OCTA provides an accounts receivable automation platform that streamlines the collection process by integrating with existing accounting tools and automating reminders for outstanding invoices. This technology reduces days sales outstanding (DSO) by 30% and saves businesses over 20 hours per week, addressing the inefficiencies and delays in cash flow management.
Funding
$2.3M 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.
QCSCFounders
Product
Problem
Many small and medium-sized enterprises (SMEs) face challenges in managing accounts receivable, resulting in late payments, disrupted cash flow, and wasted time on manual reconciliation. The traditional process of chasing unpaid invoices is often inefficient, leading to delays in receiving payments and hindering business growth.
Solution
OCTA provides an accounts receivable (AR) automation platform designed to streamline the collection process and accelerate payments for SMEs. The platform integrates with existing accounting tools to automate reminders, track receivables, and facilitate communication with debtors. By automating the process of chasing unpaid invoices, OCTA helps businesses reduce days sales outstanding (DSO), improve cash flow predictability, and save time on manual AR tasks. The platform also offers features for setting up payment plans, providing early payment discounts, and assessing the predictability of receiving timely payments.
Target Audience
OCTA primarily targets small and medium-sized enterprises (SMEs) that struggle with inefficient accounts receivable processes and are looking to improve cash flow and reduce administrative burden.
Features
- Automated reminders for outstanding invoices delivered through various channels
- Real-time invoice status tracking with insights into reasons for delays and customer behavior
- Collection score to assess the predictability of receiving timely payment
- Flexible payment plan options, including early payment discounts and installment payments with fees
- Seamless integration with existing accounting software for automatic invoice and customer data synchronization
- Comprehensive dashboard for monitoring receivables, debtors, and collection efforts