Let’s fix cashflow, together.
Our platform comprises class-leading technology backed up with a human service, all for a fee that is fair and fixed.
How Hydr can help your practice
As a trusted advisor to your clients, you will often be the first to notice a problem, and cash flow is one of the most serious that any business can face. Invoice finance – done well – is a powerful instrument to optimise your clients’ cash flow and to save their time when the provider is managing collections.
At Hydr we have gone further: our proprietary software platform enables seamless reconciliation within Xero, bringing you the insight you need to give trusted advice and saving you a great deal of time too!
- 43% of SMEs spend roughly £4.4 billion in administrative costs alone chasing late payments
- 34% of SME business owners who experience late payments rely on overdrafts to help them meet their monthly obligations
- 11% of SMEs struggling with overdue invoices are forced to employ someone to chase up payments
- It is estimated that 68% of SMEs have adopted cloud accounting software, with that number expected to increase over the coming year
Our fees are transparent and fixed
The Hydr difference
Hydr was launched in June ’21 to offer an invoice finance proposition designed specifically for our SME community that is straightforward, digital, transparent and, above all, fair.
Recognising that whole turnover agreements are not always appropriate on the one hand, and that a client may want more than spot factoring on the other, we have developed Selective Debtor Finance, the proposition that gives your clients the ability to choose the debtors on their ledger they would like funded. Subject to underwriting, that is exactly what we do.
- Fixed means just that – we do not change our fees, even if the debtor is a little late in making payment
- Signup and account management is completely digital (with signup taking around 30 minutes)
- We integrate with Xero, Quickbooks, FreeAgent and Sage Business Cloud
- We are the first to automate reconciliation for clients using Xero (we are also a Connected App)
- We are a disclosed product, managing credit control of the funded debtors on your clients’ behalf
- We fund 100% of the value of invoices for fees that are fixed and fairly priced
- We do not take a charge or directors’ guarantee
- The customer receives the balance of the invoice value minus our fixed fee in as little as 24 hours from raising it
Automated reconciliation with Xero
Reconciling invoices funded by Hydr with your cloud accounting software Hydr has pioneered the capability to automatically reconcile your Xero account when Hydr pays the invoice to you (minus our fixed fee). Hydr also has the ability to enable you to post the fee to a chosen expense account.
Class-leading, seamless integration
Although we are now compatible with the major cloud accounting software packages on the market, our relationship with Xero accounting software, the global small business platform, is one of our most valued partnerships. Our platform was developed with Xero, and Xero was our launch partner. By linking your accounting software to the Hydr platform, we can fund your clients invoices in as little as 24 hours. Not only that, but we have built a class-leading, seamless integration from the moment you raise an invoice to reconciliation..
Reconciling invoices funded by Hydr with your cloud accounting software
Hydr has developed the capability to record within your cloud accounting software when Hydr funds an invoice, to post the Hydr fee into a chosen expense account and to reconcile once Hydr is paid the value of the invoice by your funded debtor.
We are currently able to do this for customers using Xero – we are working to develop the same functionality for our other software partners.
In order to activate automated reconciliation, follow the following steps:
Signing up takes minutes, is completely free and secure: take back control of your cashflow!
Getting Started with Reconciling invoices
1. Getting Started
Log in to your customer portal and click the icon to the right of your email address to be taken to My Account.
2. Enable Bank Feeds
Click ‘Enable Bank Feeds.’ This gives us access to a deeper level of functionality within your cloud accounting.
Select the expense account into which you want to report the Hydr fee
This option is available on the customer dashboard – you can switch it on or off at any time.
Once you have set up the functionality and Hydr has paid an invoice, we post the statement to your cloud accounting software to reflect the transaction between Hydr and you, which reconciles in your cloud account. Invoices should now be marked as paid and the fees will be recorded in your nominated expense account.
Reconciling Transactions
After we post the statement, you will can reconcile all transactions at a click of your mouse! Opposite, we show what this looks like within Xero.
We take pride in what our customers think
Having selective invoice finance available through a great partner like Hydr allows us work on projects that would previously have been detrimental to cashflow, especially when we’re working on capital intensive projects that often come with long payment terms.
Our customers have given us great feedback about dealing directly with Hydr. In fact one is so impressed that we are proactively optimising our working capital that they now consider us to be more robust and resilient as a supplier, and we are winning more work from them!
If you are looking for a convenient way to improve your cash flow I can’t think of a more convenient service than Hydr. Having tried more traditional invoice factoring, Hydr provides a less onerous alternative with an easy to use interface, simple set up and minimal bureaucracy, all backed up with friendly customer service. Hydr also effectively outsources your debtor collection making it the go to solution for SME finance requirements.
Having the Hydr team manage this for me has been a game-changer. I can now spend my time on my jobs and growing the business, which is what I have always wanted to do. There’s no going back – Hydr is here to stay.
The fact that Hydr also works with our clients to manage payment has saved us a great deal of time, with no change in our relationship with them. In fact, they really like the Hydr team and some are even paying a little sooner. It’s a fantastic product to use, our team and our customers love working with the guys at Hydr.
I looked for a service like Hydr when I needed cashflow support for those contracts which have longer payment terms. It can be quite intimidating to apply for invoice finance when you haven’t done it before, but now I have done it through Hydr, I’m kicking myself for not doing it 12 months ago! The level of customer service is second to none, the portal is easy to use, it’s a great platform
I can’t thank Hydr enough – we raise our invoices and within 24 hours we get our payments, which enable us to build our business. For any company, no matter how big or small, if people are taking longer to pay I would highly recommend Hydr.
Hydr is like having a safety net, knowing that you have cash coming in quickly when some invoices can take up to 60 days to clear. Having Hydr in my corner means that I know when I raise the next invoice, I will be paid quickly and will be able to afford the ingredients for the next batch of orders.
I can’t thank Hydr enough – we raise our invoices and within 24 hours we get our payments, which enable us to build our business. For any company, no matter how big or small, if people are taking longer to pay I would highly recommend Hydr.
Hydr + Xero: There from the start
We could not have wished for a better launch partner than Xero. Once you have connected your Xero account to the Hydr platform, simply continue raising your invoices through Xero and we’ll pick them up and pay them within 24 hours.
We go further and deeper in our Xero integration – not only will we pick up invoices of your chosen customers without you having to enter the data onto our platform, but reconciliation is seamless as well, making sure you are always aware of what has been funded, paid and when.
Xero is world-leading online accounting software built for small business.
- Get a real-time view of your cashflow. Log in anytime, anywhere on your Mac, PC, tablet or phone to get a real-time view of your cash flow. It’s small business accounting software that’s simple, smart and occasionally magical
- Run your business on the go. Use our mobile app to reconcile, send invoices, or create expense claims – from anywhere
- Get paid faster with online invoicing. Send online invoices to your customers – and get updated when they’re opened
- Reconcile in seconds. Xero imports and categorises your latest bank transactions. Just click ok to reconcile.
By clicking the “Create Account!” button you’ll start the sign-up process. This is in four steps and takes around 15 minutes, but, we’ll tell you in around 2 minutes the debtors that can be funded and – critically – the fees we will charge! In order to complete it in one sitting, you will need your Xero account details, either a current driver’s licence or passport and the details of your company bank account. If you don’t have all of this to hand, no problem: when you log back on to complete onboarding, we’ll take you back to where you left off.
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