B2B finance and payment platform In order to facilitate the funding application process for small- to medium-sized enterprises (SMBs), Grapple and bookkeeping company My Accounts have partnered.
The two organizations, both of which are based in Sydney, Australia, are collaborating at a time when poor financial flow and excessive cash consumption are among the main reasons why enterprises fail.
According to the press announcement, “My Accounts and Grapple aim to eliminate these causes and enhance the volume of successful credit applications.” “Grapple will aim to enhance cash flow by raising working capital, while My Accounts will push improved record-keeping, which results in vital data becoming available for business owners and potential lenders.”
According to the statement, Grapple’s increased working capital and My Accounts’ comprehensive data will enable SMBs to develop new prospects in a responsible and open way to boost business growth.
In the press release, My Accounts Managing Partner Noel Tiufino said, “Small Australian firms frequently struggle to unleash their real potential simply by letting their financials fall behind.” He said that his organization will supply up-to-date financial data for evaluation alongside Grapple.
According to Grapple Founder and CEO Stephen Dawson, the alliance will also provide these applicants with continuous accounting help after they have received funding, ensuring that they have a solid base upon which to build.
The lengthy approvals, paperwork, and administration of the current financing procedures at the large institutions “remain frustrating for far too many SMBs and their accountants,” Dawson added.
The announcement comes shortly after Grapple introduced Grapple Pay and Grapple Now, two B2B payment systems intended to help SMBs improve their cash flow.
