Google Cloud Boosts Syft's Financial Reporting Application to Scale Beyond South Africa

120,000 accountants and financial analysts use the application to analyze raw financial data, with over 1 million business reports generated since its launch

JOHANNESBURG, Sept. 27, 2022 /PRNewswire/ -- Google Cloud announced today a collaboration with Syft Analytics, a South African - based financial reporting application which processes significant volumes of financial data and provides insightful financial reports to accountants, financial analysts, and businesses.

Syft Analytics will leverage Google Cloud to run its online platform and application that reviews, analyzes, and predicts financial data quickly. The platform also provides data visualizations that bring deep insights of financial data to life via reports that make information simple, understandable, and comprehensible to organizational staff, even outside the finance and accounting departments.

From a startup out of Johannesburg to a company competing on a global level, Syft has grown its customer base to 120,000 businesses in the span of five years, across key markets such as South Africa, New Zealand, USA, Australia, and the United Kingdom.  In its early days as a startup in 2019, Syft turned to Google Cloud as its trusted partner of choice to help scale its business offering and operations. To date Syft has experienced a 4000% increase in its customer base since it started running on Google Cloud.

Since the collaboration with Google Cloud came into effect, Syft is able to manage an average of 10,000 requests daily and provide financial reports quickly to customers. The application is hosted on the Google App Engine, with the database being managed by Google Cloud SQL; hence Syft benefits from the flexibility and ease of use of Google Cloud that provides the scalability and robust security the business requires to continue growing. This has also freed up more time for the team at Syft to efficiently focus on enhancing the customer experience.

Niral Patel, Director of Google Cloud Africa, said: "Google Cloud's open standards and architecture is an attractive platform of choice for "digital natives" and "startup" clients such as Syft. Running on Google Cloud enables Syft to retrieve raw financial data and provide customers with granular insights that add significant value to businesses.  With customers at the heart of everything we do, we're proud to have been an integral part of Syft's journey in becoming an international company, and we are proud to deliver the infrastructure capabilities and tools that will further support Syft in its customer excellence and growth."

Matthew Stephanou, Co-founder and CTO of Syft Analytics, said: "The move to Google Cloud enabled a fundamental shift in our business, enabling us to scale with minimal effort, on demand. The Google Cloud team has provided support at all levels, both locally and globally, introducing our team to services such as Cloud Run and other capabilities we can reliably build upon to deliver better and faster insights to clients."

For Syft, customer feedback has been essential in adopting new features on the platform to improve their user experience. With Syft's software powered by Google Cloud, the team has the bandwidth to continuously innovate and add new features to the platform. This flexibility supports Syft in continuously enhancing the customer experience and addressing their evolving needs as their ecosystem progresses.

Google Cloud accelerates every organization's ability to digitally transform its business. We deliver enterprise-grade solutions that leverage Google's cutting-edge technology – all on the cleanest cloud in the industry. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems.

SOURCE Google Cloud