JustPaid has launched a billing platform application programming interface (API) that helps businesses automatically track product usage and generate invoices.
It does so by uploading usage data through an API integration, the artificial intelligence (AI)-powered finance startup said in a Tuesday (April 9) press release.
“By enabling automatic data uploads and invoice generation, we’re helping businesses save time and focus on their core product instead of administrative tasks,” Anelya Grant, co-founder and chief product officer of JustPaid, said in the release.
With this API, JustPaid customers have a turnkey solution for usage-based billing, according to the release. The API can be integrated with a few lines of code.
Once integrated, customers can send event data to JustPaid servers, which is then used to track total usage and generate invoices with no manual intervention, the release said.
Users can create customer profiles, process payments and manage customer communications within their own systems, per the release.
“Feedback from our early testers was instrumental in adding features like this that enhance the customer experience,” Daniel Kivatinos, co-founder and CEO of JustPaid, said in the release.
JustPaid debuted its suite of AI-powered finance services in June after raising $3.5 million in seed funding.
The company said at the time that its suite of services included automated bill payment, contract validation and real-time AI financial auditing designed for small- to medium-sized businesses (SMBs).
In March, JustPaid added several accounts receivable (AR) and accounts payable (AP) reporting features to the platform, saying the reports will serve as a critical financial management tool for financial controllers, credit managers, sales managers, auditors and others.
The AR reports include AR aging, received payments, credit memos, revenue recognition, payment reconciliation and days to collect, the company said. The AP reports include AP aging, top 10 categories in spend and top 10 vendors in spend.
In another recent development in this space, billing platform Octane said in January that it joined payments processor Stripe to support a diverse range of pricing structures and allow companies to easily iterate on their pricing.
Octane was founded to build the billing structure to support consumption-based pricing and has seen growth in the use cases for that pricing structure.
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