iFid – Fiduciaire Digitale modernizes accounting with Artificial Intelligence from Horus Software
The digital fiduciary offers e-accounting adapted to the needs of today’s entrepreneurs
For many people, the accountancy sector is not directly associated with innovation and modernisation. However, the accountancy profession is currently undergoing a digital transformation. This digitalization is accelerated by social distancing and the arrival on the market of new generations of entrepreneurs who have grown up in a digital world.
Based on this observation, the digital fiduciary iFid – Fiduciaire Digitale was created in 2021. From the outset, the Brussels-based company chose to process most of its files in Horus Office, an accounting software created by the Belgian startup Horus Software. The computer system allows, among other things, to scan its invoices thanks to an advanced Artificial Intelligence program. The recurring part of the accounting is therefore semi-automated, which gives the accountants time to do activities with real added value, such as customer advice.
Real-time overview
The first step in providing this customer advice is to keep the bookkeeping up to date. Some entrepreneurs still navigate without a compass for a large part of the year, with balance sheets sometimes coming out up to seven months after the closing. Thanks to codas and Horus Software, financial documents are now uploaded almost instantaneously into the accounts kept by iFid – Fiduciaire Digitale, which then gives a real-time overview of the financial situation. In times of uncertainty, it is no longer possible to run a business blindly. Company directors are increasingly demanding an immediate analysis of the financial health of their organisation.
All digital
In addition to the almost instantaneous demand for financial information, working from home was also a pivotal moment in the digital transformation of accounting. Overnight, the industry had to reinvent itself and entrepreneurs had to get into the habit of scanning their entire financial records. No more shoe boxes filled with old VAT stubs. Even after the offices were reopened, the habit of scanning documents has remained firmly established among all age groups.
To facilitate the sharing of financial documents, iFid – Fiduciaire Digitale has, among other things, set up an e-mail address to which customers can send their scanned invoices. Another option is to enter these documents directly into Horus Office. The Artificial Intelligence then recognises the different elements such as the name of the company or the amount and assigns them to the right accounting item. The accountant only has to check the work done by the machine. At iFid – Fiduciaire Digitale, encoding now takes up to half the time thanks to automation with Horus Office.
For iFid – Fiduciaire Digitale accounting and digital are now indivisible. Nicolas Widar, co-founder of iFid – Fiduciaire Digitale, explains: “In the long run, going digital saves us a lot of time. Our accountants don’t have to chase their clients to get all the necessary documents, and, at the same time, they can better advise them thanks to real-time data. Once they get used to it, clients scan and send their invoices directly to Horus Office instead of spending several weekends a year dusting off their accounts. Thanks to Horus, the accounting now runs by itself. We have a lot less rushing around during the VAT closing process.
Benjamin Tailleur, Product Manager at Horus Software: “We are delighted to be able to work with iFid – Fiduciaire Digitale. Horus Office is constantly developing, and we always try to take into account our customers’ opinions. We want to give accountants the time to concentrate on activities with real added value. By automating the processing, they can save up to 40% of that time.”
IFid – Fiduciaire Digitale has quickly established itself on the Belgian market thanks to its distinct offer: the young company has 16 employees for 500 clients. 75% of the fiduciary’s clients have their internal file on Horus Office.
About Horus
Horus Software, founded in 2016, is a Belgian startup that puts IT accounting in a new light. The fast-growing startup has developed two solutions for the Belgian and Luxembourg markets: Horus Office, an accounting software for fiduciaries and accountants, and Falco, a financial app for entrepreneurs and business managers.
The software is based on artificial intelligence and behavioural analysis and allows for real-time monitoring of the accountancy. This results in a 40% time saving for accountants and fiduciaries. Thanks to AI, Horus has won over 3 million minutes, or more than 6,250 working days.
Horus is led by Philippe Tailleur (CEO) and his two sons, Benjamin and Jérôme Tailleur (Product Manager and Sales Development Manager) and currently employs around 15 people. It has a recurring turnover of 1.2 million euros.
For more information: https://horussoftware.be