What is spend management?

Business spending includes different types of spend: Strategic spend is usually centralized and managed by C-level executives with dedicated spenders. It can be managed through invoices, wire transfers and purchase orders. Discretionary and operational spend is also centralized, but spending is done by managers and employees during their daily professional lives. It includes card purchases, subscription payments, digital ads, events, office orders, and business travel. Expenses , unlike strategic spend, represent a significant amount of small purchases that can be difficult to track. These include card payments, expense claims, team perks, and travel expenses. Spend management is the process through which companies manage business spending . It takes into account the end-to-end process when someone needs to spend: getting purchase approvals, providing payment methods, submitting and processing invoices, submitting and reimbursing expense claims, chasing receipts and invoices for reconciliation, and assigning the right analytical codes, expense accounts, and VAT rates to all those expenses for bookkeeping. Spend management tools become necessary when the number of employees increases and the need for clear processes, better visibility and control starts to grow for finance teams. Employees need flexible, user-friendly tools, in order to spend easily and be empowered to do their job. That’s when Spendesk can be a good fit.

BlogAI and automation

Will AI steal my finance job?

Chris Dunne

Published on August 20, 2025

AI and automation

The headlines are everywhere. "AI to replace millions of jobs." "Robots coming for finance workers." "Automation threatens accountants."

But before you start polishing your CV or considering a career change, let's cut through the noise. The reality about AI and finance jobs is far more nuanced than the doom-and-gloom headlines suggest.

The implementation gap tells the real story

Here's a telling statistic: while 85% of CFOs express optimism about AI's potential efficiency gains, 61% of finance teams have yet to implement AI into their workflows.

This gap between enthusiasm and action reveals the truth. AI isn't sweeping through finance departments like a tsunami. It's arriving more like a tide – gradual, manageable and full of opportunity for those ready to adapt.

What AI is actually replacing

Let's be honest about what's on the chopping block:

Routine data entry - If your job involves copying and pasting between spreadsheets, AI can do that faster and without coffee breaks.
Basic reconciliations - Bank reconciliations and subledger rollups are prime targets for automation.
Invoice processing - Some companies report reducing invoice processing time from hours to minutes, with error rates dropping by up to 90%.
Standard reporting - Those weekly reports where you pull data from multiple systems? AI can generate these automatically.

But here's the key point: these are tasks, not entire jobs.

The transformation is already happening

An MIT/Stanford study found that AI cuts monthly financial close time by 7.5 days for accounting firms using the technology. AI-using accountants now support 55% more clients per week compared to non-users.

This isn't about job losses. It's about job evolution.

Why finance teams remain cautious

When venture capital partner Ivan Makarov asked on LinkedIn why finance teams are slow to adopt AI, the responses were revealing:

Zero tolerance for errors in finance
Legacy systems that aren't AI-friendly
Need for transparency to satisfy auditors
Lack of AI solutions that clearly outperform existing methods

These concerns are valid. But they're also temporary barriers, not permanent roadblocks.

The human advantage remains strong

Despite AI's capabilities, certain skills remain uniquely human:

Critical thinking and judgement - AI can tell you what happened in your numbers. It can't tell you what it means for your business strategy.
Relationship building - Machines don't read body language, pick up on client concerns, or build trust through shared experiences.
Ethical decision-making - When AI flags a questionable transaction, humans must weigh the reputational risks and regulatory implications.
Strategic oversight - AI systems require human guidance to ensure they're making fair, unbiased decisions.

New opportunities are emerging

As AI handles routine tasks, exciting new positions are appearing:

AI compliance officers - Ensuring AI systems follow regulations and make ethical decisions.
Data strategy consultants - Bridging the gap between AI capabilities and business needs.
Model risk managers - Auditing AI decisions and understanding when algorithms get it wrong.
AI champions - Leading adoption and training efforts within finance teams.

The collaboration opportunity

The smartest finance teams aren't replacing people with AI – they're giving their people superpowers.

Think of AI as your tireless assistant. It handles the grunt work whilst you focus on:

Strategic analysis and planning
Stakeholder communication
Complex problem-solving
Business partnering

Anne-Claire Chanvin, founder of Finup360, puts this transformation in perspective: "This shift is as big as when Excel was introduced in the 1980s. It completely transformed how they worked, and today AI is bringing the same kind of change."

Skills that future-proof your career

To thrive in an AI-enhanced finance world, focus on developing:

AI literacy - You don't need to code, but understanding how AI works gives you a massive advantage.
Data analysis skills - Learning tools like Power BI will make you invaluable.
Communication abilities - As AI handles number-crunching, explaining insights becomes more important.
Strategic thinking - Moving from "what happened?" to "what should we do about it?"

The wage premium reality

Here's encouraging news: according to PwC's 2025 Global AI Jobs Barometer, workers with AI skills command a 56% wage premium compared to those without. This premium has more than doubled from 25% last year.

Industries most exposed to AI are seeing wages rise twice as fast as those least exposed. Far from devaluing workers, AI is making skilled professionals more valuable.

Practical steps to stay ahead

Don't wait for the perfect moment or comprehensive training programme. You can start building AI skills today with these actionable steps:

Start small - Identify one tedious task you could automate. Perhaps it's updating a monthly report or controlling employee expenses.
Learn continuously - Dedicate 30 minutes weekly to understanding AI tools. Try ChatGPT for writing variance commentaries.
Volunteer for projects - Join process improvement initiatives. Shadow colleagues using new technologies.
Become an AI champion - Lead adoption efforts within your team and explore finance automation opportunities.

Real-world success stories

Financial institutions are already seeing impressive results:

100% file review for compliance (vs 10-20% manual review)
Real-time fraud detection with fewer false positives
Personalised customer journeys that improve satisfaction
Automated financial operations that free up strategic time

These aren't job-stealing scenarios. They're job-enhancing realities.

Final thoughts

Will AI steal your finance job? Probably not. Will it change how you work? Absolutely.

The professionals who thrive will be those who embrace AI as a powerful tool rather than fear it as a threat. They'll focus on uniquely human skills whilst leveraging technology to eliminate drudgery.

The future belongs to finance professionals who can speak both the language of business and the language of AI. Those who can interpret machine outputs, provide context, and make the strategic decisions that drive businesses forward.

Rather than asking "Will AI replace me?", ask "How can AI make me better?" The answer might surprise you.

The transformation is happening whether you're ready or not. The question isn't whether to adapt – it's how quickly you can turn AI from a perceived threat into your competitive advantage.

Your finance career isn't ending. It's evolving. And for those ready to grow with it, the opportunities have never been more exciting.

Ready to unlock the power of AI for your finance team? Explore how Spendesk's AI-powered spend management platform can streamline your operations, automate expense processing, and provide valuable insights that free you to focus on strategic decision-making rather than manual data entry.

AI and automation

Chris Dunne

Chris Dunne is our Content Marketing Manager. Based in Derry, he brings over 15 years of marketing experience to our content strategy. Outside of work, Chris loves spending time with his two young children, playing football, and exploring Ireland. Chris is an expert in financial strategy and spend management.

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Business spending includes different types of spend:

Strategic spend is usually centralized and managed by C-level executives with dedicated spenders. It can be managed through invoices, wire transfers and purchase orders.
Discretionary and operational spend is also centralized, but spending is done by managers and employees during their daily professional lives. It includes card purchases, subscription payments, digital ads, events, office orders, and business travel.
Expenses, unlike strategic spend, represent a significant amount of small purchases that can be difficult to track. These include card payments, expense claims, team perks, and travel expenses.

Spend management is the process through which companies manage business spending. It takes into account the end-to-end process when someone needs to spend: getting purchase approvals, providing payment methods, submitting and processing invoices, submitting and reimbursing expense claims, chasing receipts and invoices for reconciliation, and assigning the right analytical codes, expense accounts, and VAT rates to all those expenses for bookkeeping.

Spend management tools become necessary when the number of employees increases and the need for clear processes, better visibility and control starts to grow for finance teams.

Employees need flexible, user-friendly tools, in order to spend easily and be empowered to do their job.

That’s when Spendesk can be a good fit.

Spendesk provides payment methods for modern businesses, and a powerful platform for finance teams to manage spending. This includes debit cards to replace old-fashioned company credit cards, virtual cards for online purchases, and automated expense reports for unexpected payments.

For employees
Employees no longer need to spend out-of-pocket. They request funds for a particular purchase, and can use their Spendesk card or virtual card to execute the payment.

If for any reason the employee can’t use their Spendesk card, they snap a picture of the receipt via the Spendesk mobile app and create an expense claim on the spot. This is sent directly to their manager for validation, and on to the finance team.

For finance teams
Each employee has their own Spendesk profile and debit expense card. So unlike the company credit card, you always know who’s spending company money.

The platform lets controllers create spending limits and pre-approvals. C-Level executives or managers will have a different level of pre-approved spend from other staff. Should a team member need to go over their pre-approved budget, they can make a request to their manager via the mobile app or the platform online.

When an expense is made with a Spendesk card, the employee simply snaps a picture of the receipt at the time of purchase. Which means no more lost receipts.

Finance teams can see real-time company spend and follow up on missing receipts or invoices by sending reminders to employees via the platform.

Reviewing expenses is also easier as finance teams can group expenses and assign them the right VAT rates and expense accounts before exporting everything easily to their accounting tools.

Spendesk streamlines the whole business spending process, making spend management intuitive, simple and efficient.