AI tools for finance teams and CFOs in the UK

UK finance teams and CFOs mainly use three kinds of AI tool: general assistants such as Microsoft 365 Copilot, ChatGPT and Claude on business plans, AI features built into accounting software, and AI agents that automate tasks such as invoice matching. ICAEW puts a business licence for a general assistant at roughly £20 to £30 per person a month. This page lists the options alphabetically, with prices from each provider’s own page checked on 6 November 2026, and the controls a finance team needs.

What AI tools do finance teams use?

Finance teams use AI tools in three groups. The table sets them out.

ICAEW’s April 2026 article names six general-purpose tools in use: ChatGPT, Microsoft Copilot, Gemini, Perplexity, Claude and Grok. It recommends business or enterprise licences for these, alongside any AI already built into your accounting software.

What do AI assistants cost on business plans?

Business plans cost around £20 to £30 per person a month, according to ICAEW. These are the providers’ own published prices, listed alphabetically.

• ChatGPT. OpenAI’s pricing page says Business plans are priced per user per month and start at 2 users, with Enterprise on annual contracts by quote. It did not display a figure when we checked.
• Claude. Anthropic’s pricing page lists Team Standard seats at $20 a seat a month billed annually, and Premium seats at $100. Team and Enterprise plans have no model training on your data by default. Prices are in US dollars.
• Microsoft 365 Copilot. Microsoft’s UK page lists the add-on at £23.10 per user a month, paid yearly and excluding VAT. It includes Copilot in Excel and pre-built agents including Analyst and Finance agents. See our Microsoft Copilot review.

What AI is built into accounting software?

Most cloud accounting packages now include AI features, often at no extra charge on existing plans. Two recent examples:

• QuickBooks. UK customers have had AI agents since 14 November 2025, including a VAT agent that flags differences before you file. Read our report on Intuit’s AI agents.
• Xero. Xero launched a Google Gemini connected app on 14 October 2026, but not in the UK yet. Read Xero and Google Gemini.

Check what your existing software already does before you buy another tool.

What can AI agents do for a finance team?

AI agents carry out multi-step tasks rather than just answering questions. ICAEW’s July 2026 article sets out four use cases:

1. Supplier invoice verification. Match invoices to purchase orders and receipts, flag mismatches and draft supplier queries.
2. Transaction monitoring. Watch cross-border accounts in real time and flag balance mismatches before month-end.
3. Month-end close checks. Detect anomalies early, such as an expected subscription invoice that has not arrived.
4. Long-term issues. Scan for cost leakage and model scenarios, such as the margin effect of a price change.

The same article warns that badly set-up agents can damage systems and data, and that each agent needs a named human in the loop. Our guide to AI agents in accounting goes further.

How should a CFO roll out AI?

ICAEW’s advice is to start with your workflows, not the tools. Follow these steps:

1. Map where time goes. Find repetitive tasks in close, reporting and payables.
2. List use cases. ICAEW suggests 15 to 25 per person, ranked by time saved, build effort and risk.
3. Buy, do not build. Most finance teams should adopt existing tools.
4. Pilot on dummy data before using real financial data.
5. Scale what works and keep reviewing it.
6. Train on live work, with defined review steps.

What controls do you need?

You need controls because AI can give plausible answers that are wrong. ICAEW says professional scepticism must be central as work shifts from preparation to review. Use this checklist:

• Check every AI-generated formula; ICAEW’s article suggests colour-coding formulas and hard-coded values.
• Add a validation tab with pass or fail checks, such as subtotals matching totals.
• Record what was reviewed, what changed and where a person intervened.
• Use business plans that do not train on your data, and set a written AI policy.
• Follow the ICO’s AI guidance and its AI and data protection risk toolkit if you use personal data.

Read our guide on ChatGPT and client data safety.

Which approach applies to you?

The right starting point depends on what you already pay for.

• If your firm already uses Microsoft 365, trial Copilot in Excel first.
• If you mainly need analysis and drafting, compare business plans of ChatGPT and Claude on a short pilot.
• If invoice processing takes the most time, look at the AI features in your accounting or payables software.
• If you handle client or employee personal data, complete a data protection risk assessment before any pilot.

Frequently asked questions

Which AI tool should a finance team choose?

There is no single answer. ICAEW advises choosing tools by use case, ranked by time saved, effort and risk, and using business or enterprise licences.

How much does AI cost for a finance team?

ICAEW puts general AI assistant business licences at about £20 to £30 per person a month. Microsoft 365 Copilot is £23.10 per user a month, paid yearly and excluding VAT.

Is it safe to put company financial data into AI tools?

Only on plans with suitable data terms. Claude Team and Enterprise do not train on your data by default; check each provider’s terms and follow ICO guidance for personal data.

What can AI agents do in finance?

ICAEW lists invoice matching, transaction monitoring, month-end close checks and spotting long-term cost leakage, all with a human reviewing exceptions.

Should finance teams build their own AI tools?

Usually not. ICAEW’s April 2026 article says most finance teams should buy existing tools rather than build their own.