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Trunk introduces software solution that's saving SMEs from bankruptcy.

BANKING AND CREDIT NEWS-September 17, 2015-Trunk introduces software solution that's saving SMEs from bankruptcy

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The Trunk start-up developer said it has released cloud-based software that enables entrepreneurs and small business owners to track their clients' time, their team's timesheet, automate invoicing to their customers, automate invoicing for their contractors and automate late payment chasing.

A January 2015 survey conducted by Sage in found one in ten SMEs are being crippled by cash flow and two-thirds of small businesses had to wait over 60 days for late payments.

Some businesses have turned to borrowing or selling off their invoices, or factoring as it is known, to alleviate the cash flow pressures. Company team lead R Curtis said, "This can be felt to create a negative feeling with clients, so some SMEs choose to battle on with cash flow issues. Some entrepreneurs have even told us they are ashamed to chase late payments and so don't. We felt that was crippling trade and so made sure we could help those business owners to chase debt without the pain or embarrassment."

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 17, 2015
Words:197
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