Brought to you by
Suralink logo

Suralink provides professional services firms with a single, secure platform to collaborate with clients, exchange documents at scale, and track the progress of engagements. 

Save content
Have you found this content useful? Use the button above to save it to your profile.

How Artificial Intelligence Is Shaping, and Will Continue to Shape, Professional Services and Their Client Interactions

6th May 2024
Brought to you by
Suralink logo

Suralink provides professional services firms with a single, secure platform to collaborate with clients, exchange documents at scale, and track the progress of engagements. 

Save content
Have you found this content useful? Use the button above to save it to your profile.

 

Artificial intelligence has inundated all of the airwaves (literal and proverbial) the past two years or so, and with good reason. Whether it’s looking for new ways to automate tasks or generating uncanny artwork on the internet, AI is proving to be a remarkable Pandora’s Box in nearly every arena of personal and work life. What sets it apart from other innovations, though, is that we’re still so unsure of where this technology will ultimately go and how it’ll continue to shape both our lives in particular and society at large.

 

In the context of accounting, audit, and other professional services, though, AI already offers a lot of clear promise. The technology can also be leveraged to address challenges specific to several of those disciplines, ultimately creating a meaningfully improved experience for both professionals and clients. What follows is a brief breakdown of what those factors are and why firms should consider incorporating them.

 

Factor 1: AI in The Context of Talent Gaps

 

It’s no secret that fewer students are entering several professional spaces, not the least of which is accounting. This is particularly concerning when one considers that the need for accountants and the services they provide is greater than ever. But, between a smaller talent pool and many young accountants being drawn to other career paths, accounting firms need to leverage whatever resources they can to complete more work with less talent. The same math problem is also true for many auditors, consultancies, and more.

 

Artificial intelligence offers firms a lot of promise when it comes to solving for this shortfall. Many professionals in accounting, audit, and beyond spend a lot of time manually chasing documents and performing meticulous individual tweaks on the engagements they’re conducting. However, whereas pursuing email threads and holding an engagement together across multiple portals and softwares is prohibitively time-consuming, a single platform powered by AI changes this entire paradigm.

 

More specifically, platforms like these empower professionals by not ‘just’ streamlining engagements, but automating them. Imagine the time saved by an engagement process that automatically updates document statuses in real time, allows all stakeholders to communicate in a centralised manner, and saves templates to be reused in the next interaction. Artificial intelligence has already demonstrated such powerful automation capabilities as these, and the implications for both engagements and the talent gap are profound.

 

Factor 2: A Meaningfully Improved Experience for All

 

When accounting and other professionals leverage platforms powered by the latest technology, including AI, the saved time and effort achieved by such an approach is neither the end result nor the biggest. Saving time is important, yes, but the peace of mind, enthusiasm, and meaningful experience improvement are more so. The current engagement paradigm leaves many clients (and more than a few professionals) feeling like the process is a cost center at best… and a nuisance at worst.

 

With centralised platform AI, though, it doesn’t have to be this way. Suralink, the world leader in PBC request list and engagement management software, has seen adopters of its platform slash their time spent on engagements by as much as fifty percent. This is due in no small part to AI-powered automation, and it has turned their engagements from a tedious cost center into an enjoyable boon.

 

Moreover, the time and effort AI has saved these firms helps them close the aforementioned talent gap, empowering practises to do much more with the talent that is available to them. That talent is likewise less likely to churn, as the greater ease and saved time afforded by this approach reduces burnout and boosts enthusiasm, resulting in a meaningfully improved experience for every stakeholder in the engagement.

 

Taking the Next Step

 

Click here to learn more about Suralink’s approach to process automation, platform centralisation, and more can help your firm not ‘just’ close the talent gap and expedite engagements, but leverage groundbreaking technology to create greater experiences for everyone in your orbit!

 

Author: The Suralink Team