Efficiently Handling and Tailoring Extensive Financial Data Imports
Tesorio, a distinguished graduate of the Y Combinator accelerator program, operates as a pioneering cash management platform. This platform specializes in optimizing B2B collections and enhancing the precision of cash flow forecasting for businesses. Their overarching mission revolves around enabling even small and mid-sized companies to operate with the financial finesse of Fortune 500 giants.
As Tesorio expanded its operations and market presence, they recognized the importance of bolstering their workforce with specialized talents. This included recruiting top-notch machine learning experts and other strategic professionals. However, Tesorio remained acutely aware that, in the fast-paced world of fintech, speed and agility are essential for sustainability and competitiveness. Consequently, they made a deliberate effort to balance their quest for innovation with the need for rapid and efficient delivery of their services.
Tesorio possessed a well-defined vision: they recognized the inherent value of their platform but were keenly aware that expanding their market share required a strategic approach. This necessitated establishing crucial connections with the tools their clients were already using. To enhance their market presence, Tesorio embarked on a multifaceted strategy, addressing three key fronts:
- Enhancing Recommendation Models: The first challenge was to refine and optimize their recommendation models. This involved leveraging cutting-edge techniques to provide clients with even more accurate and valuable insights.
- Efficient Financial Data Import: Another pivotal aspect was the efficient importation of substantial volumes of data from diverse Enterprise Resource Planning (ERP) systems. This data influx was essential to continually enrich and fine-tune their models, ensuring their predictive capabilities remained at the forefront of industry standards.
- Empowering User Control: Tesorio also recognized the importance of enhancing their frontend interface to grant users full control over the specific data segments they required. This user-centric approach aimed to streamline the user experience and facilitate more intuitive interactions.
While Tesorio had a skilled team capable of addressing these challenges, the scope of the task meant that completing all three fronts would span over a year. Additionally, there was uncertainty about whether hiring new developers would expedite the process, as these hires would ideally need to be well-versed in industry best practices and capable of swift implementation.
In a serendipitous turn of events, Tesorio came across a talk by Flávio Juvenal, one of the founders of Vinta. This talk centered on the use of linters, which piqued Tesorio's interest. They recognized an opportunity to collaborate with a company like Vinta, which could accelerate their development process while keeping a vigilant eye on minimizing rework and preventing the accumulation of technical debt. This strategic partnership allowed Tesorio to optimize their workflow, ultimately enabling them to achieve their market expansion goals with greater speed and precision.
While their team was focusing on improving their recommendation models, we managed to surpass expectations and deliver their other 2 goals: Importing data from other ERPs and improving their frontend. With each proving different challenges that we had to overcome.
Companies use an incredibly large number of ERPs, so we needed to work alongside Tesorio to understand where to focus our efforts. We narrowed it down to a couple of batches, with the first batch having two that would give them the best returns in market share.
From there, we were able to deliver them the data they needed, navigating incomplete documentation and complex business rules of each ERP. With this data, they were able to better train their models and bring invaluable insights to their clients. This allowed them to fast-forward months in their roadmap and increase their revenue right away, as new customers needed those integrations ready before adopting Tesorio.
It was not enough for Tesorio to have that data, their users needed to have full control of what was imported and how. After finishing their imports, we had to move our attention to this registration flow. Every mistake the user made here meant incorrect data in their base, needing several hours of support to fix. It also was one of their top causes of customer dissatisfaction.
Here is where our team shines, we required no hand-holding and were able to understand and start working on this even though it was a code we hadn’t seen before. It still took some weeks to make it just right, we had to dive deep into countless companies' business rules and sync with Tesorio’s teams to see common problems they faced. After that, their team experienced a huge decrease in support issues and customer satisfaction soared.
Tesorio’s co-founder and head of engineering expressed his delight with our work and how we were able to hit the ground running, requiring almost no work from his team, while proactively bringing questions and opportunities to them.