How cloud accounting and integrated services based on AI can impact accounting companies?

Mihai Mirela Simina () and Duţescu Adriana ()
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Mihai Mirela Simina: Bucharest University of Economic Studies, Bucharest, Romania
Duţescu Adriana: Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2022, vol. 16, issue 1, 849-858

Abstract: Artificial intelligence solutions are not present only in big companies, but the new trend is to start changing the accounting profession also in small and medium companies. In order to shorten the period in which they will have access to artificial intelligence solutions, the artificial intelligence needs to be offered in a more accessible form. This paper represents the first step in a more in depth research about the way available resources for an organization to implement artificial intelligence solutions in their financial departments. This decision has the potential to bring fundamental changes to accounting and auditing, and in the entire financial markets. This paper explores the potential of artificial solutions adaptation in accounting, identifying the steps already taken in this field of activity which will help them to implement further changes. We investigate mainly the organizational changes brought by cloud computing and its potential for the accounting field to adapt to further technological solutions. We assessed the cloud computing’s effect on the accounting profession, and the potential role of these professions in further implementing more intelligent solutions, as well as the main advantages and disadvantages in order to understand the reasons for high interest in migration to cloud computing, especially during the COVID-19 crisis.

Keywords: cloud accounting; software as a service; artificial intelligence; accounting; finance (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:16:y:2022:i:1:p:849-858:n:31

DOI: 10.2478/picbe-2022-0079

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