“Small businesses might use five-plus financial products for bookkeeping, accounting, and banking. And those products don’t talk to each other in a meaningful way. Plus, they’re expensive and add workload for small business owners. That’s the scenario we’re solving for at Bullet—to make managing the financial aspect of business simple, seamless, and cost-effective for small business owners.”
Bullet: A Case Study in Definition Before Integration
With a solid 11-year run as a superstar in Ireland’s robust fintech scene, Bullet is now expanding its competitive position by creating a suite of profitability-focused products for SMEs.
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The Challenge
Bullet helps small to medium-sized businesses succeed by providing an online, cloud-based tool to manage their finances—without the expense of a bookkeeper or the need to learn complex accounting or tax rules. Bullet’s software integrates accounting rules for all countries into its workflows, so SME business owners need only to enter their information to automatically create their P&Ls, balance sheets, general ledgers, payroll reports (and more).
With a solid 11-year run as a superstar in Ireland’s robust fintech scene, Bullet is now expanding its competitive position by creating a suite of profitability-focused products for SMEs. The goal, says CEO and Co-Founder Peter Connor, is providing tools that enable business owners to understand their company’s profitability without the burden of extra data entry.
Bullet CEO and Co-Founder Peter Connor
Bullet’s path to accomplishing this is, first, integrating software acquired from Polydone (a project and resource management tool) and Quoters (a business quoting tool) into the Bullet platform and, second, concurrently creating a banking product, using a third-party banking-as-a-service infrastructure provider, to connect bank accounts and add context to banking data.
The ultimate goal for Bullet is to create a neobank focused on the needs of SMEs in Ireland and the UK.
To complete the software acquisition quickly, Bullet bypassed due diligence on the Polydone and Quoters software. Connor explains that each program has a solid track record as being fit for purpose, and he understood the acquired software would be modified significantly during integration, making due diligence irrelevant.
The Solution
Bullet presented a complex integration to Softjourn, involving an ambitious business vision, incorporating multiple unvetted software acquisitions.
Softjourn proposed a three-month, in-depth integration definition period, which the client accepted.
During this time, Softjourn engineers dedicated themselves to understanding Bullet’s immediate and longer-term business goals and dug into the code bases of the acquired software to create recommendations about upgrades and changes needed for Bullet to achieve its goals, as well as how to move the integration forward efficiently.
The game plan presented by Softjourn included a variety of options, highlighting the costs and speed of delivery of each. After intense review and consultative discussions, Bullet identified its preferences to move forward.
The Benefits
- Thorough Compatibility Testing: Minimizes conflicts and glitches between integrated components through meticulous testing.
- Enhanced Stability and Reliability: Allows for comprehensive debugging and troubleshooting, resulting in a more stable and reliable final product.
- Improved Communication and Collaboration: Facilitates better understanding of component functionalities, leading to smoother integration and effective problem-solving.
- Effective Issue Resolution: This enables better tracking and monitoring of changes, making it easier to identify and address issues promptly.
- Minimized Disruption: Gradual introduction of changes reduces disruption to ongoing operations, promoting smoother user adaptation.
- Higher Software Quality: Leads to a polished and refined integrated solution by focusing on precision and attention to detail.
Conclusion
Softjourn began the execution of the final game plan as a result of an extensive definition phase period and consultation with Bullet. After Polydone and Quoters software integration, we will continue to collaborate on other projects with Bullet and support them in providing the best service to all their users worldwide.
If you are planning a software integration and are looking for a reliable partner to take you through the process - contact us!
Partnership & Recognition
