Accounting GPT
Most businesses use accounting tools that have reports. In this era of ChatGPT and Generative AI, where people are saving valuable time by asking questions in ChatGPT, decision-makers are still relying on various reports to make informed decisions. This process is time-consuming, especially when considering the time required to obtain these reports.
That's why AccountingGPT is born. Business owners can connect their accounting tool and quickly start getting answers to all the questions they have, just like they would ask questions in ChatGPT.
We would love to hear your thoughts and inputs!
Also feedback on landing page to join waiting list will be very helpful!
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I’ve got a lot of experience in leading finance and accounting departments.
Accounting and financial reporting needs accuracy and obsessive human diligence. It should never be prone to the sort of hallucinations and automated tone-deafness AI presently displays.
Perhaps in a decade or so, that will change.
Agreed, so you mean to say accuracy is a concern, is that right?
More like human experience, awareness of context, insight and the ability to think laterally in a way computing cannot presently do are all missing.
Accounting and the ability to interpret what accounting reports mean is at the heart of controlling a business, to make sure it does not go wildly off-course.
Given that heart analogy, would you trust your heart surgery to be undertaken by a poorly trained and inexperienced machine, or by an experienced and qualified human?
Makes sense... Just have another question:
Any question can be classified broadly into data questions and decision making questions. Data questions are like what is my bottom line, we calculate and give the data. In case of decision making questions, instead of decisions, what if we equip the users with the data points required to make the decisions, I mean instead of making the decisions, empowering to make correct decisions. In that case will this still be a concern?
Yes, you could categorise questions like that.
But you still need to be very precise in the terminology used. A layperson with no particular accounting knowledge might understand terms like "bottom line" in a vague way because they've heard it in too many bad movies or awful TV business shows. But what does that mean? Does it mean net profit? profit before tax?, gross profit?, contribution?, net cash flow?, EBITDA? Is it the profit in the annual filed accounts, or in the monthly management accounts? If the user does not really understand the difference, how can they expect to get a sensible answer from a machine which also may not understand the difference?
If you follow the path of equipping a human user to make decisions based on supplied data points, what is the advantage of that data provision over simply continuing to use whatever accounting system and accounting reports they have been using for years? If I want to know how much cash we have at the bank, I will look in NetSuite, or Xero, or Sage, or Quickbooks, or Dynamics, or SAP. it's quick and easy. What possible advantage could there be in using a machine to tell me that?
Very valid arguments.
Incase of terminology, we can tell them the calculation steps as well, so that it becomes clear for the user.
Incase of supplying data points, Not always the data points will be very clear and valid when cross referencing reports, so this tool can summarize various reports into one. If you see any GPT's it can comprehend the given data and answer clear questions from it.