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FINSYNC Simplifies Cash Flow Management for Startups as Network Made Free to Join

The transition from start-up to scale-up can often pose challenges for businesses. Looking to ease these difficulties, FINSYNC, Inc., the all-in-one platform that centralises the control of cash flow, has made its network free for bankers and other financial companies.

Of the roughly 32 million businesses in the United States, 78 per cent have only one employee. Less than one per cent have 26 employees or more. Over 80 per cent of companies that try to scale a business fail along the way as a result of poor cash flow management. The FINSYNC open network — with additional benefits like CollectEarly, the service allowing businesses to get paid weeks faster on invoices— can help streamline operations and fast-track payments.

By connecting to the FINSYNC open network, organisations can better manage their cash flow due to the network’s built-in charts, calendars and projections. Furthermore, they can connect with customers and vendors for faster payments, in addition to viewing all their bank and credit card accounts and transactions in one place. If the organisation needs help with banking, financing or payments, they can connect to their banker through to platform too.

“When it comes to success for businesses, relationships and networks are more important than ever,” said Tucker Mathis, CEO and founder of FINSYNC. “Our mission is to help businesses manage cash flow with less time and improved results by working with financial partners who use our software to deliver unmatched services. This no-charge approach will help our bank partners connect with more businesses in a way that will help them both scale more successfully.”

From a partner’s point of view

“At Fulton Bank, we are pleased to offer FINSYNC to our business customers,” said Michele Richards, EVP and director of commercial product and strategy at Fulton Bank, another FINSYNC partner. “Simplifying payroll, projects and accounting into one, complete solution for cash flow management has proven valuable for our customers. Continuing to help businesses get started and grow supports our mission of changing lives for the better.”

“Being able to connect with and empower local businesses in our community is core to who we are,” said Cathy Cooper, EVP and chief consumer banker at WaFd Bank, a FINSYNC partner. “Connecting with businesses for free and offering innovative solutions like CollectEarly are an important part of our own growth strategy moving forward.”

Caked Las Vegas case study

Ricky Gudino, the owner of Caked Las Vegas, was banking elsewhere before he met WaFd Bank personal banker Dianne Pasimiak, who connected with him through FINSYNC. Via CollectEarly, Pasimiak was able to help Gudino go from waiting weeks to get paid on invoices to just hours and move his deposit accounts to WaFd Bank, a testament to the power of FINSYNC’s open network.

“When I saw all my finances on FINSYNC’s platform, it gave me such peace of mind, and CollectEarly has been huge for the growth of our business,” Gudino said.

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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