From AI to e-invoicing: iplicit consults industry’s brightest on how software will shape 2024

A dozen of the UK’s brightest finance professionals have helped iplicit produce a guide to the ways software could change the accounting world in the coming months.

iplicit conducted in-depth interviews with the UK’s FD of the Year and 11 leading accountants specialising in technology and outsourcing.

The result was the publication Change Is Coming: 7 Key Trends in Finance Software You Need to Know About.

iplicit's own cloud accounting software is aimed at medium-sized organisations and accountancy practices with mid-market clients. It has been boosted by a new array of automation features, AI and integrations in the past year.

Matt Lewns, Partner Manager at iplicit, said: “We wanted to produce a guide for accountants and FDs alike about how developments in software might change the way they work in 2024.

“Naturally, the iplicit team have our own thoughts on the subject. But we thought the reader would prefer to hear from people who constantly digest all the latest developments in software and tech and apply them in the real world every day.

“We suggested some topics for discussion but our interviewees were free to dismiss them, add their own and take the conversations wherever they liked.

“The interviews produced a host of insights on everything from artificial intelligence to open banking – and from e-invoicing to how better software helps recruitment.

“We think the end result should interest anyone who runs a finance department or serves clients in an accountancy practice.”

Becky Glover of Yutree Insurance, who was named FD of the Year at the Accounting Excellence Awards 2023, gave insights from the point of view of a financial director.

The accountants quoted are:

• Alastair Barlow, CEO and co-founder of flinder

• Ewan Bolt, Director and Head of Digital Advisory at Johnston Carmichael

• Lara Brennan, UK Head of SME at Mazars

• Russell Frayne, Director of Transformation at Gravita

• Lauren McIlroy, Business Unit Head for AAB’s Virtual Finance Function

• Garry Mumford, Managing Director of Insight Associates

• Ryan Pearcy, Associate Partner at Scrutton Bland

• Luke Quince, UK Head of Digital Delivery Services at Azets

• Nicola Savill, Director of Outsourcing at Moore Kingston Smith and Digital Lead for Moore UK

• John Toon, Tech Strategy Lea at Beever and Struthers; and

• Simon Woodhams, Outsourcing Digital Innovation Lead at Moore Kingston Smith.

Among the subjects explored in the guide are:

• AI: What will it actually do? And how big will it get?

• Integrations: What new forms will they take and should you integrate more applications or upgrade?

• Will open banking finally start to deliver?

• Is e-invoicing on the way?

• Will the gulf grow between early adopters and the rest?

• What impact will tech have on recruitment? And what about traditional accounting skills?

• Can automation make our businesses more human? You can download your copy of the guide here.