Context
Accounting firms spend more than 50% of their time on manual data processing, limiting their ability to provide true value-added services. Eleven is a FinTech startup offering a cloud-based platform designed to help accounting practices efficiently manage documents in an integrated workflow.
![Quickbooks on steroids](https://www.palo-it.com/hubfs/PaloIt_August2020/images/3bdce52f79c0b0cb3a1c179532d0f739da0f014d_eleven_context.png)
Challenge
To work with joint-venture partners to create an accounting platform of the future targeted at professional accountants and medium-sized businesses that meets go-to-market strategy requirements and is suitable for investor pitches. The product must be compelling enough to convince accounting departments to adopt.
![venture partners](https://www.palo-it.com/hubfs/PaloIt_August2020/images/8dbf7e53ba94448afa9e7d92cffa2ab8ca679d5a_eleven_challenge.png)
Outcomes
- Platform digitises documents with 99% accuracy
- Reduces time spent on manual bookkeeping by more than half
- Integrates document management and workflow
- Exposes an open API for easy interaction
- Revolutionises communication between accountants and their clients through journal entry conversations
- Ready for go-to-market and further investment rounds
- Tech Stack: Clojure, Clojure Script Datomic and AWS
- Methodologies: Agile Software Development, Lean Start Up and Design Thinking.
![Palo It](https://www.palo-it.com/hubfs/PaloIt_August2020/images/a9a9be2b962bd965473d125041de0fb66f4803d9_eleven_outcomes.png)
![Palo It](https://www.palo-it.com/hubfs/PaloIt_August2020/images/71811bb5dc277227d73158b0693706ff9778e58a_eleven_end.png)