We’re excited to have rolled out a new feature within CreditHQ, connecting data from a business’ accounting software with our credit data in order to analyse financial risk and suggested courses of action in order to get paid sooner.
In Beta Testing with a selected group of CreditHQ users is our integration with Xero, one of the world’s largest cloud accounting services.
CreditHQ’s cloud accounting integration brings invoice information and credit data on companies together to support small businesses make decisions on what action will reduce business risk and improve cash flow.
“Our aim is to support small businesses in making informed business decisions, so the integration of accounting data enables CreditHQ’s insight engine to make more tailored suggestions to reduce debt and its inbuilt tools to focus the limited administration time a business has into the areas that will have the biggest impact upon business performance” says Robert Drury, Head of Product at Ormsby Street, the company behind CreditHQ.
Subscribers can link their CreditHQ and online accounting packages to ensure that the financial situation of all their customers is monitored.
Companies that a business trades with can be matched to credit reports and have their credit and payment performance monitored, ensuring the business is aware of the latest finances of companies whose performance can affect their own.
A risk profile will indicate how much outstanding invoicing sits with high-risk businesses, highlighting which customers need chasing for payment and which need their credit terms adjusting.
The import of accounts receivable data will enable CreditHQ to analyse the invoices are at the greatest risk of non-payment and prompt businesses to take action in the areas that will have the largest impact.