A no-brainer for UK SMEs
Itsettled and tomato pay are uniquely positioned to address the late payment problem by combining tomato pay smart invoices with itsettled’s tried and tested cashflow & credit management platform.
Together, both companies will offer their SME customers a combination of tools that can fundamentally change the credit risk profile of these businesses and help them get paid on time. By starting upstream with tomato pay smart invoices, SMEs will have full control over the quote - contract - invoice process and give their debtors an easy and safe way to pay these invoices via link or embedded QR code.
If an SME is still waiting for payment on these invoices, they can seamlessly kick off the itsettled automated collections process in a few clicks. In the last 12 years, the itsettled system has helped over 1500 businesses and their accountants collect debt totalling £420 million. In total, the proprietary itsettled process has collected in excess of £3.5bn.
As an added benefit for SMEs already using the itsettled platform, they will soon be able to create and add tomato pay payment links directly to their existing invoices or in automated letters sent via itsettled. By presenting a debtor with tomato pay’s QR code to instant bank transfer flow, SMEs can be assured that the money they are owed will arrive in the correct bank account and in gross-real time.