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Platform Launch: SpendaCollect

Spenda
9 July - 3 min read

We’re excited to announce the launch of SpendaCollect. This payment platform enables customers to view and pay one or many outstanding invoices in a single payment transaction so businesses get paid on time and improve their cash flow.

The manual effort and associated costs of managing and reconciling accounts receivables is a huge productivity drain on most businesses.

53% of invoices in Australia are paid late, with 20% paid to the wrong account and another 20% the wrong amount entirely.

The SpendaCollect platform solves this problem by providing businesses with an online statement based payment service. We are making payments easier to control for the business and easier to pay for the customer. 

The company’s Managing Director, Adrian Floate, says What makes SpendaCollect unique is that paying customers can group and split invoices into a payment arrangement that suits their needs.

“Payments received through the SpendaCollect platform allow businesses to quickly and simply reconcile the inbound payments against the invoices within the platform without having to reconcile each payment against each invoice manually.”

“The combination of SpendaCollect and Spenda’s other payment services, such as SpendaPay, will provide both a considerable productivity boost and significant cost savings for customers.”

“Having worked with businesses for more than 20 years I know how much of a game-changer this will be,” he said.

SpendaCollect Savings Calculator

Use this calculator to estimate how much money you could save by using SpendaCollect.

This should be used as a generic guide only.

Product highlights:

  1. Digitises the payment process, eliminating double data entry and manual invoice creation.
  2. Provides customers the opportunity to group, track and batch-pay multiple invoices at once.
  3. A wide variety of payment options.
  4. Integration with small business accounting systems such as Xero, MYOB and QuickBooks Online, and ERP systems such as Microsoft Dynamics and SAP B1.
  5. Cardholder protection with strong incitation-based security.
  6. Automated customer payment reminders with direct payment links.
  7. Automatic allocation and reconciliation of payments into financial systems.

SpendaCollect will be launched initially within the Australian market with plans to expand the product to suit a global market.

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