One of our clients is OC Partners, accountants based in Victoria’s Yarra Valley. It wants to get the word out there – the biggest killer of small businesses is lack of cashflow.
So last month it ran an event alongside Yarra Valley Business for small businesses in the region to share ideas around ‘building better cashflow’. It’s a topic we’re keen on here at IntegraPay, so we were very happy to join in.
Attended by over 50 small businesses, the event featured presentations from four companies – IntegraPay, Receipt-Bank, SmartAR, and Xero. These four companies offer solutions that are all complementary to each other, addressing different areas of the payments ecosystem.
The event was focused around Xero cloud accounting, and it outlined some of the add-ons that businesses can put in place to streamline administration and improve cashflow.
“It’s all about faster invoicing, getting paid quicker, and reducing paperwork,” explained the team at OC Partners. “Our four presenters gave some very practical advice on how to use modern technology and systems to free up their cash. Most small businesses are very time-poor, so the key to improving cashflow health is automation, and today this is readily-available and affordable thanks to cloud-based technology.”
“Small businesses can automate their administration – get paid faster, improve cash flow and then bring all the data back into their accounting solution quickly and easily. We were glad we could share such good insights with our local business community.”
Xero ran through the benefits of cloud accounting – being able to access anywhere with an internet connection is perfect for small businesses, and the choice of add-ons lets them find the right set of solutions for their needs.
Smart AR gave an overview of how it’s helping businesses with accounts receivable procedures through its debtor management solutions.
Receipt-Bank outlined how its cloud-based solutions enable businesses to share invoice and receipt data with their accountants and bookkeepers.
IntegraPay was represented by sales director Paul Richardson. He outlined the many benefits of automating invoice payments and reconciliation with IntegraPay’s add-on for Xero.
“This was a great opportunity to share ideas with such a broad range of businesses, who are all facing the same challenges,” said IntegraPay’s Paul Richardson. “Between all four companies, we were able to show them how the latest technology can help them. Our payments add-on for Xero can save a lot of time and money collecting payments, improve cash flow, and give their customers a convenient and wider choice of payment options. We’ve even reduced admin time further with the fastest and easiest Xero bank reconciliation around.”
Richardson added: “Automated payments always gets you paid faster, and with IntegraPay’s automatic direct debits for repeating invoices it’s even better – you get paid on time. Xero + IntegraPay makes this possible. Cloud accounting and automated payments are a powerful combination for small businesses looking to improve their cashflow.”
The business attending the event are mostly located in the Yarra Valley area and a few from across Melbourne. Various industry sectors attended; hospitality, winemaking, professional services, retail, and many from the construction sector. Cloud accounting is ideal for tradespeople, short of time, needing access on-site, and facing cashflow challenges.
And a final word from OC Partners: “Feedback from businesses attending the event so far has been excellent. Before this event, many of our attendees just weren’t aware of the payment services that could be added on to Xero. We’re glad we’ve been able to show them that how to avoid the cashflow killer.”