Watch video
 

Powerful Medical is an international IT startup focused on the early diagnosis of cardiovascular diseases using artificial intelligence. Their application compares thousands of ECG records and diagnoses to provide medical professionals with an initial diagnostic insight and accelerate patient treatment.


Our collaboration began back when this innovative project was just an idea. From the very beginning, they approached us with a request to set up their accounting processes. As a tech company working with numerous innovative tools, we had to quickly adapt to new technologies.
 

"From the beginning, our priority was to work with professionals, which is why we went to Eva at BDO. We wanted to work with the best."

Our goal: integrating technologies, thinking ahead, and growing globally

The startup's rapid growth, investor interest, and ambition to expand abroad required more than just standard accounting. Our goal was to design financial processes that were:

• agile and compatible with modern technologies,

• ready for investor reporting,

• scalable for expansion into both EU and US markets,

• backed by BDO’s cross-border expertise and network.

Technology, reporting, tax, and cybersecurity – powered by the BDO network

Agile integration

As a med-tech company, they worked with a number of innovative systems. We were able to adapt very quickly to the diverse programs that Powerful Medical used. We integrated payment gateways and aligned their reporting system for reporting business trips with the local requirements of accounting systems. Thanks to this, the client received reliable and up-to-date data without the need for duplicate entry in different systems.
 

Power BI for investor reporting

We implemented Power BI tools that allowed for flexible financial statements and forecasts—crucial for investor meetings.
 

“One of the first things we implemented with BDO was real-time cost reporting by cost centers. For several years now, it has worked so that I can open a Power BI dashboard at any time and see exactly how much, for example, R&D is spending. The entire operation has become more professional and reached a level we wouldn’t have achieved on our own.”

Martin Herman CEO Powerful Medical

Tax support for US expansion

Our tax team designed a suitable tax structure for entering the US market, minimizing the risks associated with international compliance.

Cybersecurity and strategic growth preparation

We connected the client with BDO Czech Republic, which certified them for cybersecurity compliance in both the EU and US. We also introduced them to BDO Austria, which specializes in healthcare and life sciences. They further connected the client with a potential future buyer—a company developing medical devices. Although the deal did not result in an acquisition, the client appreciated our strong network of contacts.

Results of our collaboration

• Accounting system prepared for rapid growth and international scaling

• Real-time reporting and forecasting tools for investor relations

• Tax optimization for market expansion

• Strong cybersecurity positioning in key markets

• Strategic partnerships through BDO’s global network
   

According to Martin Herman:

“Since BDO has been handling our accounting, I can’t recall a single due diligence focused on our financial statements. It was enough for investors to see that the financial statements were prepared by BDO — and that part was immediately settled.”

 

The collaboration with Powerful Medical proves that even a tech-driven medical startup can gain a strong, reliable partner for growth. Thanks to our innovative solutions, personal approach, and the international BDO network, we’ve supported them on their journey from idea to a globally active company redefining the future of cardiovascular diagnostics.
 

WHY CHOOSE BDO OUTSOURCING?

• Expertise in a variety of accounting systems and multilingual communication

• Monitoring of legal changes and IT trends on your behalf

• Adaptability to your processes, platforms, and systems, including accounting automation.

• Synergy across our tax, audit, legal, and business advisory divisions for complex, multidisciplinary solutions

• Immediate availability - outsourced accounting is an ideal solution for managing staff turnover.

• We have a global reach and connection to more than 160 countries worldwide. Thanks to our tax advisory experts, we helped our client successfully expand into foreign markets.