Tech News: Stripe launches finance automation suite

Stripe, a financial infrastructure business platform, launched its revenue and finance automation suite to help teams deal with costly manual financial processes like quarterly reporting, recurring revenue management and tax. Features include an updated Stripe Tax API that lets businesses manage taxes on transactions, including those not processed by Stripe (available in over 40 countries). New revenue reporting gives finance leaders a snapshot of key financial metrics, including monthly recurring revenue, customer growth by activity and revenue by product. Other features include automated accounting statements for cash-accounting businesses; updates to Stripe Billing that help sales-negotiated businesses manage recurring revenue, including the ability to set subscription schedules in the Stripe Dashboard, model various trial and pricing periods, and automate those changes over time; and no-code revenue recovery and retention automations, which allow finance teams to create customized triggers and actions such as receiving notifications that an invoice is overdue.

Quadient, which makes business automation software, introduced an Advanced Cash Application module for its Intelligent Communication Automation SaaS platform. The new AI-based module in Quadient Accounts Receivable by YayPay offers capabilities ranging from credit and collections management, payments, dispute management, business intelligence and analytics, invoicing, multichannel electronic and print delivery, and cash application. In instances where a payment has been received but the customer has not been identified, the software's machine learning engine will automatically consider data — such as the type of payment, the amount and any remittance data — to provide to a suggested customer. At that point, the AR team can review the transaction and approve it, removing it from payment reminder workflows to avoid overcommunication. 

Metapraxis, a financial reporting and analysis platform,  announced the availability of a Budgeting Calculator to help enterprise FP&A teams make the business case for budgeting process automation. The calculator enables FP&A teams to understand the financial cost of a predominantly manual process versus adopting dedicated budgeting software and is available here.