Automating Financial Workflows: How Applifting Boosted Efficiency and Control

Applifting

Implementing a cutting-edge financial data management solution to streamline operations and automate processes, maximizing efficiency and control.

Company Background: 

Applifting is a global AI-driven software company specializing in custom software and applications for both large enterprises and start-ups. With a turnover exceeding 6 million EUR, they have established a strong presence in the market. As their business grew, they needed a partner to automate financial processes, boost operational efficiency, and enhance decision-making with a comprehensive data overview.

Main Achievements in Metrics: 

• More than 46 hours spared each month through improved daily processes.
• 30k+ EUR yearly saved by eliminating manual processes.
• 100% of time saved on manual tasks with automated reporting
• 1 Centralized Data Warehouse for streamlined data access and management.
• Automated cash flow updates reduced reporting time from 5 hours to 1 hour per week, achieving an 80% time savings.
• 85% Reduction in invoice processing time, dropping from 35 to 5 minutes.
• Real-time bank account monitoring eliminated 5-10 minutes of daily checks, providing 100% time savings.

Our Mission: 

Revolutionize financial efficiency with smart automation.

The Challenge:

The key challenges included fragmented data across systems, inconsistent APIs, manual processes, and a lack of centralized data management. To improve decision-making and boost efficiency, there was a need for seamless data integration, accurate cost allocation, automated reporting, and advanced financial planning. Solving these issues required smarter data management, robust system integration, and innovative tools to streamline operations.

Integrations We Made:

• Internal management system
• Accounting and financial system
• Spreadsheets

Deployed Components:

• Company-wide overview
• Cash flow forecasting and runway
• Comprehensive invoice analysis
• Financial reporting, planning, and monitoring
• OPEX and ROI analysis
• Profitability and competitor analysis
• Budgeting and KPI tracking
• Non-billable hours analysis
• General project analysis
• Customer behavior tracking
• HR metrics overview

Outcome/Solution:

The improvements delivered enhanced financial management with new dashboards, detailed invoice and expenditure insights, daily financial overviews, and planning. These provided data-driven clarity on cash flow and receivables, enabling better decision-making and strategic planning. Daily process automation achieves 80-100% time savings, boosting efficiency in:

• Cash flow management
• Reporting
• Invoice handling
• Bank account monitoring
• Data cleaning