Tola provides a platform that integrates accounts payable, accounts receivable, and cash flow management, enabling businesses to automate invoice processing and payment scheduling. This solution reduces administrative overhead and enhances cash flow visibility, allowing companies to manage their financial operations more efficiently.
Funding
$10.2M 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.
Founders
Product
Problem
Many small businesses struggle with fragmented financial management processes, leading to inefficiencies in accounts payable, accounts receivable, and cash flow visibility. Manual invoice processing, delayed payment scheduling, and a lack of real-time accounting synchronization contribute to administrative overhead and hinder effective cash flow management.
Solution
Tola provides a unified platform that integrates accounts payable, accounts receivable, and cash flow management, enabling businesses to automate and streamline their financial operations. The platform automates bill capture from uploaded PDFs and email forwarding, extracts key invoice details, and synchronizes with accounting software like Quickbooks and Xero in real-time. Tola also offers features for scheduling payments, tracking payment status, and easy vendor onboarding, enhancing cash flow visibility and control. Additionally, Tola provides options to pay bills in 30, 60, or 90 days, offering working capital solutions.
Target Audience
Tola primarily targets small businesses, including e-commerce, wholesale, hospitality, service, and non-profit organizations, as well as accountants seeking modern AP & AR solutions for their clients.
Features
- Automatic bill capture from PDF uploads and email forwarding using OCR technology
- Real-time accounting synchronization with Quickbooks and Xero via API integrations
- Centralized dashboard for tracking cash flow, incoming payments, and outgoing payments
- Approval workflows with customizable rules for team members and accountants
- Automated vendor onboarding for collecting payment details
- Payment scheduling to ensure timely vendor payments
- Audit logs for tracking payment steps and sharing payment status with vendors
- Options to pay bills in 30, 60, or 90 days