Financial infrastructure platform, Stripe, is expanding its revenue and finance automation suite to give businesses more control over the lifecycle of their cashflow. By coordinating billing, tax, reporting and data services into one stack, Stripe’s suite eliminates the inefficiencies of legacy finance tools and supports revenue growth.
With the launch of Revenue Reporting and major upgrades to Stripe Billing and Stripe Tax, Stripe aims to bring the same user-first approach to back-end operations that it brought to payments.
“For years, our users have been asking Stripe to help them run a more efficient finance operation, one plagued by fewer daily frustrations. Stripe’s revenue and finance automation is designed to be a smooth, one-stop shop for forward-thinking finance teams,” Stripe head of revenue and finance automation, Vivek Sharma said.
The revenue and finance automation suite includes Billing and Stripe Invoicing for acquiring customers and earning revenue; Stripe Tax, Revenue Recognition, and Revenue Reporting for collecting sales tax, reporting revenue, and closing the books; as well as Stripe Data Pipeline and Stripe Sigma for data analysis.
The expansion includes a new Revenue Reporting tool for a better snapshot of key financial metrics, Stripe Tax API for businesses to manage tax on any transaction, Stripe Tax support for additional location-specific tax requirements, no-code revenue recovery and retention automations for customised triggers and actions, the ability to set up subscription schedules in the Stripe Dashboard, a new Salesforce CPQ connector for sales teams, and automatic reconciliation capabilities to compare order-level data with Stripe transactions and bank deposits.