BusinessWire India
Bengaluru (Karnataka) [India], June 5: Refrens.com, an ERP and accounting system for SMEs, has today announced the launch of FREYA, an AI-powered accounting agent to help them get business insights and make CFO-level financial decisions in real time.
Freya's capabilities extend beyond basic accounting functions to provide comprehensive analysis across invoicing, compliance, inventory, payments, vendor management, and expenses. The AI agent transforms days of waiting into seconds of action, with business owners able to access critical business & financial insights anywhere, anytime through their mobile devices in natural language.
"The traditional approach of waiting 2-3 days for financial insights is no longer acceptable in today's fast-paced business environment," explains Naman Sarawagi, CEO of Refrens.com. "Whether businesses rely on outsourced accountants or junior assistants, the delay in accessing critical financial data has been a persistent challenge. With FREYA, we are fundamentally changing how business owners interact with their financial data, making real-time insight-driven decision-making accessible to everyone."
As per an industry report, only 22% of organizations track their financial performance daily, highlighting a critical gap in real-time financial decision-making capabilities.
Refrens.com has also announced plans to extend Freya's capabilities to its Sales CRM module and eventually launch it as a standalone agent compatible with third-party platforms. This expansion aligns with the broader trend of digital transformation in businesses, particularly among SMEs, which are rapidly adopting AI-driven accounting tools.
"While AI adoption is growing at a rapid pace, how you use AI in accounting is very critical, as the precision required is different from generating images or videos. A minor error could lead to disastrous outcomes for businesses. I am excited to announce that we are among the first ERP and accounting software to launch an AI agent."
The launch comes amid rapid growth in the AI accounting sector, which is projected to reach USD 37.60 billion by 2030, with a compound annual growth rate of 41.27%. This growth reflects the increasing recognition of AI's potential in financial services, with 83% of accounting professionals already acknowledging AI's presence in their workplaces, though not in their core functions.
As businesses increasingly seek ways to streamline their operations and make data-driven decisions, solutions like Freya could play a crucial role in shaping the future of business financial management. Refrens.com's plan to expand the AI agent's capabilities suggests that this is just the beginning of a broader transformation in how businesses handle their financial & business data.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
