Plooto launches enhanced all-in-one payment automation solution to expand business

New offering enables companies with complex payment workflows to implement customizable protections, strict security controls and bi-directional synchronization with Oracle NetSuite

Toronto, January 15, 2024–(BUSINESS WIRE)–Plooto, the leading payment automation solution for small and medium-sized businesses (SMBs), has launched a payment orchestration product custom-engineered to support the complex workflows and security requirements of rapidly expanding businesses.

As businesses increase in size and operational complexity, so do the risks of fraud and human error. This has led to businesses implementing more stringent security and control strategies to keep cash flow management safe and secure, which has placed an additional burden on finance teams, including the time, effort and resources spent upgrading or building in-house solutions.

Accounting and bookkeeping firms face similar challenges, as their strong compliance processes and corresponding reputations are key drivers of growth. A company’s ability to retain and grow customer accounts depends not only on strong relationships, but also on their adherence to strict compliance standards, particularly when it comes to the protection of financial data.

With this launch, Plooto brings Canada’s first solution to market to address these unique cash management challenges faced by mid-sized businesses. The product is priced competitively as organizations often view cost as a barrier to adopting cash management solutions. As operations increase in volume and complexity, enterprises can trust Plooto to seamlessly scale their needs without straining resources.

Combining end-to-end payment automation with strict security controls and seamless connectivity to enterprise resource planning (ERP) solutions, Plooto is now able to help more businesses scale efficiently across their ecosystems.

Based on Plooto’s streamlined, all-in-one accounts payable and receivables automation core product, new features include:

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• Dual control: Limit human error and prevent fraud with full approval of changes to sensitive financial information

• Single sign-on: Enterprise-grade protections enable security staff to manage user access to sensitive data and remove data from centralized hubs as teams grow in size

• Integration with Oracle Netsuite: Seamless two-way sync automates reconciliation, preventing costly human errors, reducing billing time, and helping finance teams save time

“Our new product makes it easy for finance teams to scale their workflows and get the visibility they need for their vital cash flow,” said Hamed Abbasi, co-founder and CEO of Plooto. “I’m excited that Plooto is expanding. Our approach supports growing small and medium-sized businesses, and we are the first company to fill this critical gap for Canadian businesses.”

Recently awarded the Deloitte Technology Fast 500™ and Technology Fast 50™ designations for its impressive 3-year growth of 433%, Plooto continues to provide industry-leading support to small and medium-sized businesses, enhancing cash management through its comprehensive platform. A kind of payment automation. Plooto has also recently expanded its leadership team, bringing with it a wealth of experience from major financial services companies such as Varo Bank, Xero and PayPal.

Learn more about Plooto’s mid-market solutions here.

About Pluto

Plooto works with growing small and medium-sized businesses to give them complete control over their cash management. The all-in-one payment automation platform securely automates all payables and receivables workflows, provides extensive payment functionality, and seamlessly integrates with accounting software to automatically reconcile invoices. Founded in 2015 and headquartered in Toronto, Plooto serves more than 10,000 North American businesses and integrates with top accounting software platforms Quickbooks, Xero and NetSuite. Plooto simplifies complex processes at scale and is the financial engine businesses rely on to realize their growth potential.

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