‘Autonomous accounting’ platform Vic ai raises $50M round led by ICONIQ Growth

We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase. ” episode of Vic.ai’s Intellibytes video series, we summarize the revolutionary impact of AI-driven automation on accounting processes. Before diving into the world of automation, it’s important to evaluate where your organization currently stands. This assessment will help determine how ready your accounting processes are for transformation and which areas require the most Online Accounting attention. Discover how accountants can develop essential AI skills for 2025 and beyond. Learn specific technical abilities, strategic competencies, and practical upskilling steps to transform from data processor to strategic advisor in the age of AI-powered accounting.

Best Tools For Data Cleaning for Analysts

• A mid-sized retailer needs specific approval rules for Capital Expenditure (CapEx).
• Most CFOs have heard the pitch—automated reports, faster processing, fewer manual tasks.
• Its user-friendly interface makes it a top choice for growing businesses.
• Its power is unlocked through its deep connection to your core financial system, your ERP.
• The system uses AI to generate invoices, pulling in customer details, pricing and payment terms with minimal user input.

The cost is based on your monthly invoice volume, the number of business entities, and the complexity of your ERP integration. You should approach the conversation with a focus on ROI, as the platform often pays for itself in 6-9 months through cost savings. For companies with unique needs or homegrown systems, Vic.ai also offers a robust Application Programming Interface (API). This allows your development team to build custom connections and workflows. This flexibility is a key advantage for large, complex organizations.

Financial Consolidation & Reporting

The idea isn’t just to raise a red flag, but to step in and keep things on track. For companies aiming to reduce manual work and tighten their month-end processes, automation has helped—but only up to a point. HighRadius’ Autonomous Accounting Solution takes things further by introducing AI agents that not only assist with tasks but begin to manage them more independently. What sets agentic AI apart is its ability to operate with intent.

First Steps to Implementation

What if accounting in the finance sector could be completely automated? These technologies are reshaping how organisations operate—automating data entry, delivering real-time financial analytics, and enabling a shift toward continuous accounting. This AI assistant provides conversational interaction for common accounting tasks while offering predictive insights and personalized recommendations based on historical data patterns. It can handle complex queries about financial data and automate routine communications with clients. Trullion has emerged as a groundbreaking platform in lease accounting automation. The system can analyze complex lease contracts, automatically extracting critical terms and generating required journal entries – a task that traditionally required hours of manual review.

The 11 Best Accounting Automation Tools for 2025

Whereas AI technology is developing to become more advanced, a hybrid model—where AI handles routine work while accountants offer strategic counsel—now is the best option. AI is employed to augment human abilities rather than displace them. Look for AI accounting providers that can handle core accounting tasks like reconciliation, expense categorization, and report generation while syncing seamlessly with the Foreign Currency Translation platforms your team already relies on.

• Spending hours cleaning up exceptions, chasing unmatched items and still relying on spreadsheets and rule-based tools means businesses are still firefighting while their legacy systems hold them back.
• I found Truewind’s ability to learn from previous inputs particularly valuable, as it gets better at categorizing transactions over time.
• Accounting automation is a necessity for firms that want to stay competitive in 2025.
• HighRadius stands out as an IDC MarketScape Leader for AR Automation Software, serving both large and midsized businesses.
• These models, among other things, are trained to find similar transactions or vendors to avoid the need to manually categorize every expense.
• For many CFOs, automation feels like a box that’s already been checked.

This means, businesses can reduce audit adjustments by 60%, while paving the way for early mitigation and improving reporting accuracy. Even with automated account reconciliation, exception queues keep growing. Traditional systems can’t resolve what they don’t fully understand—so accountants stay buried in follow-ups. Digits is the best way to get started with AI accounting because it’s purpose-built, accurate, and includes all of the features a business might be looking for. It can be hard for teams to trust that a machine is doing things correctly.

This paradigm shift is driven by the need for greater efficiency, accuracy, and agility in financial operations. That said, there remains one very important, and perhaps troubling dependency…. Continuous autonomous accounting Accounting is still a human-centric endeavor, with accounting professionals engaged as the centerpiece of the activity itself. True, the relatively primitive workflow in most CA tools does reduce some human effort. However, the fact remains that in Continuous Accounting, as it exists today, the humans are still doing the heavy-lifting. Zeni is an AI-driven financial management platform for startups, providing real-time insights and automated bookkeeping.

I found Truewind’s ability to learn from previous inputs particularly valuable, as it gets better at categorizing transactions over time. The digital accountant concept really shines during month-end close, absorbing transaction work and making capacity planning more predictable than other AI accounting tools I’ve tested. Digits is an AI-powered accounting platform that combines automated transaction categorization with expert CPA oversight to streamline financial management for businesses.