Growth Street offers small and medium-sized businesses access to an asset-backed line of credit called GrowthLine. After a GrowthLine is setup, businesses must supply management information to Growth Street on a regular basis. In order to be able to automate the collection of management account and invoice data, Growth Street had built a couple of direct integrations with accounting software packages. However, they were looking for a way to remove the heavy lifting of building, maintaining and managing these integrations, in order to free up their development resources to focus on central business requirements.
Through Codat, Growth Street has been able to access many more accounting packages, while just building the one integration to Codat. Codat standardises the data that flows from the accounting software to allow one single point of entry into Growth Street’s credit model, radically reducing the development time spent on integrations.
How Codat works for Growth Street
- Growth Street’s clients allow Growth Street to access their accounting data
- Codat then pulls the data from the accounting software
- Codat standardises the data to a Codat standard, irrespective of the underlying accounting software
- Growth Street pull the data from Codat directly into their credit model