Finom AI Accounting is highly praised for its ability to automate tedious bookkeeping tasks, making it a valuable tool for entrepreneurs in the EU. Users appreciate its AI-driven features that handle invoices, expense categorization, and tax submissions, highlighting its speed, accuracy, and time-saving benefits. The platform is described as simple and efficient, significantly reducing the need for manual intervention and making financial management stress-free. It is particularly recommended for freelancers and small businesses looking to streamline their accounting processes.
CNVS
I’m Ivo, Chief Venture Officer at Finom, and today I’m beyond excited to share something we’ve been working on for a while—Finom AI Accounting 🎉
Let’s be real, accounting sucks.
- It’s time-consuming (hello, manual tax work).
- Tax advisors? It's expensive as hell, and they love charging based on turnover, not revenue.
- You’re stuck juggling a mess of fragmented tools to get things done.
Right now, businesses in Europe have two choices:
1️⃣ Hire a tax advisor (costly, unreliable, and not proactive).
2️⃣ Use self-submission tools (cheaper, but you need accounting knowledge + lots of manual work).
We saw a huge gap—so we built Finom AI Accounting to be:
✅ Cost-efficient
✅ Fully automated
✅ Reliable & proactive
✅ Always available
Under the hood, we’re not just plugging into GPT or Claude. We built a multi-agent system that dynamically switches roles, connects to your banking data, and uses various tools to do your accounting for you. Plus, all your personal data is encrypted—even from us.
We implemented both short and long memory that help our assistants to be consistent + a knowledge base for each customer, allowing hyper-personalization at scale. One day, I’ll write an article about the tech behind it.
We’ve got a long road ahead, but I’m incredibly proud of my team for making this happen.
Would love to hear your thoughts—ask me anything! 🙋♂️
CNVS
@masump hey 👋 and thanks for the question!
We’re developing a set of criteria to calculate an efficiency score and provide tax optimization recommendations. Initially, it will cover simpler cases and common legal forms, but over time, we aim to offer a continuous stream of tailored recommendations to help users optimize their tax liabilities before filing. Are there any specific recommendations that you would like to see there?
I tried the demo and the invoice recognition was impressively quick.
CNVS
@jackson_wells speed is a big focus for us, and we’re constantly working to make invoice recognition even faster and more accurate. Tbh i don't think it is super fast now, but at least it has a great accuracy (99%).
Appreciate the feedback! 💪
Great solution for all EU entrepreneurs 🔥
CNVS
@daria_rumyantseva1 Thank you 😊
Automation feature is fantastic how does Finom AI guarantee data privacy and compliance with GDPR?
Are there encryption measures or audit trails for sensitive transactions?
CNVS
@samuel_kahlo Good point! At Finom, we take data privacy seriously and fully comply with GDPR. We do have a DPO (Data Protection Officer) and their team who are constantly working on this matter.
We do use encryption to protect data in transit and at rest, and as said in my first message, we even encrypt all the private data in our database, so if potentially it will be stolen, there's no private information to leak. We have pretty strict access controls and keep audit trails for transparency. And of course, we follow GDPR principles like data minimization and explicit consent to ensure security and compliance at every step.
As for the AI part, we’ve ensured compliance with the EU AI Act and clearly defined what AI can and can’t do.
Hope that answers your questions—happy to chat more if needed
Love this tool. Is it integrate with existing accounting platforms like Xero or QuickBooks or is it designed to function as a standalone tool?
CNVS
@contact_umair we have integrations with accounting software, but coverage varies by country. Right now, we’re well-covered in Germany 🇩🇪 and France 🇫🇷
The good news is that If we don’t have the integration you need, you can still export data using our fully customizable export tool in various formats—so there’s a 99% chance it’ll work with your software.
Here are a few links to the help centre:
https://help.finom.co/en/articles/4933892-how-to-download-customized-csv
https://help.finom.co/en/articles/4811416-how-to-make-bulk-export-of-documents
The blend of AI, tax reporting and expense tracking is perfectly suited for small business owners who prioritize efficiency.
CNVS
@matthew_flores1 glad to hear that you like it ☺️
Living in Switzerland - does Finom AI support Swiss accounting (bank statements, invoices etc.)? Recently worked with Zoho Books or Quicken but always ran into the issue of not properly supporting our Swiss banks (syncing with UBS for example).. hopefully Finom AI can help?
CNVS
@fortiii hey 👋
Unfortunately, we don't currently support Swiss accounting, but you can use Finom for your invoices/transactions by connecting your bank through a multi-banking connection (PSD2).