There is hardly a week goes by without an announcement for a new cross border payment tool easing the Accounts receivable task for UK SME’s. Worldpay for example, (see my recent LI article).
Similarly, the last five years have seen an explosion in disruptive finance start-ups “FinTechs” offering online Accounting tools, (Quickbooks & Xero etc), supply chain monitoring and invoice trading, (Market Invoice, Urica etc).
However, there isn’t a solution YET that enables an SME to receive an order, raise the supply chain finance, ship the order, raise invoice finance and track all accounts receivable and payable on one platform.
Whether an SME Importer, Exporter or Cross (border) Trader a properly managed supply chain can mean that you don’t use any of your money to fund a deal and can leverage up to 180 days of finance to simply walk away with a net profit.
Currently this is a “manual” process juggling 2 or 3 different Applications or Services.
However as per the article I can see signs that within the next 5 years a FinTech company will link this entire process together making the entire customer, supplier, finance and supply chain process far easier for SME’s allowing them to nimbly compete with their larger competitors.
Of course, if you’re buying stock and trading “speculatively” on eBay, Amazon, Ali Baba or any other eCommerce trading platform you don’t get the 180 days but there are still solutions available that can finance the supply chain up to 120 days.
Interesting, competitive yet opportunity abundant times.
If you are an importer, overseas exporter or cross trader trading with, within or via the UK and need finance to grow your business or close a deal contact my Firm for a free, no obligation chat about your options.