Finly: Account Payables Automation Powered by Machine Learning

 Vivek AG,  CEO,  Veekshith Rai,  COO

Vivek AG, CEO

Veekshith Rai, COO

While a company's culture may help you attract young and capable talent, it is eventually the company's payables against receivables that makes it or breaks it. Developed in 2015, Finly is a SaaS based platform which allows businesses to automate, track, and streamline business spends, ensuring efficiency in the finance department coupled with control & cost savings. Driven by machine learning to automate and control accounts payable, Finly is suitable for medium sized large enterprises as it provides the CFO with complete visibility and control over company expenditures with the robust policy framework & information reports.

Designed with four distinct products, Finly enables Expense Management that captures every Business Expense on the fly, Payment Automation to automate all the business banking payments, E-Procurement system to Streamline Purchase Process and control Business Spend and Budget, and Insights to save and gain Finance Control by automating Account Payables.

The flagship product is realtime budgeting and spending report automation. With the use of guided Machine Learning, and evidence based reasoning technologies to
reveal hidden patterns of fraud, waste, and misuse that a person would find impossible. Finly is working with CFOs & Banking Experts in designing new products to enable finance teams with tools and data to automate their finance operations. At Finly, we believe that the next generation of Finance teams would not spend time on manual work carryingout their day to day operations, they would be performing critical tasks of analyzing & tracking key metrics relevant to the company's growth.

The firms customer success team enable finance teams to use Finly's budgeting system to allocate budgets and give them complete control over their business spending

EbixCash has powered the payments platform enabling us to decentralise spending and thereby further increasing the efficiency of the Finance Department. All payments are automatically captured and processed through the policy framework before feeding the same into an Accounting System. We are a nervous system connecting various stakeholders within the business, the bank account/payment system of the company with the accounting ERP.

The organization consists of a product designing team, enterprise sales, digital marketing team, operations, technology experts and customer success team. Along with this, the organization has an advisory board of finance experts to build a governance framework to ensure businesses are compliant with their financial transactions. Finly's marquee customers include Swiggy, Vasu Chemicals, OLX, Quikr, Kaveri Microtek, Toppr, Upgrad, Payoneer Inc., Hindustan Medicare and others.

The firms customer success team enable finance teams to use Finly's budgeting system to allocate budgets and give them complete control over their business spending. The system will give them a clear indication as to where exactly the spending should be and how the budget should be allocated to a particular cost center or to a department. Not just this, the system will also allow them to track all expenditure and see the amount that's been spent against the allocated budgets. This will help the business to reduce unnecessary expenditures and streamline business spending allowing the finance team to draw insights on helping the management scale the business.