Spenda – helping businesses work smarter and get paid faster
Today, B2B trade faces a significant obstacle as many businesses continue to rely on disparate and unconnected software systems to handle different aspects of their operations. This leads to the formation of business silos and isolated systems, resulting in inefficiency and high costs. Traditional approaches to invoice management and payments also tend to be labour-intensive, time-consuming, and prone to errors.
Unfortunately, in Australia, nearly half of B2B invoices are consistently paid late. The shortcomings in existing processes, coupled with inefficient payment practices and delays in invoice settlement all contribute to cash flow challenges and jeopardise the longevity of businesses. This issue became the driving force behind Spenda’s inception.
By leveraging technology they developed over the past two decades, experienced tech entrepreneurs, Adrian Floate (Managing Director) and Dave Wood (Chief Product Officer), created the Spenda brand in 2015. The Company is guided by the mission to assist businesses in embracing digital transformation so they can enhance operational efficiency, accelerate payment processing, access accurate data, and facilitate improved cash flow.
By reducing payment friction throughout the entire supply chain, Spenda strives to empower businesses and foster their sustained growth.
Unlocking the power of digital transformation
In the current market landscape, digital transformation is no longer a mere option but a necessity for businesses aiming to maintain their competitiveness. It entails staying in sync with the latest trends, embracing change, and adopting new technologies that revolutionise everyday operations, boost team productivity, and improve cash flow.
By effectively being able to forecast cash inflows and outflows and optimise working capital, businesses can build their resilience and proactively safeguard themselves against economic adversity, while building stronger and more consistent growth.
Empowering businesses with the essential foundations
Spenda offers a comprehensive and integrated solution that seamlessly combines payment services and lending solutions within one connected platform, allowing businesses to streamline their financial operations. Spenda’s services go beyond the traditional roles of providing capital, processing payments, or offering business software, and instead, assist businesses in effectively managing the entire sales cycle, encompassing all the activities before and after a transaction takes place.
As a result, businesses gain access to a dynamic and real-time overview of their cash flow and yield significant cost-saving advantages by automating tasks like following up on overdue payments, generating quotes and invoices, and collecting payments. Moreover, their solution actively enhances cash flow for both trading partners, bolstering financial stability and sustainability.
Surpassing barriers to accelerate growth
The technology industry is well versed with the unpredictable nature of market fluctuations and economic uncertainties. For tech companies like Spenda, the ability to adapt to shifting market conditions, build trust among customers, and maintain stability amidst volatility is an ongoing challenge, but one they proactively approach.
To remain at the forefront of the industry, Spenda has made it a priority to develop robust, secure, and scalable solutions that align with customer demand, while placing significant emphasis on payment compliance and protection against the continually evolving landscape of cyber-security threats. And despite market-driven recruitment hurdles, the ability to attract and retain top-tier talent has become a critical facet of Spenda’s evolving journey, instrumental in driving them closer to their strategic objectives.
Looking ahead, the company remains committed to delivering innovative and intuitive technology that empower businesses to operate more intelligently, expedite payment cycles, and build strong cash flow and working capital reserves.
Website: www.spenda.co
LinkedIn: https://www.linkedin.com/company/spenda/
Twitter: https://twitter.com/GetSpenda
