Young Moldovan launches AI-based accounting business
A young entrepreneur from our country decided to merge technology with finance by launching a business that utilizes artificial intelligence in accounting. Recognizing the significant time and resources that traditional accounting processes require, he developed a digital solution aimed at simplifying operations for small and medium-sized enterprises.
Denis Bradu is a 23-year-old from the city of Edineț, who has been studying entrepreneurship for six years. Today, he can boast of his own business in the capital, although the foundations were laid in Romania.
"We are making the first accounting AI in Romania, what does this entail? We automate the accounting process and also provide accounting services. How does it work exactly? It connects to your bank account, connects to the e-Invoice system, connects to email and WhatsApp, invoices, bank statements, receipts, categorizes them all and calculates taxes instantly. Thus, accountants can become those business consultants who provide solutions, not enter numbers into accounting software. To develop this business, we need time, money and ambition. We have ambitions, we recently received a grant from the Municipal Center for Entrepreneurship Development (CMDA) and we also have equipment. Now we need even more funding for the sales side, time for the implementation side, growing the team, this is the most complicated part", Denis Bradu said for Radio Moldova.
“Now, it’s me and co-founder Cristian, he’s a technical person, I’m a business person, I come from finance, but I also have an IT background, as a consultant. We still have three accountants in Romania,” said the young man.
Their ambition is to put accounting on autopilot for as many companies in Europe and around the world as possible.
"We are now building this system, to be easily extensible for other countries - Bulgaria, Poland, Estonia, and for the Republic of Moldova, when this will be appropriate. The only challenge will be sales. It is an expensive business. We plan to use the grant funds to purchase hardware. This is the biggest challenge, so that we can ensure security, data confidentiality. We cannot use the same ChatGPT or AI models available via API. We have to make localhost and then we have to modify that AI so that it can perform certain tasks and purposes, as it is designed and necessary in accounting", Denis Bradu said in the show "Dimineata cu Radio Moldova".
The young man states that, together with his team, he is not giving up, because they have a very great potential to help entrepreneurs, so that they can focus on what really matters: "Entrepreneurship should not be an act of fiscal heroism, it should be simple, that is our vision. And that is what we are trying to do".
In his opinion, it is very important to start with small steps, but to start.
"That was the mistake we made - we didn't start very ambitiously and that cost us, we made mistakes. It's better to start small, to help someone for free, and then have them pay you, than to go very ambitiously and fail. And the second tip is to talk as much as possible with potential clients or partners to understand their problems. Money appears in business when you solve a problem. No matter how brilliant your idea was, if you don't solve a problem with it, it won't work, you won't be able to sell it, regardless of whether you have large budgets for marketing, sales and a very high-performing team," said the young entrepreneur.
Author: Natalia Mogîldea
