Fundflo – Success Story

Client:

Fundflo Technologies is a Pune based startup helping clients improve the cash flow across the supply chain of large organizations.

Problem:

The finance teams at Companies with a large network of distributors face the challenge of timely collection of account receivables from distributors. To address this, companies offer incentives to distributors for timely payment and charge penal interest for delayed payments, in addition to dunning reminders.

Solution:

Harrier developed the Web based 3 tier applications and a hybrid mobile app to automate the entire process of collection of account receivables from distributors of large companies.

We also developed a mobile app for distributors for accessing their invoices, credit notes and debit notes on the app in real time and to initiate payments. The system has following features.

Key Features:

Auto-calculation of discounts and penal interest based on the due date.

Integration with multiple banks to get the payments data from the bank statement directly into the system for recon.

Integration with SAP finance module to directly get the invoices into the system.

Integration with SMS gateway for reminders and alerts.

Integration with MS Outlook to extract data from bank statements as email attachment.

Major Challenges and Solutions

Integration with SAP was challenging due to use of SAP libraries and security restrictions on directly accessing SAP server from FundFlo system. We overcame this challenge by rigorous testing and having a bastion host between FundFlo system and the SAP server.

Extracting data from bank statements in email – we integrated with MS Outlook to read emails received from banks from a specific ID only, with account statement as attachment. We also programmatically decrypted the account statements to extract the data and save it in the DB. We integrated with 3 different banks to get data about payments received from distributors.

Technology Environment:

PostgreSQL, Node.js, Angular, Ionic framework, REST APIs, SAP library for integration