Pragmatyc - Digital Product Engineering | Enterprise Solutions | Modern tech empowering a Fintech product to multi-fold Pre-accounting efficiency

Modern tech empowering a Fintech product to multi-fold Pre-accounting efficiency

Industry: FinTech / Pune, India

Summary

Maintaining accurate bookkeeping and accounting records is essential for any organization, yet the process remains heavily reliant on manual efforts with challenges like missing information and communication breakdowns, resulting in wasted time and resources. Having recognized this pain point, our client, with years of experience in this domain, approached Pragmatyc with the idea of developing a technology-driven solution to address these challenges. Working closely with the client, Pragmatyc designed a cutting-edge platform that harnesses the power of cloud computing, artificial intelligence and machine learning, and OCR technology. This platform enables seamless collaboration between businesses and accountants, streamlining the pre-accounting process and significantly improving overall efficiency.

The Product

Challenges

Despite technological advances in many areas of business, manual, time-consuming, and complicated pre-accounting processes continue to present significant challenges.
Research shows that the amount of time spent collating accounting data is 3x more than the time required for actual accounting due to manual process, broken communication with accountant and missing information.

Solution/Product Idea

To address these challenges, this fintech product offers an integrated cloud and mobile-based bookkeeping platform that empowers users with four key steps:

Configuring credentials and profiles,
Capturing relevant financial data using AI from uploaded expenses and invoices,
Concluding that the specified data is linked to relevant financial transactions and subsequent ledger entries,
Control – by analyzing the trends finances & transactions.

Benefits for user

Easy access to mobile capture and integration with existing accounting software.
Automation of linking financial documents with bank and credit card transactions using AI/ML.
Integration of multiple pre-accounting activities on a single platform.
Seamless communication between stakeholders such as owners, staff, and accountants.
Time savings through a range of efficiency-boosting modules.
Hassle-free management of multiple legal entities and clients with a single login.

start-TO-END

Value Add by Pragmatyc

Our client recognized the significant pain area in pre-accounting and set the tone for developing a solution to simplify, digitize, and automate back-office accounting processes.

Pragmatyc aligned its efforts with the client’s vision, and a dedicated and agile team of enthusiastic React and Python developers worked closely with the client to evolve the minimum viable product (MVP).

The result is a comprehensive and user-friendly solution that benefits accountants, business owners, and CAs alike.

The product idea required to scan multiple finance instruments such as invoices, statements etc. and fetch the relevant data. Pragmatyc addressed it with implementation of right OCR technology along with Google Cloud services.

To ensure that the solution was accessible to all users, React framework was chosen for the development of web and mobile-friendly apps.

The frequent upgrades to the product were facilitated seamlessly using DevOps like CI-CD.

With our commitment to accuracy, efficiency, and user-friendliness, we’re proud to have developed a state-of-the-art product that simplifies and automates back-office accounting processes for its clients.

Services Provided

Technologies and Tools

Frontend ReactJS

Mobile React Native

Backend Python

Database MySQL

Other technologies /frameworks AI-ML, Visual Recognition, OCR

Cloud Services GCP

Integrations Tally

Case Studies

Client Success Stories

We have delivered digital products in healthcare, education, consumer electronics, construction etc. employing loT,
Al and many other technologies relevant to the solution.

Services

to create and deliver value

Whether your products is in abstract form (idea), in-making or already developed and launched,
we serve to elevate products position and accelerate its growth.