Invoiv.com has launched a cash management platform designed for small- to medium-sized businesses (SMBs) in the United States and Canada.
This software-as-a-service (SaaS) platform includes accounts payable (AP) and accounts receivable (AR) solutions together with online invoice generation tools with embedded payment links, the company said in a Tuesday (Aug. 13) press release.
“Our platform not only simplifies invoicing but also accelerates the payment process, ensuring that SMBs have the cash flow they need to grow and succeed,” Bill Cooper, founder of Invoiv.com, said in the release.
The platform is designed to integrate seamlessly with the user’s existing business workflows, to be easy to use and to provide the user with full visibility into cash flow via a dashboard, according to the release.
Its online invoice generation tools help businesses create and send professional invoices in minutes, and the embedded payment links in those invoices make it easy for customers to pay quickly and securely, the release said.
By leveraging these solutions, businesses can get paid up to five times faster, per the release.
“At Invoiv.com, we understand the challenges that SMBs face, especially when it comes to getting paid on time,” Cooper said in the release. “Our goal is to eliminate those pain points and provide a solution that’s both effective and affordable.”
SMBs are under pressure to modernize their financial operations at a time when inflation is pressuring margins and payment delays are becoming more common, according to the PYMNTS Intelligence and NCR Voyix collaboration, “The $150B Question: Can Community FIs Capture the SMB Digital Banking Opportunity?”
Seeking remedies for their cash flow pain, over 70% of SMBs are interested in comprehensive cash management services, and 90% demand seamless payment options, the report found.
In May, embedded payments technology company VoPay debuted a platform designed to help banks and credit unions launch “API-first transaction banking and cash management services.”
In April, French FinTech Payflows emerged from stealth and said it raised $26 million for its all-in-one platform for finance teams. The company said it “built a suite of procurement, payments, cash management and cash collection modules which are best-of-breed in their category and combined into an all-in-one platform.”
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