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- ipaymy unveils Fetch, an innovative, automated invoicing platform that redefines account receivables management for SMEs
- Fetch's incentive toolbox empowers SMEs to strategically deploy flexible payment terms, encouraging early repayment while minimising ageing or unpaid invoices
- SMEs can effortlessly offer a diverse suite of payment options, from cards to cryptocurrencies, at competitive rates
SINGAPORE, Jan. 15, 2024 /PRNewswire/ -- ipaymy, a leading fintech specialising in B2B payments, has announced the launch of Fetch—a groundbreaking invoicing platform designed to empower SMEs to get paid faster and on-time in Singapore, Hong Kong SAR, Malaysia and Australia.
Grappling with timely invoice payments poses a formidable challenge for SMEs across Asia. Nearly 50% of invoices are paid late, resulting in a Day-Sales-Outstanding (DSO) now averaging 100 days, according to a report by Atradius. This prolonged payment cycle significantly hampers cash flow operations, which can be detrimental in a global economy where rising interest rates and limited access to capital compound the issue.
To help SMEs overcome these hurdles and improve cash flow, Fetch reimagines the entire accounts receivable function by simplifying and automating the process from end-to-end. Fetch's technology profiles customers to propose a selection of payment tactics via an incentive toolbox, increasing the probability of on-time payments.
Through its ease of use and automation, Fetch helps SMEs reclaim valuable time and resources when it comes to generating invoices and following up on payment. By transforming this traditionally manual process, SMEs can focus on what matters most—driving growth.
Furthermore, as SMEs broaden their global footprint, with 61% seeking global suppliers according to Mastercard, there is a need to accommodate international payment preferences. With Fetch, SMEs can extend to diverse payment options such as cards and cryptocurrency without additional infrastructure investment, enhancing credibility and competitiveness.
With no subscription fees or complex contracts, Fetch is a cost-effective and hassle-free option for SMEs to digitally transform their receivables management processes and significantly improve their cash flow predictability with its innovative incentive toolbox.
Key features of Fetch include:
- Simplified and automated receivables management: Create, send, and track invoices to unlimited clients, complete with automated payment reminders and late fee notifications.
- More payment options, no setup required: Besides bank transfer and cash, enable your customers to pay via cards or cryptocurrency without additional setup.
- Achieve timely payments with Fetch's incentive toolbox: Leverage dynamic discounts to encourage early payments, or allow customers to pay in instalments.
- Industry-competitive rates and fast settlement: Compared with leading alternatives, Fetch is a cost-effective method for smaller businesses to become card and crypto-accepting merchants earlier, all the while allowing you to achieve settlement as fast as the next business day.
"Fetch is a force multiplier that gets invoices paid using a level of technology that has not been available to small businesses before. Designed to alleviate the challenges faced in collecting payments, it empowers SMEs to build better relationships with their customers while considerably improving cash flow." – Ethan Dobson, CEO, ipaymy
About ipaymy
ipaymy is a Singapore fintech specialising in B2B payments optimisation. Our proprietary technology eliminates the need for supplier card acceptance, enabling organisations to use their commercial cards to pay non-card accepting suppliers and other business expenses where cards are traditionally not accepted. Find out how thousands of businesses in Singapore, Hong Kong SAR, Malaysia, and Australia, leverage ipaymy to optimise their accounts payables and receivables by visiting www.ipaymy.com.
source: ipaymy
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