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Use Case Overview

Picture this: you’re a lending business and want to underwrite a $50,000 loan for a merchant. How do you validate the merchant should be eligible for this loan? Traditionally, you could look at bank statements manually but clearly this isn’t ideal. Using Alloy, you can easily grab realtime financial data to get the most accurate financial picture when underwriting.

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Balance Sheet Data

To get started, create a workflow with the On Installation Trigger and select the Accounting System of your choosing. The On Installation Trigger tells Alloy to only run this workflow the initial time an end user connects. If you need to run the workflow multiple times, you can use a Custom Event or a Scheduled Trigger to run at specific intervals. Next, select the Accounting System of choice. For our demo, we’ll use Xero. You can see a snippet of the financial data available below:

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Obtaining Balance Sheet

To obtain Balance Sheet data, select the Retrieve Balance Sheet action. We can then stream the Balance Sheet data back to your application with the Data Stream connector. Your workflow should look like the below.

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Trial Balance

You can use Alloy to retrieve a user’s Trial Balance. Select the Trial Balance action within Alloy to retrieve and then stream this data back to your application.

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Payments

Use Alloy to retrieve all payments in your Accounting System/ERP. The workflow below makes it easy to configure this use case.

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Profit & Loss

You can also retrieve Profit and Loss data via Alloy’s accounting integrations as seen below.

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Wrapping Up

You can use Alloy to build powerful workflows that retrieve financial data including P&L, Balance Sheet, Trial Balance, Payments, etc. You also also subscribe to realtime events to get notified each time a record is updated or created in a 3rd party app (i.e. every time a new Sales Order is created, notify me).