https://thewest.com.au/business/perth-company-cirralto-launches-s...

https://thewest.com.au/business/perth-company-cirralto-launches-spendacollect-e-invoicing-software-ng-b881603714z

Perth company Cirralto launches SpendaCollect E-invoicing software

A payment platform that lets customers settle multiple invoices in one transaction could be a “game changer” for ending late payments, which cost small businesses billions of dollars each year.

West Leederville-based software company Cirralto on Thursday launched SpendaCollect, which tracks and processes all of a business’ invoices in the one place. The E-invoicing software is designed to stop inconsistent and error-prone practices of handling payments.

It is estimated more than 53 per cent of invoices are paid late by an average of 23 days, according to SpendaCollect, costing small businesses $7 billion a year. One in five invoices paid late is the wrong amount, while another 20 per cent are sent to the incorrect address.

SpendaCollect allows businesses to send E-invoices to customers who can group, track and batch-pay multiple invoices at once and receive only one digital receipt for the transactions.

Cirralto managing director Adrian Floate said being able to schedule all payments at once would be a “game changer” for thousands of Australian businesses that have to chase individual invoices.

“We get rid of that 40 per cent of times when people make mistakes and those mistakes are really obvious,” he said.

Mr Floate said the software had the ability to update the customer’s accounting system as well as the business’ when a payment is settled.
He said businesses using SpendaCollect would pay up to 1.75 per cent on transactions.