A quiet revolution is brewing in invoice finance businesses across the UK. Over the past five years, we’ve seen a surge in the number of lenders using Open Accounting to streamline their risk management, operations and borrower experience.
Lenders understand the power of Open Accounting. Greater efficiency; reduced risk; an improved borrower experience. It all sounds great. The problem is making it all happen. Most lenders have too much to do already. Adding a new type of Open Accounting-enabled product is not something many have time for.
For banks and lenders offering receivables finance products, our eSync product type combines the speed and simplicity of invoice discounting with factoring-level visibility and a streamlined borrower experience. This article is designed to help lenders and banks understand if eSync is right for them and their clients.
For lenders, Open Accounting technology lifts the lid on clients’ everyday financial data. Our new Insights system makes this data accessible and understandable for lending teams, enabling them to make better lending decisions and spot risks sooner when operating a wide range of ABL products.