Slow Down to Speed Up: 4 AI Lessons for Accounting Practices
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AI isn't a silver bullet, but it might just be the best intern you never hired. Still, many accounting firms are rushing into AI like it's a Black Friday sale, only to find themselves stressed, underwhelmed, and wondering why their "AI transformation" feels more like a tech hangover. If that sounds familiar, you’re not alone.
Let’s say you’re thinking about using Draftworx’s AI-powered automation features to streamline financial statement preparation. Here are four must-know truths before plugging AI into your practice, using Draftworx as a real-world example:
Hype Isn’t a Timeline
You’ve heard Draftworx can cut prep time in half. But before you ditch your current workflow, take a breath. According to Mike Cieri, EVP of software at Bill, "We'll see rapid change over five years, but not a six-month turnaround." Translation? You don’t need to implement everything on day one. Start by understanding what Draftworx AI actually does—like auto-mapping trial balances or generating working papers—and what it doesn't.
Think Small to Win Big
Pick one or two clients—maybe those with straightforward financials—and assign one team member to trial Draftworx AI features on just those jobs. Track how long tasks take, how often adjustments are needed, and how user-friendly the tool feels. Don’t aim for perfection. Aim for clarity.
Trust Comes from Testing
Check every output. Does the auto-generated working paper match your standards? Are disclosures accurate? Build a checklist. Document what the AI gets right, what it gets wrong, and when human review kicks in. This process builds confidence in the tech—and protects your reputation.
AI Isn’t Replacing You — It’s Releasing You
Once you’re confident with Draftworx on simple jobs, you can expand to more complex clients. The time saved can now be reinvested: more face time with clients, better team training, deeper advisory insights. Draftworx doesn’t replace your expertise, it frees it up.
In Summary
Don't let the noise rush your judgment. Test before you trust. Build systems that scale. And always remember: The best tech supports human connection, not replaces it.
Need help figuring out where to start with AI in your practice? Tap into the CIBA network. Nominate a firm doing it right or share your lessons learned. Let's grow smarter, not just faster.
Source Article: Accounting Today
