Microsoft and AccountsIQ: Transforming Mid-Sized Enterprises into Finance Powerhouses

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A digital beacon of finance innovation is emerging from one of the quiet streets in these cities, and yet it is, in fact, in Dublin, Ireland. AccountsIQ, a software provider of cloud financial management tools, recently announced an impressive $65 million funding to further accelerate its AI-based financial tooling. The company is reinventing the ‘finance function of the future’ for mid-sized businesses worldwide.

The Rise of AccountsIQ: A Journey of Innovation and Growth

Accountants for accountants… that’s how Sales Director Claire Fleming, CFO Mark Weeks and Development Director Simon Howes came up with the name for the company they co-founded almost 20 years ago, on the back of an envelope in a pub. Who was that wise old accountant who so easily cut through the fog to capture AccountsIQ’s origins and future, while proving twelve prophetic insights into the nature of being an accountant? This simple but evocative name has propelled AccountsIQ to the cutting edge of accounting technology transformation. The company can count 1,000 customers, 10,000 companies and 20,000 users, and has grown by an average of 30 per cent every year. Now it has reached the highwater mark for its round of funding on Crowdcube, which will enable the company to benefit from its digital lead in its chosen markets of UK and Ireland, and expanding into the Netherlands and Spain.

MICROSOFT: Powering AccountsIQ's AI-Driven Revolution

A key part of the AccountsIQ strategy is its partnership with Microsoft. AccountsIQ is able to leverage the latest AI tooling from Microsoft and the depth and breadth of the Azure platform to deliver ‘a new era of automated accounting, efficiency and intelligence, from AR and AP to banking, business intelligence, forecasting, budgeting, and more’ for a starting price of about $250 per user per month.

The Power of AI in Accounting

AccountsIQ is in a unique position to deliver these AI-driven innovations and assist SMEs to become future-fit, given its existing suite of services. The aim is to eliminate all repetitive tasks, help finance teams make better decisions and add more value to their organisations. It will also help to reduce labour costs, regardless of the circumstances.

Elevating the Finance Function with MICROSOFT and AccountsIQ

This latest $65 million funding round will help take AccountsIQ’s product and services to the next stage. ‘This injection of funds could not have come at a better time for our proposition as it will help us to bring the power of AI tools into real service offerings that meet practical and everyday needs of our customers’ said found and CEO Tony Connolly. ‘The potential of AccountsIQ and the power of Microsoft AI for re-imagining the finance function for the mid-market is now clearly evident to the market.’

Cutting Through the Competition

Although the sector is super-crowded, the company’s point of difference is that it targets fast-scaling mid-market businesses rather than competitors such as Pennylane, which serves smaller companies. AccountsIQ’s product is aimed at companies that want a structured route forward from finance admin through to process automation and more sophisticated controls, as they scale up.

The Lasting Impact of AI-Enhanced Accounting Solutions

The push towards business efficiency and strategic insight has never been greater, and AccountsIQ’s Microsoft-powered AI-enhanced solutions lie at the forefront of that change, leading the development of next-generation Xero accounting solutions for mid-sized corporates. As businesses seek to establish their foundations and compete in the world’s fraught economy, AccountsIQ’s solutions help finance teams work more productively and provide strategic insight.


Digital transformation, largely driven by large-scale tech corporations like Microsoft, has revolutionised business in recent years. And with a stated objective to ‘empower every person and every organisation on the planet to achieve more’, Microsoft’s technologies have been a major driver of digital disruption for everyone, from private individuals to large global companies. Among Microsoft’s portfolio of game-changing breakthroughs, perhaps two of the most powerful are artificial intelligence and cloud computing – and together, they are transforming many industries. AccountsIQ is proof that Microsoft is taking steps to up the ante, setting a whole new bar for what it means to do more.

To conclude, AccountsIQ, with Microsoft’s ongoing support, is building a new future for the finance function. By leveraging AI, AccountsIQ is not just improving accounting, but is transforming it. AI-based financial management will be smarter, and take up less time – finance will be able to add more value as a result. This is a hugely encouraging investment in both AccountsIQ and Microsoft’s futures, and of course in the thousands of mid-market businesses that will benefit from what they are creating together.

Jun 13, 2024
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