Finago launches new AI capabilities and opens its platform for customers to build their own AI agents
Finago is launching a major AI upgrade in Finland under the Finago AI brand. The upgrade includes new AI capabilities across Finago’s software portfolio and a new solution called Finago AI Build, which enables co-creation partners to build their own AI agents and automate workflows on Finago’s open platform.
The new capabilities cover nearly all financial management areas from processing invoices and receipts to accounting and reporting, and searching for professional data. Finago’s first generative AI features have already been available to customers for a year through Ask, its conversational interface, which is currently used by around 1,000 financial management professionals. AI posting for purchase invoices has been available for considerably longer and to a much broader user base. The launch reflects a wider shift in the financial management software market from individual automations towards natural-language workflows and AI agents that carry out tasks.
Finago moves the industry towards a more data-centric way of working from a process-oriented model. The company is expanding the ways its systems can be used and developing an open platform that lets customers connect their own tools. As the platform’s first concrete component, Finago AI Build gives co-creation partners a no-code interface for building AI agents and workflows. An accountant or finance lead, for example, could create an agent that highlights topics requiring attention each morning covering several customers’ accounting, or automatically produces weekly reports.
“Bringing AI into financial management requires precision and trust. The data is business-critical, tightly regulated, and it belongs to our customers, not to us. It is processed in Europe, it stays inside their own access rights and approval limits, and it is not used to train anyone else’s models. That is the ground we can build on, and it is why we can open the platform to our partners and customers,” says Lars Engbork, CEO of Finago.
Smoother day-to-day work, faster access to financial data
For businesses, the change means smoother day-to-day work. An entrepreneur who travels between customer locations can, for example, dictate the work completed and materials used on their phone immediately after a customer visit. Finago Procountor then turns the dictation into a draft invoice for the user to review and send. This accelerates cash flow and reduces administrative work.
For financial management professionals, the new capabilities reduce manual work in accounting, reporting and analysis. The software can, for example, send reminders about missing receipts for purchase invoices, compile information and flag anomalies for professional review. Users can also configure AI agents to handle recurring tasks within the access rights and approval limits set in the
According to Sakari Jorma, Finago’s Chief Technology & Product Officer, the biggest change is in how people use financial management software.
“Users tell the software what they need, and the information appears without them having to search for it in the system. Entrepreneurs can manage their own financial administration tasks on mobile, while financial management professionals can shift from compiling reports to interpreting them and supporting customers or company management. Finago AI Build takes this one step further: our co-create partners can build their own AI agents. This is only the beginning: we will continue to expand Finago AI capabilities across both financial management and payroll,” Jorma says.
For corporate finance leaders, Finago AI accelerates the retrieval, analysis and reporting of financial data. The aim is to shorten the time from compiling information to making decisions, freeing up time for business planning and forecasting.
People remain accountable for the outcome
Finago AI products support users and can carry out tasks on their behalf. However, AI is not infallible, so its use in financial management still requires human oversight and judgement.
Finago AI is designed to be transparent and reliable for professional use. For example, assistants that provide guidance on collective agreements identify the sources of their information, helping users assess and trust AI-generated content.
“The role of financial management professionals will not diminish as software takes on more work. Quite the opposite. Less time doing routine work means more time on areas where human expertise is irreplaceable: understanding the bigger picture and offering advice to companies, which is what they appreciate. We design Finago AI so the person stays in control and stays accountable for the decision,” Engbork says.