Codat expands its coverage to support Square!
In addition to accounting and banking data, clients will now be able to view their customers’ e-commerce and point of sale data using Codat.
At Codat, we are committed to becoming the platform for business data by achieving total connectivity between the products and services small businesses use. This month, we took a significant step by releasing our integration with Square, our first commerce integration used by small businesses.
The integration maps real-time and immutable merchant data from the Square platform to Codat’s standardised commerce data model and makes it available via our simple, developer-friendly API.
Square has over 2.5 million customers worldwide, and an estimated 9% market share globally.
For an up-to-date list of the software Codat supports see our docs.
What data are we pulling?
Codat’s Square integration includes the following categories of data:
- Customers: detailed customer information such as name and contact details.
- Disputes: information relating to disputes and chargebacks, including reasons and statuses.
- Orders: sales information, including payment, tax rate and country data.
- Products: details of products that a merchant has available, including inventory level information (where available).
- Transactions: details of all financial transactions recorded in Square, including payouts and fees.
Clients are able to access the above data either via our API or by using the Codat Portal.
Who will stand to benefit?
From lending and insurance to analytics, Codat’s Square integration can power a variety of use cases.
This integration can be used in isolation or alongside our accounting integrations to improve credit decisioning and underwriting processes, enabling lenders and insurance providers alike to benefit from a holistic understanding of their customers’ past, present and future financial position. It can also be utilised by clients to offer their SME customers value-added services such as cash flow forecasting and sales analytics features.
Utilising the data derived from up-to-date sales, as well as customer and product information, clients are able to extract key metrics such as:
- Gross Sales Revenue
- Monthly Recurring Revenue (MRR)
- Churn Rates
- Average Transaction Volumes
- Average Transaction Values
- Returns Rates
- Payout Rates
- Chargeback Rates
We have ambitious plans to continue to expand our coverage to include a number of other commerce data sources in the near future, Visit our Product Board for more information about our future plans or to request additional data types for existing integrations.