Aico - Intelligent Financial Close Automation
Aico is a small software development company founded in 2008, specializing in intelligent financial close automation. Headquartered in Espoo, Finland, Aico offers a platform that enhances the financial close process for large enterprises by automating manual tasks, ensuring compliance, and improving workflow efficiency.
Company Overview
Aico operates in the Software Development industry, specializing in Intelligent Finance Automation. Founded in 2008, the company has grown to a team size of 60, classifying it as a small business. Aico is headquartered in Espoo, Uusimaa, Finland, and has additional locations in Warwick, Great Britain; Neuss, North Rhine-Westphalia, Germany; and Riga, Latvia. The company focuses on providing solutions that enhance the financial close process for large enterprises with complex needs.
Services
Aico offers a platform designed to automate and streamline financial close processes. Key services include Intelligent Finance Automation, Record to Report process management, and General Ledger accounting. The platform features a Closing Task Manager, Transaction Matching, Manual Payments, and Account Reconciliation automation. It supports all ERP software through standard integration, enabling finance professionals to achieve faster month-end financial reporting while ensuring compliance with regulations.
Specialties
Aico specializes in several areas critical to financial management. These include Intelligent Finance Automation, Financial Close processes, and Finance Digital Transformation. The platform's capabilities extend to automating error-prone manual tasks, thereby increasing efficiency and accuracy. Aico also focuses on compliance management, offering a Compliance Task Manager to monitor adherence to standards such as GDPR, SOX, and ISO 9001.
Technology Integration
The platform provides real-time integration with major ERP systems, including SAP, Oracle, and Microsoft Dynamics 365. This integration facilitates seamless data flow and ensures that financial data remains accurate and up-to-date. Aico's technology is designed to support large enterprises, allowing them to scale operations without the need to expand their finance teams while maintaining data accuracy and consistency.
Investment and Growth
Aico has received a majority equity investment from Accel-KKR, aimed at fueling market expansion. This investment supports the company's mission to enhance financial close automation for large enterprises. The platform is trusted by leading European enterprises, reflecting its commitment to delivering effective financial solutions that reduce manual workloads and improve work-life balance for finance professionals.