Optimyze Finance, a new-age professional services firm to bring automation to global finance, was established in India and the UK by Kanika Bali, Manu Gupta and Fatima Naqvi.
It is aims to leverage fintech with domain experts for the benefit of small and medium-sized enterprises (SMEs), startups and (NGOs) globally.
“A professional services firm at the forefront of global finance can be a game-changer for businesses by ushering in automation. Through advanced technologies and expert insights, such firms streamline financial processes, enhance efficiency, and reduce operational costs. By implementing automated solutions for tasks such as invoice processing, payroll, expense management, paperless accounting, auto-consolidation, etc., businesses can significantly reduce errors and increase accuracy, ultimately leading to improved financial health. Moreover, automation frees up valuable human resources to focus on strategic initiatives, fostering innovation and growth,” three founders commented.
In an increasingly competitive landscape, a consulting firm’s guidance in adopting automation is instrumental in helping businesses thrive and remain globally competitive, the trio added further at the launch of their new initiative in New Delhi, India.
The challenges of presenting their financial records are frequently encountered by SMEs trying to expand operations abroad, startups searching for investor backing, and NGOs looking for grants. This move will be simplified by Optimyze because of its knowledge of worldwide accounting standards and fintech, the press report stated.
“With Optimyze, SMEs can gain access to cutting-edge fintech services that were once the domain of larger corporations. Our AI-driven solutions streamline operations, cut costs, and enhance compliance. SMEs can now receive personalised financial advice and services tailored to their unique needs, fostering growth and competitiveness,” Kanika Bali added.
Stakeholders and investors are now concentrating on ESG information to determine a company’s value proposition and manage investment risks as the need for sustainable investing grows, the press report noted.
“Traditional accounting has a limited scope in the measurement of a company’s transactions. When it comes to ESG accounting, accountants need to broaden their vision and think about ways to describe, assess and measure the impact of a company’s business on the neighbourhood, its employees, their health, their social needs, the effects of its operations on the environment and so on and so forth. Though seemingly very subjective, the measurement of these factors is imperative for the evaluation of a company’s financial statements”, said Fatima Naqvi.
ESG issues could have a direct influence on a company’s financial results. indirect tax consequences that could result in reduced sales and reputational harm from environmental degradation are also a possibility, it added.
“By combining our shared values with AI and automation technologies, we will power actionable insights for businesses to realise the right outcomes for them. What this partnership is enabling us to do is really double down on the use of technologies, leverage an extensive network of experts, and work effectively across international markets to enable and optimyze businesses”, said Manu Gupta.
Some of the services that the company is planning to offer to corporations, NGOs, SMEs, and startups include robotic process automation (RPA), sustainable reporting, AI in finance, mitigating fraud with tech-sensitive platforms, sustainability audits, raising capital, reducing operating costs, and implementing international financial reporting standards (IFRS).