Top Use Cases of a Unified Accounting API

In today's fast-paced business world, efficient integrations between multiple systems are crucial for streamlining operations and improving overall productivity. One area where this is particularly true is accounting. From bookkeeping to invoicing, various accounting tools are designed to make the financial data management process easier and more efficient; this is where accounting integrations come in. Integrating your accounting system with other business tools allows you to streamline mundane financial processes, save time, and improve accuracy.

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However, different accounting platforms organise their accounting data using different fields and objects, which creates complexities when it comes to handling this data. A unified accounting API can revolutionise how businesses integrate with various accounting platforms, providing numerous benefits for businesses and developers, such as:

• standardised data models
• facilitating a seamless flow of information
• efficiency of building and maintaining integrations

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You can read more about the benefits of a unified API here.
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RootFi works with several top fintech lending startups, expense management companies and vertical SaaS companies. Below are some of the use cases and platforms that RootFi powers.

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Use Cases of Unified Accounting APIs
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• Bookkeeping platforms: These platforms record revenues, transfers, and expenses for an entity and automate bookkeeping by connecting directly to the preferred accounting platform of their customers.
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• Accounts Receivables/Payables platforms: By utilising RootFi's bi-directional data flow, these platforms create bills, present invoices, and reconcile payments — Streamlining the AR/AP process for business.
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• FP&A platforms: Financial planning and analysis platforms perform in-depth financial analysis on a customer's accounting data directly from their source of truth, providing tools and insights for decision-making, scenario planning, and cash flow forecasting.
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• Banks and business lenders: These institutions use accounting system data to power their underwriting processes, to better understand and forecast cash flow and operating costs for specific credit products.
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• Venture capital and venture debt funds: Can monitor portfolio companies' performance in real-time through accounting APIs, allowing these funds can make more informed investment decisions and provide better support to their portfolio companies.

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Why use RootFi's Unified Accounting API

RootFi's platform provides you with the tools to reliably read and write standard data models across all major accounting platforms. Our platform offers market-leading coverage to all major accounting providers worldwide.

RootFi's unified accounting API provides:
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• Best-in-class developer experience — Our documentation, API Logs, Webhooks and dashboard allows you to build and maintain integrations with multiple accounting systems seamlessly
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• Industry expertise — After working with multiple customers and spending hundreds of hours to-date researching accounting workflows, our team has developed best practices for multiple use cases and know the nuances of every single platform.
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• Global Coverage — Our goal is to offer coverage to every major accounting platform across the globe. We offer connections to 10+ platforms including Tally, Quickbooks Online, Sage Business Cloud, Sage Intacct, Xero, and Zoho Books through a single API.
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• Enterprise-grade security — RootFi is ISO27001 certified. We provide the security and stability necessary for handling large amounts of financial transactions.

This is just the a few of the use cases that RootFi enables for our customers. We continue to build out products focused on helping fintech, SaaS platforms, and financial services companies better serve their clients.
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If you’re interested in learning about any of the above use cases or have other use cases for RootFi— book a demo here or email us at contactus@rootfi.in.