What data structure do I need for millio?

What data structure do I need for millio?

To make optimal use of millio, the innovative app for integrating online banking into Salesforce, a well-thought-out data structure is essential. It forms the foundation for fully leveraging millio’s features and making financial processes in companies more efficient. The most important aspects of the required data structure, as well as the requirements and security precautions that millio brings with it, are outlined below.

The data structure of millio makes it possible to smoothly integrate bank accounts from Germany and Austria into Salesforce. It is crucial to understand the individual components of the structure in order to ensure seamless processing of financial transactions and comprehensive data protection.

1. Basics of the data structure in millio

1.1 Account information

The data structure should clearly present the account information of all relevant bank accounts. This includes:

• Checking accounts: for everyday transactions that occur frequently.
• Savings and call money accounts: for managing savings that may be used for future investments.
• Credit cards: for tracking expenses, especially for managing business expenses and travel costs.
• Securities accounts: for investments and their management, to gain a comprehensive view of the company's assets.

1.2 Transaction data

A clean and structured listing of this account information is crucial to keep track of all financial transactions and minimize manual entries. In addition, transaction data that is important for evaluation and controlling must also be taken into account:

• Income: all inflows of money that are important for liquidity planning.
• Expenses: all outflows of money, which should be recorded in different categories.
• Invoices: for complete documentation of finances, which is needed for controlling and planning.

By clearly presenting this data, companies can reduce manual entries and perform automated evaluations. This not only facilitates financial reporting but also helps improve strategic planning.

2. Prerequisites for using millio

Before companies implement millio in Salesforce, some basic prerequisites should be met:

2.1 Salesforce edition

millio is a Salesforce-native app and requires at least the Salesforce Platform Edition or the Salesforce Sales Cloud Enterprise Edition. Higher editions of Sales Cloud are also supported to ensure optimal use.

2.2 Bank accounts

To use millio effectively, companies should have bank accounts in Germany or Austria. Connecting these accounts to Salesforce enables access to all relevant financial data in real time.

2.3 Understanding of the data structure

A clear understanding of the required data structure is crucial. Companies should ensure that they know how to organize their financial data and how this improves their planning and controlling. This can also include training for employees to ensure that they fully utilize the benefits of automation and real-time data processing.

3. The importance of the data structure for automation

A well-designed data structure has a significant impact on the automation of financial processes. millio makes it possible to process transactions directly in Salesforce, which brings the following advantages:

• Automated assignment of invoices: A clear structure of the data allows invoices and transactions to be assigned automatically. This saves time and reduces manual errors, which ultimately increases the efficiency of the entire finance department.
• Real-time updates: The data is updated in real time, so companies are always up to date. This is particularly important for planning and controlling, as decisions should be based on current information. Companies can thus react quickly to changes in the market and adapt their strategies accordingly.
• Minimization of manual entries: A well-organized data structure reduces the need for manual entries. This increases efficiency and ensures that employees can focus on value-adding activities. In addition, automation reduces the risk of human error, leading to greater accuracy in financial reporting.

4. Security and data protection of the data structure

Data security is of utmost importance when implementing millio in Salesforce. millio uses a secure interface to finAPI, which is monitored by BaFin. This ensures that:

• SSL encryption: All data is transmitted securely to prevent unauthorized access. SSL encryption protects sensitive information during transmission and ensures that data integrity is maintained at all times.
• No data storage: millio does not store sensitive information but merely forwards it. This protects the data from unauthorized access and ensures data protection, which is particularly important for companies that are subject to strict compliance requirements.

Conclusion

Choosing the right data structure is crucial for the successful use of millio within Salesforce. Through the right connection, the possibility of automating processes, and clear planning, companies can significantly improve their financial management.

millio not only offers an efficient solution for online banking but also supports comprehensive evaluation and effective controlling. The consistent implementation of a well-thought-out data structure also contributes to the long-term competitiveness of companies.

Ready to optimize your financial processes? With millio, you can seamlessly integrate your online banking into Salesforce and save yourself manual work. Get all the benefits now—real-time data, automation, and full control over your finances. Try it out and get started right away!