Customer story – Fine Accounting

Customer: Fine Accounting
Industry: Accounting & financial services
Location: Bucharest, Romania
Interviewee: Liviu Olaru, Managing Partner at Fine Accounting
Interviewer: Edgaras Bencevicius, Partner Manager at Bankfeed

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Edgaras: Liviu, could you start by telling us about your company?

Liviu: Fine Accounting is a Romanian accounting company based in Bucharest. We’ve been working in accounting and financial services since 2012. We initially started with Microsoft Dynamics NAV and later moved to Microsoft Dynamics 365 Business Central in the cloud in 2022.
Our long-term vision is to build a modern accounting firm that can scale efficiently. The Romanian accounting and tax services market alone is worth around €300 million, and we aim to grow our market share by acquiring other accounting firms over the next five to seven years.

Edgaras: I remember when you first contacted us about Bankfeed more than a year ago. At that time you wanted to start using it both for your company and for your clients. Today, Fine Accounting uses Bankfeed in services for more than 40 clients. What made you interested in Bankfeed in the first place?

Liviu: I discovered Bankfeed while I was in the United States working with a client who was using Business Central. When I saw that Bankfeed had connections with thousands of banks, including over 2,000 in Europe, it immediately caught my attention. I checked whether Romania was supported, and once I saw that it was, I started testing it right away. Our goal was to provide real-time financial information to our clients, and Bankfeed seemed like the right tool to help us achieve that.

Edgaras: Recently, we had a training session with your team about new Bankfeed features. What stood out to me was how engaged everyone was. Your team asked very detailed questions about the setup and configuration – something we rarely see to that level. It was clear that the team really understands the value of automation and wants to get the most out of the system.

Liviu: Yes, that’s true. For us, automation is extremely important. When we started using Bankfeed, it was like discovering a new way of working. Instead of spending an hour processing transactions manually, we only spend up to 10 minutes reviewing them. This kind of efficiency makes a huge difference for an accounting firm like ours.

Edgaras: One thing we often discuss is how automation should support accountants rather than overload them with manual work. In your case, it seems Bankfeed helps reduce repetitive tasks and frees up time for more valuable work.

Liviu: Exactly. I strongly believe that using automated tools for banking is far better than relying on manual work. If accountants spend their time downloading bank files, importing transactions, and posting entries manually, they cannot scale their services. With add-ons for automation, Business Central can handle most of the routine work.
For example, if text-to-account mapping is set up properly, Bankfeed correctly reconciles hundreds of transactions instantly. Sometimes I only need to check a few exceptions before posting everything. This allows us to close accounting periods much faster and deliver financial information to clients almost immediately.

Edgaras: Another advantage we’ve seen is that clients can access their financial information much faster. Instead of waiting for accountants to import bank statements, the data is already available directly in Business Central.

Liviu: Yes, and that’s extremely important for business owners. Many companies still rely on manual processes where bank data is uploaded a few days later. With Bankfeed, transactions can be synchronized automatically and almost in real time. This means business owners, CFOs, and managers can immediately see their financial situation and make decisions based on up-to-date data.

Edgaras: From what we see across many accounting firms, the most appreciated Bankfeed features are automatic transaction import and payment matching with invoices.

Liviu: Yes, these are some of the features we value most. Before Bankfeed, we used bank statement files like MT940. But each bank has its own format, and these files often cause errors or inconsistencies. With Bankfeed, transactions are imported automatically and matched correctly. For clients with large volumes of transactions, this saves an enormous amount of time.

Edgaras: One of the most interesting things about your approach is that automation allows you to serve more clients without necessarily increasing your team size.

Liviu: Yes, our goal is to grow significantly in the coming years. If we reach thousands of clients and each client has multiple bank accounts, it would be impossible to manage everything manually.
Automation allows our team to focus on what really matters – advising clients, solving complex problems, and delivering higher-value services. Instead of spending hours downloading files and posting transactions, our accountants can dedicate their expertise to work that genuinely makes a difference. Systems like Business Central and Bankfeed handle the repetitive heavy lifting, so our people don’t have to.

Edgaras: Another advantage many accounting firms appreciate is how quickly Bankfeed can be installed. It doesn’t require IT expertise, and it connects to all major Romanian banks in minutes. Was that your experience as well?

Liviu: Yes, that’s very important. The installation was fast, and we didn’t need special technical knowledge to get started. Bankfeed easily connects to banks, and once the basic settings are made, it runs smoothly. This makes it accessible for accounting firms that want to quickly modernize their workflows.

Edgaras: What are your plans for the future with Bankfeed?

Liviu: We plan to continue growing and expanding our client base. We have ambitious growth plans, both organically and through strategic partnerships, and we expect the scale of our operations to increase significantly over the next few years. To support that growth, we need systems that can handle thousands of bank accounts efficiently. Bankfeed will remain an important part of our technology stack. It’s not just a tool – it’s a solution that creates real value for our business.

Edgaras: If you look at the accounting industry overall, what do you think the future will look like?

Liviu: Accounting cannot stay manual forever. The future is about automation, speed, and reliable data. Accounting firms must deliver information quickly and accurately. Solutions like Business Central and Bankfeed allow us to move toward the future where accounting is smarter, faster, and more scalable.