Payments automation platform FlexPoint has announced its public launch to help managed service providers (MSPs) with cash flow.
Founded last year, FlexPoint’s platform helps MSPs increase visibility into their cash flow and save time on manual processes, the company said in a news release Monday (Sept. 25).
“MSPs are the catalyst for digital transformation. Yet when it comes to payments, MSPs are stuck dealing with manual and time-consuming processes,” said Victor Lopez, Flexpoint’s co-founder and CEO.
“FlexPoint makes payments simple and cash flow easier to manage for MSPs and their business clients. We are excited to build a payments solution that MSPs and their business clients can trust,” Lopez added.
In addition to the launch, FlexPoint will also begin offering long-term financing through its platform, thanks to a partnership with GreatAmerica Financial Services.
“GreatAmerica has been serving the MSP community for over 30 years, providing financing solutions to differentiate, drive sales and improve customer retention,” said Corey Kerns, vice president and general manager of the connected technology group at GreatAmerica. “GreatAmerica is excited to work with FlexPoint to make it easier to offer financing. This will allow FlexPoint customers to seamlessly provide financing quotes in the 12-60 month ranges and submit credit applications.”
The launch comes as middle market firms — companies with annual revenues of $50 million up to $1 billion — are using working capital to finance growth projects and anticipated gaps, rather than cover unplanned cash flow shortfalls.
That’s according to Visa’s 2023-2024 Growth Corporates Working Capital Index, which includes research from PYMNTS Intelligence.
That data found that most middle markets chief financial officers used external working capital solutions for strategic growth purposes, while another 34% used it to handle expected cyclical shortfalls and seasonal gaps.
“Overall, 70% of all users saw improved business metrics as measured by lower days payable outstanding (DPO), lower cash conversion cycles and higher working capital ratio,” PYMNTS wrote last week. “These metrics can be used as measures of a firm’s liquidity and operational efficiency, and they reflect its capacity to meet payment obligations.”
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