Grapple Unveils AI Tools for Invoice Finance as Funded Invoices Exceed $200M

Published about 1 month ago

Australian SME financier, Grapple, is introducing novel AI services and capabilities on its Lendtech platform, celebrating an impressive milestone of more than $200 million in funded invoices.

This technological enhancement coincides with Grapple’s record-breaking quarters throughout 2023 on its locally crafted and proven platform. In just the new fiscal year, the company has achieved a 115% surge in invoice finance facilities, with the primary growth seen in its core invoice financing services, Grapple Plus.

Grapple’s Digital Invoice Finance Platform Growth

Stephen Dawson, CEO and Founder of Grapple, attributes the platform’s robust growth to its superior functionality and seamless integration with other systems. The introduction of Grapple AI is set to bolster this performance further. The company has now decided to make its platform accessible to other lenders and banks to replicate similar product growth.

Introduction of GrappleAI - A ‘ChatAI Assistant’

Grapple stands out as the first invoice financier to introduce a ‘ChatAI Assistant’ in their platform, aiming to provide operational users with better information access, ease operational burden, and reduce risk. The AI-assistant, called ‘GrappleAI’, offers potential benefits for invoice financing:

  • Instant information access on various activities and information, including disapprovals, risk alerts, monitoring, verifications, and drawdown requests.
  • Answering clients and potential clients’ preliminary inquiries and questions about general business lending guidelines.
  • Understanding invoice financing-specific lending rules and guidelines, customisable for any bank or lender that licenses Grapple’s platform.
  • Chatting with the specific funding line rules inputted into the platform and ensuring users comply with these rules.
  • Providing insights into crucial areas such as economic, political, geographic, and social factors when reviewing the portfolio, product, or individual client assessments.

Integrating with Cloud Accounting Software, ERPs, and APIs

Stephen Dawson further emphasised the platform’s scalability and integration with commonly used cloud accounting software, ERPs, and various APIs to credit agencies, payment gateways, banks, and AML/KYC providers. The platform offers real-time and individualised reporting and tracking features, allowing clients and admins to have comprehensive visibility. The automated workflows, alert system, and rigorous reporting capability guide users through the entire process effortlessly and in a lower-risk environment.