Birmingham-based FinTech software company APARI is set to disrupt the accounting industry through its intuitive cloud-based web app, presenting a single platform enabling independent professionals with no accounting expertise to manage balance sheets, profit and loss, corporation tax and personal tax through housing and processing real-time simple financial data.
In a bid to streamline accounting processes for individuals either operating as self employed or freelancers, APARI is set to officially launch the software from January 2019, with a view to eradicate the need for independent professionals to commission an accountant.
APARI has pledged a promise that its platform can facilitate the processing of a full year of accounts and taxation in under an hour from starting data capture to finalisation, and has also offered case support from experienced specialists to complement the platform.
Now bolstered by a team of five specialists, APARI has developed an established customer base since piloting the platform in 2018. APARI founders have also internally invested £450k to-date and are now seeking further investment to stimulate rapid expansion.
Sudesh Sud, Founder and CEO draws upon a wealth of experience in the accounting sector, working for over six years at KPMG, spending 15 years in the contracting and freelancing market for 12 different companies and delivering multi-million-pound projects in financial and risk software for global companies. Reflecting on the establishment of the company, Sudesh said:
“From a large amount of time spent contracting, I realised my accountant wasn’t adding any value and couldn’t give me business advice. They charged me for something that I had already done myself. This was the start of APARI. My vision was simple; you should only have an accountant if they can add value. We have automated the accountant’s mind to produce accounts and taxation calculations.”
APARI joined over 170 other innovative businesses supported at the UK’s largest campus for digital technology companies in April, gaining a place on the Entrepreneurs for the Future (e4f) programme delivered by Innovation Birmingham, which is positioned to support the region’s brightest digital tech entrepreneurs and SMEs.
The platform has been designed in the UK, developed in collaboration with a 500-person company in India, and is available in a mobile and tablet IOS format. Sudesh added:
“The software can replace the manual steps most accountants charge for. We are providing customers with the opportunity to halve their time spent on managing accounts, or equally reduce the costs associated with commissioning an independent accountant to implement traditional methods.
“Given the nature of the accounting industry, it’s vital that the platform is agile and adaptable in terms of scaling and responding to contemporary legislation and best practice. We want to position ourselves as the go-to brand within the industry. Taking two and a half years to develop the product, we feel we are now in a good position to launch and revolutionise the accounting market.”
Find out more about the solution here.