Episode 58

full
Published on:

9th Jun 2023

Enhancing Efficiency With AI Automation

In this episode, Damien and Penny explore the changing job environment due to the increasing use of AI in accounting and tax processes. They share their experiences with Carbon, an AI-powered workflow tool that some of their clients are using.

The conversation dives into the potential of AI to automate tasks in the accounting process, such as checklists, emails, and other administrative tasks that would allow accountants to spend more time on the work they were trained for.


Tune in as Damien and Penny as they discuss using AI in accounting and how it can save practitioners time and effort!


[00:01 - 04:57] Opening Segment

  • Damien and Penny discuss how AI is being implemented in different apps to automate communications
  • Carbon is one of the workflow tools being used with AI technology to write emails and summarize client communication into bullet points  


[04:58 - 27:04] How Practitioners Are Leveraging AI To Automate Communication And Workflow

  • How AI is being used to automate administrative functions and emails
  • A seamless experience for clients
  • It is easier for team leaders, less administrative time, and more detail is put in
  • AI is taking a part of the job that doesn’t require much training, such as administrative tasks


[27:05 - 28:01] Enhancing Efficiency With AI Automation

  • AI can help with communication and marketing
  • AI has yet to separate itself based on sales receipts or review transactions
  • Embracing the benefits of AI in communication and administrative tasks
  • Accountants need to be trained to become KPOs (Knowledge Process Outsourcing)


[28:02 - 40:56] Closing Segment

  • Damien and Penny explore how AI is being used in accounting and how it can save practitioners time and effort!


Tweetable Quotes

“Give me something more, give me something that a bot can't do. Show me that you didn't just click a button, that you actually considered what you were doing when you did it based on what you know about the client because that is what you're getting paid for.” - Penny Breslin


“ At the end of the day, there's going to be so much nuance in each and every client that yes, it might, maybe 60% of transactions, that's fine. But I think we've been doing that for a long time already. I don't see the same speed to market in that space as I do on say, the comms and the administrative capabilities of AI.” – Damien Greathead


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Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57

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About the Podcast

It's not Just the Numbers
Focused on CAS, this accounting podcast helps firm owners build their accounting and bookkeeping business with intention
It’s Not Just the Numbers is a podcast for accounting firm owners, leaders, and professionals building modern firms beyond compliance.

Hosted by Damien Greathead and Penny Breslin, the show explores what it really takes to create a sustainable, advisory-driven accounting practice in a profession undergoing rapid change. From technology, systems, workflow, and pricing strategy to leadership, client experience, staffing, and the future role of the accountant — this podcast goes beyond the spreadsheets and into the real conversations shaping the profession.

Each episode features practical insights, honest discussions, and lessons from firm owners, industry experts, technology leaders, and operators working at the forefront of modern accounting.

Whether you’re building a Client Advisory Services (CAS) practice, refining your operations, navigating AI and automation, or simply trying to build a better firm, It’s Not Just the Numbers delivers thoughtful conversations grounded in real-world experience.

Because the future of accounting isn’t just about compliance.

It’s about strategy.
It’s about relationships.
It’s about systems.
It’s about leadership.
And ultimately, it’s not just the numbers.

A Beyond Numbers podcast.

About your hosts

Penny Breslin

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Penny Breslin is the founder of MoneyPenny, a consulting firm specializing in helping accounting firms and other businesses embrace the power of technology to simplify their operations and increase their profit margins.

Drawing on her years of experience and her knowledge of what it takes to run a successful business, Penny oversees the development of back office processes for her client firms. From the initial evaluation of the firm’s workflow, to technology selection, and assisting in the on-boarding of the firm’s clients, Penny works with her clients to maximize the benefits of a paperless and cloud-based firm.

Damien Greathead

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Damien has been working in the accounting industry for more than 15 years. In addition to getting his hands dirty preparing tax returns and doing bookkeeping, but the bulk of his experience comes from consulting to both accounting firms and the technology companies that serve the industry.

He set up 2020 Group USA which was a membership group for small and medium sized accounting firms and then went on to set up Receipt Bank (now Dext) in North America.

He regularly speaks to industry bodies on technology, marketing and change management.