Don’t wait to get paid Invoice finance with Hydr is a powerful tool to optimise cash flow
Co-founders Nicola and Hector discuss how Hydr goes beyond market norms to encourage more small businesses to consider invoice finance... This article is
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here is not a single company that enjoys waiting to get paid. Long payment terms are tough to manage; late payers are simply behaving badly. Both issues have a detrimental impact on cash flow. Invoice finance, done well, can help businesses get paid almost immediately for the products or services they have delivered and invoiced, rather than waiting out the payment terms, hoping that their customer will honour them.
Our integration with Xero is central to our proposition. You can onboard within minutes and we can give funding decisions in real time. Once on our platform, you raise your invoices within Xero, just as before, we automatically detect this and then for the customers we have agreed to fund, we pay 100% of the invoice value (not 70% or 80%)
Nicola Weedall, Co-founder, Hydr Nicola has a career in lending and invoice finance and Hector is a successful small business founder with first-hand experience of the challenges of managing long payment terms and late payments. Together they’ve built a best-in-class, proprietary invoice finance platform that is seamlessly integrated with Xero and helps small businesses optimise their cash flow. Hydr is proudly headquartered in the tech quarter of Manchester.
minus our fee within 24 hours. There’s more. Our deep Xero integration means you will always know when your debtor pays us back and we’ll allocate that payment to your Xero account and offset your Hydr fee to an expense account of your choice, enabling a seamless reconciliation without you needing to do a thing.
It’s a powerful concept, yet many don’t use it. Having studied the market, we think we know why – invoice finance has been made overly complicated, pricing is opaque at best and the application process can take days, sometimes is not a weeks.
There single company that enjoys waiting to get paid.
We’re changing that. We launched our proprietary platform exclusively with Xero earlier this year with simplicity, transparency and a seamless digital experience at the heart of our proposition. We go beyond market norms to encourage more small businesses to use this tool to optimise their cash flow.
22 / Issue 28
Nicola Weedall and Hector Macandrew, Cofounders, Hydr
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