With the growing usability of artificial intelligence (AI), there are a myriad of powerful tools available to startups to make their teams and processes more efficient than ever. One key area that is experiencing innovation through AI is finance. AI tools that use advanced technologies make managing startup finances easier and more accurate — from bookkeeping software to invoice automation. If you’re looking for the best AI-powered finance tools for startups, you’re in the right place.
Top AI Tools for Finance
Whether you’re looking for a powerful bookkeeping tool or a project management solution for your finance team, these AI tools streamline processes and improve accuracy to keep your business’s finances in order with ease.
1. BILL
BILL is a financial services company that offers a myriad of tools for startups, such as accounts payable, accounts receivable, corporate credit cards, and expense management tools. The company integrated AI into their platform to streamline tasks and automate processes across all their finance tools.
The platform’s feature-rich tools use automations for everything from invoice data extraction to spend management and integrations with major accounting apps.
Notable Features
- Invoice Data Extraction: Extract all data from invoices automatically with BILL’s AI features.
- Duplicate Identification: BILL automatically detects duplicate invoices to eliminate overpaying and reduce errors.
- Invoice Comparison: The platform automatically compares invoices to detect patterns, allowing users to set up auto-charge and auto-pay.
- Automatic Two-Way Sync: BILL connects with popular accounting apps like QuickBooks and Xero for automatic two-way sync.
Pricing
BILL has multiple products to choose from, including Spend & Expense — free to use for startups that qualify for BILL’s corporate credit card. You can bundle its Accounts Payable and Accounts Receivable offerings for $79 per user per month or, if you prefer to use them separately, expect to pay $45 per user per month for the Essentials plan or $55 per user per month for the Team plan.
Pros
- Automated workflows eliminate human error
- Rewards available from credit services
- Expense management tools included at no cost
Cons
- Some features only available when you sign up for lines of credit
- Packages can be costly — especially for larger teams
2. Upmetrics
While Upmetrics is known for business planning software, the company also offers an AI-powered financial forecasting software loaded with features to allow businesses to assess their current financial performance and plan for the future. Through the platform, Upmetrics users can create financial projections up to 10 years in advance as well as conduct a variety of analyses with scenario planning tools, profitability analysis features, and more.
The platform also includes a variety of additional features to support businesses, such as pitch deck creation and strategic planning features. Each offering by Upmetrics includes advanced AI features to enhance the experience and drive better results.
Notable Features
- Long-Term Forecasting: With Upmetrics, businesses can create financial forecasts up to 10 years in advance.
- Multiple Analysis Tools: The platform offers visual, what-if, and profitability analysis tools.
- Ready-to-Use Templates: Customers can choose from an extensive list of industry-specific financial plan templates.
- Real-Time Collaboration: Teams can easily collaborate and share financial plans across any device and work together in real time.
Pricing
Upmetrics offers three plans: Starter ($9/month), Premium ($19/month), and Professional ($49/month). Customers can save up to 25% on their chosen package by opting for annual billing.
Pros
- AI-powered features enhance and simplify the process
- Long-term financial forecasting helps businesses prepare for the future
- Additional business planning tools included with all packages
Cons
- Long-term financial forecasting features only included in higher-cost plans
- Export formatting options are limited on the lower-cost plan
3. Zeni
Zeni is an AI-powered bookkeeping platform built by founders, for founders. The platform combines the expertise of financial professionals with powerful AI to accurately and efficiently manage your startup’s bookkeeping.
Users also gain access to real-time data from metrics, such as burn rate and cash flow, for a comprehensive overview of their startup’s financial performance. One of the key benefits of using the Zeni platform is that they provide access to financial experts who work hand-in-hand with the company’s technology to provide startups with the best financial management services possible.
Notable Features
- Automations: AI takes care of repetitive tasks, removing human error and streamlining processes through automation.
- Access to Professionals: Zeni users gain access to experts, bookkeepers, certified public accountants (CPAs), and fractional CFOs.
- Real-Time Analytics: Back important decisions with real-time data from a variety of crucial metrics.
- Additional Perks: Zeni’s team of experts can provide guidance on everything from taxes to budgets to investors relations.
Pricing
Zeni offers three packages: a Starter Plan for $549 per month, a Growth Plan for $799 per month, and an Enterprise Plan that requires custom pricing.
Pros
- Access to financial experts
- Automations reduce human error
- Bill pay for vendors feature is unlimited
Cons
- More expensive than many competitors
- Some helpful features only available at an additional cost
4. Truewind
Truewind leverages generative AI to provide powerful bookkeeping services for startups and small businesses. It combines its end-to-end AI-accounting solution with a team of real CPAs to provide accurate, fast services that include tax preparation, bookkeeping, and CFO services.
Plus, the platform seamlessly integrates with other financial services to allow users to create a robust, streamlined financial tech stack.
Notable Features
- Helpful Integrations: Truewind integrates with popular apps like BILL, QuickBooks, Stripe, and NetSuite.
- CFO Support: Users can utilize personalized CFO guidance to help track and manage financial performance.
- Tax Services: From tax credits to filing, Truewind serves as a dedicated tax preparer for users.
- Team of CPAs: Users not only benefit from AI-powered tools, but also get support from a team of expert CPAs.
Pricing
Pricing for Truewind is available only by scheduling a demo.
Pros
- Financial forecasting services from CFOs
- Excellent customer service
- Makes bookkeeping more efficient and accurate
Cons
- No pricing included on the website
5. Vic.ai
Vic.ai is a financial management platform designed to automate and optimize accounting processes using AI and machine learning. Leveraging advanced AI algorithms, the platform aims to reduce manual effort, improve accuracy, and enhance decision-making in finance functions. The platform includes features for invoice processing, expense management, and financial insights.
Notable Features:
- Invoice Processing: Vic.ai uses AI to automatically process, categorize, and approve invoices, significantly reducing manual data entry and errors.
- Smart Matching: Users can match invoices to purchase orders and contracts, ensuring compliance and streamlining the accounts payable process.
- Customizable Workflows: The platform allows for customization of approval workflows, adapting to the unique needs of each business.
- Analytics: It also provides actionable insights on spending patterns and vendor performance as well as predicting cash flow needs.
Pricing
Vic.ai doesn’t disclose pricing on their website so customers must request a quote directly.
Pros
- Automates repetitive tasks to save time
- Reduces human error with powerful automations
- Easily scales to accommodate increases in invoices
Cons
- Steep learning curve
- No pricing information available online
6. Booke
Booke is an AI-powered accounting and bookkeeping software built for accountants and business owners. For business owners, the platform’s robotic AI bookkeeper saves time and ensures accuracy while two-way sync integrations create an efficient line of communication between finance professionals and the business.
Notably, when the AI bookkeeping assistant isn’t completely sure about the category of a transaction, it’ll request human approval to ensure no transaction is inaccurately organized. This allows the technology to continuously improve and ensures accuracy.
Notable Features
- AI Assistant: Booke’s AI assistant handles reconciliation and warns businesses of potential mistakes or issues with accounts.
- Invoice Data Extraction: The platform automatically extracts data from invoices, receipts, and bills to quickly and easily process transactions.
- Email Processing: Using ChatGPT, the platform will automatically create tasks from emails to save time and effort for users.
- Detailed Log: The robotic AI assistant keeps a detailed record of all actions for complete transparency.
Pricing
Booke offers two plans: Data Entry Automation Hub for $20 per business per month and Robotic AI Bookkeeper for $50 per business per month.
Pros
- User-friendly platform
- Competitively priced
- Integrations with popular accounting software
Cons
- User minimums are somewhat prohibitive
- Businesses still need to hire a bookkeeper or accountant