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Cloud-based accounting firm leverages AI to streamline operations

Business

Cloud-based accounting firm leverages AI to streamline operations

By Gabriell Christel Galang

Accounting and financial advisory firm CloudCFO announced the integration of artificial intelligence (AI) into its systems to enhance financial processes for its clients and empower small and medium enterprises (SMEs).

During a media roundtable, Mickael Cardoso, CloudCFO's President and CEO, said this integration will elevate their value-added services—including bookkeeping, accounting, payroll, and tax compliance—by incorporating new technology.

Key features include automated expense transactions with real-time reporting that reduce manual procedures and enable clients to receive timely strategic financial advice.

Additionally, AI-driven systems for process and file management, communication, and bookkeeping have been implemented to further streamline the company’s operations.

“It’s about enhancing the overall customer experience and solidifying our mission to empower business owners through innovative accounting solutions,” he said.

“While AI can impact operations such as data collection and research, [as well as] report filings, there are limitations to this, as each business and its procedures are unique,” Cardoso emphasized.

For the CloudCFO chief, he believes that AI adoption would work when businesses make better use of their existing softwares to effectively upgrade their systems to AI-based solutions. This will be achieved through training and educational programs.

“For AI to drive real efficiency gains in accounting, the role of the accountant needs to fundamentally evolve to focus on technology integration, analytical and advisory functions,” he added.

Since established in 2016, CloudCFO has served more than 230 clients worldwide, with 80 percent coming from the Philippines.

Related Tags

CloudCFO Philippines Online accounting companies Philippines

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