Software providers are always promising their solutions will help “streamline” this, or “maximize” that. And, in most cases, they are probably telling the truth. However, if these solutions aren’t built to integrate easily into your existing processes, they can create more problems than they solve. 

As commercial lending becomes an increasingly digital process, more and more lenders are looking for solutions to automate their lending cycles. These solutions should integrate as seamlessly as possible into operations. Here is what easy software integration looks like in the context of financial spreading for commercial lending and why it matters.

Intelligent API

With the manual data entry approach to spreading, you are always dealing with the tax form submitted to you by the borrower and inputting the data you needed data point by data point. Software has rushed in to streamline this process. But will the solution you implement keep up with all the changes from year to year? Say you implemented a new solution in 2021. Come 2022, is your software able to adjust to the new formatting in every single one of the 2022 tax forms? 

A software solution should integrate easily with a business’ existing workflows and practices. Flashspread has created an intelligent API, which takes care of this mapping year over year, so you can just set it and forget it, and let us do that work. All forms are updated by the FlashSpread team as the IRS releases them, ensuring that you are always able to work with the most recent forms. 

The easy  integration that you get with FlashSpread doesn’t stop there. The solution’s intelligent APO also allows you to pull a single field from a form, such as wages from a 1040, regardless of the formatting changes that may happen to the 1040 year over year. In other words, you never need to adjust your steps. FlashSpread does the work for you and always delivers the clean and current data you need. 

FlashSpread offers integration support along the way, as well, and maintains API documentation for when you want to check in on details.

Plays Well With Others

Maybe the most important point that needs to be made in terms of integration is how well a solution such as FlashSpread “plays with others.” Today’s businesses employ a deep bench of solutions. Any solution that doesn’t integrate with third-party software can end up isolating data and creating siloed workflows. Instead of adding value to your suite of solutions, they slow you down. 

FlashSpread is designed specifically to integrate easily with the most popular fintech solutions out there. In fact, FlashSpread enhances the power and viability of these other solutions in your workflows. How? Consider this: You’ll often hear a wide range of fintech solutions saying that they are “automated.” Any automation that happens, however, only happens after that solution has access to the digitized data it needs. By seamlessly digitizing that data and integrating easily with these third-party solutions, FlashSpread enhances their performance and efficacy. 

FLashSpread never takes power or efficiency away from your existing solutions. By integrating FlashSpread into your suite of solutions, you are only improving your existing tools. 

Truly Seamless Integration

The ease of use and seamless integration that comes with FlashSpread will get even better as the FlashSpread team adds new features. Future releases include the ability to work with company-prepared financial forms, including P&Ls, balance sheets, and cash flow statements. With this automated spreading software, you get a fast and efficient initial implementation, faster workflows, and enhancements to your other software solutions, improving overall operations and giving new and real meaning to “streamline” and “maximize.

To learn more about this transformative solution, schedule a demo today.