It is an unfortunate truism that many start-ups fail because they don’t pay attention to the cash-flow.
Big organisations can reconcile their outflows and inflows daily, even hourly. Small companies couldn’t until New Zealand software company Xero came up with a package that connects a company’s accounts to its bank and to its payments system allowing the monitoring of cash-flow in real-time.
The Xero system has attracted investment from the legendary Peter Thiel, co-founder of Paypal with Elon Musk, and the model for the wildly eccentric billionaire Richard Gregory in the TV series Silicon Valley.
Total investment in the fast-growing Xero now tops NZ$230 million. Worldwide there are 475,000 users of Xero’s package.
Now Xero has linked with Swedish mobile payments start-up iZettle which enables small businesses to make and receive credit card payments via mobile devices.
IZettle gives away its card reader which plugs into your phone, tablet or laptop. It processed $2.3 billion worth of transactions last year.
The iZettle-Xero integration allows credit card transactions to be recorded instantly in the accounts of a business keeping it constantly on top of its cash-flow.
Xero is good at this kind of integration, recently hooking up with with Formitize, a company which provides and automatically populates forms for a vast number of business functions
from News http://ift.tt/1ckskXE
via Yuichun
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