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Klak, a leading B2B SaaS provider, has launched an innovative cash flow management and finance automation platform. The platform is designed to help small and medium-sized businesses (SMBs) streamline their financial operations and optimise cash flow.

According to Klak, everyday financial and Treasury operations are manual, time-consuming, and complex. “The fragmented data caused by a lack of communication between the numbers of banks, payment processors, accounting software, ERPs, and databases that make up a company’s financial stack is also crippling, causing limited visibility into a company’s cash flow. Not to mention the complexities involved in the month-end reconciliation process across multiple banks and entities, as finance teams are struggling to manually reconcile the sheer volume of incoming and outgoing transactions and are facing an increased risk of financial losses and an inability to pass audits.

“The finance and Treasury teams are ultimately in charge of their company’s financial health and bear the weight of the world on their shoulders. Still, they don’t have access to the tools and information needed to make timely, mission-critical decisions.

Aygebusi highlighted the challenges faced by finance and Treasury teams. “They are ultimately in charge of their company’s financial health and bear the weight of the world on their shoulders. However, they don’t have access to the tools and information needed to make timely, mission-critical decisions.

Klak’s platform connects with local and international banks, integrates with existing systems, and centralises financial data into one dashboard. “We have built Klak as an ‘all-in-one finance automation platform’ for companies working with multiple banks, managing liquidity, offering credit sales through invoices, and reconciling an immense number of transactions,” Aygebusi explained.

The platform provides real-time cash flow analysis, representing the true picture of a business’s financial health. “Klak functions as an add-on to your ERP, automating your bank reconciliation process, helping you complete reconciliation in minutes, not days, improving data accuracy, and eliminating errors, leakages, and headaches associated with manual reconciliation processes,” Aygebusi said.

Klak’s platform also integrates with accounting software such as QuickBooks Online, Sage Business Cloud Accounting, and enterprise resource management software like Microsoft Dynamics 365 Business Central, Oracle NetSuite, and Odoo. Additionally, it connects with payment processors like Paystack and Flutterwave, as well as mobile money accounts.

By providing a centralised platform for financial data, Klak aims to simplify financial management for SMBs. “Our goal is to empower finance and Treasury teams with the tools and insights they need to make informed decisions and drive business growth,” Aygebusi said.

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