Fintech company Plastiq has announced the launch of its new cash management software Plastiq Pay, which will be marketed primarily to small and medium-sized businesses.
The new product includes:
- Invoice data capture that automatically creates and sends invoices to vendors;
- Team workflow tools for invoice routing, approvals and compliance;
- Automatic two-way synchronization for integration with QuickBooks Online, Xero and Sage Intacct (integrations with Oracle Netsuite and Freshbooks are expected later);
- A cash flow dashboard, allowing users to see all card and bank account balances and receive actionable insights such as payments due, approvals required, and payment method recommendations;
- Short-term financing for supplier payments, allowing users to extend the term of a payment without applying for a bank loan; and,
- A mobile application to access the aforementioned features.
“Plastiq’s payment automation features are designed for CFOs who want to upskill their teams, get people out of mundane, manual work, focus on more meaningful finance function optimization, and reduce costs with a more elegant and modern payment platform,” said Plastiq’s CFO. officer Amir Jafari, in a statement.