10 AI Tools for Accounting

AI tools are transforming the accounting landscape, offering efficiency, accuracy, and insights. From automated data entry to advanced analytics, these tools streamline repetitive tasks, freeing up accountants to focus on higher-value activities. AI-powered solutions can categorize expenses, detect anomalies, and predict financial trends with remarkable precision. Additionally, natural language processing enables conversational interfaces for intuitive interaction with financial data. As AI continues to evolve, accountants can leverage these tools to enhance decision-making, improve compliance, and drive business growth in the digital age.

There are 1,000s of AI Tools, But which ones are relevant for Accounting?

Here is a selection of some of them.

1. Flow: Accounts Payable

Uses advanced NLP and AI for AP automation, invoice processing, and payment automation.

2. Trullion: Lease Accounting

Uses AI to simplify revenue recognition, lease accounting, and audit workflows.

3. Vic.ai: Accounts Payable

Uses AI trained on half a billion invoices to reduce processing time.

4. Docyt: General Accounting

Automated G/L data entry, bookkeeping, and expense management.

5. Gridlex: ERP Software

AI is used to provide insights on accounting and linked with non-financial information.

6. Booke.ai: General Accounting

AI is used for expense categorization and flag coding errors.

7. AccountsIQ: Accounting + BI

Data entry is assisted by AI to reduce processing time and errors.

8. AppZen: Spend Audit

AI is used in the spend review and audit. It flags out-of-policy violations and gives analytics.

9. Glean.ai: Accounts Payable

AI assists in vendor spend and benchmarking expenses against other companies.

10. Zapliance: Cash Recovery

AI helps identify and prioritize liabilities that have been entered twice.

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