Puzzle Launches the First Autonomous Accounting Solution; empowering founders like never before

Sasha Orloff
Category: Product Updates

As a founder, you face numerous challenges in managing your business, from operations to growth strategies. Unfortunately, financial management and accounting often take a backseat, causing stress and uncertainty. However, Puzzle is here to revolutionize how you handle your finances.

Our pioneering concept of Autonomous Accounting is set to transform how entrepreneurs like you manage your accounting and financial health, providing unparalleled visibility, confidence, and speed.

What does Autonomous Accounting do? 

Startup founders can now use Puzzle’s Autonomous Accounting capabilities to set up their accounting records and financial statements on their own in a matter of minutes and gain real-time insights into important startup and financial metrics. 

Why Autonomous Accounting matter

In today's startup ecosystem, founders are faced with limited choices when setting up their accounting records and understanding their company’s financial health easily and efficiently. They can:

  1. Learn how to become a bookkeeper and handle their own bookkeeping tasks. The risk? Manual errors and wasted time as founders are not trained on how to be an accountant.
  2. Pay a bookkeeper. The risk? Spending a limited budget on professional services before they are ready.
  3. Do nothing. The risk? Costly mistakes when it comes to compliance and taxes.

Autonomous Accounting bridges the gap between these options, empowering founders to get the best of all options, with minimal risk. Puzzle’s new accounting software provides two choices:

  • Fully Autonomous Accounting that founders can set up and manage on their own, using best-in-class integrations, auto-categorizations, AI assistance, and other rules
  • AI-assisted accounting when they are ready to hire a professional accountant to help them manage their books

How Autonomous Accounting helps founders

Autonomous Accounting has empowered startup founders everywhere to set up their accounting records quickly and understand their key startup metrics such as cash, burn, and runway, without wasting time trying to figure it out themselves (or worse, not accessing any metrics). This newfound visibility helps every founder be set up for sustainable growth from day one. Over ten billion worth of transactions has been processed on Puzzle from more than 700 startup founders across all fundraising stages:

  • Meow, a Series A fintech company that helps treasurers earn the best yields from new asset classes.
“Autonomous accounting is no longer the future, it has arrived. Puzzle is a must-have tool for founders,” says Brandon Arvanaghi, CEO of Meow.
  • CoPilot.money a seed stage fintech company that offers personal finance services.
“With Puzzle, I’m able to easily understand where our money is going and adjust as needed. I love being able to easily re-categorize transactions and see everything in one place. Thanks to Puzzle, I can sleep better at night,” says Andres Ugarte, Founder and CEO of Copilot.
  • Helios Life Enterprises, a pre-seed data and analytics platform that extracts full tonal value.
"As a founder in fundraising mode, Puzzle is a better interface than other similar solutions, and it is more understandable. Their Spend Explorer is very helpful,” says Sean Austin, CEO and Founder of Helios.

Autonomous Accounting helps companies of all stages (pre-seed, seed, venture capital backed) streamline their accounting operations and gain a comprehensive real-time view of financial health so they can make strategic decisions with confidence.

Puzzle's success stories demonstrate how early-stage ventures have experienced accelerated growth by leveraging the power of AI-assisted Autonomous Accounting while working with Puzzle’s network of solution partners, including professional CPAs, fractional CFOs, and tax experts.

How is Autonomous Accounting possible?

Puzzle is pioneering the concept and category of Autonomous Accounting, now made possible by three factors:

  • Technology
  • Timing
  • Market Shift

Technology: Redefining Accounting with Innovation

Puzzle has rebuilt the accounting core from the ground up, combining a double-entry, event-driven, immutable general ledger with a streaming, API-based financial data platform.

This unique solution creates an autonomous, AI-enabled bookkeeper, capable of generating real-time financial statements, insights, variance analyses, and reconciliations on demand.

The system monitors transactions, cleans up categorizations, implements accounting policies, and continuously learns and improves. Even individuals without accounting or finance knowledge can confidently understand their financial metrics and ask important questions about their business's financial health.

🦉 What exactly is autonomous accounting? A single system that automatically generates real-time financial statements with accompanying financial metrics, insights, variance analyses, and reconciliations, whenever prompted.

But the benefits continue…

  • Autonomous accounting operates with consistent efficiency and without complaints while monitoring every transaction, cleaning up categorizations and vendor names, and preparing reconciliations for review.
  • Autonomous accounting can start to recognize and implement accounting policies, and what is out of policy.
  • Autonomous accounting is a system that learns and gets better every day. In Puzzle’s case, the user is always in full control, deciding how much autonomy to use: fully, partially, or none.
  • Autonomous accounting will allow founders or business leaders with no accounting or finance knowledge the ability to ask the what and understand the why.

Autonomous accounting is like having your own 24/7 bookkeeping assistant that is constantly learning and improving with every interaction. But just like autonomous driving, you still have to tell the car where to go, and the system still has to follow the generally accepted rules of the road to get you to where you want to go.

Timing: The Perfect Convergence of Technology and AI

The convergence of technology, APIs, automation, and advancements in AI has paved the way for autonomous accounting. With the advancements in AI technology, the capability to understand accounting and financial transactions has significantly improved.

Puzzle offers a modern alternative to traditional accounting software by leveraging API-enabled financial software. Puzzle achieves autonomous bookkeeping, insights, and variance analysis in a comprehensive solution by integrating controllable AI into workflows.

Market Shift: Accounting as a Strategic Partner

Accounting departments must evolve to become strategic partners, harnessing financial data to drive business improvements. Legacy accounting software often falls short of delivering timely and valuable insights.

Puzzle bridges this gap by providing founders with a compliant, scalable foundation for taxes, fundraising, and real-time financial insights.

Accountants benefit from AI integration, enabling a greater focus on valuable advisory services while enhancing the client experience.

Puzzle allows founders to solve the dilemma of choosing an expensive bookkeeping solution or nothing on day one. The result - most choose nothing. Instead, Puzzle gives them a compliant, scalable foundation for taxes, fundraising, and real-time financial insights with a network of on-demand bookkeepers and tax experts when ready.
Puzzle allows accountants to do more with less. By adding AI to existing workflows, autonomous accounting provides more focus on valuable advisory services while creating a delightful client experience focused on improving the business.

We are just getting started!

Autonomous accounting represents a paradigm shift, emphasizing efficiency and effectiveness without replacing human professionals' expertise. Puzzle continues to invest in workflow automation, exception handling, and time savings to enable better decisions with higher confidence in less time.

Join us on this exciting journey! We value your feedback and strive to make Puzzle even better for you.

Puzzle rebuilt the accounting core from the ground up

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Sasha Orloff
Cofounder & CEO @ Puzzle

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