FinSuite

Introduction to FinSuite

FinSuite is a Melbourne-based FinTech company that specializes in process automation software. The company uses Artificial Intelligence (AI), Optical Character Recognition (OCR), and proprietary methods to help businesses in the banking and finance industry. FinSuite's software is used by small finance brokers, accounting firms, and some of the largest global banks. The company has been recognized by Microsoft and is a FinTech Innovation Lab Alumni from 2014.

Benefits

FinSuite offers several key benefits for businesses in the finance industry:

• Real-Time Reporting: FinSuite's accounting software provides comprehensive reports on business performance, including profit and loss statements and cash flow analysis. Users can customize reports to fit their unique needs, ensuring they receive the precise information required at a glance. This feature enables data-driven decision-making and helps drive business success.

• Complete GST Management: The software simplifies GST compliance by automatically calculating GST amounts, ensuring adherence to GST rules and regulations, and generating GST-compliant reports. It keeps users up-to-date with changing GST rates and requirements, minimizing the risk of errors and penalties. With user-friendly interfaces and comprehensive features, navigating GST complexities is made simpler, empowering businesses to focus on growth.

• Streamlined Financial Management: FinSuite's software offers seamless integration, real-time insights, and unparalleled customization tailored to unique needs. It harnesses the power of automation and AI to drive efficiency and accuracy in financial management. The software facilitates effortless collaboration with team members, regardless of their location, and ensures compliance with ease. With intuitive features and user-friendly interfaces, mastering finances becomes straightforward. Businesses can stay ahead of the curve, adapt to changes, and scale operations with confidence.

Use Cases

FinSuite's software is designed to help businesses in the finance industry streamline their financial management processes. The software can be used to capture and present the structure of a group of entities and their relationships, as well as to analyze business structures and financials on loan applications. The BizAnalyser application uses an OCR engine and a patent-pending parsing engine to read PDF documents containing financial statements, re-create the contents, categorize each line item, and produce reports on the company and its performance.

Additional Information

In 2014, FinSuite was selected as one of eight financial technology startups to participate in the inaugural FinTech Innovation Lab Asia-Pacific. The Lab, launched by Accenture, is a collaboration in Hong Kong between Accenture and leading financial institutions, supported by Cyberport and Airbnb. It aims to nurture early-stage companies developing new technologies for the financial services sector, with a focus on the Asia-Pacific region.

The selected startups received senior-level mentoring to help develop and commercialize their innovations and connect with potential customers at top institutions. FinSuite's participation in the Lab highlights its commitment to innovation and its potential to make a significant impact in the financial technology sector.