Interview with Thibault Faure, CEO of T2F
T2F is an accounting firm with 450+ customers. They operate in two different locations: Paris and Toulouse. Thibault Faure, CEO of T2F was one of the initiators of Trezy.
Why did Trezy appeal to you?
Trezy answered a growing need that I saw amongst at least half of my customers. This is the need for better visibility on their financial performance. Since the pandemic, the amount of requests for this exploded and the way we do business has totally changed..
What are the limits of your past processes & tools?
We have a heavy fiscal calendar and need to work around it. Some of our customers request monthly reports for their activities.
For our bigger customers, we have a dedicated accounting team offering high quality services at a cost that is acceptable by both us and our customer. For our smaller customers, we rarely recommend them to use our monthly reporting as most of the time it is labour-intensive and more costly.
For example, a restaurant business using Uber Eats or Deliveroo receive their invoice every Monday from the previous week. This means that almost every month, we need to split the first and last invoice of the month to allocate the fee into the correct month. We don't have that information on the invoice so we would need to log in to the Uber Eats & Deliveroo back office to see which amounts belong to which month.
If we didn't do this, the monthly performance of the company would not be accurate as the % of commission will differ from month to month. This is one example of many to demonstrate why monthly reporting is more costly and takes more work from our side.
Another issue about giving these types of reports is the heavy dependance on the business context. For example, we require small shop owners to give us all their receipts, invoices and stock each every month. This is rarely done for large businesses (the monthly stock calculation). Even for small business owners that are very diligent, business emergencies will have a higher priority than giving us all the documents we need on time. Because of this, we will spend extra time creating the report which forces us to charge a higher price to the small business for this service.
Trezy generates accurate estimations of the financial performance of small businesses faster than anyone could do.
Do you think you'll lose part of your turnover by recommending Trezy?
Not at all.
Around 20% of our turnover comes from generating reports. Most of it comes from a request outside of the operations such as from investors, banks, CEOs, shareholders, or due to an audit need. Trezy actually allows us to provide a better service to our small business customers that don't have the resources for it.
What is good about Trezy is that it uses the work we do to make more accurate estimations, so there’s no double work from any side.
Trezy increases the portofolio of services an accounting firm can offer.
What other benefits come with implementing Trezy?
Communication is easier with our customers. With access to 10,000 tools, Trezy automatically gives us access to receipts from our customers and they will know in real time which receipts are still missing.
Trezy creates a smooth collaboration with accountants without changing current processes.