26 August 2024

Residents of Hi-Tech Park are working on creating digital solutions that are actively used in various sectors of the economy and facilitate the daily routine of small and medium-sized businesses. One of such solutions is the Finrocket. It combines advanced data processing technologies with the practical needs of modern enterprises to manage financial flows and optimize business processes.

“As of January 1, 2024, there were 252 thousand individual entrepreneurs and 116 thousand organizations of small and medium-sized businesses in Belarus. Last year their contribution to the total GDP already amounted to more than 25%. However, a huge number of growing projects are broken by simple financial management mistakes, which Finrocket service will help to avoid,” the founder of the company Alexander Bezuglyi said.

The software product developed by Finrocket is a system for the automation of management accounting and financial planning with instant data visualization feature. The key technologies used in the service include machine learning, artificial intelligence, processing and storage of big data.

The IT platform operates simply: data is downloaded from 1C systems and banks, and algorithms generate reports on their basis. Unlike tax reporting, management reporting does not have strict forms, so financial managers together with clients can decide what data and how the service will process, what reports and indicators to display on the dashboard, and what approach to management accounting to use in general. This “smart assistant” helps companies automate reporting and visualize data within seconds, without wasting time on manual analysis and searching for errors in Excel files.

Basic tools that are digitalized include data collection from 1C of different configurations, marketplaces and banks; basic management reports; payment reconciliation; payment calendar; plan-fact and flexible sales reports; dashboard builder for different positions; complex KPIs and metrics; project accounting.

Business processes are similar in most industries, so the solution is suitable for entrepreneurs from various spheres: from trading on marketplaces to IT and energy sector. At the same time, all the tools of the platform are built on an intuitive user interface, so specialists need no more than a couple of hours to get started.

“All the figures, communication with clients and internal feelings prove that the Belarusian market is ready for fintech solutions. Despite the lack of analogues of the product, small and medium businesses have shown sufficient maturity and demand for digitization. Therefore, we are especially grateful that the solution launch is supported by Hi-Tech Park and are proud of the resident status – I am sure that with such support the project targets will not take long to be achieved,” Alexander Bezugliy emphasized.