Today’s finance teams are under pressure: too many spreadsheets, too much manual data entry, and not enough time to add real value. At the same time, AI and automation are changing what’s possible inside the finance function.

In this webinar, Nick Longden, CRO at AccountsIQ (and former senior leader at Xero, Sage and FreeAgent), explores how to embrace automation safely and strategically – without “replacing” finance professionals.

You’ll hear insights from AccountsIQ’s survey of over 500 finance professionals (junior and senior) and get practical examples of how modern tools can streamline processes, improve reporting, and free up time for analysis and decision support.

Agenda / Key topics

1. Why automation matters now
   • Findings from AccountsIQ’s “Confessions of the Finance Function” survey
   • Levels of stress, frustration, and perceived lack of recognition among finance teams
   • Why younger professionals are ambitious but not always planning to stay in the profession
2. The reality of AI in finance (vs the hype)
   • What’s already been AI for years (bank feeds, machine learning rules, predictive analytics)
   • How tools like ChatGPT differ from a simple Google search
   • Where AI will realistically help in the short term:
     • Fraud detection patterns
     • Drafting management commentary and narrative on reports
     • Forecasting and scenario analysis
   • Why AI is not likely to erase finance jobs, but will change the nature of the work
3. From “old” to “new” finance function

Nick contrasts two models:

Old finance function

• Heavy manual transaction processing
• Compliance and reporting done, but little time for analysis
• Finance perceived as a back-office “bean-counting” function

New finance function

• Automation reduces time spent on transaction processing
• Compliance still covered, but with more robust tools
• Much more time for:
  • Interpreting data
  • Advising on profitability, cash flow and growth
  • Partnering with the business on strategic decisions

4. Where the pain is today (and what to fix)

Common frustrations from the survey:

• Manual data entry and rekeying from other systems
• Over-reliance on spreadsheets for reporting (with high risk of error)
• Poor system integration (e-commerce, CRM, EPOS, etc.)
• Limited visibility for non-finance stakeholders; constant ad-hoc report requests
• Stress, burnout and a sense of being undervalued

5. Practical automation examples

Nick walks through live, practical scenarios:

Data capture

• OCR for AP invoices
  • Invoices emailed into a central inbox
  • System reads the PDF and pre-populates the purchase invoice
  • Finance checks and posts instead of keying from scratch
• Expense apps
  • Staff photo receipts → app reads and codes the expense

Integrations (APIs & files)

• File-based imports (e.g. daily EPOS Z-report into the ledger)
• Real-time API integrations:
  • From e-commerce, order processing, field service apps, CRM
  • Keeping granular dimensions (e.g. product, location, salesperson) for richer reporting
• Example: Salesforce connector
  • From within Salesforce, users can see live customer balances and outstanding invoices pulled from the finance system

Process automation

• Workflow approvals
  • Multi-step approvals based on:
    • Value thresholds
    • Supplier
    • GL code / cost centre / dimension
  • Full audit trail of who approved/rejected and when
• Intercompany automation
  • Automatically posting the “other side” of intercompany entries in the related entity
• Bank feeds & reconciliation
  • Automated bank feeds
  • Machine learning rules to speed up coding and matching

6. Modern reporting & dashboards

Nick shows how modern systems are moving beyond static reports and Excel exports:

• Built-in dashboards for:
  • Sales, purchases, P&L, balance sheet, cash position, etc.
• Interactive filters (e.g. by department, region, project) that update charts and KPIs in real time
• Sharing dashboards with non-finance stakeholders (e.g. CEO) for self-service insight
• Positioning Excel as a powerful complement, not the primary reporting engine

7. Five steps to transforming your finance function

Nick outlines a simple roadmap:

1. Move to true cloud financials
   • Essential for APIs, automation, and frequent updates
2. Adopt core financials
   • Get the basics stable: GL, AP, AR, bank, fixed assets
3. Layer on “quick-win” automations
   • OCR for AP, expense apps, approval workflows, bank feeds, simple integrations
4. Drive collaboration
   • Use approvals and role-based access to involve non-finance stakeholders
   • Share dashboards and reports, not just spreadsheet exports
5. Share insights
   • Use the freed-up time to analyse performance and support strategic decisions
6. People and change: bringing the team with you

Key people insights from the Q&A:

• You still need core finance skills – AI doesn’t replace technical knowledge
• Future skills to prioritise:
  • Analytical thinking and curiosity
  • Ability to interpret and communicate financial insights
• For digital transformation projects:
  • Be crystal clear on what problems you’re solving (top 4–5 pain points)
  • Don’t try to do everything at once
  • Involve “skeptical” team members early in requirements and system selection so change isn’t “done to them”

9. Selected Q&A highlights

“How real is AI today – or is it just hype?”

• It’s real and already embedded in tools you use (ML bank rules, predictive analytics).
• Generative AI (e.g. narrative on management accounts) is maturing quickly but still needs human review.
• Main benefits will be efficiency and scale, not mass redundancy.

“How will L&D needs change for my team?”

• Core qualifications remain important.
• Growing focus on:
  • Data literacy
  • Interpretation and communication of insights
  • Comfort working with new tools and automation

“What’s the #1 consideration when starting a digital transformation?”

• Know exactly why you’re doing it:
  • Which pain points are you fixing?
  • What outcomes do you expect?
• Keep the initial scope focused and manageable.

“How do you win over skeptics?”

• Involve them early in:
  • Mapping pain points
  • Evaluating potential solutions
• Make them part of the decision and design, not just the rollout.

“Do AccountsIQ’s systems handle stock?”

• AccountsIQ has basic stock functionality.
• For complex requirements (batch tracking, barcodes, warehouse flows), Nick recommends using a specialist stock/ERP tool and integrating it with AccountsIQ, rather than forcing everything into the finance system.

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