Silverfin wants to modernize accounting software with its cloud service

In order to improve efficiency, Silverfin attempts to automate the most lengthy element of accounting– information collection. The business helps you get in touch with your clients accounting software directly to import their information, such as Xero, QuickBooks, Sage and SAP.

Meet Silverfin, a start-up focused on accounting software. Silverfin desires to construct the cloud service for big and little accounting firms– Salesforce, however for accounting.
Silverfin lets you configure automated workflows and design templates so that anybody in the accounting company can inspect and enrich information for compliance concerns.

Once your information remains in the system, you need to process it. Silverfin lets you configure automated workflows and design templates so that any person in the accounting firm can check and enrich data for compliance problems. Like Salesforce and other software-as-a-service items, multiple individuals can interact on the service and look at all previous edits and changes.

The startup was established in Ghent, Belgium, however it has now broadened to London, Amsterdam and Copenhagen. Silverfin has actually attracted 650 consumers, including big accounting companies in Europe and North America.

After that, Silverfin standardizes your data set and lets you add data by hand so the platform can end up being the main data repository.

By targeting the most demanding customers initially, Silverfin does not need to replace Xero or QuickBooks altogether. It can incorporate with those existing software application options. Theres a chance to go downmarket later and persuade smaller sized companies that do not always have a big accounting group.

You can then imagine financial information, produce reports and statements. It opens up brand-new possibilities for accounting firms. They can charge advisory services thanks to analytics tools and an alert system.

Meet Silverfin, a startup concentrated on accounting software. This isnt about helping small start-ups manage accounting jobs themselves. Silverfin wishes to build the cloud service for big and small accounting companies– Salesforce, however for accounting.
The start-up just raised a Series B funding round led by Hg– Index Ventures led the previous Series A round. While terms of the offer are undisclosed, a source informed me the round deserves around $30 million.