Why accounting is not 100% automated
While technologies have increased accounting automation by up to 75% over the last few years, A.I. has not been developed yet in order to provide the human factor that is still needed to complete the remaining accounting pieces needed to make sure your financials are 100% accurate.
Take for example data entry and reconciliation. Sure, you can setup rules and automate much of your data entry. However, there is still that small percentage that still needs a human to analyze and verify things are being coded accurately. And then there’s reconciliation. No software automates reconciliation today. None. This requires human interaction, which is why accounting is never 100% automated… at least with today’s technology available.