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AcctTwo Blog

The Advice You Need Before You Implement AI

Artificial intelligence (AI) is rightly being called one of the most transformative technologies in human history. Systems that are intelligent and adaptable will make it possible to accomplish and understand more than has ever been possible before. The repercussions for business are huge, but the impact is likely to reach every corner of humanity.

It's appropriate to talk about AI excitedly, but it's also a little misleading. The promise and potential of AI is huge, but it's not going to change the world overnight. It's also not going to solve every hassle or headache that companies deal with. AI is a powerful tool, but it's not a panacea.

Topics: Artificial Intelligence Finance Automation Accounting

How Artificial Intelligence Could Help Manage Contracts

Managing contracts is already a painful process. When the new revenue recognition rules outlined in ASC 606 go into full effect, the process will become even harder.

Beginning in December 2018 all companies will need to report revenue from all contracts in a new way. The goal is to make revenue recognition simple and more standardized across industries. But to achieve that, companies must follow new rules and adopt different practices.

Topics: Artificial Intelligence RPA ASC 606 Revenue Recognition

Artificial Intelligence Will Prove How Necessary People Are

As artificial intelligence (AI) grows in maturity and ubiquity, it's hard not to imagine a "rise of the robots" scenario. But whether you expect the future to be more like the Jetsons or more like Terminator, it's likely to be less robotic than any of us predict.

Topics: Artificial Intelligence Accounting CPA

Diginomica: AI Bots Are Coming to Midmarket Finance and Accounting

In a recent article, Diginomica co-founder Jon Reed gives us his take on Sage Intacct's announcement of a new artificial intelligence (AI) bot, Pacioli. Fra Luca Bartolomeo de Pacioli was a 15th Century Franciscan Friar who is widely considered the father of double-entry accounting. At Sage Intacct's Advantage user conference in Las Vegas in October, Aaron Harris, Sage Intacct Senior Vice President and Head of Engineering and Technology, publicly announced the development of Pacioli as Sage Intacct's next major technological addition to its cloud-based financial management software.

Topics: Diginomica Artificial Intelligence Robotic Process Automation Sage Intacct