Developers, disrupt the tax software.

Until around 2020, ERP systems were used by relatively few businesses. Typically, these were larger companies seeking some level of automation, but mainly internal visibility into their numbers—knowing “where they stand” without waiting for month-end closing. Then myDATA arrived and reset the rules of the game: from that point on, software was no longer required to serve the business alone; it also had to communicate with the state, transmitting data on sales, purchases, and expenses.

The problem is that existing software is outdated. Suddenly, with the digitalization of processes, it had to jump into a new era. And what happened was predictable: no one built anything new. They just added buttons. A system that had 30 options became 40, and because that still wasn’t enough, it was stitched together with hacks, bridges, and “creative” visualization methods that require clairvoyant skills just to locate—let alone operate. Of course, the classic response was “you can do everything,” followed closely by “someone will come show you, and then everything will be automatic.”

So how did such poorly designed software flood the market? Why hasn’t anyone come out with something genuinely new? And, most importantly, what do developers believe is the real barrier that prevents them from building new tax software?

Let’s start with the basics. Many developers believe the tax domain is excessively complex. It isn’t. The tax authority (AADE) has everything clearly defined. You know what to build and how. With the help of an accountant, the framework becomes entirely understandable. There is no “technological” reason keeping anyone out of this market.

The second point is distribution. How did software spread to businesses that had nothing before myDATA? Existing software companies did something brilliant: they sold to accountants. Accountants, already using accounting software, started recommending the same vendors to their clients. And because a large portion of accounting offices rely on a single provider, that provider rapidly spread across thousands of businesses. A closed ecosystem emerged where everyone is comfortable: vendors sell, accountants stick with what they inherited, and entrepreneurs follow instructions.

Now, if you look at accounting software itself, it’s hard to believe the chaos unless you see it. I challenge you to do an AnyDesk session and watch menus open like Niagara Falls. And then there’s the “AI.” Vendors released a module with a few calculations and sprinkled in the word “AI.” You download it, try to use it, and discover the “AI” is a forecast calculation—a division and a multiplication—basically an Excel file. Accountants are understandably frustrated because these tools were built on top of legacy systems, without a new architecture.

In reality, neither commercial nor accounting software vendors are incentivized to evolve. They operate in isolation, sell in isolation, and everyone is stuck on a hamster wheel. A common argument I hear is: “The Greek market is small—how can software be profitable if it only targets Greece?” That argument is collapsing. The EU is implementing harmonized invoicing rules across member states. The market is opening. This isn’t theoretical—it’s already happening in multiple countries. With ViDA, we’re moving toward a single electronic invoice format and a unified VAT return across the Union.

All this leads to a key conclusion: myDATA—and the broader “European myDATA” that’s coming—actively encourages the creation of much better ERP and accounting systems, similar to QuickBooks, with one critical advantage that most people miss at first glance. The data is not on your server. It’s with AADE. Remember this—it fundamentally changes how a product builder should think.

Having outlined the problems, here are some proposals based on my experience and research into systems in other countries. Obviously, this doesn’t target enterprises running SAP. We’re talking about small and mid-sized businesses—the majority of the market.

The ideal workflow is simple: the business and the accountant operate on the same platform. No separate systems. Think QuickBooks or Xero.

The business issues invoices. Whether it tracks inventory or provides services, it invoices and simultaneously uploads data to myDATA. That upload already creates tax forms such as VAT and income tax declarations. The entrepreneur knows their revenue in real time. Initial configuration is handled by the accountant for control and compliance.

On the expense side, if purchases are made from Greek suppliers, the business sees invoices already submitted by vendors, and the accountant classifies them. If purchases are made abroad, the company records them into categories, and the accountant later classifies them. All expenses are stored digitally. Scanning includes OCR, automating most actions, while the accountant applies professional judgment for classification.

Here’s the critical point: before classification, the entrepreneur already knows their expenses. Once the accountant classifies them, VAT and income tax forms are automatically completed. Bank transactions flow in automatically via APIs. Cash payments are entered manually. With a single report, the entrepreneur sees real-time results and cash availability—whether or not classification is finalized. The accountant generates forms online, with real-time access to source documents, without redundant parameters.

All of this sounds obvious. None of it happens.

To set up invoicing software, you must speak to the accountant. If the accountant lacks technical knowledge, you also talk to the IT consultant. Then comes the broken telephone. Eventually, maybe, it works. At ACNT, we became part-IT, or we talk directly with vendors, because what entrepreneurs endure is pure friction.

Even after invoicing, most systems leave you unsure whether data actually reached myDATA. Hours are wasted on checks. Accounting software exists in a parallel universe. Accountants pull revenue from myDATA into their systems, post entries to complete online forms, while juggling multiple internal parameters—even though classification already solved the problem. On expenses, documents arrive “somehow,” get entered, and then reconciled again with myDATA. Double work. Add shared folders and endless email chains, and the inefficiency multiplies.

Because reporting relies on internal postings, entrepreneurs must wait—at best—a month to see results. But the data already exists in myDATA, even if incomplete. In our office, we’ve built real-time Excel integrations to provide immediate insight. Software could already do this.

Bank integration is another story. To reach it, you need the vendor’s top IT specialist—expensive. The company must re-engineer legacy systems, which is also costly. Instead of simple reference-based reconciliation like Stripe, transactions arrive messy, and everyone struggles.

Finally, the classic accountant concern: “Where’s the chart of accounts? How will we produce balance sheets?” This requires some configuration, but myDATA classifications map cleanly to chart-of-accounts codes. Combine both with AI, and for most businesses the solution is nearly complete.

And this is where AI actually matters—not as marketing, but as leverage. Developers already see the potential. From an accountant’s perspective, revenue and expense classification doesn’t need to be manual. Rules are clear. Categories can be predefined. No manuals. No IT consultants. Accountants and businesses operate on the same platform. Review, approve, done.

With a chatbot, entrepreneurs and accountants generate any report they want—real-time results, forecasts, analysis, compliance checks, unclassified items, and missing myDATA submissions. Business intelligence and tax compliance, unified.

Add integration with AADE for liabilities and payments. Add guardrails—no back-dated invoicing, no arbitrary classifications. You finally have a platform that makes sense.

I’ll stop here. This is already long. But the goal is to shake a competent professional group—developers—and push them to explore this space. Accountants and entrepreneurs are in a desert, waiting for water.

Postscript: Two or three years ago, I sent a cold email to QuickBooks explaining the opportunity in Greece and Europe. A week later, I joined a Google Meet with an Indian representative. Everything went well until I said “myDATA.” He thought I meant “my data,” assumed I was some government entity holding all business data. After drawing diagrams on paper and holding them up to the camera, we ended the call. I think he understood I was an accountant—but I suspect he still believed he’d spoken to a madman from Greece claiming he “had all the data.”

About ACNT

ACNT covers every accounting and financial need for businesses and individuals, specializing in bookkeeping, tax preparation, and CFO services.

With over 35 years of experience and a team of seasoned professionals, we provide proactive support, accurate guidance, and high-quality solutions tailored to each client’s specific requirements.

We focus on the fields of cryptocurrencies and stocks, start-ups, construction companies, manufacturing businesses, and commercial/import-export enterprises.

We continuously stay updated on industry developments so you can focus on growing your business, confident that your tax and financial matters are in good hands.

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