Spotlight on India’s Emerging Accounting Startup Innovations

January 2, 2024

India’s startup ecosystem has seen considerable growth particularly in the accounting industry, with several enterprises emerging even amidst the challenges posed by the global pandemic. Accounting startups have been instrumental in changing the business landscape, combining innovation with critical financial services. This feature highlights some of the startups, founded in 2020 or later, which have made a significant impact in their short time of operation.

These startups cater to a variety of industries and offer diverse services from advanced financial software and solutions, accounting training, consulting and business intelligence. Moreover, the ever-evolving technological landscape in India has seen these startups integrate artificial intelligence, machine learning, and advanced algorithms into their operations for seamless service delivery.

The following are some of the promising accounting startups, established in 2020 and beyond, based in India. These companies prove that despite being relatively new in the market, they promise innovation and growth that could potentially reshape the accounting industry.

Milestone Business Solutions

Located in Carmel, Indiana, Milestone Business Solutions is a professional services firm providing accounting, consulting, human resources, and outsourcing. The startup was founded by Brenna Whitaker, Melissa Stout, Todd Richardson, and Tom Gabbert. Their goal is to make life easier for clients by providing access to crucial information that informs smarter decision-making. Connect with them on Twitter or LinkedIn.

Finsights

Finsights, based in Mumbai, Maharashtra, offers a GST ITC Reconciliation App alongside Free Tally on Mobile and Web. The company features advanced algorithms for automatic daily reconciliation of GSTR 2A and GSTR 2B with books. Their AI-based matching and recommendations help businesses reduce hours spent on lengthy and complicated processes. Connect with them on Twitter, Facebook, or LinkedIn.

Volans Infomatics Pvt. Ltd.

Volans Infomatics Pvt. Ltd., headquartered in Noida, Uttar Pradesh, offers business process management and operations consulting services. They provide diverse digital solutions such as voice & chat bots, AI, and machine learning. Their services include finance & accounting, research & data analytics, and software development among others. Follow them on Twitter, Facebook, or LinkedIn.

Olympus Research Global

Olympus Research Global, based in Delhi, specializes in providing accounting and consulting services along with market research. Connect with them on LinkedIn.

Verve Advisory

Verve Advisory is a Pune-based startup operating in the accounting, consulting, and financial services sectors. Check their updates on Facebook or LinkedIn.

Boxfile

Located in Chennai, Tamil Nadu, Boxfile provides automated workflows to assist firms in virtually managing their audit practices. They also offer contactless auditing and analytics-driven decisions. Interact with them on Facebook or LinkedIn.

SeedUp

SeedUp, based in Kolkata, West Bengal, provides consulting, accounting, and professional services. The startup was founded by Sumeet Singhania. Connect with them on Twitter, Facebook, or LinkedIn.

Decimalytics

Located in Merrillville, Indiana, Decimalytics provides consulting and services to small businesses and existing finance departments. They offer solutions from financial modeling to strategic planning and real profit decisions. Check them out on Twitter, Facebook, or LinkedIn.

MaxPoint Advisors

MaxPoint Advisors, based in Indianapolis, Indiana, offer accounting and consulting services and provide solutions to help businesses achieve their strategic goals. Connect with them on Facebook or LinkedIn.

AccountShala

Located in Noida, Uttar Pradesh, AccountShala, founded by Akhilesh Kumar, aims to teach commerce students the practical aspects of accounting and finance. Interact with them on LinkedIn.

OnAccounting.org

OnAccounting.org, a startup pioneered by Sunil Kumar and part of the OROSK Network Private Limited, provides bookkeeping, legal, tax, and accounting services both locally and globally. The company is headquartered in Chandigarh, Chandigarh.

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