Challenge

Flooz has a specific business case where they receive revenue from traded tokens on their platform. A critical aspect of the challenge is the ability to quickly price tokens in their back office while reconciling their books, a task that requires fast reactions as some tokens are traded on Flooz's platform less than an hour after their public launch. In cases where specific tokens could not be priced, they had to either manually price them or find a third-party API with the necessary data and integrate it with their existing system.

A compounding effect of newly recognized tokens was the ability to quickly solve any issues surrounding them, something that would often take 2-3 days due to submitting email tickets. This brought challenges in having to re-do manual pricing, and long turnaround times to have issues addressed by support teams. This also impacted the way that transactions from those new tokens were reconciled against their books, reducing accuracy in their data.

Solution

Upon switching from their previous subledger system to using Integral, Flooz received direct communication from Integral’s support channel, resulting in a collaborative and much tighter support loop. Flooz was able to decrease the time it took to price newly launched tokens for their revenue, while Fabian Schönhaus, Finance Manager at Flooz, was no longer left to try and solve pricing issues by himself.

“Integral's approach to customer support and their willingness to adapt to our unique needs have been invaluable. We just get a lot more support from you guys.”

– Fabian Schönhaus, Finance Manager at Flooz

With the added inclusion of being involved in product development, Flooz has a deeper connection to the platform and can feel confident in knowing they’re working with a partner that wants to support them as their business grows and evolves into more complex use cases.

Results

After updating to include Integral in their finops stack, Flooz reaped several benefits for their financial back office. Most notably, after setting up the initial rules for categorizing transactions, Fabi reduced the time normally required for bookkeeping by 95%, significantly enhancing Flooz's efficiency. This was a workflow that was a cumbersome task with their previous system, but was made much more efficient due to Integral’s intuitive user interface.

Additionally, with a direct line of communication to Integral’s support team, Fabian was able to solve time-sensitive issues more quickly. The quick turnaround of questions and answers significantly sped up solutions, making it possible to address time-sensitive issues more efficiently:

"With Integral, the support is not only faster but also more specific and effective in addressing our needs. It’s more of a partnership rather than just a vendor-customer relationship."

– Fabian Schönhaus, Finance Manager at Flooz

Why Flooz Continues to Partner with Integral

Dedicated Customer Support: Flooz has a direct line of communication with our Support team, reducing the time it takes to address issues.

Product Development: By being included in the vision, development, and building of product features, Flooz has a deeper connection to the platform.

Streamlined Bookkeeping: Integral's tools, specifically our Rules engine, save 95% of the work normally required to categorize and reconcile bookkeeping.