Pennyflo

What is Pennyflo?

PennyFlo is an innovative financial management platform designed to streamline cash-flow for small and medium-sized enterprises (SMEs) and startups. It leverages AI technology to provide tools for cash forecasting, cost control, budgeting, connected banking, and automated payments. By integrating bank accounts, facilitating vendor payments, and automating tasks like invoice processing, PennyFlo enables businesses to efficiently manage their finances with features such as dynamic forecasting, employee budget management, real-time cash positions, and advanced OCR technology for invoice processing. PennyFlo aims for an estimated 80% task automation, allowing businesses to plan ahead with scenario-based forecasts and maintain control over their finances with accuracy and ease.

Who created Pennyflo?

Pennyflo was founded by Karthik Sreedharan, who serves as the CEO and Co-founder of the company. Pennyflo is a financial management platform aiming to simplify cash-flow management for SMEs and startups through innovative AI technology. The platform offers features like cash forecasting, cost control & budgeting, connected banking, automated payments, and task automation to help businesses efficiently manage their finances and automate tasks seamlessly.

What is Pennyflo used for?

• Cash Forecasting using AI-powered dynamic forecasting
• Cost Control & Budgeting with features like employee budgeting and custom dashboards
• Connected Banking by integrating bank accounts, accounting platforms, and payment gateways into a single workspace
• Automated Payments for simplifying the payment process with features like scheduled payments and invoice automation using advanced OCR
• Task Automation to aim for 80% task automation by organizing and managing cash in one workspace
• Real-time Cash Position access for informed financial decisions
• Dynamic Forecasting for visualizing cash-flow in future scenarios
• Employee Budget Management for tracking budgets and customizing dashboards
• Invoice Processing using OCR technology for accurate and efficient payments
• Scenario-based Forecasting to plan ahead with scenario-based forecasts

Who is Pennyflo for?

• SMEs
• Startups
• Entrepreneurs
• CFOs

How to use Pennyflo?

To use PennyFlo effectively, follow these steps:

1. Connect Bank Accounts: Link your bank accounts to PennyFlo for easy vendor payments, receiving payments, and seamless reconciliation.

2. Cash Forecasting: Visualize cash flow scenarios with AI-powered dynamic forecasting to make informed decisions about the future.

3. Cost Control & Budgeting: Track financials, control spending, and manage employee budgets using custom dashboards for effective planning.

4. Connected Banking: Integrate all bank accounts, accounting platforms, and payment gateways in one workspace for easy tracking and real-time updates on cash positions.

5. Automated Payments: Streamline payments, collections, and reconciliations with the ability to process any number of payments quickly and error-free.

6. Collaborate Efficiently: Work seamlessly with your finance team and accountants to manage finances, schedule payments, and automate invoice processing.

7. Custom Dashboard: Customize your dashboard to monitor cash flow, budgets, and financial transactions effectively.

8. Invoice Automation: Utilize advanced OCR technology for accurate and efficient invoice processing, simplifying payment procedures.

By following these steps, you can leverage PennyFlo's AI-powered features to streamline your financial management processes and stay in control of your cash flow efficiently.