Market Research Report on Notch Financial

Company Overview

• Name: Notch Financial

• Mission of the Company: To simplify the management of orders, invoices, and payments through automation, specifically tailored for the hospitality industry.

• Founded By: No information is available

• Key People:

• Jordan Huck - CEO

• Greg Donaldson - Chief Financial Officer

• Matt Lattanzio - Chief Revenue Officer

• Maggie Svilaric - Vice President, Customer Success

• Matt Cresswell - Vice President, Engineering

• Ivy Luu - Head of Payments

• Hamy Nguyen - Director, Product

• Mark MacLeod - Advisor

• Stacey Weisberg - Advisor

• Headquartered: 215 Spadina Ave., Toronto, ON M5V 1X9

• Number of Employees: No information is available

• Revenue of the Company: No information is available

• What is the Company Known For: Notch is known for accounts receivable and payable automation software suited specifically for hospitality, foodservice, and manufacturing industries.

Products

Overview

Notch provides a suite of products focused on automating financial transactions and data management for businesses, especially in the food and beverage, and hospitality industries.

Products Offered:

1. Payment Automation
2. Dual Sync
3. Bills & Invoice Management
4. Accounts Receivable & Payable Automation

High-Level Descriptions and Key Features:

Payment Automation

High-Level Description:
Streamlines the payments process, offering better rates, faster processing, time-saving automations, and secure transactions.

Key Features:

• Minimize late payments

• Embed payment links

• Move payments online

• Sync with accounting systems

• Accept Visa, Mastercard, Amex, EFT, PAD, and ACH payments

• Auto-update expired cards

• Schedule payments

• Securely store payment information (PCI compliant)

Dual Sync

High-Level Description:
Automatically updates your accounting and inventory systems from one integrated platform, reducing manual data entry and improving accuracy.

Key Features:

• Upload an invoice once, and sync with both accounting and inventory systems

• Automated line item entry

• Real-time updated COGS

• Integration with QuickBooks Online, NetSuite, Optimum Control, etc.

Bills & Invoice Management

High-Level Description:
Automates the processing of invoices, allowing businesses to manage bills and payments swiftly and accurately.

Key Features:

• Photo capture with OCR scanning for digital recordkeeping

• On-demand access to updated digital invoices

• Match items to GL codes automatically

• Schedule payments to ensure timely processing

• Store payment information securely

Accounts Receivable & Payable Automation

High-Level Description:
Automates the tracking and processing of receivables and payables to improve cash flow and reduce manual intervention.

Key Features:

• Scheduled pull payments

• Dunning automation

• Auto-send payment reminders

• Digital payment methods

• Statements of accounts on-demand

• Auto-sync with accounting systems like QuickBooks and NetSuite

Recent Developments

• New Products Launched:

• Payment Portals

• Description: Provides customers with an intuitive experience for managing payments including auto-pilot payments, on-demand billing records, and customization with company branding.

• Notch Payment Platform for Food and Beverage Industry

• New B2B Payments Platform

• New Features Added to Existing Products:

• Enhanced AR and AP management features

• Integration with additional accounting systems

• New Partnerships:

• Partnership with Rutter for expanding accounting integration offerings

• Strategic partnership with DigThisData for revolutionizing beverage industry technology

• Partnership with WISK.Ai to revolutionize restaurant operations

• Partnership with Fidelio for accounts receivable processes

• Partnership with Oliver & Bonacini Hospitality

• Key Personnel Changes:

• Brenden Lane joined as Chief Product Officer

• Ivy Luu joined as Head of Payments

• Funding:

• Announced $10M in funding led by Portage to aid in digitizing hospitality businesses operations

Conclusion

This research report on Notch Financial indicates the company's strong positioning in the market for automating accounts receivable and payable processes, particularly in the hospitality and food & beverage industries. With ongoing developments and strategic partnerships, Notch continues to expand their offerings and market reach.