Companies dealing with business crypto needed saving from exhausting and complicated tax accounting workflows, and Tactic was the lifeline.
Role
Design consultant handling all parts of the design lifecycle
User Research
Design Systems
Timeline
2021 - 2022
Key Results
Businesses saved on average 40+ hours a month on crypto accounting
Series A funding of $11 million in September 2022
Tactic gets acquired by leading crypto tax software TaxBit
Crypto started to appear on more balance sheets, but there weren't too many solutions in the market that truly help companies wrangle taxes for thousands of monthly transactions.
Companies dealing with crypto were at risk of IRS audits and huge fines if they weren't confident with their accounting. I joined the team as the first designer and, with my partner-in-crime—the lead product manager, brought automated solutions that helped businesses do their taxes in a clean, compliant way.
I had the chance to learn from various user types about their current workflows.
A Head of Finance had his engineers pull transactions from different sources to calculate their cost-basis and fees, which takes about 40 hours per month.
Not everything was self-serve. Things like mapping a chart of accounts can only be done by contacting Tactic and having the engineering team set this up behind the scenes.
Customers spent too much time categorizing and labeling their transactions.
I came up with a design to help users see their transactions.
The Transactions page brings together financial activity from the user's various wallets and exchanges and automatically reconciles data, separates fees, handles price conversion, and calculates gains and losses.
Users would be able to swiftly categorize transactions.
This is a high frequency touchpoint for users, as they're making sure their transactions are properly labeled for when they look at their final numbers.
We came up with a way to automate transactions using rules.
Users can set up logic in the rules engine to automatically categorize transactions as they come in. These rules could be applied retroactively as well, giving users granular control.
With new self-serve capability, customers can do their jobs without pause while unblocking our engineering to focus on higher order tasks.
From getting their exchanges and wallets set up to mapping the chart of accounts, users are now empowered to get their job done without having to jump on a call with someone from Tactic.
Tactic raised 11 million in funding in September 2022 and was acquired shortly after by TaxBit.
Tactic now offers even more flexibility when it comes to syncing to @QuickBooks
— TaxBit | Tactic (@choose_tactic) November 2, 2022
Configure how to map your chart of accounts: using Tactic's categories or broken down by specific assets.
Paired with Rules, you can automate your monthly book close process! 🚀 pic.twitter.com/uaqGQlvCtj