Plooto, a payment automation solution for small-to-midsized businesses (SMBs), has launched a payment orchestration offering that is custom-designed to support the complex workflows and security requirements of rapidly scaling businesses.
As the size and operational complexity of businesses increase, the risk of fraud and human error grows. This leads businesses to implement more rigorous security and control policies to keep the management of cash flow secure and reliable, placing additional burdens on finance teams including time, effort, and resources spent upgrading or building in-house solutions. Similar challenges extend to accounting and bookkeeping firms, as their robust compliance processes and corresponding reputation are critical drivers of growth. Firms’ ability to retain and expand client accounts hinges not only on strong relationships but also on their adherence to rigorous compliance standards, especially when it comes to financial data protection.
With this launch, Plooto brings to market a solution to address these unique cash management challenges faced by midsize enterprises. Organisations often cite cost as a barrier to adoption of cash management solutions. As volume and complexity of operations increase, Plooto offers to scale their needs seamlessly without straining their resources.
Plooto’s solutions provides dual controls to limit human error
Building upon Plooto’s core offering of simplified, all-in-one payables and receivables automation, new capabilities include dual controls. This limits human error and protects against fraud through comprehensive approvals on changes to sensitive financial information. It also includes single sign-on, enterprise-level safeguards that enable security personnel to manage both user access to sensitive data and removal from a centralised hub as teams scale, Integration with Oracle Netsuite offers seamless two-way sync automates reconciliation protecting against costly human error, reducing billable hours, and helping finance teams save time.
Hamed Abbasi, Co-Founder and CEO of Plooto, commented: “Our new offering enables finance teams to easily scale their workflows and gain the visibility they crucially need into their cash flow. I’m thrilled that Plooto is expanding how we support growing SMBs, and that we are the first company to fill this critical gap for Canadian businesses.”
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