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FINOM Introduces Automated Accounting: The Future of Financial Management for Entrepreneurs

FINOM is the first European financial services provider to offer an AI Accounting Agent that streamlines financial management and automates accounting workflows for freelancers and small businesses. The AI Accounting agent will first launch in Germany, Europe's largest SME market.  Join our waitlist starting today, with the service scheduled to launch by Q2, 2025.

Managing finances while building a business creates a frustrating choice for entrepreneurs: spend valuable time on bookkeeping or pay expensive accountants to handle it. That's why we are launching our groundbreaking AI Accounting agent, designed specifically to revolutionize financial management for freelancers and small businesses.

The Challenge of Modern Financial Management

In the European Union, SMEs make up 99% of all businesses, and, according to the European Commission, employ approximately two-thirds of the workforce, forming the backbone of the economy. Yet, the EU’s diverse and often complex tax regulations can place disproportionate burdens on smaller companies. An OECD study found that SMEs spend up to 5% of their annual turnover on administrative tasks, including accounting and tax compliance.

In addition, the EU's overall SME digitalization rate is reported at 2.5% annually - half the speed needed to meet 2030 Digital Decade targets. Many of the processes remain manual in SME financial management. The alternative? Specialized accounting services charging high fees. Our recent research revealed that 85% of freelancers find current accounting solutions overly complex, while 58% spend between €500-€3000 annually on accounting and bookkeeping services. These numbers tell a clear story - small businesses need a better solution.

Enter FINOM's AI Accounting Agent: Proactive, not reactive

Our new AI Accounting agent represents a fundamental shift in financial management. Instead of choosing between expensive tax advisors or basic self-service tools, businesses can now access a sophisticated system that works proactively on their behalf.

Instead of waiting for the user to input the correct data, Finom’s AI Accounting agent automatically handles routine tasks, providing timely notifications, and seeking user confirmation only when necessary. This evolution from reactive to proactive financial management frees entrepreneurs allowing them to focus on the things that they actually want to be spending their time on, building their business.  

Key Features That Make a Difference

Our AI Accounting agent handles the complete accounting cycle, offering capabilities that previously required professional support. It comes packed with features designed to make financial management effortless:

  • Smart transaction categorization

Automated receipt and invoice recognition and reconciliation classifies financial data in real-time, reducing the chance of human error and saving hours of manual input.

  • Intelligent bookkeeping record creation

Records are generated based on your specific business type, ensuring compliance with both national and EU-level regulations.

  • Automated tax payment management

Through TaxWallet, tax contributions are calculated and scheduled, minimizing late fees and potential cash-flow surprises.

  • Real-time deadline tracking and compliance notifications

The system actively monitors upcoming tax deadlines and regulatory changes, alerting you before issues arise.

  • Regional tax regulations

Built-in guidance on local requirements helps businesses in different EU markets stay compliant without costly accountants or legal specialists.

Be Among the First to Experience It

We're initially launching this revolutionary service in Germany, with plans to expand across the EU throughout 2025. German businesses can join our waitlist starting today, with the service scheduled to launch by Q2, 2025. Early adopters will have the opportunity to use the system for free during our beta testing period.

Ready to transform your financial management? Join our waitlist today and be among the first to experience the future of SME accounting: https://finom.co/en-de/accounting/ 

Stay tuned for more updates as we continue to innovate and bring new solutions to make entrepreneurship easier and more efficient.