just paid has added multiple accounts receivable (AR) and accounts payable (AP) reporting capabilities to its platform to help small and medium-sized businesses (SMBs) manage their finances.
These new features join the company's artificial intelligence (AI)-powered platform that enables businesses to make, receive, and track payments. Understand their finances. and identify opportunities, JustPaid said on Tuesday (March 19). press release.
“The new reporting capabilities allow many people, including finance managers, credit managers, sales managers, and auditors, to use these reports as important financial management tools, making them broadly applicable to a variety of organizational roles. Become.” Aneliya Grantsaid the chief product officer and co-founder of JustPaid in a release.
The new AR reports include AR aging, payments received, credit memos, revenue recognition, payment adjustments, and days to collection, according to the release. These reports can help small businesses identify potential cash flow issues, reconcile accounts, monitor adjustments and returns, and gain other cash flow insights.
The new AP report covers AP aging, top 10 spending categories, and top 10 spending vendors, the release states. These reports help users manage cash outflows, see where their money is going, and negotiate better terms with vendors.
users of the JustPaid platform; Daniyal Afzalco-founder of decoda healthstated in the release: “JustPaid has changed my approach to working with financial data. Simple setup, clear insights — it's like having an in-house financial analyst.”
JustPaid debuts AI-powered suite financial services In June, the company announced it had raised $3.5 million in seed funding.Its supporters include: Y combinator, pioneer fund, orange collective and rebel fundaccording to a press release Tuesday.
In announcing its launch, the company said it operates in the more than $5 billion fintech software market and that AI is increasingly automating a large portion of the tasks of financial managers.
“If founders have sufficient tools to understand their finances, the company's employees will feel more secure.” Vinay Pinaka, JustPaid's co-founder and founding engineer, said at the time: “Before I started JustPaid, I saw startups struggling to keep track of their expenses. I wanted to build a tool that would help businesses manage expenses and recognize revenue.”
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