VC says CFO software still has gaps AI won't close

CFO software still has room for new entrants, per Norwest partner Sean Jacobsohn. He named ERP, sales tax, treasury and procurement as the open categories. On-premise incumbents there, NetSuite, Sage, SAP, Workday, ADP and UKG, have aged out, he said in a Crunchbase News interview.

Norwest manages $15.5 billion, and Jacobsohn doesn't argue AI shrinks finance headcount. He says it makes each person more leveraged.

Jacobsohn draws a specific line on AI's role. "You can't rely on AI for that," he said, when a number has to be exactly right.

The categories stay open because the incumbents are old, not because AI can do the job unsupervised. The switching decision, ripping out NetSuite or SAP for something new, still runs on accuracy guarantees software has to earn.

The Crunchbase piece doesn't name which startups Norwest is backing in these categories. It also doesn't say what accuracy threshold would change his mind about trusting AI with compliance-grade numbers.