Following this announcement, Exact and cooperative bank Rabobank are expected to provide entrepreneurs with working capital when the situation calls for it. With the use of the Invoice Financing solution, the partners will provide businesses with the possibility to access working capital by having invoices pre-financed.
In addition, with Exact’s integrated payment link, invoices and automatically sent reminders from Exact Online will be provided with a payment link, with which clients will be able to easily pay. With Invoice Financing, when businesses need capital, they can easily have their invoices pre-financed in order to have sufficient funds to meet the payment obligations.
According to the official press release, every year, Dutch SMEs miss out on big sums due to invoices that are paid late or never at all. On average, 29% of the invoices are paid after the due date, and in a few cases (4%), invoices are never paid, a process that has a major impact on the cash flow of entrepreneurs.
Throughout this partnership, users of Exact Online will have the possibility to easily start a request directly from the accounting system in order to have invoices pre-financed by Rabobank. Applications with a minimum of EUR 100.000 will be processed. During this process, the customers will immediately receive an indicative offer, after which the application can be submitted from the Exact Online service to Rabobank. In addition, after the final proposal has been approved by the application, the funds will be in the relevant bank account within 24 hours.
The software provider and cooperative bank aim to strengthen their common goal of offering entrepreneurs the financial flexibility that is needed in order to operate successfully and develop in a dynamic market. Furthermore, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
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