SLATE.AC helps businesses manage their finances by providing real time actionable insights with the help of its Natural Language Processing engine. Slate works towards bringing clarity to a company’s accounts, handling approval requests, categorising receivables and payable items, ensuring that a business owner has complete control on their financial standing across the various departments.
The Need Gap
Slate.ac is looking at developing a fresh way of how book-keeping and accounts are managed by SMEs in India. SMEs are the backbone of the Indian economy, comprising more than 65% of total GDP of the country. Although reforms towards simplifying compliance have been made, it has brought little clarity to the average business owner, forcing them to hire a specialist. Slate looks to empower existing professionals in the field and provide more transparency to business owners.
Slate tackles the complexities of the accounting field whilst giving the business owner the transparency and clarity to efficiently meet all compliances in a timely manner. Banking directly from the Slate platform reduces the turnaround time for receiving approvals and making payments. The added benefit of automated cataloging all transactions makes generation of reports dynamic. Slate works to supercharge workflows of professionals in the space by automating book-keeping and repetitive activities to make teams more productive.
Slate’s experience over time and across businesses has helped learn how long it takes to conduct various activities pertaining to accounting and compliance. Its invoicing tool has mastered the art of accurately extracting information from invoices to provide actionable insights to accountants and business owners. Standardisation helps negate deviation and provides a structure which helps factor in the outliers when building the invoicing solution. Slate’s invoicing solution facilitates B2B digital payments by recipients which can be initiated from the invoice itself. It also has the added feature of gently nudging recipients to clear their outstanding dues.
Gaurav is the CEO & Co-founder of Slate.ac, whose objective is to drive adoption of financial technologies in day-to-day operations of the Indian SME ecosystem.
Prior to this, Gaurav ran an early stage venture capital fund, Epiphany Ventures, where he provided several high multiple exits to his investors. Most prominent among these was his investment in Cartrade.com, which is India’s leading platform for buying and selling new & used vehicles. Besides his work in the Indian tech industry, he has also served in senior management positions of his family-owned businesses in the manufacturing sectors of Steel, Mining and Machining.
Gaurav has a B.Sc in Electrical Engineering from University of Pennsylvania, and M.Sc in Finance from City University, London. He is a former Board Member of TiE Mumbai, and an active member of EO Mumbai.
Siddharth Goel has varied interests and looks at the product and development part in slate
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