Accounting in today’s business world is going through a lot of change. With AI being the star of the show, companies are finding fresh ways to simplify their processes, handle cash flow better, and keep up in a competitive market. But what does this change really look like in practice?
In the recent Synder webinar “Transforming Accounting: Process Optimization and AI Integration”, we explored some expert insights on how process optimization and tools like Synder are totally changing up accounting practices.
Meet the guest speaker
Ben Sternberg, CPA, is the co-founder of Eight Figure Finance with over seven years of experience as a forensic accountant. He focuses on optimizing financial processes, cash flow management, and reengineering records for companies to make wiser data-driven decisions.
Tackling cash flow problems
For many companies, cash flow is a perpetual fight. Ben Sternberg knows this battle all too well. “An easy way to manage cash flow in general is just to knock down your collecting time,” he explains. Whether it’s requesting clients to pay partial or asking for shorter payment terms—like net 7—getting paid faster can make all the difference.
“Saving a credit card on file could be helpful,” he adds, pointing to a practical solution that will ensure faster and more predictable payments from clients. Delays are limited, the probability of late payments is reduced, and businesses can stay consistent in maintaining cash flow—which is quite important for covering operational expenses, reinvesting in growth, and avoiding financial strains. It also provides a better customer experience since it makes payment procedures easier, establishes trust, and removes friction in financial transactions.
You also have to keep at bay overexpansion—a siren’s call that most businesses in growth mode answer. “You want to know the actual productivity and output that you’re getting per employee. Do you have too many employees? Are you getting enough out of them?” he asks. ROI allows companies to determine value in a way that projects and investments can be pursued with purpose, as only then resources can be allocated most proficiently.
Just as important is budgeting and forecasting. “Making sure that you can forecast the future and also you’re hitting those marks,” helps Ben Sternberg certainly avoid any cash flow crisis. It’s not just setting revenue targets—it’s ensuring that the way to reach them is sustainable.
Smarter accounts receivable management
When it comes to optimizing accounts receivable, Ben doesn’t mince words: “Get rid of net terms,” he says. So, whether you’re thinking of going with net 7, automating your reminders, or even changing up your revenue model to add subscriptions, the aim is to get paid faster.
Delays in accounts receivable can cause businesses to have severe cash flow problems, making it very hard for them to pay essential expenses, such as payroll. Reliance on net 30 terms, when paid late, essentially turns a business into a financier for its clients. By moving to shorter payment terms and requiring upfront partial payments, businesses will avoid these pitfalls, stabilize cash flow, and reduce the stress of chasing overdue invoices.
What is most important to Sternberg, however, is simple communication. He even provides a script he gives to his clients: “I want to service you better and I want to provide you with the best care for it because you’re my client, and me chasing you down for payment is not helping both of us.” It’s remarkably candid yet professional in establishing expectations and maintaining a solid relationship with the client.
Automation also helps make accounts receivable more efficient through automated reminders, simplification of payments collection, and even sending out reminders for late fees to spur on-time payments.
The key to financial clarity: A skilled bookkeeper and the right tools
As Ben Sternberg puts it, “Hiring a really good bookkeeper can be a make or break.” With this, he and his team always keep the clients in the loop by updating them once a week, so at any moment in time, the client is quite aware of how their finances are looking.
Even so, Sternberg knows that even the best bookkeepers—just like any other professional—need the right tools to get the job done. With AI taking center stage, businesses are finding new ways to smooth out processes, manage cash flow, and stay ahead of the curve. And Ben gives a nod to one such tool: “Shout out to Synder because you’ve transformed my business with the integration tools that you have.” And now we’ll explain why.
What’s Synder?
Synder has been the partner that businesses trust to make their accounting easier. It takes care of heavy lifting by syncing transactions coming from multiple sources and integrates with more than 30 popular platforms like QuickBooks or Stripe, bringing all financial data together into one source of truth. It also automates invoicing processes, ensuring clients are billed promptly and accurately, reducing the risk of missed or delayed invoices.
For bookkeepers and accountants, it’s like having a colleague who helps cut down on manual labor, saves time, and keeps financial records clean and accurate. No wonder tools like Synder become a must-have for those in the business of managing money today.
Sounds like Synder can solve your pain points? Sign up for a 15-day free trial with no commitment or join our Weekly Public Demo to learn how to customize the tool for your particular needs.
AI: A partner, not a replacement
While tools like Synder are game-changers when it comes to streamlining financial workflows, let’s not forget that, as with any automation or AI, this isn’t about replacing humans but rather augmenting the work accountants and bookkeepers can do.
Research shows that 8% of, for example, tax accounting firms have already started using GenAI tech, and another 13% are considering doing so soon. More than half—51% of accounting firms—acknowledge that tech makes things run smoother and helps with client service.
For sure, AI in accounting is really changing the game, but Ben is clear about its limitations. “AI is transforming everywhere. Every industry, every piece of technology is becoming AI,” he says. No doubt, AI is good at doing things like sorting transactions and balancing bank accounts, but he wants to emphasize how important it is to involve humans: “I’m still not 100% there that it can take out the human at the moment.”
Sternberg is a firm believer in the use of AI as a tool to complement human capabilities, and Synder represents this approach by automating what’s repetitive and leaving room for human review.
Faster decisions, better results
Integrating AI into accounting isn’t just about automating routine tasks— it’s really about helping businesses make quicker, smarter choices. As Ben Sternberg says, “The faster you get the reporting, the faster you get the data, the faster you can then make decisions.” When you have accurate financial information right there in real time, you can jump on opportunities or tackle problems without delay.
Of course, adopting AI can be a bit of a headache. Ben suggests seeking advice from pros and, as he puts it, “It’s easier to pay someone and get the answers rather quickly and correctly than to go figure it out yourself.” Businesses can unlock the full potential of AI—make better decisions with confidence and witness tangible benefits—if they choose the right tools and configure them properly.
The human element matters
While AI is really getting into the accounting scene, it’s not going to take over everything. Ben Sternberg made that pretty clear: “I don’t think humans will be replaced.” He actually sees a future where AI and people team up, with AI handling all the routine procedures while accountants can dive into strategy, decision-making, and bringing value in ways that machines just can’t.
AI can be a powerful tool in bringing up efficiency and improving processes, but it’s humans who direct how it’s used and ensure it provides meaningful results. Accountants bring the critical thinking, context, and relationship-building skills that no machine can replicate. As businesses continue to embrace AI, the human element will remain essential for interpreting data, making informed decisions, and keeping innovation grounded in real-world needs.
With a world increasingly driven by technology, it’ll really be a combination of AI accuracy and human approach that’s going to define the future of accounting—and make it way better than before.
Final thoughts
Accounting is changing, and the changes are happening right now. AI is shaking up how businesses deal with their finances—making things quicker, smarter, and easier. But as powerful as tech is, it’s really the human touch that ties everything together. AI can take care of the tedious tasks, but it’s people who take decisions, make sense of data, and come up with the game plans that push businesses ahead.
When it comes to cash flow, automating invoices, or making decisions on the fly, it’s the combination of automated tools and smart people that helps a business stay ahead. The future of accounting isn’t just about tech—it’s about finding the perfect balance between what AI does best and what humans bring to the table.
So, why wait? Tools like Synder are designed to help you level up your business. It’s time to go with the change, work smarter, and zero in on the things that truly matter in growing and thriving in this crazy-fast world. The future of accounting is here, and it’s yours to shape.
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