• $3 out of every $5 spent on accounting is wasted on manual tasks, leading to billions lost in errors, overpayments, and underbillings.
• We are next-generation accounting tech that replaces traditional offshore accountants with AI that can automatically and instantly clean and record transactions, reconcile the books, and report on financial performance.
• With unparalleled speed and accuracy, Patterns is revolutionizing the economics of accounting, enabling accounting firms to scale like never before and do more with less.

The Market for Accountants in Crisis

• AICPA says that 75% of current CPAs will retire in the next 15 years.
• Meanwhile, the number of new CPA candidates
• The career path for US-based accountants is broken, leading to a talent drought in domestic accounting.
• Offshore accounting, despite its popularity, is fraught with scalability issues, data security risks, and its own labor market challenges.

Offshoring is unsustainable

Offshoring promises efficiency but delivers a nightmare of miscommunication, errors, and endless hand-holding. What you save in salary, you pay for tenfold in frustration and rework.

• 60% of accounting spend spent on manual tasks.
• Quality suffers as manual processes lead to a 5-7% error rate.
• 30% idle capacity in offshore teams, compounded by a staggering 70% annual churn rate.
• Long-term impact to non-compliance due to inconsistent processes as talent turns over.
• 50% of companies report security incidents related to offshore activities.

AI Will Redefine the Economics of Accounting

• Automatically record transactions, reconcile, close the books, and generate reports 100x faster and more accurate than human operators.
• Patterns converts your outsourced accounting function from an unscalable fixed cost with overhead to a variable on-demand cost capable of infinite scale:
  • Scalability: Costs scale with transaction volume, allowing for better handling of peak periods.
  • Improved Accuracy: AI reduces human errors in routine tasks.
  • 24/7 Availability: AI can process work around the clock.
  • Focus on Strategy and business growth: Human accountants can focus on complex, high-value tasks.

But only if it has clean data to work with

Introducing Patterns: A Composable General Ledger and AI-Powered Accounting Data Engine