As you may have noticed, last month we merged with e-Invoicing company Link4. While we’ve clued you all in about the merger, we haven’t had the chance to properly introduce Link4 to all of our Squirrelers yet.
So, here’s a brief introduction to Link4, e-Invoicing and what the future holds for our new joint entity:
Link4 is a cloud accounting software add-on allowing small and medium businesses to exchange invoices instantly, saving users time and money from the invoicing process. Currently based in Adelaide, they also have an office in Melbourne and now Sydney with us joining the team.
How did Link4 start?
Co-Founders Robin Sands and Sam Hassan were interviewing local businesses to see what their main pain points were. After a few interviews, they noticed a common issue that kept coming up – problems with invoicing. These small businesses were tired of all the data entry required to input their latest delivery invoice into their accounting system and thus, the idea for Link4 was born.
Similar to Squirrel Street, Link4’s aim is to help small businesses reduce the amount of manual data entry required in their day-to-day operations. Instead of online invoices and receipt management, however, Link4 allows suppliers to send invoices directly into their customer’s accounting system.
What is e-Invoicing I hear you ask?
Electronic Invoice delivery, otherwise known as e-Invoicing, is the exchange of an invoice between a supplier and a customer in an integrated electronic format. Now, you may think, “Hey, I already do this when I email customers a PDF invoice.” But in fact, e-Invoicing takes this one step further. True e-Invoicing simplifies the process for the suppliers as well as the customers and it does not rely on uploading PDFs, scanning documents, importing files or emails.
At the moment, e-Invoicing is really starting to take off in Australia with the government recently announcing they’ll be implementing it across government sectors. It’s a very exciting time to jump on board and now we can offer a smooth transition for businesses to adopt e-Invoicing.
Both Squirrel Street and Link4 can see that the future of invoicing is e-Invoicing, but we can also see that businesses still need to capture and process their receipts, invoices and other documents in the meantime. We can now provide a unique way for businesses to make the move to a fully automated process. We’re a full e-Invoicing solution for small businesses and not to mention the first of its kind!
So, how does Link4 work?
Once you’ve signed up to Link4 and connected your cloud accounting software, all you have to do is add your customers and suppliers (depending on your business) and the start exchanging e-Invoices with them. For customers, they can receive invoices from their suppliers directly into their accounting system. This means there’s no data entry required to input your invoices.
For suppliers, they can track the status of each of their invoices, which gives them a better indication of when they can expect to be paid. While Link4 is designed to make sending invoices seamless, it can also be used to get an overview of invoicing practices and even help to manage a business’ cash flow better.
Where to from here?
Link4 and Squirrel Street will remain as separate products and continue to operate as they normally do. However, there are exciting plans to integrate and innovate both of the two products more in the future.