Introducing the Xero-InvoiceInterchange Partnership
A new Xero-InvoiceInterchange partnership is paving the way for small businesses to quickly and easily fund their growth; even when they are facing cash flow challenges.
Small Business Finance Just Got Easier
Businesses facing the perennial problem of waiting for their customers to pay can now access capital tied up in unpaid invoices; in just a few clicks thanks to our new Xero-InvoiceInterchange partnership. This partnership between a popular cloud accounting software provider and an invoice finance platform takes the form of an official app on the Xero Marketplace in Singapore, which gives small and medium enterprises (SMEs) the tools to easily apply for and manage finance, allowing them to access capital tied up in unpaid invoices, manage their cash flow and grow their business without ever leaving their software.
The app securely transfers the data InvoiceInterchange needs to assess an application for finance and then accounting entries for approved funds are generated in the business’s Xero account. All of this happens automatically, cutting out the manual work and allowing SMEs to focus on growing their businesses.
“The uncertainty that accompanies waiting for customer payments is a huge problem that SMEs deal with on a daily basis. This new integration allows Xero users to leverage their outstanding invoices to access immediate funds through InvoiceInterchange in real-time”, said Brian Teng, Co-founder and CEO of InvoiceInterchange.
Solutions to late payments
In Singapore, late payments make up more than 30% of all transactions while more than 50% of invoices are overdue. As a result, InvoiceInterchange’s cash flow solutions offer SMEs a quick and easy method of compensating for this. By releasing the working capital in unpaid invoices, InvoiceInterchange’s alternative finance products give SMEs the freedom to invest in growth activities and control over their cash flow.
The new Xero app provides a faster, more efficient finance application process. Therefore, SMEs will be able to draw down funds more quickly; and accounting entries will be automatically reconciled into their Xero accounting software.Get Started
InvoiceInterchange’s COO, Nalinee Chinowuthichai said, “We’re very excited to kick off this new partnership with Xero; a company like us, who wants to make accessing finance easier for businesses. InvoiceInterchange’s application process is already quick and easy. Moreover, our new integration with the Xero ecosystem builds on that by removing manual processes and paperwork, creating an automated financing pathway that ultimately puts more money directly into the hands of small businesses.”
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InvoiceInterchange is an online invoice financing marketplace platform that provides quick and easy working capital solutions to fund business growth; without restrictive security arrangements, hidden fees or minimum charges. Business owners are given complete control unlike with traditional sources of finance.
Businesses can learn more about the Xero-InvoiceInterchange partnership and take advantage of the new integration by clicking “Find out more” below.
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