Dražen Raičković, CEO of Oxiom DOO, spoke about how the AI accountant "Oxiom FinBot" addresses the challenges businesses face. He said the solution "does not only increase enterprise efficiency — it also drives the development of the digital economy in Montenegro."
Project origins
The "Oxiom FinBot" project emerged as a response to the difficulties faced by micro, small and medium-sized enterprises — particularly the shortage of qualified accountants, rising costs, and increasingly complex regulations.
It grew out of a project financed through the Directorate for the Financing, Contracting and Implementation of EU Assistance Funds (CFCU — Central Finance and Contracting Unit), where the Oxiom FinBot initiative evolved into the Oxiom company.
Main goals
The primary aim is to automate accounting, administrative and legal processes using artificial intelligence. Key focus areas include:
- Autonomous bookkeeping and financial reporting
- Tracking legal changes with automatic updates to compliance rules
- Improved operational efficiency that frees teams to focus on strategy
Business benefits
According to the article, Oxiom FinBot delivers:
- Faster, more accurate data processing through task automation
- Reduced costs by eliminating the need for additional resources
- Real-time financial information for informed decision-making
- Regulatory compliance through automated monitoring
The solution is particularly well-suited to smaller businesses that lack access to expensive accounting services.
Pilot results
Several pilot companies tested Oxiom FinBot with outstandingly positive results — users highlighted significant time savings and improved decision-making capabilities.
The integration with Proventum ERP received particular praise, as it enables comprehensive end-to-end business process management.
Plans for the future
The team plans to expand AI functionality into legal and administrative domains, and to deepen ERP integrations to build complete business solutions.