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Enabling dynamic financial reporting | True Diamonds

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The digitalization era has sparked many innovative transformations in several industries, including financial management. More versatile digital solutions are now replacing traditional working methods. This movement has also given birth to a new term, called electronic financial management. The term refers to a more efficient and seamless financial management process by utilizing online tools. For entrepreneurs, SMEs, and those who are responsible for financial management in their companies in Finland, Procountor is a familiar name.

Procountor is a web-based financial management software, similar to an online banking service, making not only payments possible, but it enables additional features as well, including sales invoicing and accounting. The software also allows the company to manage its finance status irrespective of space and time.

Our partner, True Diamonds, has been using Procountor to keep track of their accounting books and monitor their financial process. However, the financial management software does not provide the customized features that our partner was looking for.

The Challenge

The reports retrieved from Procountor did not have the required customized features that True Diamonds was having in mind. Consequently, the company would like to produce their own accounting reports using Procountor’s existing accounting data.

Here comes the problem. The existing solutions that aim to synchronize Procountor’s accounting data to one’s own database are not suitable for customization, which goes against True Diamonds’ preferences.

Furthermore, the company also wanted a solution that is portable and independent of any cloud platform provider, meaning AWS, GCP, and Azure. However, their company does not have an in-house developer team nor do they plan to build one anytime soon in the future. Hence, Reactron Technologies came to the scene and became a fundamental piece in their internal team to help solve these problems.

Project Highlights

• Created a solution that is functional on any cloud provider (AWS, GCP, Azure) and any database (PostgreSQL, MySQL, MSSQL)
• Fast iteration and feedback with high accuracy
• Reduced development cost
• Portable and reusable for other projects

How we did it?

Using an agile working method, Reactron Technologies divided the project into smaller parts and worked closely with True Diamonds’ internal team to quickly tackle the problem. Understanding the client’s need for a customizable and universal financial management software, Reactron Technologies built a dockerized RESTful service that synchronizes data daily from Procountor to an SQL database. This service can run on any cloud provider (e.g AWS, GCP, Azure) as well as any database platform (e.g PostgreSQL, MySQL, MSSQL, etc.).

“The team was flexible, patient, and meticulous. From our requirements, they advised a more efficient solution, and they even delivered an additional bonus feature which made our solution more robust and reliable.”

Timo Lappalainen

Co-Founder of True Diamonds Oy

Result

The dockerized RESTful service functions with a high level of accuracy and performs the required tasks accordingly. Moreover, Reactron Technologies took an extra step and advised True Diamonds on choosing the pull-and-compare based data syncing option over the full copy-based one as we believe the former option yields better results.

In fact, the whole project went smooth and fast thanks to the agile working method that Reactron Technologies and True Diamonds managed to successfully collaborate. We produced constant feedback in every phase of the project, which enabled fast iteration and a result that made both sides very happy.

Financial reporting

About
True Diamonds

True Diamonds Think & Do Tank was born out of the movement aiming at enhancing the focus on the well-being of today’s working and management culture. They want to create a world where there are trust and room to breathe, not just to get out of breath.

True Diamonds hopes to create a working culture that is based on trust, openness, respect, finding purpose, sharing, and experimenting, through training programs, workshops, and personal coaching sessions.

Explore more on their website: https://www.truediamonds.fi/