Navigating AI Innovation in Accountancy: Keeping Control in a Changing Landscape

We think the iManage and Microsoft partnership stands out in this space. Widely used across professional services, iManage provides a secure, structured system for managing documents and emails, while Microsoft offers AI driven tools designed to improve productivity in familiar environments like Microsoft 365. Together, these technologies offer a practical, scalable approach to innovation without disrupting workflows.

AI-Driven Tools in Accountancy Firms

Accountancy firms deal with significant amounts of structured and unstructured data such as financial reports, audit records, tax filings, and client communications. AI can help manage this information more effectively, improving searchability and reducing time spent on manual tasks.

iManage offers AI-driven tools that can improve productivity:

‍1. Ask iManage: A tool that allows you to locate key data within documents, ask follow-up questions, and generate summaries, reducing time spent searching for information.

2‍. Mailbox Assistant: Uses AI to automatically organise and classify emails, learning from user behaviour to improve accuracy and reduce administrative overhead.

3‍. AI Services: Enhances document classification and metadata enrichment, ensuring that the right information is surfaced at the right time without requiring extensive manual input.

While these tools offer potential efficiencies, AI should be viewed as a complement to human expertise rather than a replacement. You’ll need to evaluate which elements of AI integration make sense for your firm.

Automation and Workflow Efficiency

AI can also support automation within financial workflows e.g. reviewing financial statements or flagging anomalies in reports. Automated compliance checks and risk assessments are becoming more sophisticated, reducing manual workload while enhancing consistency.

However, not all firms will benefit equally from automation, and a careful balance is required. AI should assist you, rather than take over decision-making. Human oversight remains essential to ensure accuracy and compliance with industry regulations.

Security and Governance Considerations

Security and governance are key concerns when adopting AI, particularly when handling sensitive data. Microsoft Azure AI Services can support client-facing AI solutions while iManage ensures that sensitive documents, emails, and financial records remain protected within a secure governance framework. A clear governance framework outlining AI usage, accountability, and oversight is essential for firms looking to integrate AI responsibly.

Firms should also be mindful of regulatory scrutiny. As AI-generated content becomes more common, questions around responsibility and auditability will need to be addressed.

By combining Azure AI’s automation and analytics with iManage’s strict access controls, firms can explore AI-driven efficiencies e.g.automated reporting and client self-service tools, without compromising compliance. This integration allows firms to benefit from AI innovation while maintaining full control over your data, ensuring regulatory requirements are met and critical information remains secure..