How Hydr Enables Cash Flow Optimisation with Advanced Invoice Payment for SMEs
We all love cash! It’s the blood that flows through the veins of any company, regardless of what the company does or who its customers are. How that cash flows is critical to the success of your business – the better the cash flow, the more options you have in terms of growth and investment for the future.
The latest FSB Small Business Index (SBI) has reported that the UK’s late payment problem has worsened over the past year, predicting that 440,000 businesses could be forced to close doors in 2022 due to late payments alone. This reinforces the need for advanced invoice payment solutions that will enable businesses to optimise their cash flow and continue operations.
In the article we discussed how cash flow optimisation can be achieved, why you should use invoice payment solutions to optimise cash flow, and how Hydr’s solution will help you to achieve cash flow optimisation within your organisation.
How is cash flow optimisation achieved?
So, how do you optimise cash flow? Well, the answer is extremely simple – you get paid for the products or services you have delivered as soon as you have delivered them. Easy, right? Wrong!
Although cash flow optimisation is easy in theory, when we issue invoice payments after we have successfully delivered, it’s highly unlikely our customers will be so obliging (or willing) to pay on demand. You cannot force a customer to pay earlier than the terms you have agreed to on your invoice, so what do you do? This is where Hydr comes in with Advanced Invoice Payment – our new proposition.
Why use an invoice payment provider?
As an invoice payment provider, we are effectively paying you for your invoice. We take ownership of your invoice and work with your customers to collect payment from them, within the terms agreed. This means that by using our advance invoice payment solution, you are not extending your borrowings, but instead getting us to pay for invoices raised, helping to facilitate cash flow optimisation throughout your business.
Think about that for a moment; no extended overdraft, and no need to pay bills with credit cards because you are receiving the cash for your work within 24 hours of completing it.
How our advanced invoice payments enable cash flow optimisation
Hydr gives you 100% of the value of your invoices within 24 hours of you raising them, therefore you will receive payment for the invoice in advance of that invoice being due. For this, we charge a fee that is transparent, fairly priced and fixed. This means that on a per invoice basis, you know exactly how much our service is going to cost. No extras, no small print, just the funds for your invoice in your company account within 24 hours. Even if your customer is behind making payment, we will not increase the fee.
‘Advanced’ also refers to the software we have developed to give you access to our proposition. We have spent a great deal of care and attention developing proprietary algorithms that tell you quickly whether or not your company might be eligible for our service, whether or not we can work with your debtors, and precisely how much our service is going to cost. Our sign up process should take no more than 15 minutes, thanks to our class-leading user experience.
At Hydr, we understand that in our current economic circumstances, managing a company can be extremely challenging. By giving you 100% of the value of your invoices within 24 hours of you raising them, we firmly believe our proposition is going to be of great support to the SME community as everyone looks to shore up their balance sheets. We act as an extension of your finance function – giving you the cash for those well-earned invoices, and working in partnership with you and your customers to make sure they are paid on time.