Customer:
Capital Now Funding, LLC
Industry:
Pre-Settlement Funding
Website:
http://capitalnowfunding.com/
Product Used:
Autymate | Transactions
“Autymate allowed us to automate an accounting process that was time consuming and prone to errors. This allows us more time to focus on the business and not on manual repetitive tasks.”
Capital Now Funding partnered with Autymate to migrate customer records, approved loan amounts and case settlement status from a proprietary Mongo DB to QuickBooks Online.
About
Capital Now Funding (CNF) was founded in 2015 in Louisville, Kentucky to provide non-recourse pre-settlement legal funding to personal injury victims that need an advance on their settlement to pay their bills before the case is settled. Unlike most pre-settlement legal funding companies that offer interest rates that escalate at various intervals throughout the process, CNF charges a fixed fee for settlement advances with zero interest. Capital Now Funding is a nationwide provider of pre-settlement lawsuit loans for personal injury accident cases. Capital Now Funding has provided thousands of clients with pre-settlement legal funds.
Background
To find out more about Capital Now Funding click this LINK and go to their website.
The Challenge
Capital Now Funding (CNF) partnered with Autymate to integrate their proprietary Mongo database with their QuickBooks Online account.
Specifically, CNF wanted to extract and import the following data:
1) Customer Data
2) Customer Loan Details
3) Settlement Date
4) Check Detail - Payee, Date, Amount, Check #
5) Receipts - Settlement Fund Deposits including deposit date, amount, payor name
6) Accounts Receivable - Application of receipts/deposits against the outstanding AR for each loan.
CNF also wanted to real time access to three (3) specific reports including:
1) Payback Report - which details outstanding loan balances.
2) Loan Issued Report - which detailed each loan issued.
3) AR Aging - # days each loan has remained unpaid.
Our Solution
Autymate leveraged the Autymate|Transactions (AMT) solution to create a custom daily data sync that mapped and transported specific data between a Mongo DB and QuickBooks Online.
The integration contained custom mapping of data and tracked daily job completion status via a custom user Interface.
AMT also generated an exceptions and errors for each job facilitating customer self service to make all required corrections.
The Autymate platform automated the accounting process, as well as the recording and application of checks, deposits and other receipts against previously created accounts receivable.
Bottomline
By partnering with Autymate to integrate their proprietary Mongo database with QuickBooks Online, Capital Now Funding was able to automate loan processing and accounting, establish real-time reporting capabilities, and focus on providing best-in-class customer service and business development. With a custom daily data sync solution, the Autymate platform automated the recording and application of checks, deposits, and other receipts against previously created accounts receivable, while also providing real-time access to critical reports such as the Payback Report and AR Aging.
Thanks to this innovative solution, Capital Now Funding can provide non-recourse pre-settlement legal funding to personal injury victims more efficiently than ever before. If you're looking to streamline your financial operations and improve your business processes, consider partnering with Autymate for your next project.
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