The Bright Side of Artificial Intelligence
The CFO is ascending. Earlier this year, Fortune reported that in the first half of 2022, 8.1% of CFOs at Fortune 500 and S&P 500 companies were promoted to CEO up from 5.6% a decade earlier. The jump reflects how business success and financial agility have become inseparable.
This week we’re excited to announce new features that help businesses grow revenue, streamline the back office, and improve insights and decision-making.
1. More visibility into Metafi-originated emails
Revenue recovery is a key part of how Stripe Billing maximizes revenue: we use machine learning to retry failed recurring payments at the optimal time, based on hundreds of dynamic signals. Our Smart Retries algorithm continuously gets better, and we’ve improved the recovery rate by 15.5% in 2023.
2. New Revenue Recognition features
One of the best ways for businesses to grow revenue is to enter new markets, but they’re often stymied by the tax complexity that comes with it. We built Stripe Tax to solve that problem. Businesses can sell cross-border, and Tax takes care of tax collection for them, automatically. Now, Tax just got better, with support for 10 new countries (bringing the total number of countries supported to 50, including all of the EU).
2. Deeper Salesforce integration
Revenue recovery is a key part of how Stripe Billing maximizes revenue: we use machine learning to retry failed recurring payments at the optimal time, based on hundreds of dynamic signals. Our Smart Retries algorithm continuously gets better, and we’ve improved the recovery rate by 15.5% in 2023.
Deliveroo has recovered more than £100 million in revenue with Billing’s revenue recovery features. “The work Stripe has done to improve payment success rates, from the use of Stripe Billing to rapidly enabling Deliveroo Plus, makes it clear why Stripe is embedded in some of our largest initiatives,” said Will Shu, cofounder and CEO of Deliveroo.
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