partnership. By balancing investments in technology and talent development, small businesses can harness the full potential of AI to streamline processes, reduce manual errors, and enhance strategic decision-making. Embracing this change is essential for staying competitive in a rapidly transforming industry. Human professionals must not only adapt to automation but also leverage their unique insights and skills to add value where machines cannot.

References

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