Stripe, a platform that helps businesses with their finances, has expanded its suite of tools that automate revenue and finance processes. This means businesses can now manage their cash flow from start to finish, including billing, taxes, and reporting, all in one place.
Stripe’s new suite of tools gets rid of old and inefficient finance tools and helps businesses grow by streamlining their financial processes. With this update, Stripe is making back-office operations easier and faster for finance teams, so they can focus on more important areas of their business.
Businesses need help managing their finances. Traditional financial processes such as billing, taxes, and quarterly reporting are often manual, time-consuming, and spread across multiple software tools, resulting in accounting errors and discrepancies.
Stripe’s suite of tools addresses these challenges by providing finance leaders with revenue management tools as sophisticated as their businesses. The suite automates manual work and improves accuracy across the cash flow lifecycle, from payments and billing to tax, reporting, and reconciliation.
Using Stripe’s suite of tools, fast-growing businesses can easily manage their finances without having to cobble together various integrations from multiple software providers. A single integration with Stripe can handle payments or subscriptions, and businesses can easily switch to other revenue and finance automation products as they grow. Established enterprises can also use these products to streamline their back-office processes.
“For years, our users have been asking Stripe to help them run a more efficient finance operation, one plagued by fewer daily frustrations,” said Vivek Sharma, head of revenue and finance automation at Stripe. “We can’t ship them Advil every month, but we can take care of their headaches. Stripe’s revenue and finance automation suite is designed to be a smooth, one-stop shop for forward-thinking finance teams.”
Furthermore, Stripe’s expansion of its suite of financial tools includes features such as automated accounting statements, tax management on any transaction, no-code revenue recovery and retention automation, subscription scheduling, a Salesforce CPQ connector, and automatic reconciliation capabilities.
Stripe currently serves over 250,000 companies, including major names like Atlassian, OpenAI, and Ritchie Bros. The platform is designed to streamline and automate financial processes like billing, tax management, and reporting, allowing businesses to acquire, collect, report, and grow revenue more efficiently.
One of the key advantages of Stripe’s platform is its automated revenue recovery features, which have generated an additional $3.8 billion in revenue for businesses in 2022. By providing real-time insights into financial metrics and automating complex processes, Stripe has helped businesses to improve their cash flow and accelerate their revenue growth.
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