Meet Flowie, a new French startup that seeks to make money transfers between businesses easier. The company centralizes all accounts receivable and payable information so that everyone in the company can view essential information when it comes to getting paid by clients and receiving money from suppliers.
Yann Ravel-Sibillot, Rémi Legorrec, and Aurélie Hadida founded Flowie. The company’s CEO, in particular, has extensive experience with large-scale invoicing management. He was Big Mamma’s CTO and worked on Sunday, a speedy restaurant checkout flow.
The Flowie team hopes that their new firm will enhance how businesses handle bills. Flowie serves as a repository for all of your transactional data.
It communicates with all of your existing tools, such as your ERP system, which stores your contracts, order numbers, receipt slips, and so on. Flowie also interacts with your CRM, giving you more information about a client or supplier’s relationship. Finally, it connects to your bank account to determine whether or not you have received a payment and to initiate fresh payments.
For example, when you receive an invoice from a supplier, the person in charge of accounting usually has no idea whether or not they are obligated to pay this provider. Perhaps your organization never received what you paid for.
Instead of having an internal debate and causing friction, anyone on Flowie can validate transactions. The software attempts to retrieve information from the invoice automatically, and employees can add files to provide context.
When a transaction is approved, you have the option of paying it now or at a later date. If you arrange a future payment, you can notify your supplier that the payment has been booked and that there is no need for them to contact you regarding the outstanding invoice.
On the other hand, when it comes to accounts receivable, businesses can upload an invoice to Flowie. It is then transformed into an e-invoice with a QR code. Clients can view several payment methods by clicking on a link. They can pay via bank transfer, credit card, or direct debit. You may also provide early payment discounts with Flowie.
The startup is still in its early stages. The company has received some funding from business angels, and 11 individuals are working on the product. However, the company’s infrastructure has previously monitored hundreds of millions of euros in invoices.