Customers of the cloud-based business accounting software, FreeAgent, are about to experience more efficient payments. This improvement is due to a new partnership with bank payment company GoCardless. The collaboration is designed to offer faster, more efficient payments to FreeAgent’s small businesses, freelancers, and accountants.
At the core of this partnership is GoCardless’s Instant Bank Pay. This is an open banking-powered payment solution that allows for instant transactions. As a result, it significantly cuts down the time it takes for payments to clear. This, in turn, helps businesses maintain an accurate and current view of their financial position, which is crucial for strategic decision-making.
Moreover, the partnership introduces GoCardless’s Success+, an automatic payment retries tool. This feature is specifically designed to address payment failures, which can cause considerable disruption for small businesses. By automatically retrying payments that initially failed, Success+ can help businesses reduce the time and effort spent on chasing up failed payments.
Boosting Efficiency and Reducing Payment Failures
The expanded partnership between GoCardless and FreeAgent brings several benefits to businesses. For example, it enhances the efficiency of the payment process via the instant transaction capabilities of Instant Bank Pay. This allows businesses to access their money faster than ever, thereby improving cash flow.
Furthermore, the integration of Success+ could significantly reduce the occurrence of payment failures. This feature serves as a safety net for businesses, as it automatically retries failed payments. Consequently, businesses can avoid spending valuable time and resources on chasing up failed transactions. This allows them to focus on more strategic activities.
Lastly, the partnership enables seamless integration between FreeAgent’s accounting software and GoCardless’s payment solutions. This means businesses can manage their finances and payments in one place, avoiding the need to use multiple platforms. As a result, the FreeAgent and GoCardless partnership offers a comprehensive solution that meets both the payment and accounting needs of small businesses, freelancers, and accountants.
