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Nuvei Introduces An Invoice Financing Solution Linked With Leading ERP Systems

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A new service from Nuvei allows retailers to use its invoice financing options straight from their enterprise resource planning (ERP) platforms.

According to a press release issued by the company on Thursday, April 11, the solutions have been integrated into several top ERPs, such as Sage and Acumatica.

“By integrating our Invoice Financing services with leading ERP platforms, we’re empowering businesses to unlock financial flexibility and optimize their cash flow management, ultimately supporting their success in the ever-evolving business landscape,” Philip Fayer, chair and CEO at Nuvei, said in the release.

According to the press release, Nuvei’s Accounts Receivable Automation suite, which is intended to assist clients in managing and enhancing their days’ sales outstanding (DSO), is extended off-balance sheet by the Invoice Financing service.

According to the release, invoice financing improves cash flow with one-click financing integrated into an ERP system, allowing businesses to access cash within 24 hours by turning unpaid invoices into immediate working capital.

According to the release, because loan and repayment general ledger entries are automatically reflected in the ERP system and associated with the financed invoice, businesses can easily integrate this solution with their current workflows.

“Invoice Financing has emerged as a crucial tool for businesses to scale as they seek innovative solutions to manage their finances effectively during a period of high-interest rates,” the press release said. “With one click, Nuvei’s Invoice Financing solution enables businesses to expedite payments from any customer invoiced through their ERP.”

About two weeks have passed since Nuvei revealed that it has reached a $6.3 billion agreement with Advent International, a private equity firm, to become a private company.

When announcing the move on April 1, Fayer stated, “This transaction marks the beginning of an exciting new chapter for Nuvei. We are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides.”

Intuit QuickBooks announced in March that it had expanded the range of small business lending options accessible through its platform to include a line of credit offering, marking another recent introduction in this field.

Small businesses can obtain funding ranging from $1,000 to $50,000 through the QuickBooks Line of Credit, which they can utilize as needed.

Raeesa Sayyad
Published by
Raeesa Sayyad

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