From Bean Counters to Strategic Advisors: How AI and Data Are Transforming the Accounting Profession Elani van der Laan, Head of Legal and Accounting Sectors at Standard Bank

At first glance, accounting would seem a rather staid profession – governed by tradition, ruled by regulation, and measured in balance sheets and bank statements. Yet in South Africa, and across the globe, the profession is undergoing a quiet revolution. Artificial intelligence, cloud platforms, and predictive analytics are transforming accountants from being viewed as passive processors of historical data into active advisors shaping the financial futures of their clients. Nowhere is this shift more evident than at Standard Bank, where technology is being harnessed not only to deliver banking services, but also to meet the evolving business needs of accounting firms.

Elani van der Laan, Head of Legal and Accounting Sectors within Business and Commercial Banking at Standard Bank South Africa, recently articulated this transformation. Speaking from the bank’s headquarters, she outlined how the traditional image of the accountant as a “bean counter” is giving way to a new archetype: the strategic advisor armed with real-time data, embedded systems, and artificial intelligence.

“Accountants can no longer rely solely on mundane processing,” she explains. “They are now becoming strategic partners – using automation to free up time and using data to offer deeper insight.”

This shift is more than semantic. It reflects structural changes in how accounting firms operate and the expectations of their clients. Through its “EDGE” solution, Standard Bank is helping firms obtain secure client mandates – called the “Power of Accountant”- which allow direct access to banking statements and documents. This cuts down on administrative lag and enhances the accountant’s ability to provide timely guidance.

The initiative is part of a broader ecosystem strategy. The bank is integrating its services with commonly used accounting software platforms, creating seamless digital pipelines that allow for automation and faster credit decisioning. In practical terms, this means that accountants can now predict seasonal cash flow dips, model financing scenarios, and help small business clients pre-emptively secure funding.

The implications go beyond operational efficiency. Van der Laan contends that access to real-time financial data is changing how accountants think about their own practices. By analysing patterns across client portfolios, firms can begin advising not only on compliance, but on growth strategy, investment timing, and sustainability.

Such capabilities are no longer reserved for the elite as democratisation has opened these tools to small and medium-sized enterprises (SMEs), a segment Van der Laan believes is central to South Africa’s future economic trajectory. Standard Bank projects that by 2030, up to 80% of the country’s economy could be driven by SMEs. To support this, the bank is investing in partner funding models, enterprise development services, and transformation-linked credit facilities to allow smaller firms to scale.

Yet challenges persist. “Digital adoption within accounting practices is still slower than expected,” she notes, citing reluctance among some firms to fully embrace change. Additionally, access to capital for emerging practices remains constrained, particularly for those who do not fit traditional lending profiles.

Van der Laan sees these gaps as opportunities. One solution she champions is co-rated lending, a model where the bank backs a new auditing partner’s buy-in to a firm, relieving the burden from the individual while enabling the firm to secure talent. “We’re not just offering banking products,” she says. “We’re co-creating growth strategies.”

This co-creation extends into the environmental realm. With ESG (Environmental, Social and Governance) targets looming large – particularly ahead of the 2030 horizon – Standard Bank is embedding sustainability frameworks into its engagement with accounting firms. Whether it is incentivising digital storage over paper, or supporting the transition to solar-powered offices, the bank is trying to ensure its professional clients are not only compliant, but future-fit.

Much of Van der Laan’s message comes down to intentionality. “Be intentional about how you grow,” she advises. “Not every firm wants to become a corporate giant. Some want to stay niche – and that’s fine. But choose your path with purpose.”

It’s a message that resonates beyond the confines of the profession. In an era where digital disruption often arrives with unintended consequences, the recalibration of the accounting industry appears almost measured – gradual, intelligent, and deeply grounded in service. If Standard Bank’s model is any indication, the future of accounting is less about keeping books – and more about keeping pace.