MyRepsoft unveils AI platform to automate financial data entry
MyRepsoft, an Auckland-based technology company, has developed an artificial intelligence platform aimed at automating financial data processing for enterprises. The system is designed to remove manual data entry and accelerate document reconciliations in finance and accounting, a process that remains labour-intensive for many organisations.
AI in finance
The platform uses artificial intelligence and natural language processing to extract and structure information from thousands of financial documents in a matter of minutes. This automatic extraction allows organisations to access reliable data quickly, reducing the need for manual templates or configuration.
Salvador Repasa, Co-founder and Chief Technology Officer at MyRepsoft, said: "We're changing the way data extraction is done in the industry. A lot of people are still stuck with old methods that take months to implement. We've created a faster, more practical approach. One that doesn't need templates or manual configuration."
Practical application
MyRepsoft's platform was piloted with a New Zealand-based Fortune 500 company. According to the founders, it delivered an 85% improvement in process efficiency and cut labour costs by a similar proportion. The software consolidates supplier statements, automates reconciliation, and presents data to decision-makers.
"In the real world, many companies only reconcile accounts when there's a problem, when someone complains or a payment is overdue. Our solution lets them do it proactively. It prevents fires before they start," said Hamilee Repasa, Chief Executive Officer and Co-founder at MyRepsoft.
Origins and funding
The company's founders, Hamilee and Salvador Repasa, bring extensive experience in finance, business analytics and enterprise software development. They launched MyRepsoft five years ago after noticing that most financial data in businesses was still managed by people, often manually.
The firm pivoted from its original focus on analytics for early childhood education to financial services, reflecting a broader commercial opportunity. To support ongoing development, MyRepsoft received a research and development grant from Callaghan Innovation in 2024. Hamilee Repasa commented, "It was such a big help. We were already self-funding, and this allowed us to push deeper into developing our own platform."
Technology ownership
Unlike some competitors who use third-party overseas providers, MyRepsoft has built its technology stack domestically. Salvador Repasa said, "Most competitors rely on third-party providers overseas. We built everything ourselves, here in New Zealand. It means we can be more agile and have full control over how it evolves."
Market reach
The company has secured its first major enterprise client and holds partnerships with accounting and enterprise resource planning (ERP) platforms. International expansion is under consideration, with early links to incubators in Maryland and Florida in the United States. In the near term, however, the company's focus remains domestic. "From launch to March, our goal is strong New Zealand growth. We want to show what Kiwi innovation can do before we scale globally," said Hamilee Repasa.
People focus
"What excites me is helping people. I've seen so many talented finance professionals stuck doing grunt work that machines could do better. I want to give them back their time to use their human skills again," said Hamilee Repasa, Chief Executive Officer and Co-founder, MyRepsoft.