Why Scratx is the only finance automation platform that your business really needs


Why Scratx is the only finance automation platform that your business really needs

It’s a little bold, likely biased, and probably controversial. Without context, it’s maybe even ambiguous. However, as you’ll read through our arguments in this whitepaper, it should make perfect sense to you as well. Scratx is the only finance automation platform that your high-volume transaction business really needs.

High-volume transaction businesses have unique needs in their finance operations

person holding bank card

For businesses that generate revenue through large volumes of international transactions such as D2C, Ecommerce, Retail and Digital businesses, finding the right automation platform can be like finding a needle in a haystack. They either get stuck with rigid automation platforms that dictate workflow, end up drowning in expensive solution consultant costs, or are left with manual tasks anyway. That’s where Scratx can help your business take a different approach.

There’s no shortage of platforms out there claiming to make finance operations a breeze. From managing spending, to handling invoices and payroll. And yes, many of these serve their customers really well for specific tasks that most businesses have in common. For the sake of clarity, high-volume transaction businesses may benefit greatly from these services, but what they really need is something else.

Businesses that handle large volumes of international transactions, payments from multiple providers across different countries and currencies, using multiple sales-aiding platforms, have to deal with a whole different set of challenges when it comes to automating finance operations. 

The reality for these businesses is that the requirements to process their revenue streams almost always vary. And believe us, after many years working in payments with hundreds of businesses, we’ve seen equally many varieties. That’s why so many automation platforms fall short when it comes to meeting the unique needs of businesses dealing with large transaction volumes.

One-Platform-Fits-All is old news,
businesses want to choose their best fit

We do not believe in one platform to rule them all. Simply because we understand that reality is as such that companies want to use a variety of system providers to best fit their business.

Unlike many other platforms that promise to solve all your problems end-to-end that may require you to change your tech stack, we want you to use your existing tech stack to solve your problems as much as possible. We don’t even necessarily aim to replace any system provider that you are currently using.

Our commitment is instead to try to help you solve finance automation problems that none of your existing platforms have been able to solve, to the specific requirements of your business. This to a reasonable premium that you sincerely believe is worth its value because of the freedom it creates for you, your team and your business.

Automate what your business needs, not what the automation platform requires

As we speak to customers and prospects, they refer to other vendors and solutions that offer finance automation with a bit of skepticism. Time and time again we hear the same thing, that the platforms they have found, and sometimes used, force them into automation processes that don’t solve their problems enough to get them what they need. 

Automation platforms often charge the customer a startup configuration fee and potential maintenance fees every time a configuration in the automation flow needs to be updated. Not to mention third-party automation consultant fees. As such, businesses risk sunk costs when it becomes clear that their choice of platform in the end cannot solve their problems they set out to fix from the start. This is a common example of where automation initiatives cause more pain than good.

Scratx on the other hand encourages you to only use our tools to solve those problems that are otherwise hard to solve. We charge no setup or configuration fees, and since the platform is equipped with a DIY (Do It Yourself) interface you don’t need to be able to code to get things up and running.

Data agnostic and DIY by design to empower freedom for finance operations

At Scratx, we aim to keep things simple. We’re not fans of connectors, integrations, or apps. Instead, we’re all about giving you the power to import data from any source system provider, however you need it delivered (to the extent that is offered by the source).

Now, let’s clear up a little misconception – that finance teams want someone else to swoop in and solve all their problems. But here’s our take: every finance team is different, with its own quirks and preferences. They are professional “control freaks” and as such they want to own their processes and how they are executed. That’s why we believe in empowering finance teams to solve their own problems.

Since every preference and process is near unique – flexibility is key. Normally however, this flexibility comes at a cost, by endless consultancy hours from specialized automation software consultants, building hardcoded custom applications that guarantee extensive maintenance costs whenever something needs to be updated. 

We’re designing Scratx to be as flexible as possible. With our DIY, no-code interface, you can tackle your finance automation challenges head-on, using our suite of tools to remove the dependency on consultancies, with an automation implementation cost of 0.

Not an ecosystem, one-stop-shop nor a co-pilotScratx is an agnostic assistant for finance operations

To sum it up – Scratx is not the one platform that solves all problems. Instead we’re here to try to help you tackle your unique finance automation challenges. 

Whether you’re dealing with making sense of different transaction data sources or just looking to streamline your finance operations, Scratx can help you scratch your back just the way YOU like it. We’re all about giving you the tools to automate the tasks you want, on your own terms. Think of Scratx as your trusted assistant, here to make your life a little easier. It’s highly flexible, intuitive and completely self-service, and if you ever need a helping hand, our product and support specialists are just a chat window away.

So why choose Scratx? Check out the table below – showcasing why we’re the only finance automation platform your business really needs.

Incumbents Scratx
Monolithic approach Micro-service friendly
Centralised, black box, proprietary Distributed, transparent, open
Ecosystem, co-pilot, integration layer Assistant, solves problems on request
Custom built Customizable
Hardcoded integrations / connections Source data agnostic
End-to-end required Flexible, unbundled, modular, decoupled
Manual configuration and setup that comes with a cost / setup fees DIY, self-service, no setup fees, product specialists will help if needed

Curious to learn how Scratx can help you create more freedom in your finance operations?

We love to talk to finance professionals and share ideas about the power of finance automation and transaction data analytics. So whether you’re a CFO, a Head of Finance, or just someone who’s passionate about streamlining finance operations, we’d love to hear from you. Let’s create more freedom for finance operations together!

Join the wait list for early access to our Beta product or talk to us to learn more