This Week in Fintech's Podcast š§ The Fintech and AI Series: Accounting
May 28, 2025
Alex Hagerup is the CEO and co-founder of Vic.ai, focusing on AI innovations in accounting, while Chris Sluty co-founded FloQast to transform compliance reporting in finance. They discuss how AI is reshaping accounting, tackling challenges like ERP integration and the evolving role of the CFO. The duo highlights the need for tailored tech solutions, the importance of real-time data, and the cultural shift toward AI in finance. They also share personal anecdotes and insights on lesser-known AI innovations that could revolutionize the fintech landscape.
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Accounting's Nuanced Complexity
- Accounting seems simple from outside but is very nuanced and complex. - AI fits well due to repetitive, high-volume pattern recognition needs in accounting.
ERP Integrations as Moats
- Building strong ERP integrations is a costly and difficult moat for AI accounting tools. - AI accuracy and trust from consistent historical data is crucial for ROI.
Make ERP Integrations Turnkey
- ERP systems are complex and highly customized, requiring flexible, turnkey integrations. - Focus on enabling finance teams to administer AI tools without heavy IT dependence.