Most of us do not consider accounting to be a separate line of business. But accounting is big business, in and of itself.

The global accounting services market was expected to grow from $544 billion in 2020 to $573 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%, according to the Accounting Services market global report by Research and Markets. The market is expected to reach $736 billion in 2025 at a CAGR of 6%.

This is a sizable market and is a target for digital transformation. The size of the accounting software market is projected to reach $22.9 billion by 2027, from $14.2 billion in 2020, at a (CAGR) of 7.1% during the forecast period 2021 to 2027, according to Valuates Reports.

The account software market includes companies like Microsoft, Oracle and SAP to Intuit and Xero, plus many others. Yet, there’s something none of these names are applying, says Isaac Heller: AI in accounting. That’s why Isaac Heller and Amir Boldo co-founded Trullion in 2019.

Trullion is attempting to unify “unstructured and structured worlds of accounting by reading PDF or Excel-based contracts and translating them into financial workflows, connected to the data source.”

Read the full article on VentureBeat