An accounting program brimming with automation + included accountant = a fully automatic financial accounting solution for a set low price. That is the recipe followed by the startup Tellero, who wants to shake up the accounting world with its model.
There are many pleasures involved in taking the leap and starting an independent business. But keeping track of VAT and accounting is not one of them. Hence the ocean of accountancy programs making life easier for entrepreneurs and minimising the number of errors in accounting. And the newest addition, provided by the startup Tellero, automates the entire process.
“The system is not designed as a self-service solution. It handles most things automatically, and then an accountant takes care of the rest. This way, entrepreneurs and smaller companies can get their accounting done for a set and transparent price,” explains Chadi Taleb, founder of Tellero.
Automatised Low Price
Tellero is a newly developed system, but the company behind the accounting solution is Revimatch, which for years has helped entrepreneurs with their accounting. The accounting program has been developed from the ground up, and is, like many of its competitors, an online system. The difference lies in the degree of automation.
“The system is automated, and that allows the client to handle 80 percent of the task by taking a picture and telling the software where it needs to be filed, and the system then takes care of everything following that – VAT calculations, annual reports, and so on,” says Taleb.
The whole process is monitored by an accountant, and this insurance against errors is included in the set subscription fee. At the same time, the accountant also takes care of the 20 percent, which is not yet automated. Here too Tellero would rather solve the task without resorting to long meetings – for instance, the system will just send a notification to the client if the accountant has any questions about the material.
“That is the key to how we can offer entrepreneurs a sharp price. Automation handles all the simple accounting, so the accountant only needs to be concerned with the rest. In that way, one employee can work with far more companies than they were previously able to,” says Taleb.
Tellero’s goal is fully automatised accounting. Therefore, creating integrations with webshop systems, payment solutions and so on has been a priority right from the beginning.
“It is crucial that the data can move freely between the entrepreneur’s IT systems. In that way, Tellero can retrieve all information at the company’s order and automatically file it within the system,” says Taleb.
According to the founder, the number of possible integrations won’t be what’s keeping automation back. At the same time, he believes that this will help the transparency of the company’s product.
“We have already developed more than 100 integrations. And we have developed them in-house, meaning that Tellero users can freely integrate them without additional costs,” he says.
Even though Tellero is a result of much developmental work, the model itself is really quite simple: A set monthly fee for covering accounting-related needs.
“It is super simple, and you can get started right away. There is no need for meetings of any kind – you just enter your business’s expected revenue, and then you’re immediately going forward, with an accountant attached,” says Taleb.
Even though the solution only recently launched for test users in Denmark, he strongly expects that Tellero will be available beyond the country’s borders before long.
“We want to start in Denmark, but we expect to set up in Sweden before long, and after that, we’ll be out there and competing in some of the large markets,” says Taleb.