NorthOne Saves SMBs Time and Money with New Invoice Payment Solution
NEW YORK (PRWEB) June 19, 2023 -- NorthOne, a leading small business banking platform, today announced the launch of NorthOne Invoice Payments, an automated invoice payment solution that helps small businesses (SMBs) supercharge their cash flow management and save time.
NorthOne is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A., Member FDIC.
Trillions of dollars are paid between businesses each year, yet manual functions still dominate the back office. Most SMB owners use several different paid tools and spend as many as ten hours per week managing what should be a simple, straightforward process.
From transcribing payment details to tracking due dates, paying invoices is a time-consuming, hands-on, and error-prone process that wastes unnecessary time and money. NorthOne Invoice Payments aims to change that by enabling SMBs to do more with less.
“Most small business owners use a suite of tools to manage their accounts payable, many of them costly,” said Eytan Bensoussan, NorthOne co-founder and CEO. “By nesting this functionality within the NorthOne platform, we’re consolidating our customers’ tech stacks, saving them time, and keeping more money in their pockets every month.”
Bensoussan said NorthOne Invoice Payments was designed to be simple, intuitive, and easy to use. It leverages optical character recognition to extract information and enter payment details on customers’ behalf. All they need to do is forward the invoice to a dedicated email address, select a payment method, and send—without ever leaving their NorthOne app. Plus, payment scheduling features help owners fight cash crunches and optimize cash flow by keeping money in their accounts longer.
NorthOne Invoice Payments comes at no additional cost to customers and is just one of many time-saving tools offered by the platform. Other payment innovations like Real Time Payments and same-day ACH have already helped NorthOne customers save over 10, 000 hours in 2022 alone.* By automating and streamlining the entire accounts payable experience, NorthOne is removing the inefficiencies that hold SMBs back and unleashing their potential for growth.
“In this environment, the best thing we can do for our customers is reduce costs and free up time,” said Bensoussan. “We're excited to see the impact that NorthOne Invoice Payments will have, and we're committed to continuing to develop innovative tools and services that make a real difference for small businesses.”
For more information about NorthOne and its invoice payment solution, visit http://www.northone.com.
*Based on NorthOne user data
About NorthOne
NorthOne is a mobile app and web banking product delivering powerfully simple financial tools to small businesses across America. Founded in 2016 by Eytan Bensoussan and Justin Adler, NorthOne’s network of investors includes Battery Ventures, Don Griffith, Drew Brees, Ferst Capital Partners, FinTLV, Next Play Capital, Operator Stack, Redpoint Ventures, Ruby Ventures, Tencent, and Tom Williams. The company’s headquarters are located in New York City with satellite offices in San Francisco, Portland, and Toronto. To learn more, visit northone.com. NorthOne is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A., Member FDIC.
Carter Grieve, NorthOne, 1 3222059253, [email protected]
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