Tag: #numarics

Business Powered by Numarics: A New Evolution of Entrepreneurship

Numarics introduces its world’s first business operating system (OS) that completely covers business management for small and medium-sized businesses. Used by entrepreneurs and fiduciaries alike, Numarics eliminates all need for orchestrated use of disparate accounting and finance software. Startups get the services of a CFO and COO through one engine and the strong operations team behind it. The team of fiduciary and financial experts feeds the artificial intelligence of this engine with process flows – transforming the use of accounting and finance services. Currently available for in Switzerland registered businesses.

Numarics OS Completely Replaces Software

“The artificial intelligence knowledge comes from the top expertise of our operations team,” says Kristian Kabashi, co-founder at Numarics and an expert in process optimization and automation, adding, “A software is built by software developers. Our engine learns from the specialists and virtually creates itself in the process.” To build a powerful, scalable and easy-to-use true digital solution, Numarics’ founding team developed an app that allows users to further feed the state-of-the-art engine with use cases – simply by using it. “The more users Numarics serves, the more business cases it covers,” Kabashi adds. In the process, human errors due to lack of time or carelessness in repetitive activities are eliminated. Kabashi: “We use the machine to sift through a high volume of data in milliseconds. Anywhere a human can make the mistakes, the machine does not. Anything that has to do with human experience and niche knowledge, our operations team of finance experts and affiliated accountants cover as consultants.”
With Numarics, accounting is no longer an extra item. It is integrated and seamless. Automated processing also includes reporting to the appropriate local authorities. The Numarics dashboard provides real-time metrics and financial forecasts that allow users to report to their stakeholders and plan investments and cash flow.
AI-driven Numarics is a quality guarantor for reporting even as with the annual financial statement. “The annual financial statements are no longer forgotten or postponed,” says Dominique Rey, co-founder and CEO of Numarics, referring to the process integration. More and more Swiss fiduciaries are joining Numarics and empowering Numarics as a RegTech solution (solution for regulation) – that is, using Numarics as a financial tool takes care of filings and compliance with tax authorities. “The accountant connected to Numarics thus has time for the consulting services of the users assigned to him /her and can refer to very individual optimizations, such as the creation of expense regulations with the district of Zurich if the company is located there,” adds Rey, who is a Swiss business expert and certified public accountant.
Accountants are usually highly trained specialists and are empowered with Numarics to focus on quality control and high quality consulting services. Compared to purchasing manual accounting services paired with software subscriptions, users benefit from lower costs.
Numarics OS offers comprehensive features such as invoice generation and automated dunning, legally compliant digital management of all receipts and documents, and payroll automation. Numarics employs finance experts in the operations team and makes the Numarics OS available to external accountants, replacing paper, bookings and software.

NUMARICS: Artificial Intelligence Does Accounting Now

Swiss fin-tech startup Numarics offers an integrated  business solution that allows Swiss entrepreneurs to navigate their bookkeeping  from their mobile phones. Artificial intelligence replaces an accountant. Why is this  necessary? Or rather – why hasn’t this come to market much sooner? 

“We don’t need another accounting software. We need a solution,” said digital expert Kristian  Kabashi when he was approached by certified public auditor, accounting expert and financial market  specialist Dominique Rey with a request to work together on the digitization of accounting services. 

Rey: “I have examined companies where an independent audit of the balance sheet and income  statement was required. In practice, this means that I had a lot to do with internal and external  accountants to verify whether there were any material misstatements in the annual financial  statements. In this activity, I quickly detect if the accounting is managed properly. I am always  surprised at how much administrative work steps the accountants had to perform and that very few  work steps were automated – that leaves much room for mistakes.” 

Rey reports strong quality differences in the work of accountants, an unprotected title in  Switzerland. Poorly or untimely fiduciary work carries financial risks and can be costly for  entrepreneurs. Accountants, on the other hand, are tired of running after and sorting missing  paperwork – a job that has not changed since the dawn of accounting. 

Fun Fact: Bookkeeping has existed since 3000 BC in ancient Egypt – with debits and credits on  papyrus scrolls. 

Kabashi: “Since then, only the quality of the paper seems to have changed. Now, physical paperwork  is also transferred to Excel spreadsheets or accounting software in a highly time-consuming process.  Receipts are glued on paper to keep them sorted and together. This discipline never made it to the  Olympics, so it’s time to challenge that.” 

Kabashi transforms business processes with a strong philosophy where people are exclusively  creative thinkers and strategists. Repetitive work is performed through advanced technologies. 

Kabashi: “Who likes filling out forms or taking care of all the paperwork? How many people would  have already made their dream of self-employment reality if they didn’t have such great respect for  bureaucracy?” 

Fintech startup Numarics is designed to take that fear away. The app sends push notifications when  a receipt has not been scanned. Algorithms detect whether it is a receipt, a contract or an invoice.  Numarics handles communication with government agencies and enables invoices to be sent to  clients. It becomes virtually impossible to lose track of anything.

Volker Doberanzke became involved in the development and set-up of Numarics. The professor of  finance can demonstrate an international management career and today trains students at an  international university. The co-founder describes Numarics as follows: “It is a system that  integrates all business processes and generates data at the end. These serve as the basis for day-to day management and are used to make important decisions. In addition, the data forms the basis for  required financial reports for both government agencies and stakeholders. 

“The flying blind is over,” says Kabashi, who as an entrepreneur himself has no clear overview of the  annual profit taxes that will be coming up for his business – a good tax consultancy is rare. Numarics  does the math in its on-target forecasts, and users have a clear forecast in their pocket. 

The entire Numarics team works on the “ease of mind” – no paperwork, no worries with the  authorities or the accountant, and even procrastination hurdles of numerous startups are at the  forefront for the solution. Says Rey, “It’s an integrated process, and we sell peace of mind by  ensuring the entrepreneur has complete oversight of what the Numarics engine is doing for them.” 

Numarics as a business solution for Switzerland comes with great future visions for interfaces that  can be connected for entrepreneurs. For example, Numarics can already settle cryptocurrencies  today.

NUMARICS: Switzerland’s First Fully Digitalised Startup & SME Accountant. #Fintech #NUMARICS

Swiss fintech start-up Numarics enables startups, SMEs and freelancers to do their accounting effortlessly and 100% digitally. With this strong business model, the founding team confirms the innovative strength of Switzerland as a business location.

Accounting, payroll, tax returns, invoicing, document management and much more are now streamlined via the Numarics ecosystem on the web or via app. Numarics has made the onboarding process incredibly simple – start-ups and SMEs can be activated on the platform in just a few minutes. Instantly, all the critical, administrative activities that are crucial to running a successful SME can be done in a digital and streamlined way via the Numarics app.

For entrepreneurs who want to organise their accounting seamlessly, independently and mobile.

The founders of Numarics believe that focusing on the core business leads to success – entrepreneurs focus on their key business and Numarics takes over administration and fiduciary services via the digital ecosystem.

Numarics was developed by experts from the fields of accounting, digitalisation, artificial intelligence and auditing. The founders have developed a digital and highly innovative ecosystem that is specifically tailored to the needs of entrepreneurs. With a consistent mobile-first approach, Numarics is Switzerland’s first accounting solution for startups and SMEs that can be completely controlled via a mobile app.

“Switzerland is a safe haven for businesses, and start up hubs like in Zurich are booming. It is simply outdated to still do your business administration with expensive accounting software and manually operating accounting providers. Numarics is the first digital accountant on the smartphone, providing an innovative ecosystem for Swiss startups,“ says Dominique Rey, Swiss Certified Public Accountant and CEO & Co-Founder at Numarics.

Users focus on their business – Numarics does the rest.

Co-founder Kristian Kabashi is an expert in the digitisation of business processes and is instrumental in digitising competent and reliable fiduciary services at Numarics. The digital expert believes that technology should be used to dedicate oneself to creativity by handling repetitive, administrative tasks technologically. In the process of developing Numarics, he has focused on the experience: “The experience of accounting up to now has been the same as a visit to the dentist. You know you have to do it, but it’s just no fun,” Kabashi says, adding, “With Numarics, running a business becomes the easiest thing in the world. Our users do their business, we do the rest.”

Numarics works and learns via intelligent algorithms. Each booking process is broken down from one minute to a few seconds. Documents are scanned with the mobile phone and categorised by setting filters. The app then learns from recurring expenses and income and consequently automates itself more and more, becoming faster and faster.

Kristian Kabashi and Dominique Rey

The founders are committed to creating a digital SME solution that is easy to use and absolutely transparent in terms of costs. Numarics is available for startups from only CHF 149 /month – the package includes all fiduciary services and financial administration for startups and SMEs: document management, accounting, financial statements, tax returns, VAT and payroll. Tax advice is provided via push notifications in the app. In the affiliated Numarics Academy, top experts such as Numarics Board Chairman and Professor for Finance Volker Doberanzke teach business management in free webinars.

If users need specific information, entrepreneurs can book consultations with certified experts at Numarics at the click of a button. Various banking institutions can be connected to the Numarics ecosystem to provide the user with a fully integrated financial experience.

“Expat founders regularly have different needs. They only understand Swiss regulations and tax requirements to a limited extent – also because there are many terms that translate differently. For these entrepreneurs, we want to make Switzerland more open as a start-up country,“ says Rey.