Fintech friday: iPaidThat - automating and simplifying accounting functions
19/03/2021
Perspective
Anne-Sophie Laignel, COO/CMO at iPaidThat, spoke with Efma’s Boris Plantier about her company’s AI-powered accounting tools that are helping French businesses.
What led to the creation of iPaidThat?
iPaidThat was created by entrepreneurs for entrepreneurs.
The founders of iPaidThat started from the realization that preparing their accounting and sending them to their accountant was a waste of time for the entrepreneurs. In fact, managers encounter several problems: having all the accounting documents and business expenses accounts, to sort them, to store them and to send them in an orderly manner. This leads to a lack of visibility on the company’s financial health.
Therefore, they wanted to facilitate the work of business managers and created iPaidThat.
iPaidThat is a French start-up that uses artificial intelligence to automate the accounting preparation of companies.
The software allows to management of the company in complete security by offering different functionalities. This all takes place via a 100% French intuitive platform.
Could you present iPaidThat's offer?
iPaidThat is a SaaS software that uses artificial intelligence and machine learning. It offers four main features:
iPaidThat was created by entrepreneurs for entrepreneurs.
The founders of iPaidThat started from the realization that preparing their accounting and sending them to their accountant was a waste of time for the entrepreneurs. In fact, managers encounter several problems: having all the accounting documents and business expenses accounts, to sort them, to store them and to send them in an orderly manner. This leads to a lack of visibility on the company’s financial health.
Therefore, they wanted to facilitate the work of business managers and created iPaidThat.
iPaidThat is a French start-up that uses artificial intelligence to automate the accounting preparation of companies.
The software allows to management of the company in complete security by offering different functionalities. This all takes place via a 100% French intuitive platform.
Could you present iPaidThat's offer?
iPaidThat is a SaaS software that uses artificial intelligence and machine learning. It offers four main features:
• Automatic collection of invoices from professional mailboxes, suppliers’ sites (Adobe, Amazon etc...), the office scanner and collaborative platforms.
• A mobile application for taking a picture of all receipts.
• Bank reconciliation and cash flow monitoring: A comparison between the imported invoices and the bank transactions. A notification is sent when an invoice is missing.
• Invoice editor in order to customize all the sales documents to the company’s image.
iPaidThat is a B2B activity that is always looking for a better understanding of user needs: it tackles digital inefficiencies. The SaaS software reduces the time consumed on the accounting and the papers administration and saves managers and financial officers from time-wasting tasks.
What's coming next for iPaidThat?
What’s coming next for iPaidThat is very ambitious and exciting!
As for now, we are fundraising a large amount. These funds will help us develop our product by hiring more than 20 employees in all departments: marketing, sales, and development.
We are also working on a strategy where we want to integrate iPaidThat in all the startups and medium-sized companies in order to help them in their accounting preparation.
We have more than 90 accounting firms that are partners. When an accountant or an accounting firm integrates iPaidThat in its accounting preparation tasks, this allows them to have a clear vision on all its clients' accounting and invoices. Therefore, with iPaidThat, the accounting firm-client relationship is now easier and more efficient.
One of our plans is to launch an international strategy at the end of this year in order to be able to reach Germany, Spain, Italy, UK and the USA.
The fact that iPaidThat does not handle accounting but accounting preparation, is an advantage. We are able to export our platform to any country without much difficulty.
Another keypoint in our roadmap is the payment integration. This integration will allow clients to pay directly for their invoices by iPaidThat.
We have a long way to go, but we are happy to enter the next phase of growth with everyone.
• A mobile application for taking a picture of all receipts.
• Bank reconciliation and cash flow monitoring: A comparison between the imported invoices and the bank transactions. A notification is sent when an invoice is missing.
• Invoice editor in order to customize all the sales documents to the company’s image.
iPaidThat is a B2B activity that is always looking for a better understanding of user needs: it tackles digital inefficiencies. The SaaS software reduces the time consumed on the accounting and the papers administration and saves managers and financial officers from time-wasting tasks.
What's coming next for iPaidThat?
What’s coming next for iPaidThat is very ambitious and exciting!
As for now, we are fundraising a large amount. These funds will help us develop our product by hiring more than 20 employees in all departments: marketing, sales, and development.
We are also working on a strategy where we want to integrate iPaidThat in all the startups and medium-sized companies in order to help them in their accounting preparation.
We have more than 90 accounting firms that are partners. When an accountant or an accounting firm integrates iPaidThat in its accounting preparation tasks, this allows them to have a clear vision on all its clients' accounting and invoices. Therefore, with iPaidThat, the accounting firm-client relationship is now easier and more efficient.
One of our plans is to launch an international strategy at the end of this year in order to be able to reach Germany, Spain, Italy, UK and the USA.
The fact that iPaidThat does not handle accounting but accounting preparation, is an advantage. We are able to export our platform to any country without much difficulty.
Another keypoint in our roadmap is the payment integration. This integration will allow clients to pay directly for their invoices by iPaidThat.
We have a long way to go, but we are happy to enter the next phase of growth with everyone.
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