Is AI's ROI Just Cost Savings?

AI’s ROI isn’t just about cutting costs, it’s about saving time, filling talent gaps, and transforming how firms deliver value.

Whenever a new technology comes along, the first question is always: What’s the ROI? Fair enough, I mean if it’s not driving value, why invest?

But when it comes to AI in accounting, ROI isn’t just about cost savings. It’s about time, talent, and transformation.

⏳ Time: AI doesn’t just shave minutes off tasks, it eliminates the busywork altogether. That’s hours accountants get back to focus on actual client relationships, the thing AI will never replace.

👥 Talent: The talent shortage is real. Fewer graduates are entering the field, while experienced pros are retiring. AI fills the gaps, handling the grunt work so teams can do more of the work that actually makes a difference in small businesses.

🚀 Transformation: Here’s where AI goes from “nice to have” to game-changing. It’s not just automating tasks, it’s uncovering insights firms might have otherwise missed. A pattern in client spending that signals a new revenue stream. A subtle red flag in the numbers that flags risk before it becomes a problem. That extra step you’ve always wanted to take but never had the bandwidth to do so.

And the firms embracing AI? They’re pulling ahead—fast. According to The Australian Financial Review Top 100 Accounting Firms list for 2024, firms using AI grew 50% faster than those that didn’t. And this is before agents had a big role!

So, if you’re only measuring AI’s ROI in cost savings, you might be missing the bigger picture. The real value? More revenue, better client service, and a firm built for the future.

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Author

Agus Echagüe

Category

AI Framework
ROI

Type

Article

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