Based in Montreal, Cashflow.io is a fintech software-as-a service (SaaS) that offers small-to-medium businesses with cloud based tools focused on business transactions as a whole, not just payments. After all, payment shouldn't be considered a solution but the benefit of a well executed business transaction. Today, we are a supplier's solution that helps account receivables. In the future, we will offer tools to help with payables and short-term financing. Cash flow in, and out.
With over a decade in the payment services industry, Ray is an innovative sales-oriented professional with extensive key account management experience. He is responsible for developing our business customer onboarding processes and strategic partnerships key to our growth strategy.
2018 - Start
In early 2018, we got started developing a user-friendly virtual terminal for accepting credit card payments. We successfully addressed known business customer pains and continued to listen. We quickly learned that business owners were happy to send payment requests with multiple payment methods, but tired of chasing late payments.
2019 - Late Payments
In 2019, we examined where the chase for late payments starts. The first obvious observation was that payment is always considered the last step of a business transaction. Big mistake! The second was that the disconnect begins after sending an invoice, a request for payment. The third was the existence of extended payment terms in an era where customers have an abundance of credit options. Why do suppliers have to extend an additional credit to their customers?! The stats show that 50% of all invoices are paid late and often up to 14 days later. The system is broken.
2020 - Forward
The conventional business culture to accept "a late payment is better than no payment at all” and “hold on to the cash as long as possible” is not going to change over night. We created flexible features that did not force business owners to do business differently, but rather a toolbox to do business any which way. We introduced eQuote, payment requests and pre-authorized debit tools. All these tools combined, results in unprecedented DATA & VISIBILITY into business transactions.
In partnership with lending partners, we will offer our business customers quick & easy access to more value added services and short-term financing options to boost our customer’s cash flow.