January 28, 2025

AI Insights

Best AI Tools for Finance Teams

Discover the best and most used AI finance tools for finance teams. We breakdown specific finance tools across and detail how these AI native finance tools are enabling finance teams to transform their operations.

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Best AI Tools for Finance Teams

As we’ve previously written – The Future of Finance is AI, and finance teams are well-positioned to take advantage of the advances in large language models and leverage AI within their workflows. The volume of repetitive manual tasks and increasingly limited headcount budgets suggests AI adoption within finance teams is only a matter of time. We believe this time has come.

But for most corporate finance teams curious to explore and implement AI knowing where to start is a challenge in itself. Between the hundreds of tools claiming to be AI-powered and the slew of new tools promising to save hundreds of hours, it can be difficult to make sense of what is real, who is using what, and what investments will generate returns.

Moving from generic AI to finance native AI tools

For most finance professionals, the extent of their AI tool adoption is often limited to using ChatGPT or Claude on an Excel formula, a policy document, or helping to calculate a certain metric. The more adventurous will drop an actual PDF or an Excel document in the prompt window and ask the AI to help them with a task. Most of the time results are a coinflip and take longer to audit and fix than doing the work itself.

We’ve first-hand seen how AI native financial tools can perform for teams and how purpose-built AI agents for finance can help teams make the transition. Boards and leaders across companies are looking for efficiency gains and AI adoption is in every part of the business. Finance can, and should be, a positive agent for change and with the right tooling can help usher important departments into the AI revolution.

After hundreds of conversations with finance leaders, we’ve compiled a list of the best AI tools for finance teams and are breaking them down by workflows & function.

AI for Finance: Top AI Tools for a Finance Professional

AI FP&A & Reporting Tools

FP&A and Strategic finance teams need to make tradeoffs between flexibility (manual work and Excel spreadsheets) or automation (FP&A software). The status quo is often both given the complexity of the analyses they need to perform and the need to automate their function.

Traditional FP&A tools (non-AI native) create small improvements but can’t be relied on to scale FP&A teams efficiently. AI native FP&A tools don’t require this trade off and allow for more automation without losing the flexibility that comes with building their own bespoke workflows.

Concourse

Concourse AI Agents
Concourse is building AI agents for corporate finance teams.

Use Cases: Strategic finance teams use Concourse to automate financial reporting, financial analysis, and forecasting. Concourse connects to financial data sources within the enterprise and allows teams to query, visualize, forecast, and report on performance in seconds through natural language

Best for: Medium to larger finance teams with complex reporting packages and financial forecasts that spend hours doing manual work to get to outputs that can be used for strategic decisions shared with executives and department heads

Customers: Instabase, Persona, Shef, Lightmatter, Snackpass, Descript, Billy

Funding: $4.7M from Andreessen Horowitz, CRV, Box Group, Y Combinator

AI Accounting & Bookkeeping Tools

Traditional accounting and bookkeeping software often requires manual data entry and reconciliation, leading to inaccuracies and inefficiencies. As we previously mentioned, time to close is 6.4 days on average and AI accounting tools are helping reduce this time through automating of workflows, reducing human errors, and freeing up time for more strategic tasks.

Numeric

Booke AI Reconciliation
Numeric automates bookkeeping and reconciliation work for accounting teams.

Use Cases: Numeric focuses on helping make the close as easy as possible by automatically categorizing transactions with artificial intelligence and instantly creating workpapers and subledgers

Best for: Accounting teams who have complex financial data structures and want to spend less time in spreadsheets when closing the books

Customers: Metropolis, Wealthfront, Betterment, Zip, Mercury, Clearbit, Heap

Funding: $38M from Menlo Ventures, Long Journey Ventures, Founders Fund, IVP, 8VC, Access Industries

Truewind

Truewind AI Accouting Platform
Truewind is a digital staff accountant that helps accountants close books faster.

Use Cases: Accounting teams use Truewind to streamline account reconciliations to shorten the time to close. Truewind’s AI also creates smart workpapers to further increase the accounting team's impact

Best for: Finance professionals who want to categorize bank transactions faster through leveraging AI. Truewind helps both accounting firms scale their operations as well as accounting teams deliver faster without manual work

Customers: Wefunder, Flagright, StartPlaying, Superpath, Hadrius, Finto, Frank Rimerman, Eisner Amper

Funding: $16.5M raised from Rho Capital, Thomson Reuters Ventures, Pathlight Ventures, Y Combinator

Rillet

Rillet AI ERP
Rillet is a modern enterprise resource planning solution for accounting workflows.

Use Cases: Seamless invoicing and revenue recognition within your accounting system to cut time to close, manual bookkeeping, and reconciliation of invoices and bills

Best for: Finance teams who want to upgrade their ERP and centralize invoicing and billing within one system to have cleaner financial data ready for financial analysis

Customers: Lang.ai, Laurel, Finch, Codeium, Northbeam, Blackthorn, Omni, Graph8

Funding: $13.5M raised from Susa Ventures, First Round Capital, Box Group, Puzzle Ventures

AI Accounts Receivable Tools

Manual accounts receivable processes are time-consuming and prone to errors, leading to delayed payments and reduced cash flow. AI AR finance tools streamline these processes by automating tasks such as invoice generation, payment reminders, and collections follow-up. AI finance tools for AR analyze customer payment history to predict potential delinquencies and prioritize collections efforts accordingly as well as automate the financial management of financial data inside contracts. This proactive approach improves cash flow predictability and reduces manual work for finance professionals

Maxio

Maxio AI Billing Platform
Maxio is a financial operations platform that helps software companies manage billing, invoicing, and all revenue operations

Use Cases: Finance teams use Maxio to manage billing and invoicing operations through scaling billing and pricing infrastructure. Their AI can digest complex financial data in contracts and payment terms and help teams track and invoice customers on time

Best for: Revenue and finance departments that have complex pricing strategies and large amounts of custom contract terms they need to track and invoice

Customers: Jasper, Stack Overflow, Chili Piper, Mailgun, Blue Ridge

Funding: $150M from Battery Ventures

Sequence

Sequence AI Billing Platform
Sequence is a revenue and billing platform for finance teams to automate the creation, billing, and invoicing of their custom contracts.

Use Cases: Revenue and finance teams use Sequence’s AI to move from manual data entry and follow-ups to automated contract creation and seamless billing

Best for: Finance teams who have complex financial data within contracts and creative billing structures. Finance professionals who want to have one single source of truth for revenue operations for better strategic decisions

Customers: Bridge, Primer, Incident.io, Hippocratic AI, Arch, Leya, Duffel, Kigen, Attention

Funding: £16.6M from Andreessen Horowitz, Fin Capital, Salesforce Ventures, 9Yards, Crew Capital

JustPaid

JustPaid AI Invoicing Platform
Justpaid is a billing and invoicing solution that helps finance teams improve collections.

Use Cases: Justpaid automates invoice generation, creates customizable billing rules, and proactively tracks and reminds customers before and after invoice dates through natural language processing and artificial intelligence

Best for: Finance teams who struggle with cash conversion and manual processes associated with revenue tracking and collection

Customers: Accountalent, Keyworksai, Roxy Realty

Funding: $4M from Y Combinator, Dropbox Ventures, Decacorn Capital, Rebel Fund

AI Accounts Payable Tools

AI accounts payable tools (AI AP Tools) are revolutionizing how businesses manage their invoices and payment flows. By automating many of the manual tasks involved in AP processes, these tools can significantly improve efficiency, accuracy, and control of payments and financial information in the company.

Brex

Brex AI AP Platform
Brex is a corporate card, banking, and bill pay solution for companies from early-stage startups to large enterprises.

Use Cases: Brex allows finance teams to centralize all expenses into one platform across the company and automatically generates expense reports and creates expense rules that are auto-enforced with their AI

Best for: Finance teams who want to consolidate banking and expense management software in one solution with granular controls and fast reimbursement cycles

Customers: Doordash, SeatGeek, Hex, Hims, Airtable, Compass, Fubo, Sonos, Flexport

Funding: $1.7B from Ribbit Capital, IVP, Greenoaks Capital, DST Global, Kleiner Perkins, Y Combinator

Ramp

Ramp AI Expense Management Platform
Ramp is an expense management solution with corporate cards, bill-pay, and procurement all in one platform.

Use Cases: Ramp automatically categorizes receipts and submits expense reports automatically to save finance team manual work. Invoices can similarly be processed through AI to be queued for payment and automatically reconciled

Best for: Finance teams who want to remove manual workflows from the payment processes and maintain a clean record of transactions that can be easily synced to accounting systems

Customers: Quora, Shopify, Webflow, Stripe, Zola, Anduril, Discord, Glossier, Eventbrite

Funding: $1.8B from Founders Fund, 8VC, Sequoia, Thrive Capital, D1 Capital Partners, Greylock, Lux Ventures

Jeeves

Jeeves Global AI Spend Platform
Jeeves is a global expense management platform with all-in-one payments for international companies.

Use Cases: Jeeves saves companies money by allowing them to manage global spending across counties and currencies through their multi-currency platform. Their AI can detect receipts across the world and help close books faster

Best for: International finance teams who need to manage expenses, corporate cards, and expense policies across different countries and currencies

Customers: Belvo, Kavak, Medstack, Auxe, Laika, Joyride, Blueground, Solent Plastics

Funding: $443M from Andreessen Horowitz, Tencent, CRV, SVB, Y Combinator

AI Treasury Tools

Managing treasury operations involves complex tasks such as cash forecasting, liquidity management, and risk mitigation. Traditional treasury management systems often lack the agility and insights required to navigate today's dynamic financial landscape. AI treasury tools leverage machine learning to analyze market trends, predict cash flow, and optimize financial management. This data-driven approach enables treasury teams to make more informed decisions, improve liquidity, and mitigate financial risks more effectively than ever before.

Nilus

Nilus AI Treasury Platform
Nilus is a treasury management solution for companies to control liquidity and cash movements across banks and currencies.

Use Cases: Treasury teams can manage cash positions in one place and use AI to help with bank reconciliations, risk management, as well as better predict cashflows

Best for: Treasury teams who have complex global operations and spend a lot of manual work to understand cash inflows and outflows

Customers: Yopto, Flare, Alloy, AtBay, Taboola, Planned Parenthood, Freightos

Funding: $18.6M in funding from Felicis, Bessemer, Vesey Venture, Better Tomorrow Ventures

Finley

Finley AI Debt Capital Management Platform
Finley is a debt capital management software provider for borrowers to automate due diligence and compliance of debt capital.

Use Cases: Finley can ingest credit agreements and extract data and information to help set up data verification and funding optimization for borrowers

Best for: Treasury teams who need to borrow large amounts of capital and need better ways of automating debt capital operations from funding to reporting

Customers: Ramp, Navan, Parafin, Channel, Valley

Funding: $20.1M in funding from Bain Capital Ventures, CRV, Nine Foud Ventures, Haystack, Upper90, Y Combinator

Conclusion

AI finance tools are revolutionizing the financial world, offering businesses of all sizes unprecedented opportunities for efficiency, accuracy, and strategic advantage. Modern corporate finance across departments are starting to leverage AI today and the tools they have at their disposition is allowing them to scale and operate differently than ever before. In an AI first world – working with AI finance tools that embrace this transformation and are built with native AI capabilities will differentiate the finance teams of the future and the finance teams of the past.

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