Zoho launched Zoho Spend, a spend management application that integrates payroll, accounts payable automation, travel, expense and procurement, and Zoho Billing Enterprise Edition, which is designed to streamline billing operations to recognize revenue faster.
The applications are designed for larger companies and enable smaller ones to scale without leaving the Zoho platform. In addition, Zoho added a series of AI tools in applications across Zoho's Finance and Operations Platform.
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Prashant Ganti, Zoho's vice president of global product strategy, development and alliances for the finance and operations unit, said Zoho Billing Enterprise Edition "brings together lot of capabilities that caters to large enterprises, like advanced customer, lifestyle management, lifecycle management and complex pricing models coupled with tools to address regulatory norms."
Ganti said Zoho Billing Enterprise Edition already has customers live including one that is processing 20 million invoices on the platform.
As for Zoho Spend, Ganti said the application is designed to unify the processes behind the money going out of the enterprise. "The application is designed to bring all the disconnected strands of spend in one platform," said Ganti.
Ganti added that Zoho is continually adding AI features across its finance and operations platform to take out manual work using its Zia assistant.
Here's a look at products.
Zoho Spend
- The application has a dashboard that provides a consolidated view into procurement, accounts payable (AP), corporate travel, employee expenses and payroll.
- Zoho Spend features procurement tools to simplify source-to-pay processes, onboard vendor onboarding and manage purchase requisitions and purchase orders and bills.
- AP automation tools capture bills with OCR-scanning, matching and payment approvals.
- A self-booking travel tools with integrations for corporate fares that are compliant with policies.
- Tools to automate expense reporting.
- Automated payroll processing with compliance across federal, state and local taxes.
Zoho Billing Enterprise Edition
- The suite is designed to enable enterprises to monetize with multiple revenue strategies across 15 country-specific editions. Zoho Billing Enterprise Edition can help companies monetize via standard, project-based, subscription or usage-based billing.
- Collection workflows are automated.
- Lifecycle management tools are focused on subscriptions from trial to conversion to plan changes to retention.
- Revenue recognition is built in with role-based dashboards and reporting.
- Ask Zia is a finance assistant providing insights about billing efficiency and customer behavior.
Broad AI additions
- Zoho added Co-Create Agent, which transparently creates invoices, quotes, credit notes, sales orders and custom reports.
- Bank reconciliation with automated suggestions to categorize transactions.
- Revenue forecasting via AI to predict trends.
- Anomaly detection to flag inconsistencies with transactions.
