Case Studies, Fin Ops

18 Mar 2024

Automating E-commerce accounting with Ntropy x Finaloop

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Author

Michael Jenkins

Product Marketing Lead

Client


📣 Customer Showcase

Finaloop is an accounting and software solution for ecommerce companies.

🔎  Finaloop connects to all the business apps an ecommerce company uses and reconciles and categorises the accounting and financial data using our Merchant Enrichment and Categorization products to automate bookkeeping.

Our core enrichment capability enables Finaloop to identify transactions such as COGS, merchant fees, financing costs, refunds and chargebacks.

⭐  Once data has been cleaned and categorized, Finaloop can  map our categories to accounting conventions to build fully reconciled financial statements in real-time.

🤖  By providing companies with accurate, real-time data and a comprehensive financial overview of their businesses, ecommerce business owners are able to make better decisions to grow their business.

⁠Ecommerce is a fast moving segment and traditional accounting and bookkeeping solutions are not designed for this new industry.

But using Ntropy to enrich financial data, Finaloop is able to build a new solution specific for ecommerce owners and we are excited to partner with them.

"Our experience with Ntropy has been great. We were able to quickly integrate in a matter of days which greatly helped accelerate our speed to market.

⁠The enriched data Ntropy provides means our customers save hours each month not having to manually categorize their bank transactions so they can close their books quicker and focus on their business."

Alon Cohen, Product Lead at Finaloop

Building a bookkeeping or accounting solution?

Enable your customers to quickly close their books and automate bank account reconciliations with clean, enriched and categorized bank transactions

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Ntropy is the most accurate financial data standardization and enrichment API. Any data source, any geography.