Thanks for the compliments!
We did have a demo with Spenda, however I had just upgraded our CRM systems, also had everything completely automated as far as HR and staff onboarding.
If I hadn’t just upgraded, I would have definitely jumped over as I seen some real advantages.
Given we don’t have massive invoices, (typically $200-$5000 for example each fortnight on average per client), and really a human resource business, so no products and innovatory to keep track of, we decided to stay with what we have.
I did look into the finance side of things, so being paid on time every time was really appealing, but given can manage this in-house, once again decided to stick with what we have and save a few dollars until this becomes something we need to revisit.
I believe Spenda is a game changer, however I see it being more for much larger companies, or for industries that have huge transaction volumes.
Why I can see why they target massive clients, also thinking about the best returns to include what the nodes and spokes will add in the way of returns.
I was very impressed by the system, but unfortunately just upgraded and rolling out any new system, just after a new system recently integrated, we didn’t want to stress out the staff:
However I was impressed that they already had a system blueprint for our industry that hasn’t even had a mention that date, which is let’s say the healthcare industry.
So I was grateful to be given the opportunity to try the system, even though I was not a particular client they would see as a big fish.
We turned well over 2mill in our first twelve months and predict to be doubling these figures minimum every year, given the first year was tough with setting up systems, procedures, policies and workforce, so possibly will Re-visit them in the future.
But the demo was proven to be an amazing time-cost effective beast for large organizations-franchises, or something like Agriculture, mining or the governments.
The only restraints I see, that no one is discussing, (including the FIGJAM”s, (BMX bandits), is how they will service these massive companies.
The current DW will not service anything larger than the likes of a CC, but Agriculture and Capricorn for example will need a massive DW!
So hopefully we see a plan on how this works shortly, given these two companies-sectors alone are obviously close to being onboarded.
One of the reasons we don’t see the DW drawn everything we have is because any of the new style of companies we are targeting would need a much bigger DW to service them.
So this is something I’m very interested to see just how they have planned to make this a reality, but to be mentioning that this has been in the pipe works for many months; amongst another 8-10 larger companies, they must have a plan and vision on how this comes together.
I’d imagine they needed to prove the effectiveness of the AI lending program, then with a workable successful blueprint
and the potential of CF+ from a few smaller clients and CC, (also a small fish, compared to what larger companies thus would really benefit), I see lending becomes much easier to secure.
Also given their amazing track record of all accounts being 100% paid in full, so the AI is obviously next level.
Then look at other lenders such as banks, After-pay etc who’s track record of lending is pitiful, with After-pay securing massive DW”s, yet can’t turn a profit and they are lending to individuals, (not large successful companies), who are borrowing for petty items, obviously because they already have poor saving habits.
So I’m sure they will have to reveal how this works shortly and the PayFac certification will definitely be a requirement that anyone they work with in, will see as another example of being a serious company now.
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