C2FO is a Kansas City based financial technology business that provides companies with a marketplace to deploy and secure working capital. C2FO enables collaboration between buyers and suppliers in real-time to discover the price for early payment that's profitable for both.
C2FO offers financing solutions to small and medium sized suppliers in its network. In order to make the process as seamless as possible, C2FO needs to retrieve data on these businesses by having direct access to their accounting software. Small businesses use many different accounting software products, some cloud based and others on-premise. There is no standard method or format to retrieve small business accounting data meaning, integrating with many different accounting products and providers is complex and time consuming.
Codat has enabled C2FO to access data from many accounting systems via a single API integration. Suppliers in C2FO’s network can apply for non-buyer-initiated finance by connecting their accounting software. This authentication process is handled by Codat irrespective of the underlying accounting platform. Once a data connection has been established, Codat returns the data in a standardised format to save C2FO’s credit team time. Codat's API also enables ongoing synchronisation of data so that suppliers can access dynamic funding limits based on their most up-to-date financial performance data.