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FinTech Belgium - MeetUp on Digitalisation of Accounting - Sabine Vandebroek - Forum of the Future Foundation - 14-03-19

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FinTech Belgium - MeetUp on Digitalisation of Accounting - Sabine Vandebroek - Forum of the Future Foundation - 14-03-19

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FinTech Belgium - MeetUp on Digitalisation of Accounting - Sabine Vandebroek - Forum of the Future Foundation - 14-03-19

  1. 1. Technologies & Accountants : which convergences – what differences ? Sabine Vandebroek General secretary Forum For the Future Foundation
  2. 2. EVOLVE OR DIE Everybody talks about « automatization »,
  3. 3. With 90% automation potential, Fintech’s see the future in pink
  4. 4. but the reality is completely different
  5. 5. The administrative and financial processes of companies are varied and complex Offering a complete and integrated solution is the dream of the company but it is almost impossible
  6. 6. The solutions that have appeared for several years are numerous How to convince the entrepreneur to buy it, taking into account competitiveness and the difficulty of integrating it -> high sales efforts
  7. 7. The best remain, the less good disappear Companies have limited budgets, they have to make choices and sometimes have to stop a product which doesn’t generate revenues fast enough
  8. 8. Everybody talks about « automatization » and predicts the disappearance of accountants
  9. 9. but the reality is also completely different
  10. 10. With 80% confidence rate, the “Accountant” remains a very trustable partner of the enterprise
  11. 11. The first Automatic Teller Machine appeared in 1969 Teller = bank employee Did the bank employee desappeared ?
  12. 12. And the accountant is afraid
  13. 13. • Belgium is an SMB market • 1,9 Mio Business actors in Belgium • 98,6% less than 10 employees • 80% of enterprises are not seeking digitalization He’s afraid because
  14. 14. the efforts required to digitalize give them the impression that this will ultimately reduce their sales to equivalent customers High sales efforts needed to gain new clients He’s afraid because
  15. 15. He has to give more advices and develop (build and sell) a new portfolio of services He’s afraid because
  16. 16. « go to market » seems to be the main issue of « digital solution » to get and transform SME
  17. 17. 1+1 = 3 FFF thinks that cooperation between Fintech and accoutants could be the solution
  18. 18. • It’s easier to convince a company if the accountant alredy use the product • The accountant will feel cooperation and support and will be able to give more advices • New business model : Fintech sell to accountants and not to the final client Anglais
  19. 19. 10 € X 1.000 = 10.000 € Classic business model One product 1.000 clients
  20. 20. company Accountant 10 Clients Accountant 10 Clients 3X10= 30€ X 333 = 10.000 € New business model One products 333 accountants Same revenues : less sales efforts
  21. 21. company Accountant 10 Clients Accountant 10 Clients 10 € X 10 clients = 100 € New € New business model New revenus for the accountants Same price for the company but the accountants manage the tool -> efficiency
  22. 22. Cooperation is not an idea, it is the solution for many of you
  23. 23. THANK YOU

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