Canadian fintech Nuvei Corporation (TSX:NVEI) today announced the launch of new Invoice Financing services integrated into several leading enterprise resource planning (ERP) platforms, including Sage and Acumatica.
This new service enables merchants to access Nuvei’s invoice financing solutions directly into their ERP systems to optimize cash flow and unlock working capital more efficiently.
Nuvei’s flagship accounts receivable automation suite is built to help clients manage and improve Days Sales Outstanding (DSO). The launch of invoice financing represents an off-balance sheet extension of this solution, providing new and existing customers with a high degree of certainty of same-day or next-day cash.
Invoice financing has emerged as a critical tool for businesses to scale as they seek innovative solutions to effectively manage their finances in a period of high interest rates. With one click, Nuvei’s Invoice Funding solution allows businesses to expedite payments from any customer invoiced through their ERP. Invoice financing from Nuvei ensures that businesses not only receive the cash they need immediately, but also benefit from uniquely favorable rates available from existing payment transaction data.
Key benefits and features of Nuvei’s comprehensive Invoice Finance services include:
- Immediate access to capital: Businesses can access cash within 24 hours by turning outstanding invoices into immediate working capital, enabling them to address immediate financial needs such as paying suppliers, covering operating expenses or capitalizing on time-sensitive business opportunities.
- Improved cash flow management: With one-click invoice financing seamlessly integrated into ERP, businesses can maintain a healthier cash flow by turning outstanding invoices into immediate working capital.
- Seamless integration with existing workflows: Loan and repayment general ledger (GL) entries are automatically reflected in the ERP system and associated with the financed invoice.
- The onboarding process includes frictionless onboarding and fast disbursement of funds within 24 hours of choosing to finance an invoice.
“Our mission is to bring our customers closer to their customers through our exclusive payment technology and solutions and enable them to accelerate their growth,” commented Philip Fayer, President and CEO of Nuvei. “By integrating Invoice Finance services with leading ERP platforms, we enable businesses to unlock financial flexibility and optimize their cash flow management, ultimately supporting their success in the ever-evolving business landscape.”