The CEO of the unicorn AI accounting startup, Rillet, says AI is changing who consulting firms hire

Nicolas Kopp, CEO of AI-native accounting startup Rillet, asserts that artificial intelligence (AI) is transforming the hiring practices of consulting firms. Rillet, which recently secured $100 million in Series C funding, is developing software that aims to simplify bookkeeping tasks and reduce reliance on legacy ERP systems. Kopp explains that implementing ERP systems in consulting jobs once consumed a significant amount of time, often taking years of a consultant's life to upgrade the software.

Rillet's AI software streamlines this process by updating a company's books in real-time as transactions occur, thus minimizing the need for manual interventions.

As AI continues to streamline routine accounting tasks, consulting firms are seeking professionals with superior domain expertise and technical skills to manage and work alongside AI systems. Rillet is one of several startups employing AI and automation to redirect finance teams away from outdated ERP systems. The company, which has served over 600 customers, including firms from various sectors such as healthcare, financial services, retail, and biotech, has captured half of its clientele from legacy ERP systems like NetSuite, Workday, Oracle Fusion, and Sage Intacct.

Kopp anticipates that the way companies purchase software will evolve as AI-native startups like Rillet automate more tasks, eventually rendering traditional software seat charges obsolete.

In response to the advancement of AI, consulting firms are adapting their hiring strategies. Kopp highlights that the key opportunity for consulting firms in the near term is to focus on change management and implementation, while the long-term goal is to leverage their accumulated accounting knowledge and transfer it into AI-based skill files and agents.

The shift towards AI-driven solutions necessitates a higher bar for accounting professionals, as AI can perform many tasks, making it essential for consultants to have highly skilled accountants and accounting experts. Furthermore, the growing demand for AI-specific talent is expected to continue as consulting firms increasingly collaborate with customers to integrate AI tools, reflecting a broader industry trend of consulting firms hiring more technical specialists to keep pace with the automation of traditional junior work.