Plastiq launches new cash flow management software

Fintech firm Plastiq announced the launch of its new cash flow management software Plastiq Pay, which will be marketed mainly to small and midsized business entities.

The new product includes:

• Invoice data capture that enables automatically creating and sending bills to vendors;
• Team workflow tools for bill routing, approvals and compliance;
• Automatic two-way sync for integration with QuickBooks Online, Xero and Sage Intacct (integrations to Oracle Netsuite and Freshbooks are expected later);
• A cash flow dashboard, allowing users to see all card and bank account balances and receive actionable information such as payments due, approvals required, and payment method recommendations;
• Short-term financing for vendor payments, allowing users to extend the term of a payment without applying for a bank loan; and,
• A mobile app to access the aforementioned features.

“Plastiq’s payment automation features are built for CFOs that want to upskill their teams, get people out of mundane and manual work, focus on more meaningful finance function optimization, and reduce cost with a more elegant, modern payables platform," said Plastiq chief financial officer Amir Jafari, in a statement.