According to figures from Intuit QuickBooks, “57% of UK small business owners have experienced problems with their cash flow”. Uncertainty after the Corona outbreak has left many small businesses concerned about what the next few months will bring, including whether they can expect a rise in late payments.
In a move to address this problem and tackle it head-on, Futrli, the award-winning cash flow software, has partnered with Hokodo, the pan-European insurtech, to provide SMEs with Invoice Protection. This partnership represents a significant step for Futrli’s small businesses, providing them with a simple and reliable way to take control of their cash flow.
UK and French businesses can now insure their invoices against the risks of non-payment. Once insured, businesses are guaranteed to receive at least 90% of the value of their invoices – even if their customers don’t pay. Users can select single or multiple invoices, and insure them against non-payment. With just a few clicks, users can protect themselves against uncertainty and transform the way they manage their cash flow – no contract no subscription, no hassles, no paperwork, and no intermediaries.
In addition, free credit checks are also available to Futrli customers, and their advisors and accountants, allowing them to assess risk as well as cover their invoices. Detailed credit scores will provide Futrli’s small business with new insights into their customers, helping them improve their credit decision-making and providing them with the confidence they need to trade safely.
With many accountants and advisors playing a key role in the growth and survival of small business, Invoice Protection and customer credit insights will enable them to further support their SME clients – helping them make the right strategic decisions to navigate the current environment and beyond.
Futrli provides support to over 50,000 small businesses globally, and over 1,500 advisors and accountants, and integrates with popular apps and tools, including Xero and QuickBooks. The addition of Hokodo’s API onto the Futrli platform makes invoice insurance and credit checks accessible to the thousands of SMEs who couldn’t access such services in the past.
Thanks to Futrli and Hokodo, SMEs can stop worrying about whether they’ll get paid, and have the peace of mind to focus on growing their businesses.