u/Efficient-Product886

Hi everyone,

I run a financial advisory firm for early-stage founders in Dubai, providing financial support and advice at affordable prices.

For the next stage of my business, I would like to develop a tool specifically targeted at improving the bookkeeping process for founders who don't have a financial background. Many of my clients say that this process is confusing and difficult so I want to create a tool that is beginner-friendly, faster, accurate, and much cheaper than hiring a separate bookkeeper.

This is where you guys come in. I would like to listen to your real experiences of managing a business or starting one and hear your pain points regarding the bookkeeping and accounting process.

DM me with your insights.

First 20 people to DM will get the tool for free. Everyone else will get a free financial consultation.

Thank you for your time.

Looking forward to hearing from you all!

I run a financial advisory firm for early stage startups and I want to make a tool to help my clients. Many clients talk about how the bookkeeping process is the most confusing, difficult and expensive process they face. Hiring bookkeepers take out so much of their time and it leads to more problems such as cost, bookkeepers not finishing their work on time, or me the financial advisor for these clients facing poorly kept records (slowly down how fast I can actually analyse their financial performance).

here is what I was thinking. An AI bookkeeping tool that is beginner friendly, meaning you dont need to have prior accounting knowledge to use it. It uses WhatsApp as a medium of communication as most of my clients use WhatsApp business to perform their day to day transactions (customers, supplier, etc). The user would be able to upload a picture of the invoice for example, or send a voice message explaining the transaction, or just send a text to the tool on WhatsApp. The tool will then use AI and analyse the message, understand the transaction then send that info to a separate platform such as Xero Books (for now until I build a separate platform) where the users accounting books are held and journal the entry. Its faster, more accurate, and cheaper. The user is also able to ask for a summary from the tool on WhatsApp where the tool will then send a dashboard showing the current financial performance which is updated after every transaction.

After going through a bunch of reddit posts, I realized that many founders are quite scared and weary about using AI for bookkeeping. To fix that, I decided that in the building stage of the AI, I would contact 100 or so credible accountants to test my AI and flag where it is inaccurate. This will help reduce the uneasiness. This 100 accountant check would happen every year as the accounting world changes time to time. Further I would also review the transactions made by the AI for each user at the end of the week or month. Adding another layer of security.

What do you guys think? Any comment is much appreciated.

Do you guys go through problems in your bookkeeping process?
Any improvement ideas for this plan?
What do you see as something that might go wrong?
Do you think there will be demand for this kind of product?

I have built kind of a MVP but to make it actually work I would need to pay for some systems and I would like to get my idea validated first before proceeding.

Hi everyone,

I run a financial advisory firm for early-stage founders in Dubai, providing financial support and advice at affordable prices.

For the next stage of my business, I would like to develop a tool specifically targeted at improving the bookkeeping process for founders who don't have a financial background. Many of my clients say that this process is confusing and difficult so I want to create a tool that is beginner-friendly, faster, accurate, and much cheaper than hiring a separate bookkeeper.

This is where you guys come in. I would like to listen to your real experiences of managing a business or starting one and hear your pain points regarding the bookkeeping and accounting process.

https://calendly.com/themikakarunarathna/arcion-discussion

You may book a call with me or DM me with your insights.

First 20 people to schedule a call or DM will get the tool for free. Everyone else will get a free financial consultation.

Thank you for your time.

Looking forward to hearing from you all!

Hi everyone,

I run a financial advisory firm for early-stage founders in Dubai, providing financial support and advice at affordable prices.

For the next stage of my business, I would like to develop a tool specifically targeted at improving the bookkeeping process for founders who don't have a financial background. Many of my clients say that this process is confusing and difficult so I want to create a tool that is beginner-friendly, faster, accurate, and much cheaper than hiring a separate bookkeeper.

This is where you guys come in. I would like to listen to your real experiences of managing a business or starting one and hear your pain points regarding the bookkeeping and accounting process.

DM me with your insights.

First 20 people to DM will get the tool for free. Everyone else will get a free financial consultation.

Thank you for your time.

Looking forward to hearing from you all!

Hi everyone,

I run a financial advisory firm for early-stage founders in Dubai, providing financial support and advice at affordable prices.

For the next stage of my business, I would like to develop a tool specifically targeted at improving the bookkeeping process for founders who don't have a financial background. Many of my clients say that this process is confusing and difficult so I want to create a tool that is beginner-friendly, faster, accurate, and much cheaper than hiring a separate bookkeeper.

This is where you guys come in. I would like to listen to your real experiences of managing a business or starting one and hear your pain points regarding the bookkeeping and accounting process.

DM me with your insights.

First 20 people to DM will get the tool for free. Everyone else will get a free financial consultation.

Thank you for your time.

Looking forward to hearing from you all!

There are some things that your CA might do that you might not like or find irrelevant or an inconvenience

OR

There are some things you want from them but they do not offer or it is not deemed important by their practice.

Im curious to know what those things are.

For me, its late reports (not by the agreed time) and my friend pointed out when I asked him that he wishes his financial advisor was more patient with him as he is not from a finance background and he wishes that the advisor explains his finances in a much simpler manner

Im curious because after seeing my friend struggle so much with his finances for his startup, i decided to start a financial advisory firm but I have no clue what my specific services should be. I wanna hear from you all, what are your biggest pain points in finance?

- Is it invoice handling?
- Bookkeeping?
- Payroll?
- Forecasting and Budgeting?
-Cash Flow?
-Financial reporting?

Let me know even the tiniest of inconvenience bcs Im making this for you all for free. Also when would you guys outsource this function to an external firm such as myself? What criteria would you look for before outsourcing?