Nuvei has launched a service that enables merchants to access its Invoice Financing solutions directly within their enterprise resource planning (ERP) systems.
With this service, the solutions have been integrated into several leading ERPs, including Sage and Acumatica, the company said in a Thursday (April 11) press release.
“By integrating our Invoice Financing services with leading ERP platforms, we’re empowering businesses to unlock financial flexibility and optimize their cash flow management, ultimately supporting their success in the ever-evolving business landscape,” Philip Fayer, chair and CEO at Nuvei, said in the release.
The Invoice Financing service represents an off-balance sheet extension of Nuvei’s Accounts Receivable Automation suite, which is designed to help customers manage and improve their days sales outstanding (DSO), according to the press release.
Invoice Financing enables businesses to access cash within 24 hours by converting outstanding invoices into immediate working capital, and enhance cash flow with one-click financing integrated into their ERP system, the release said.
Businesses can seamlessly integrate this solution with their existing workflows, because loan and repayment general ledger entries are automatically reflected in the ERP system and associated with the financed invoice, per the release.
“Invoice Financing has emerged as a crucial tool for businesses to scale as they seek innovative solutions to manage their finances effectively during a period of high interest rates,” the press release said. “With one click, Nuvei’s Invoice Financing solution enables businesses to expedite payments from any customer invoiced through their ERP.”
The launch of this service comes about two weeks after Nuvei announced a $6.3 billion deal with private equity firm Advent International in which Nuvei will become a private company.
“This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides,” Fayer said when announcing the move on April 1.
In another recent introduction in this space, Intuit QuickBooks said in March that it added a line of credit offering to the small business lending options available through its platform.
The QuickBooks Line of Credit enables small businesses to access funding from $1,000 to $50,000 and tap into the funding when and how they need it.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More