Entrepreneurship, Accounting & Le Chiffre

Posted on 2/7/17 12:14 PM by Sébastien Leduc

This post first appeard February 3, 2017, on Sebastien Leduc's LinkedIn Profile.  

Accounting is one of those prickly tasks many entrepreneurs and managers struggle with. I completed a short interview with Thomas-Louis, co-founder of the Montreal accounting firm Le Chiffre. We discussed the evolution of the Accounting profession and how technology accelerates these changes. In a short time, the 12-employee company has successfully differentiated itself by adapting to the new realities of the industry.


Sebastien@Amilia: Thomas-Louis, your business has experienced solid growth in the last 12 months. Summarize where you’re at with Le Chiffre today?

Thomas-Louis: Our growth actually goes much further back, nevertheless we did have a great 2016. Since inception, we had the ambitious goal of making Le Chiffre an exceptional accounting firm, changing how Accounting is done for startups and SMBs (Small and Medium Businesses). We are now better positioned than ever: we have a very dedicated crew, a much greater knowledge of the Accounting ecosystem for SMBs, and proof that our disruptive approach is appreciated. We have so many referrals from existing clients that we’re struggling to keep up with the demand.

Sebastien@Amilia: Recently, we had discussed the Accounting profession’s evolution together. Which are the biggest changes affecting professionals of the industry?

Thomas-Louis: First off, many redundant tasks traditionally associated to an Accounting Technician’s responsibilities are now being automated (data entry, accounts payable management, invoicing management, etc). Subsequently, services that were previously inaccessible to SMBs are now becoming the norm. Many SaaS solutions offer much higher performance and resolve a greater number of immediate challenges – all without significant upfront costs.

Better decisions 1.pngSebastien@Amilia: So you’re saying that software solutions like Amilia simplify the administrator’s operations… Why is this such a game-changer?

Thomas-Louis: Less time doing data entry equals more time invested in analysis and Business Intelligence for the organization, while reducing costs. A SaaS like Amilia can help eliminate hours of daily management, helping to focus on value-added tasks like analyzing clientele trends and making strategic improvements on the organization’s services.

In 2017, organizations of all shapes and sizes need to seriously consider software to automate operations and increase data quality – ultimately improving competitiveness & output. This makes the difference between a business focusing on Client Experience and one using these same resources for internal administration.

Sebastien@Amilia: A popular topic of discussion for many organizations – including Sports – is Risk Management and Governance. How is technology helping on such critical interrogations?

Thomas-Louis: Software has allowed organizations to revisit internal processes entirely, forcing a more standardized structure – often times a major improvement. Having only one payment method, limiting data access to authorized personnel, having a centralized management platform: all of which help reduce human error and increase accuracy. A specialized software like Amilia’s allows for faster, more accurate data driving better business decisions.

 Sebastien@Amilia: As an entrepreneur, things are always very busy… Where’s your next trip destination?

Thomas-Louis: I’m thinking of renting a Westfalia and travel Eastern Canada, with my girlfriend and lots of books. I’d love a dose of nature and simplicity!

Sebastien@Amilia: Thanks so much Thomas Louis, I wish us an amazing 2017!

For more information about Le Chiffre, an accounting firm serving the Greater Montreal clientele, please visit: http://www.lechiffre.ca/

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