Minimising Errors & Saving Time for Accountants
Client & Role
- Accounting AI
- Solo Designer
Timeframe & Status
- 1 week, April 2023
(Ongoing development)
Process
- Competitor Research
- Stakeholder Interviews
- Wireframes
- UI Design
Ask anything about IFRS and get instant, clear answers
Accounting AI is a web application powered by artificial intelligence, aimed at providing clear answers to questions regarding International Financial Reporting Standards (IFRS).
Users can ask questions related to IFRS in the search bar, and the tool searches through the IFRS dataset to locate the relevant information, minimising errors commonly associated with AI to deliver trustworthy responses.
It delivers the answer to the user along with specific references to IFRS sections and providing direct links to the standard for in-depth review.
We focused on the MVP to test concepts and collect user insights
I assisted the project's two developers with the design of the landing page and the MVP web-application.
We focused on creating a simple and clean interface for the initial version, which facilitated quick development.
The primary goal with the MVP at this stage was to test the concepts and gather user feedback on the product.
Tiresome and time consuming research
Accountants routinely have to reference a large body of accounting standards (most commonly IFRS) in order to correctly handle accounting problems.
Overwhelming
International Financial Reporting Standards (IFRS) documents are comprehensive, detailed, and often complex, with numerous standards, interpretations, and amendments that professionals must understand and apply.
The intricacies can be overwhelming, as they cover a broad range of accounting activities and scenarios.
Time consuming
Accountants have to find relevant sections in documentation and interpret standards to their own unique business use case, which tends to be cumbersome work and may occur multiple times a day.
Potential for human error
Accuracy is paramount in financial reporting and accounting. Any misinterpretation of these standards can lead to significant errors in financial statements, potentially resulting in legal repercussions or financial loss.
Manual searches through dense and complex IFRS documents are not only time-consuming but also prone to human error.
Enter AI: Out with the old, in with the new
Intelligent Assistant
Artificial Intelligence can interpret and analyse vast amounts of text much faster and more accurately than humans can. In the context of IFRS documents, AI can serve as an intelligent assistant that rapidly sifts through extensive documentation to find relevant information.
Accounting AI's application uses IFRS documents as a dataset to ensure that the answers are accurate and dependable.
The application can minimise the errors commonly associated with the manual processing of information. It eliminates the biases and fatigue that often lead to mistakes in human analysis.
By simplifying this process accountants are able to get consistent and reliable answers to their questions.
The tool addresses the problem of having to search for and interpret the standard, and provides verifiable references to the source material.
My goal
I had a few things that I wanted to focus on with the design of the MVP.
- Efficient navigation
- Feedback mechanisms
We wanted to incorporate ways for users to provide feedback on the responses, contributing to the system's continuous learning and improvement. - Transparency & Trust
Ensure that users understand how the application arrived at the answers by showing match scores and a link to the original source.
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