At ToolPioneers, we specialize in building scalable, performant, and reliable applications with great design and UX in record time. Recently, we built a financial operations Retool application for Mysa, a leading fintech company, in just two weeks—a project that would have otherwise taken many months.
Mysa simplifies compliance management, accounting processes, and cash flow management for startups, making it an essential partner for businesses looking to focus on growth without getting bogged down by financial intricacies.
The Challenge
Mysa needed an application that could help its customers, particularly their accountants (CAs), manage accounts payables and receivables more efficiently. The goal was to create a user-friendly platform where startup employees or CAs could:
Upload invoices and record expenses
Account for cash payments
Manage and track payables and receivables
Our Solution
We developed a comprehensive application on Retool, designed to streamline these financial processes and provide an intuitive interface for Mysa’s users. Here’s how the application works:
Document Upload and Management:
Users can upload invoices that need to be paid or expenses that require reimbursement.
They can preview the uploaded documents, ensuring they are correct before submitting them.
Detailed Information Input:
Additional information such as the category of payables (software, food, travel, etc.) and the due date for each obligation can be provided.
Optical Character Recognition (OCR) technology pulls information from the documents and auto-populates the relevant fields in a payables tracking table.
Payables Tracking and Approval:
From the payables tracking table, founders or finance teams can view the status of each payable, including category, amount, mode of payment, and a preview of the uploaded documents.
They can then approve transactions as needed, ensuring a streamlined approval process.
If need be, the information in the table can be updated or deleted to maintain sanctity of financial data
CA Specific Features:
Accountants can perform similar tasks from their payables tracking table, such as recording expenses accurately and uploading transactions to accounting software like Zoho Books.
Transactions can include details like tax information, bill numbers, vendor names, number of items, and prices.
Suspicious transactions can be flagged for additional information, ensuring accuracy and compliance.
The Impact of Streamlining Financial Operations Using Retool
This application has significantly improved the efficiency and accuracy of managing accounts payables and receivables for Mysa’s customers. By automating data entry through OCR and providing a centralized platform for tracking and approval, Mysa’s clients can now focus more on their core business activities and less on administrative tasks.
Building this solution on Retool allowed us to quickly deploy a robust, customizable application that meets Mysa’s specific needs. The result is a smoother, more efficient financial process that benefits startups in their growth journey.
At ToolPioneers, we’re committed to delivering solutions that drive operational excellence.
By building a scalable, performant, and reliable application with great design and UX in just two weeks, we demonstrated our ability to deliver high-quality solutions rapidly. If you’re looking to enhance your company’s processes with custom applications and want to learn more about how we can help your business, feel free to reach out.
Let’s build something amazing together!