Name: Campfire Product Demo - Accounting Intelligence Special (October 2025)
Uploaded: 2026-01-21T23:26:02.811Z
Duration: 29 min 1 s
Description: Campfire Product Demo - Accounting Intelligence Special (October 2025)

Transcript for "Campfire Product Demo - Accounting Intelligence Special (October 2025)": Hello, everyone. Welcome. Thanks for joining the webinar today. One of the most exciting webinars that we've ever had over here at Campfire. And for those of you know, you know and for those of you don't, we'll explain why in just a second. But I'll give a couple minutes, one or two minutes just for everyone to kind of feed in into the room and then we can start off with the presentation today. But I'll give it another minute or so for people to squeeze into the room. While we do that, I'll actually do just a quick intro of myself and my partner here, Race. My name is Hank. I lead technical sales over here at Campfire. So I'll be leading today's webinar and today's product demonstration. And if you enjoy what you see today, if you like what you see, some from myself or my team will be walking through the deeper product demonstrations to get you comfortable if you're looking for Campfire to be your next accounting and ERP platform solution. But we also have Race Peterson on the call today. Race, if wanna do a quicker intro of yourself as well. Hey, everyone. My name is Race Peterson. I am the machine learningAI engineer here at Campfire. And we've been able to build some cool products within the Campfire ecosystem, and we're excited to talk about them. Awesome. So for those of you who don't know, Campfire this week announced a $65,000,000 series B round led by Excel Capital and Ribbit as well. So tons of excitement within this category and for Campfire as a company. A little bit about Campfire is that founded by John Glasgow, our CEO, really wanted to build an ERP platform that of course was AI native, but accomplished a lot of and fixed a lot of the issues that were in a lot of the existing ERP solutions. We found traction really early on and our Series A was just raised about twelve, thirteen weeks ago led by Excel. Y Combinator did our seed. Then just like I mentioned a little bit earlier ago, our Series B round was raised by Excel and RIPET Capital for 65,000,000. We've raised $100,000,000 just in the last twelve to thirteen weeks, and we're using that to really expand with the engineering team. Especially for Ray's team as well to hire on additional AI engineers to build a couple of really fantastic products we're very excited to announce today. Some other information about us right now is that we're trusted by companies across all sorts of verticals and categories and industries. Replit, CareRev, Trust and Will, software companies, healthcare services companies. Boomero is even one of our customers as well. So aerospace manufacturers, they'll build supersonic jets out there in Colorado. They're one of our customers that is trusting us to handle all of their inventory and warehouse data. One other customer that's on us as well is Lima Capital. So we have public customers onto Campfire as well. They're going through ITGC testing, internal controls testing, and are using us for their books for public companies as well. So a variety of companies and industries are trusting Campfire with their financials. I think one of the big reasons why we wanted to start Campfire is that we saw that there's a lot of issues with QuickBooks and Xero. They are very cheap, but you miss a lot of the core accounting functionality. So you don't have prepaids and revenue recognition, fixed assets. There's no approval workflows when it comes to internal controls. And one of the biggest things we hear from our QuickBooks friends is that they have like five different subsidiaries or entities and that's five different instances of QuickBooks. And you have to do all of your currency consolidations and subsidiary consolidations all within Excel. And then for our friends on NetSuite or Sage Intacct, which is about 30 to 40% of the customers that come on to Campfire, They pay a ton amount, but despite all that what you pay, you still do a ton of manual accounting tasks when it comes to categorizing and batching and transactions. It's a user interface that was built like fifteen or twenty years ago. And of course, all these tools, there's no real native artificial intelligence, which means that all the database structures were built before, of course, AI came within mind. So they're not ready for the AI wave and what AI can do to help you automate a lot of the manual tasks that you have today. Campfire is the AI native, premier AI native solution, ERP solution for mid market businesses. And one of the biggest reasons why is that we are the biggest AI native ERP solution that was actually built after ChatTubity three point zero was released, Which means on the database structure within Campfire, it's ready for all the specific dimensions and customizations that you have within your database structure. So it can be queried into the AI models that we have specifically to capitalize on lot of the automation that AI can provide for you. And AI is really center of Campfire AI right now. Raise, if you want to give a little bit update about what we're building over here in terms of AI within Campfire AI. Yeah, I mean, the first thing we'd want to mention is that is an evolution coming to the currently implemented Ember AI. Ember AI right now makes great reports. It's our generative kind of a chat bot solution that helps aggregate data, come up with reports, but that's going be getting a facelift and Ember two point zero will be, the back end solution for agentic workflows, essentially meaning that you'll be able to give orders to Ember two point zero, agents will be able to asynchronously complete tasks on your closed checklist. So that's something that's exciting, an exciting evolution for the things that we have currently implemented already. On top of that, Campfire AI AI will be, we have developed our first foundational large accounting model is what we're calling it, or LAMB for short. This large accounting model is trained to complete hard or manual tasks at scale. So a lot of the things that we're kind of honing in on, trying to make sure that we're able to complete with high accuracy are things like start up account labeling, matching, merging. These tasks that take a long time for finance teams to work through will be able to be done at scale with our proprietary large accounting model. This has been trained already, is implemented in some customers, we're seeing good results and we are excited to onboard even more customers to be able to work with them, to help them eliminate a lot of the manual labor that has to go on in today's current ERP setting. And Rayce, I think a couple of the really big exciting aspects is that one, we already have Campfire AI today, which is kind of the natural language chat interface we have within Campfire. But Campfire is evolving to Campfire two point zero. We'll actually be able to build agentic workflow tasks with you within Campfire. So, like, you'll be in your close checklist race. Right? And you'll be able to hit, like, build me a legal accrual, and then Campfire will actually go off in the side and generate all the math it's doing to calculate what the accrual should be or to do like a missing accrual analysis and actually build agents on top of the Campfire platform. Is that right? Yeah, right. So all of these tasks that you have, especially in ones that have introduced to Campfire one point zero, you'll be able to now have and build agents to go and do those things in Campfire two point zero for you asynchronously. So you won't have to monitor it, watch it, you'll be able to go out do the task for you. Awesome. And then, Race, you also mentioned that large accounting model. So we are gonna be the first ERP platform that has our own proprietary foundational large language accounting, and LAM model within Campfire. So our own foundational AI model within the platform. Right? Yes. Yeah. Yep. And then, Race, one last thing. Like, every single customer that signs on the Campfire AI will have their own, like, micro model that's fine tuned to their historical data to do, like, transaction matching, GL coding, everything like that. A lot of the very small manual tasks will be automated for them based off of their own account specific model. Right? Right. So the large accounting model isn't the universal solution that every customer will see. It is the, structure that will enable us to scale easily. So, whether you, so if you are a customer on Campfire AI, you will get, like Hank was mentioning, fine tune versions of this large accounting model that will be able to do these rote tasks for you specifically. This large accounting model is just a good foundation for those micro models to be able to go and do these manual tasks to help save you time. So yeah, you're totally right. Awesome. Well, with that, I'm happy to pull up the product demonstration right here and we can walk through the product demo. We'll be showing a couple of the features that we're building right now and some of the existing AI features that we have within platform today. But again, Campfire AI is a full ERP platform that does of course all your journal entries, integrations to AP and AR tools, all board to cash and invoicing, vendor bills, cash flow management, reporting, everything like that comes out of the box. This is the front page of Campfire. So when all of your reports and metrics come in, this is where you'll be able to see them. A couple reminders too about overdue receivables and overdue payables as well. We're very strong when it comes to generating bespoke KPIs and metrics out of Campfire. For you to able to track into the financial visibility of your company. We're very strong in these KPIs. We're very strong on internal reporting as well. So when it comes to GL reporting, full functionality when it comes to generating income statements, balance sheets, cash flow statements, the trial balance, everything like that. This is an income statement. If we open up OPEX here, can see some of the geo accounts underneath it. The first thing I really want to highlight is that Campfire is fully multi entity. You can set as many entities and subsidiaries as you need to out of the box on day one within Campfire. We're looking at historical p and l here. We can see it broken out by entity one, entity two, the elimination subsidiary, top level, and the consolidated toll. So full consolidation capability within Campfire. We even track all your intercompany transactions and automatically book them to the elimination subsidiary for you. So when it comes to consolidation automation, those are all functionalities that we have out of the box within Campfire. Full multi entity. We're also pulling multi currency, we can set up as many different currencies as we need to within Campfire as well. So across all of your different currencies, we track the transacting currency, whether it's US dollar, Canadian, Euro, GBP, India, Rupee. We actually bring in all the exchange rates for you on a daily basis as well. And we do all the revaluations for you. Revaluations when it comes to transactions and also period close with month end averages for income statement accounts or spot rates for balance sheet accounts as well. Realized and unrealized gainloss. So if you're multi entity and multicurrency and you're struggling right now in your current accounting or AP solution, we've solved that for hundreds of customers today within Campfire. Fully multi entity and multicurrency, also have the ability to create as many custom tags as needed. So when it comes to custom tags or custom dimensions for your reports, whether those are department and cost center, lines of business, location, product lines, verticals, projects, unlimited custom tags we can create within the Campfire platform. And one of the really great things is these are all API endpoints as well, which means that if you're plugging in information, whether from CSV or your API pushing in data within Campfire from an integration, All those custom fields you have within a ramp or your payroll platform or your invoicing billing collection, those can all get pushed into Campfire and you can track very detailed information within the Campfire platform of all those custom fields and custom dimensions that you'd like to track. One really cool thing that a lot of people like is that all those custom dimensions can then also be queried from the AI tool as well. So in a second, we'll see Ember AI and we can ask you questions about, hey, we added a custom dimension about locations or a custom dimension about some of the conferences or projects that we have. Can we ask questions about what's conference P and L or what's a profit we made on this one specific work trip that we had? All those custom dimensions can be asked in natural language to the Ember AI product. We can ask it really just in natural language, bespoke questions or queries about all of your data within the platform. In a second, we'll go over Ember AI. But one other thing that we have when it comes to geo automation is we have a full period closed checklist. So if anyone here has ever used a FloQast or Numeric before, we have a full period closed checklist that comes with automation for tools. So if you want to amortize prepaids or if you want to depreciate your fixed assets, you if wanna eliminate your intercompany journal entries or revalue your foreign currencies, which is a click of a button right here, we can hit run, and we'll auto generate all the journal entries for, like, an amortization, for example, on a month by month basis. So these are all tools that we have out of the box today when it comes to automating your accounting. And then just like Race mentioned about five or ten minutes ago, we are building agentic workflows within Campfire, which is releasing in early twenty twenty six, where, for example, you'll be able to hit out of flux analysis and Ember will actually generate the flux analysis for you on a month by month basis as part of your period close or book a legal accrual or calculate what that legal accrual should be. We can actually show you right now what a lot of these processes look like. This is Ember. This is our AI tool that's built on top of the platform today. Natural language you can use to ask questions. We can say, hey, we're trying to close the book, so please build an August 2025 flux analysis. Use a 5% threshold for fluctuations, $2,000 materiality threshold. I'll put enter into here, and it'll actually in natural language prompt the system to accomplish a task for us. In this case, it's generating a flux analysis. And what the tool will do is it'll find all of your ending trial balance values on a month by month basis and say, hey, what's the difference between sales rep and service revenue on a month by month basis? What's the percentage difference and the dollar value difference? And what Ember will actually do is it'll actually go on a journal entry level. It'll read all of your journal entries of your vendor bills, all your customer invoices on a month by month basis, and actually tell you what's the difference on a monthly basis. So here's your GL account, period one and period two, the differences. And the most important thing is that we'll actually generate all the commentary for you as well. Because Ember actually develops an understanding of your specific account and your specific instance based off your journal entry detail, it can actually identify and tell you the reasons why there's differences on a monthly basis between your accounts. If there's significant revenue recognition entries from a specific customer, they'll identify those transactions. If there's a shift from one vendor to another on a monthly basis, it'll identify that vendor shift as well. If there's a specific dollar value or accrual that's in one month versus another, it'll identify that specific journal entry even that highlights that difference. And of course, these are all exportable back to Excel or CSV. What tons of customers are doing today is that they're having AI actually draft the flux analysis, exporting it back to Excel. And then when they go back to the GL data to investigate what the difference is, the first thing they're gonna look for is what is this revenue recognition entry from this specific customer? It's the first thing that's gonna be looked for because that's what Ember identified. And then, of course, this is gonna be an automated process through AgenTeq workflows when Ember two point o is released. So a lot of very exciting things we can do. One of the things a lot of customers are doing is they generate this flux analysis or a deeper budget versus actual. And they'll say in the chat context again, hey, why did engineering spend go up? Or why did marketing go over budget for this specific month? And Amber can actually go back into transaction detail and find and identify the reason for you based off of natural language queries into the system. We can ask it a bunch of different questions as well in natural language. So we can say, hey, we're trying to, and I'll zoom in here in the bottom left, trying to close the books for September 2025. We want to do a missing accrual analysis. Can you look at vendor bills that were entered into the system in October 2025 and highlight all of the potential vendor bills that could represent missing accrual for September 2025 as well as the reason why they could be high risk for a missing accrual. So we can put kind of a natural language to these questions. And of course, again, just highlighting that in a couple of months, these will all be agentic workflows that run automatically for you at period close. What our tool will actually do is look, it'll find all the source details. So you actually have all the source data, like the raw source data that comes in. These are all the vendor bills that have come in. And you can see based off the post of that dates within October, it'll look through all those vendor bills here. And of course, you can download this and tie it back to your source data. It'll find all the AP analysis. You have the raw data that's pushed into the system, whether those are journal entries, vendor bills, invoices, everything like that. It'll actually spit out the list of potential high risk vendor bills here. So you have the vendor here, the GL account, risk level, and the reason for why potentially could be a missing accrual. What we're also seeing a lot of customers do is using this task is, hey, we get like a vendor bill that comes in always like two days late on like the next month. Use kind of your historical analysis of when these vendor bills come to expect if we're missing a vendor bill or missing an accrual. So it's a really great task that we run-in the background as part of your period close process to see if you're missing an accrual, if you're missing a prepaid amortization, if you're missing any of those transactions within Campfire as part of your month end close and just automate this process specifically for you. What customers will do as well right now is actually they'll go back into like a new chat and they'll see like all these missing accruals that potentially high risk for accruals on missing accrual and they'll say, hey can you book a legal expense accrual journal entry? Actually, let's say, you prepare journal entry for September 2025 using a three month historical average? So if you do find a missing accrual, you can actually ask the tool to generate the journal entry for you as well. So what it'll do is, hey, what are all the legal expenses in the last three months? So here's a raw transactional detail for all the legal expenses. They actually try to find, like, what are all the related legal expense GL accounts in the first place? What's the accrual accounts? What are all the vendors that are related? And then it'll actually generate and do the math for you for, like, what the journal entry should look like when it comes to preparing the the entry. And, of course, like all the entries, and we'll give it a second for it to generate all of the entries that Embryo creates. And you can see here, it's doing the math for you. So the three month historical average and it prepares the journal entry for you. So it doesn't book the entry. It just prepares the entry for you where then you can hit create transaction right here. Fix any of the dollar amounts, maybe put a reversal date for the first of October. Change who the vendor is, departments, custom tags. Once you hit create transaction, that's when it actually posts the ledger. So it actually has kind of approval step like an air gap to make sure it's not just posting entries behind your back. You don't know, like, AI is posting entries. It just prepares the entry for you to save a little bit of time. And then, of course, in the back end, like, workflows within this entry, if you go back to the audit log, it'll tell the system that was created via Ember and then it'll have the URL. So you can actually see and look back to what all these calculations were when you're actually auditing this transaction as well. So you kinda see here, and then the future what's gonna happen is that you'll just have a very, very detailed closed checklist here where you'll have, like, look for missing accruals. Once you find a missing accrual, calculate what the transaction entry should be, prepare the journal entry, and all you're doing is actually just reviewing these transactions on a live by live basis instead of having to go back and do the manual work to search for these entries and to actually book them yourself. We have all the components there to build like really great and fantastic agentic workflows to help you out when it comes to to automating a lot of the period closed checklist steps to close your books a lot faster within Campfire. So the closed checklist, MbrAi, generating all these entries and doing all the back end math and calculations and searches for you. One other thing that Race mentioned is something we're releasing too is like LAM, the Large Accounting Model. We are building a foundational model within Campfire. The reason we did it is because we heard so many customers say that we've looked a lot of the other kind of ERPs with AI native tools. We look at the other ERPs with AI native tools and they were worried that, hey, we don't like the idea of pushing all of our transactions into an OpenAI or an Anthropic. We have like in crazy security requirements or compliance requirements. We want all of our data to be stored locally with just our instance. And that's why we created LAM, which is again, a foundational model that's trained just entirely off your specific account. It is our own model with our own GPUs that we built. It doesn't go to OpenAI, doesn't go to Anthropic or any of those other foundational providers. We built the model ourselves and it's trained off just your historical data. As part of our implementation, we will bring back every transaction that you have in your current accounting system, all your historical journal entries, historical vendor bills, historical customer invoices, and then we localize them to your account and train off that historical data. So that in the future, when your transactions are pushing through, we are automatically categorizing every transaction that flows in from the bank statement. So when you connect your banks to Campfire, what actually happens is we just read the descriptions of those and we provide a recommendation to what GL account it should go to. So for example, if it sees the word rent and it sees the word rent and you'd see is like we've had a very similar transaction and you mapped it to rent expense. It'll remember that because there's a learning process involved and it'll recommend for us to book it to rent expense. And all you need to do is just hit approve here and it'll approve the transaction. Or if there's something that doesn't specifically right, you can actually click into the account here and then you can teach Campfire something new, which is that, hey, it sees the word events right here. I think it should go to conferences. But if let's say it needs to go to a different GL account, you can select what that correct GL account is that you wanna categorize it to. And Campfire will learn actually based off of those recommendations and you reteach it back into the system. So both we are making recommendations for what GL account should go to. You see meta ads, paid ads. I think you saw the word job post and put it to recruiting or consult Delta Airlines at travel expense, SoCal Edison is utilities, everything like that. So use the word Uber and if it's a travel expense. So these are all recommendations that the AI tool is actually pushing in to auto categorize every transaction that flows into your system. So our goal is that for your accounting teams, instead of everyone having to be prepared, everyone gets a promotion where they're now a reviewer within the platform. So they're just reviewing transactions all day and teaching the AI new things what's continuously improving that's just localized to your specific account. We even do suggested matches too. So if you have an issue with like, we get all these invoices that are open and we get paid for them, but we have no way to match between open invoices and payment receipts. We even have reviewal processes where we can match between invoices and transactions. And we do it by dollar value, by description, by customers, by dates, everything like that. Where we can actually auto manage between invoices and transactions. So these are a couple features that we're releasing when it comes to the large accounting model that's localized to just your account. So again, all you're doing within the system is just reviewing transactions that the AI is making recommendations for you to match. So tons of exciting things that we've released already and releasing in the future. For our current Campfire customers who are on the call, I see a couple of you on here. All these tools are available now within the beta. So just reach out to your sales rep or reach out to your Campfire Connect and we're happy to set up your local accounting model, your large accounting model as a beta within your tool and within your system. So with that, very excited to show you what we have today. If you're a new customer or a new prospective prospect that's interested in Campfire, someone will reach out after this call and they'll reach out and kind of ask if there's availability set of a product demonstration and someone from my team will walk you through a very detailed what Campfire is all about and what Campfire is building. So we're very happy and thank you for everyone who came for the Q and A. Happy to answer a lot of questions online. Matt, is there fine tuning necessary because everyone's COA is different? Absolutely. We do fine tune them. Race, if wanna make a quick comment. We have two minutes, but Race, wanna make a quick comment on the fine tuning? Yeah, right. The foundational model is foundational. It's not necessarily the thing you interact with. You interact with the adapters that know exactly who you are as a customer. They know exactly your chart of account. They know everything about you and, they help, they will make these suggestions. The foundational model is just the intuition of accounting. Yep. Ray, so it trains off your specific, chart of accounts as well, every unique chart of Exactly. Exactly. So so yeah. So every every customer gets their own arsenal of of tuners that will make these suggestions, matches, labels, everything. And then we can also do, like, flux versus budget as well for Ember. We have infinite budget SAMs. You can set up as many different budgets as you need to. We didn't show it today, but like inputting in those budgets infinite by department, by entity, everything like that. Same thing. We can look for historical accruals versus trends too. So that's something that Ember can do. And then when it comes to some of the q and a questions, will it be able to generate first draft budgets? We have absolutely seen that where it's not Tiffany, it's not just for your budgets, but it's also your reforecasts too. So, like, if you're, like, one quarter in and you do, like, a q one reforecast, we even have seen Ember generate a reforecast, export it back to Excel, and then import it back to Campfire to do your, like, reforecast versus actuals or everything like that. And then Ember is right now plugged into Anthropic but that's why we're training the large accounting model where it'll all be foundational within the Campfire product. It's our own foundational tool. So that's something that we'll actually give the option to whether if you want to use like a third party tool and we're also releasing MCP to connect those tools or again, we have large accounting model which is Campfire's own internal persona chat context that we've created based off our own foundational models. It's our GPUs that we have and it's our internal model. So super exciting and we're the first ERP system to do so and announced to do so. So hopefully you can kind of see a lot of where the product velocity is going within Campfire and where a lot of the money that came in is going towards to really help improve the lives of lot of accountants and to change everyone from repairers to just reviewers within the platform. So with that, I want to say thank you so much for taking the time today to hop onto our webinar and hopefully you can see a lot of the excitement that we have within Campfire. So thank you so much and hopefully we'll see you soon. We'll be talking to you in a second about what Campfire can do for your business. So thanks so much everyone.