The platform can ingest enormous volumes of data and screen it for potential issues much more quickly than would ever be possible by a human. More recently, KPMG has partnered with IBM to develop a custom AI platform built on Watson technology that is supporting its work for clients in a wide range of different areas, but particularly its auditing service. IBM’s flagship artificial intelligence platform first sprang to prominence back in 2011 when it appeared on a special edition of the US quiz show jeopardy and comprehensively beat two of the competition’s former champions. In this article, we’re taking a look at five disruptive technologies that are making accounting more efficient – providing critical commercial advantages to accountancies and customers alike. As a result, pushing for investment in new technology is no longer the preserve of the IT department, but frequently something driven by professionals at the coalface of the business.

These digital tools are no longer a nice-to-have, but a commercial essential in the new financial-services landscape. Today, it only takes a quick glance at the websites of the top accountancy firms to see that they all talk about their automation capabilities as a key part of their message to customers. However, a longer-term tech arms-race has been unfolding in the sector for several years now – the quest to improve efficiency through automation and new service models, both internally and by working smarter in collaboration with clients. The accountancy industry, like many others, is currently facing a test of its technology and processes on a new scale as it strives to meet clients’ needs while its people work from home. Here are five technologies that are transforming the way accounting works, and which every IT manager needs to know about. AI, automation and self-service is disrupting every aspect of accounting, both for financial services firms and their clients.

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