Client
FinConsult
How FinConsult automated financial data collection and accounting workflows and cut the time for financial reporting
- Client
- FinConsult (Financial SaaS)
- Industry
- FinTech
- Solution
- SaaS
Challenge
The company suffered from chaotic financial data collection, lack of a unified accounting methodology, and growing pressure from clients and regulators.
- Financial data was collected from 10+ sources
- Excel and manual calculations across teams
- Errors in calculations for payroll, taxes, VAT, and inventory balances
- Reporting was a long and painful process
- Risk of missed deadlines and non-compliance with client and regulatory requirements
Business Goals
- Reduce the time required to process incoming client requests
- Automate preparation of initial financial and project assessments
- Standardize templates, documents, and the structure of financial workflows
- Reduce the involvement of accountants and specialists in early manual tasks
- Decrease the number of manual operations in financial and reporting processes
- Speed up time-to-reporting and close cycles
- Improve transparency for clients and internal teams
Solution
A centralized SaaS platform that automates the entire financial cycle — from capturing transactions to generating reports. The solution became a single source of truth, eliminating fragmented systems and Excel files while significantly reducing manual work and the risk of errors.
01 Data collection
- Integration via API with external systems and banks
- Import of data from multiple sources into a unified structure
02 Processing and calculations
- Standardized accounting methods and calculation rules
- Automated calculations for payroll, taxes, VAT, and inventory balances
03 Analytics
- Real-time financial metrics and KPIs
- Interactive dashboards for owners and internal teams
04 Reporting
- Automatic generation of statutory and management reports
- Easier compliance with client and regulatory requirements
AI Implementation
AI modules were embedded into the platform to analyze financial data, detect anomalies, and support FinConsult in making more informed decisions about financial management and reporting. Instead of reacting to issues after they escalate, the system helps the team spot risks early and improve the quality of underlying data and calculations.
- Detection of anomalies in transactions, payroll, and tax calculations
- Improved accuracy of financial figures and automated validations
- Data-driven insights and recommendations for faster, more confident decision-making
- Proactive alerts and suggestions guiding users toward corrections or optimizations in real time
How the Solution Works
AI automatically collects financial documents from email and from subscription services that provide documents via API. All incoming documents arrive in a chatbot, which serves as a single entry point.
The AI recognizes the document type, extracts key information (amounts, counterparties, dates), and automatically places the data into the required structure on Google Drive. For the user, the process is simple: they send the document, and the system automatically sorts it and prepares it for further accounting and reporting.
Results
- 60–70% reduction in time required to prepare financial reports
- 3–4× fewer errors in calculations and accounting
- All financial data centralized into a single system
- Simpler preparation and submission of reports to clients and regulators, with lower risk of missed deadlines
- Increased transparency of the company's financial picture for owners and internal teams
Tech Stack
- Fastify (Node.js, ES modules / .mjs)
- SWR for data fetching
- Sequelize ORM
- Webpack
