In an industry facing talent shortages and mounting pressure to deliver more value, Withum Smith+Brown has emerged as a leader in AI transformation.
A top 25 US accounting firm that has grown from 750 to over 3,000 employees in recent years, Withum is leveraging AI to elevate human roles and enhance client service. CIO Amel Edmond shared how the firm has implemented AI across operations — from automating tax processes to building AI-powered client portals.
The conversation revealed three key themes: the importance of top-down leadership support (and bottom-up innovation), the critical role of governance in AI deployment, and a commitment to technology that leverages talent within the firm.
Key takeaways
- The right strategic AI implementation can elevate human roles and save millions
- Successful AI adoption requires both leadership support and grassroots innovation
- Clean data and strong governance form the essential foundation for AI success
Q&A with Amel Edmond, CIO of Withum Smith+Brown
Q: Can you tell us about Withum’s approach to AI and how it differs from other accounting firms?
A: We have a very strategic mindset towards artificial intelligence. It’s really from two different angles. It’s top down and bottom up. Leadership sees the value in artificial intelligence, but we’re always cautiously optimistic on the actual impact of it. We need to make sure that we have KPIs around it so that we can measure the impact. The good news is our innovation team has a great ROI calculator as well as KPI indicator that tells them exactly how our artificial intelligence has impacted our organization. And truth be told, over the last three and a half years, our innovation team has saved us over $15 million because of their automation and artificial intelligence.
Q: You worked on a reporting automation project for 1099s. What was the challenge, and how did AI help you solve it?
A: There are much fewer people graduating out of college historically, with CPAs or with accounting degrees in general, than there have been historically. That creates a resource shortage.
The advent of artificial intelligence brings about a great opportunity where we can look at processes and audits or even advisory space to try to streamline that and really empower our team not so much to to constantly be focusing on the actual task — or checking off a box or going into an Excel spreadsheet and ensuring all the tasks are being executed effectively.
The goal ultimately is to free up our team to actually own the process and not the task itself.
Q: You’ve mentioned you’re working on a cloud-based audit platform that combines AI and machine learning. What impact have you seen?
A: Our audit team has been one of the first to actually complete an entire audit from beginning to end on the new CaseWare product called the Dynamic Audit Solution. That platform has been fairly revolutionary. If you’re shrinking down the time of engagements, if you’re able to shrink down the cost to your customer, ultimately, you’re able to produce the same amount of work, if not better, because of the consistency and the less human errors — as well as reduce the price of the engagement.
Q: How are you using AI to improve client-facing services?
A: The biggest customer facing product that we’re working on right now actually is being handled by our innovation team… It is going to be a client experience portal. It’s an AI based solution where the client can go into a portal, access all of their information, upload files, have communication or collaboration with the people that are actually involved in their respective jobs or engagement, and have full visibility. So no more cloak and dagger, no more trying to figure out exactly, “Hey, how can I get an itemized bill and how much time did Amel spend?” Everything is there, full disclosure.
Q: There’s often fear that AI will replace jobs. How is Withum addressing these concerns?
A: From a leadership perspective, the message comes directly from the top. Our CEO, Pat Walsh, has been really focused on making a direct message during our town halls saying, listen, AI is not here to replace you. The whole point of this is to really empower our people.
Not having artificial intelligence as part of your technology stack actually turns younger people away. It actually attracts them if you have it as part of your marketing, as part of your onboarding.
Q: What are the key limitations of AI that firms need to understand?
A: AI is based on data. If you don’t have proper data hygiene, AI is not going to work for you. You’re actually hindering yourself to actually get to your end result by not having proper data. So number one, having a full data assessment or an AI readiness, which reveals the data issues if you have any, will actually help you understand what that roadmap potentially could be.
To talk about this a little bit more from a resource side, having the right individuals in the right positions is absolutely critical. A CEO’s position is not necessarily to make technology decisions. It’s to put the right person in place to help guide those technology decisions. Having the wrong person there could be catastrophic by the tune of millions, or tens of millions of dollars, ultimately if you had a long tenure.
If you have clean data, great data governance, the proper people around it, and you have a coalition of individuals focused on leveraging AI effectively, then you have a great recipe for success.
Q: What advice would you give to other CIOs starting AI initiatives?
A: If you’re looking for any AI or technology for that matter, you have to really understand what is the goal of your organization? Where are you trying to be? … Try to be forward thinking. Think about where this platform is going to be in the future and how it will integrate with all other systems that are already in place.
I equate it to having open heart surgery while running the Boston Marathon. It’s very, very difficult for you to rip out your practice management platform while you’re a time and billing based organization.
Looking ahead
Withum’s journey demonstrates that successful AI implementation in professional services demands a comprehensive strategy that addresses cultural change, data governance, and employee empowerment. By focusing on augmenting human capabilities rather than replacing workers, and by maintaining a relentless focus on both client and employee satisfaction, Withum is charting a path that other firms can follow.
As Edmond notes, the firms that will thrive are those that view AI not as a threat, but as an opportunity to elevate their people and deliver unprecedented value to clients.
Learn more about powering financial services with AI here.
