In the future, accounting software will support the accountant past the digitalisation of information to the point where the software will manage finances autonomously. Adaptive – or learning – processes and artificially-intelligent functions will ensure this.
Artificial Intelligence not only allows automobiles to drive autonomously and gives buildings 'smart' qualities, but will also transform certain company operations which will become almost entirely automated in the long term. An example of one of these operations is classic manual accounting. Assistance by an accountant will only be necessary in some instances. The rest of the time, an artificially-intelligent financial accounting software will have the ability to take over accounting functions completely.
This requires procedures, with which bills and supporting documents of all varieties are recognized accurately and automatically assigned to an account, payments are delivered, anomalies, (e.g., variations in prices of individual items/products) are recognized, and routine bills and documents are automatically recorded. Such processes are based on abstract and multiple applicable expert systems founded on expanded Boolean algebra and integrated decision trees. An artificially-intelligent software must be knowledgeable about what exists and how handle what is unrecognizable or only nearly recognizable. This means it has to be able to control any lack of clarity or vagueness using methods such as multi-valued fuzzy logic.
Artificial Intelligence will not only be used for the automatization of processes, but will also simplify the use of software, e.g., through voice command. Simple questions and answers make the operation of the software comfortable and efficient, which will significantly minimize research and work expenditure. Ergo, voice command is an important field of the future – not only in private, but also in professional settings. Additionally, smart software informs its users about changes automatically and individually – by mail or messenger.
It is simple for artificially intelligent systems to reveal patterns, recognize coherencies, and draw simple and logical conclusions – something a person may have difficulty achieving alone with a large amount of data. This is why individuals and artificial intelligence systems are important partners for the future of entrepreneurial decision-making. The use of this software relieves employees from routine duties: Instead of processing documents, the accountant, as finance controller, will deal with strategic company questions that the artificially-intelligent software put on his agenda. For example, the identification of conspicuous operating numbers or benchmarks, or predicted future financing gaps which are difficult to recognize with the naked eye.
The prerequisite for the functioning of artificial intelligence in business software, however, is that closed systems will be opened and data silos eliminated in favour of more open and integrated platforms. This is the only manner in which processes can be cross-departmentally controlled and information centrally merged. Open systems also allow for the continuous data exchange of media with third-party applications and its integration, for instance, with DATEV, Microsoft, and Creditreform. Only in such integrated systems can artificial intelligence reveal its full impact.