Boston based FinTech company, Tera, has launched a full-stack AI powered finance automation platform to help businesses save time and money by offering a unified experience in managing banking, corporate cards, spend, payments.
"Today, businesses are looking for ways to take greater control of their finances following the global pandemic and the economic shock it has created. They have also significantly accelerated the adoption of digital transformation and the majority are very unlikely to go back to traditional ways of managing their finances," says Madhu Tera, founder and CEO of Tera.
Tera offers software enhanced unified experience through a full-stack AI based finance SaaS platform. Tera enables simple to use software workflows for seamlessly managing cash, spend, cards, and payments that closely map to the real-world business workflows. Tera's offering includes a smart corporate card which supports both physical and virtual cards for subscription management as well as corporate expense management designed to help businesses spend less.
"We have used an AI-first approach in building Tera platform from ground up. Today's users are not just looking to automate manual workflows but at the same time looking for better user experience. By leveraging Artificial Intelligence (AI) and Machine Learning (ML) at the core of our platform, we offer frictionless experience in business banking, corporate cards, bill pay and spend management. We continuously innovate to offer better products as we believe, financial systems, which power any business, can be hundred times better than they are today," said Madhu.
Tera offers both free tier as well as premium subscription-based packages for any business. With an easy self-servicing registration process using web app and mobile apps, any business can register with a business email, add users, link existing bank accounts, setup spend management controls, instantly issue corporate cards. Tera also enables dedicated payment portal for business's counterparties to make payment and send payment links.
Tera established an alliance partnership with ICICI Bank, which is one of the biggest banks in India, to create seamless banking experiences in the product. With this tight integration, every business on the platform automatically gets a virtual bank account used for collecting payments from customers via auto generated payment links for an invoice. Counterparties can access the payment link and make payments using their existing net banking using IMPS, NEFT and RTGS along with credit and debit card payment options.
Tera is in the process of launching the same platform in US soon.
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( With inputs from ANI )
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