ipaymy launches Automated Invoicing platform Fetch, for SMBs
By Gloria Methri
ipaymy, a B2B payments specialist, has launched Fetch—an 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. According to a report by Atradius, nearly 50% of invoices are paid late, resulting in a Day-Sales-Outstanding (DSO) now averaging 100 days. This prolonged payment cycle hampers cash flow operations, which can be detrimental in a global economy that is already suffering from rising interest rates and limited access to capital.
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. Its 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.
Furthermore, as SMEs broaden their global footprint, 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.
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 improve their cash flow predictability with its innovative incentive toolbox.
Ethan Dobson, CEO, ipaymy said, “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,
IBSi Daily News Analysis
February 28, 2024
Accounts Receivable Management
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