AI is set to revolutionize the accounting industry. The more we engage with accounting professionals, the clearer it becomes that there is a strong demand for a product that can automate a broad range of accounting processes simultaneously.

One of the most pressing challenges we have identified is the need for automated transaction matching. Many companies handle large or relatively large volumes of transactions that must be reconciled against corresponding records. While some accounting, receipt management, and invoicing systems offer partial solutions, manual matching remains a common pain point for many businesses.

These manual processes often arise due to the lack of digital records on one side of the transaction or the absence of APIs and predefined automation workflows. For instance, businesses using international payment platforms like PayPal or Stripe frequently struggle to match incoming payments with issued invoices in systems like Fortnox. This is just one of many similar examples.

Traditionally, automation has relied on pre-built integrations and processes designed for specific use cases. Some systems, like Fortnox, can automatically match payments from Swedish banks against open customer invoices. However, it is neither feasible nor sustainable to build custom automation solutions for every business scenario. Continuing to perform these routine accounting tasks manually, as is common practice today, is both inefficient and frustrating.

For over a decade, this issue has been a personal frustration of mine. I have developed bespoke workflows tailored to specific companies and implemented pre-built solutions where they fit. Yet, manual work remains a significant burden for accounting firms and finance departments. Unfortunately, these repetitive tasks do not add real value in terms of improving financial insights or enhancing reporting quality—they are simply a necessary evil.

The good news is that we finally have the technology to solve this problem at its core. And that makes me genuinely excited. It may seem overly enthusiastic to feel joy over something so technical, but I truly do.

Our approach is to leverage artificial intelligence for contextual transaction matching. To build an AI system capable of handling accounting tasks, a deep understanding of accounting principles and workflows is essential. Beyond merely automating existing processes, we are also rethinking and innovating them to ensure they are fit for the future of accounting.

The time for change is now. AI is not just an enhancement—it is a transformation that will redefine how accounting is done.