SaaStr has introduced an AI-powered VP of Finance named 10K that automates the entire deal closing and invoicing process, completing tasks within 60 seconds after contract signing. The AI agent handles contract status updates, invoicing, and customer queries during the busiest time of the year, according to saastr.com.
The AI VP of Finance was developed by integrating finance capabilities into 10K, the existing AI VP of Marketing, rather than creating a new agent. Once a contract is signed in PandaDoc, 10K reads and processes the document, updates Salesforce with the deal status, identifies signers, creates invoices in bill.com with accurate payment terms, and sends them to the appropriate accounts payable contacts. It also manages post-invoice customer communications through the accounts payable inbox without human intervention.
This automation addresses challenges SaaStr faced when its finance team was on vacation during the SaaStr AI Annual event, a peak period for collections and billing. By automating these workflows, SaaStr ensures timely revenue recognition and customer service. The AI VP of Finance exemplifies how AI can streamline revenue operations in SaaS companies, improving efficiency and reducing manual workload during critical business periods.
The AI VP of Finance now operates as SaaStr’s AI VP Revenue, handling end-to-end revenue processes with minimal human involvement. This deployment highlights a practical application of AI in finance, completing deal closure and invoicing tasks within minutes after contract signing.