Link4 Australia has been named Fintech Business Start-Up of the Year for its cloud eInvoicing innovation, which has so far helped 1,000 Australian businesses improve their cash flow, with invoice payments being 22 days faster than the Australian average.
The awards, presented by Fintech Business with principal partner Thomson Reuters, recognise outstanding innovation and entrepreneurship in the Australian financial technology sector.
Link4’s cloud service reduces suppliers’ invoicing costs by up to 44 percent by delivering their invoices directly to their customers’ accounting systems. Cash flow is increased as invoices are paid faster – an average 9.6 days before the due date for those paying early. Customers send and receive invoices instantly, with built-in approvals to minimise manual bookkeeping errors.
Link4 CEO Robin Sands says the company is on track for capital raising and expansion into the UK and New Zealand markets.
“New Zealand’s Prime Minister Jacinda Ardern has thrown her support behind eInvoicing, agreeing to collaborate with the Australian Government to implement new eInvoicing initiatives,” Mr Sands said.
“She has estimated that even a 15 percent adoption of eInvoicing could deliver annual savings of around $500m in New Zealand and $3 billion in Australia.”
Link4’s service also aligns with Singapore’s plans to launch eInvoicing later this year (http://www.straitstimes.com/business/economy/parliament-singapore-to-launch-nationwide-e-invoicing-framework-for-businesses).
“We created Link4 to help small businesses become more efficient with their invoice processing using their current cloud accounting systems,” Mr Sands said. “Now we are well placed to deliver the simplest and most efficient eInvoicing solution for SMEs in the world.”
Presenting the award, Fintech Business judges said that Link4 had demonstrated a clear understanding of market dynamics and was ready to execute on a huge business opportunity.
About Link4 Australia:
Founded in Adelaide, Australia, in 2016 with backing from the entrepreneur-funded SouthStart Accelerator, Link4 specialises in electronic invoice delivery for small and medium businesses. The Link4 SaaS service is an Account Payables and Account Receivables automation solution that allow SMBs to exchange invoices and purchase bills instantly without requiring any software installation or long-term commitments.
Link4 - Seamless Invoice Delivery.