There is not a single company that enjoys waiting to get paid. Long payment terms are tough to manage; late payers are simply behaving badly. Both issues have a detrimental impact on cash flow.
Invoice finance, done well, can help businesses get paid almost immediately for the products or services they have delivered and invoiced, rather than waiting out the payment terms, hoping that their customer will honour them.
It’s a powerful concept, yet many don’t use it. Having studied the market, we think we know why – invoice finance has been made overly complicated, pricing is opaque at best and the application process can take days, sometimes weeks.
We’re changing that. We launched our proprietary platform exclusively with Xero earlier this year with simplicity, transparency and a seamless digital experience at the heart of our proposition. We go beyond market norms to encourage more small businesses to use this tool to optimise their cash flow.
Our integration with Xero is central to our proposition. You can onboard within minutes and we can give funding decisions in real time. Once on our platform, you raise your invoices within Xero, just as before, we automatically detect this and then for the customers we have agreed to fund, we pay 100% of the invoice value (not 70% or 80%) minus our fee within 24 hours.
There’s more. Our deep Xero integration means you will always know when your debtor pays us back and we’ll allocate that payment to your Xero account and offset your Hydr fee to an expense account of your choice, enabling a seamless reconciliation without you needing to do a thing.
Complex, opaque fee structures are not for us! Rather than subscriptions, listing fees, daily interest calculations and added credit insurance, we simply quote you a single, all-inclusive fee that is fair and fixed. We want you to know exactly what you will pay to receive 100% of the value of your invoice. Every invoice is credit insured and our fee will never change – even if your customer is late to pay.
In addition to our proprietary software and charging fair, fixed fees, we’re also human. We’re experts in lending and collections, it’s what we do every day. We want to be regarded as an extension of your finance team, as well as an extension of your Xero capability. Building strong relationships with your customers is as important to us as paying your invoice within 24 hours, so any concerns that invoice finance could negatively impact your customer relationships can be forgotten.
Maintaining a healthy cash flow is at the heart of any successful business. Every business has its own capital peaks and troughs which may need funding support. Rather than extending the company overdraft or applying for a loan, we suggest you consider the existing assets on your balance sheet – your invoices. When you do, get Hydr.