Executive Summary
The year 2024 marked the definitive transition towards a digitally mature operational management. **Electronic invoicing** ceased being an aspiration to become operational reality for large companies; **artificial intelligence** reached majority adoption in the accounting processes of BMC's clients; and **DAC7** transformed the relationship between the platform economy and tax compliance, with direct implications for administration and finance functions. At BMC, this year was one of consolidation and expansion of our value proposition in operations services, definitively incorporating AI tools into the core of our working methodology.
The level of accounting process automation reached 58% of total processes managed for clients — a qualitative leap from 35% in 2022. The administrative time savings translated into greater capacity for value-added analysis, data interpretation and strategic financial advice.
Key Highlights
Mandatory electronic invoicing for large companies (turnover above €8 million) materialised during the year. The implementation process was in many cases more complex than expected: integration with existing ERP systems required specific customisations, managing change with clients and suppliers posed adoption challenges, and selecting the appropriate platform — among dozens of certified options — involved detailed analysis of features, costs and compatibilities. BMC developed an implementation methodology that reduced time-to-go-live to less than eight weeks for mid-sized companies.
AI in accounting processes moved from pilot to service standard. Intelligent document recognition (IDP) tools, automatic reconciliation and anomaly detection integrated into daily workflows. The result: an average 38% saving in administrative time, with simultaneous improvement in accounting data quality and reliability. This efficiency was reinvested in higher value-added services: advanced analytics, financial forecasting and management consulting.
Managing the impact of DAC7 required adapting tax reconciliation processes for clients active on digital platforms. Systematic comparison between platform income reports and one’s own tax declarations — VAT, personal income tax or corporate tax as applicable — was incorporated into the annual tax close checklist.
Operational Process Analysis
Payroll management 2024: The year brought negotiation of the first collective agreements beginning to incorporate working time reductions in anticipation of the 2025 regulations. Applied average salary increases of 3.8% required updating labour cost planning models. Managing the supplements and conditions associated with reduced working time (in the most advanced agreements) added complexity to payroll processes.
Outsourced CFO and reporting: Outsourced financial management services (outsourced CFO) continued their growth trend, with growing mid-sized companies demanding first-rate financial management without the fixed cost of a full-time finance director. The most valued deliverables were real-time executive dashboards, three-year financial plans and support in financing or transactional processes.
Cloud asset management: Migration to cloud-based accounting and business management platforms was completed for virtually all BMC clients. The benefits — multi-device access, automatic backups, real-time regulatory updates — were complemented by data security challenges requiring more robust access control and identity management protocols.
Changes in Accounting Standards
The ICAC published in 2024 a proposal for revision of the General Accounting Plan, with relevant changes in the treatment of financial instruments and in the information to include in the annual accounts notes. The public consultation process anticipated changes effective for 2026, requiring companies to begin analysing the impact on their accounting systems.
Annual accounts and sustainability reporting regulations consolidated as a permanent area of work for companies included in the CSRD scope.
Outlook
The year 2025 would bring the extension of electronic invoicing to all companies, the 37.5-hour working week with its payroll implications, and the deepening of AI as a standard operational tool. Companies that had invested in digitalisation and automation during 2023-2024 held a structural competitive advantage for the years ahead.
Our operations and accounting technology team continued at the forefront of the digital transformation of financial and administrative processes, offering clients the tools and knowledge to remain a step ahead of regulatory and operational complexity.
