Growfin is a finance CRM designed for B2B finance teams to automate accounts receivable processes, enabling real-time tracking, AI-based account prioritization, and touchless payment matching. By streamlining collections and cash application, Growfin significantly reduces Days Sales Outstanding (DSO) and manual effort, enhancing cash flow management.
Funding
$8.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SGFounders
Product
Problem
B2B finance teams often struggle with inefficient accounts receivable (AR) processes, leading to delayed payments, increased Days Sales Outstanding (DSO), and significant manual effort in collections and cash application. Tracking down overdue invoices, matching payments to remittances, and prioritizing accounts require substantial time and resources, hindering cash flow management.
Solution
Growfin offers a finance CRM designed to automate and streamline B2B accounts receivable processes, providing finance teams with enhanced control over collections and cash application. The platform uses AI-driven account prioritization to identify risky accounts and predict invoice pay dates, enabling proactive engagement and preventing potential delays. Growfin automates payment matching by extracting remittance data from various formats and automatically reconciling payments with invoices, even for short or bulk payments. By centralizing customer data, automating follow-ups, and facilitating seamless collaboration, Growfin helps businesses reduce DSO, minimize manual effort, and improve cash flow forecasting.
Target Audience
Growfin primarily targets B2B finance teams, including AR managers, collection analysts, and CFOs, who are seeking to optimize their accounts receivable processes and improve cash flow.
Features
- AI-based account prioritization using 13 real-time factors to identify risky accounts and predict payment dates.
- Automated payment matching with AI-powered remittance extraction from any format.
- Precision dunning capabilities for targeted and effective customer communication.
- Real-time tracking and analytics providing visibility into collector performance, DSO, and cash flow patterns.
- Intuitive collaboration workflows for managing disputes, escalations, and communication with sales teams.
- Seamless integration with ERP systems and other essential tools.
- Customizable dashboards for monitoring key AR metrics and team performance.
- Automated task assignment and notifications for efficient team collaboration.