June 2023 Newsletter

Welcome back to the ZTLment newsletter! A lot has happened on our end since last month, so let’s dig into our top learnings, finance workflow tips and accomplishments in June!

1. Finance automation isn’t just relevant for companies at scale, but is also necessary to scale operations in the first place

A point we’ve been pushing in our conversations with customers lately has been that even for startups, cutting the time spent manually paying out vendors, collecting pay-ins and so on is paramount if they want to be able to scale their go-to-market.

Why? Because when you free up your team from manual and tedious work, they get more time to focus on strategic initiatives that help you scale your company.

2. Creating, approving and executing split payments in seconds

If you didn’t get a chance to see Stefan’s or Harry’s post on how quickly you can create a payment, go through a 4-eyes approval flow and then execute an unlimited amount of payments with ZTLment, you missed out!

Check out the links above to see them execute 5 payments in under 30 seconds with our smart “Drag-and-drop” CSV feature.

3. Our CTO, Jason Spasovski, featured in academic research on using blockchain to improve trust in transnational invoicing systems

Each year, a considerable amount of value-added tax (VAT) goes uncollected, estimated to be approximately 1.5-2% of the GDP of the entire EU zone, which equates to an astounding EUR 151.5 billion!

And thus, Peter Eklund FACS CP, Lasse Herskind, and Jason Spasovski and Jonas Sveistrup Søgaard set out to investigate whether a blockchain-based platform could effectively handle information exchange (including invoices) between trading actors within the EU. Read more here!

4. Our COO, Harry, on how finance teams can use smart contracts to automate payouts

“Basically, smart contracts take ANY data trigger from your own cloud back-end (see the diagram) to trigger a payout from your accounts to your customers / suppliers.

Just some examples:

🎧 Listens on a podcast, ⏬ Downloads of an app, 💰 Loan approved, 📜 Invoice received, 🚛 Goods delivered”

Read more about triggers and smart contract payout automation here!