Why technology could make accountants more valuable to businesses

Artificial intelligence is changing many professions, but for accountants, the shift may be less about replacing people and more about redefining where their real value lies.

As automation takes over more of the routine, compliance-driven work traditionally associated with accounting, professionals are being given the opportunity to move closer to the strategic heart of a business.

That was the message from Elani Van Der Laan, Head of the Legal & Accounting Sector at Standard Bank, during her conversation with Jeremy Maggs on HOT Business. The broader transformation is being driven by technology, data and automation, with accountants increasingly expected to become trusted business advisors rather than simply compliance specialists.

Tasks such as producing financial statements, processing information and preparing compliance documentation can increasingly be supported by automated systems and AI. According to Van Der Laan, that creates space for accountants to spend more time interpreting what the numbers actually mean.

For a business owner, the question is no longer simply: “What do my financial statements say?” It is: “What should I do next?”

That could mean identifying revenue leakage, improving profitability, reconsidering supplier costs or finding smarter ways to grow. The accountant of the future is therefore not simply delivering financial information, but helping clients turn that information into better business decisions.

So, what does this shift mean for accountants, their clients and the businesses that increasingly depend on them for strategic guidance?

Jeremy Maggs spoke to Elani Van Der Laan about how AI, automation and data are reshaping the profession — and why the human expertise behind the numbers remains so important. Listen to their conversation below.

For Van Der Laan, the rise of AI does not signal the disappearance of the accountant. Instead, it creates an opportunity for professionals to focus more of their time on the areas where human judgement, experience and relationships matter most.

The briefing supporting the interview reinforces this point: AI is not replacing accountants, but augmenting their capabilities, while human judgement, ethics, relationship management and strategic thinking remain essential.

Data is also becoming an increasingly important part of the relationship between accountants, businesses and banks. Van Der Laan explained that secure integration between banking information, accounting platforms and professional advisors can give businesses faster access to meaningful financial insight.

Standard Bank is working within this broader accounting technology ecosystem, with the aim of reducing administration and helping firms spend more time creating value for their clients. Its approach includes secure access to client information, digital capabilities and partnerships designed to support the evolving needs of accounting practices.

That support could be particularly important for smaller and emerging firms, where the cost of technology and access to growth capital can present challenges. The briefing notes that digital adoption remains uneven across the profession, while funding and new business models remain important considerations for practices looking to grow.

Ultimately, the future of accounting may belong to firms that successfully combine trusted professional expertise with technology-enabled insight — embracing new tools without losing the relationships, judgement and strategic thinking that clients value most.