Startup uses new law to digitize company accounting

Basement’s focus is a platform on which companies can manage their stock options — the name of a company’s stock purchase program aimed at its own employees. As the new law 14.195/2021, approved last week, should reduce the accounting bureaucracy of Brazilian companies, the São Paulo startup should take advantage of it to gain more customers.

The law established the Integrated Asset Recovery System (Sira), which should facilitate the identification and location of a company’s assets, debtors and assets. One of its principles is to encourage the “rationalization and economic-financial sustainability of information technology and data communication solutions”. Among the foreseen consequences is the digitization of the companies’ accounting books. Now they can be authenticated electronically.

This matches the Basement platform, which in addition to giving employees the opportunity to monitor their stock options, offers solutions for equity (company equity) and cap table management, a table containing the company’s shareholders and other related data , as percentages of share participation and equity value in each investment round.

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According to Exame, Basement has already raised BRL 5.9 million and although it initially had other startups as its target audience, the possibilities opened up by the new law made it consider seeking bigger flights and keeping an eye on companies of the joint-stock company type of privately held. New legislation now allows them to use digital platforms in their accounting.

“Stock options were something whose importance we had been evangelizing. Now, we have a market in which there is the possibility of solving the problem of controlling participation in corporate books”, said Frederico Rizzo, CEO of Basement, to the website.

As a result, Basement has already sought out commercial boards to electronically validate the accounting books of more companies by the end of the year. He also hopes that the reduction in bureaucracy will lead these companies to create or expand their stock option programs.

Source: Exam

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