Posted by Link4 Team on 15/12/2020
There is so much happening in our community at the moment, and supporting each other in these times has never been more important. Xccelerate2020, a program from the Commonwealth Bank Australia (CBA) created for supporting entrepreneurs and their innovative ideas, had a theme this year for helping small to medium-sized enterprises (SMEs) bounce back from the impacts of coronavirus.
Being a business built around supporting SMEs to manage their financial processes and technology, the theme of Xcelerate2020 fits well with our values and goals, as we give SMEs a way to seamlessly transfer invoices electronically. This gave us an opportunity to be a part of such a great program and grow awareness of Link4 further to reach smaller businesses that could benefit from using eInvoicing as part of their transaction processes.
Among us in the Xccelerate2020 program, were many valuable start-ups that share a similar vision, which made it so much more beneficial to be a part of the program. The judges from Xccelerate2020 were overwhelmed with the value each of the start-ups had and decided to extend their support to not just one but four different businesses.
Link4 was among the four that were recognised as a service that can help businesses recover quicker from COVID-19. Link4 is continuing to work with X15 Ventures, a wholly-owned subsidiary of CBA dedicated to supporting digital innovators. Working closely with the mentors has provided great guidance on how to engage with the CBA while also focusing on how to support their business customers to recover from the global pandemic.
Xccelerate2020, not only supported us, but exposure from the awards announcement has led to new SMEs learning about our offering and joining up to use our eInvoicing service.
This is why it is important for SMEs! Most entrepreneurs and small businesses come across a common issue, that of sending and/or receiving invoices. Traditionally, sending an invoice would require a printed copy to be posted to the receiver or emailing a PDF – both of which can be tedious and take time to process. On average, it costs around $40 in Australia to send a traditional invoice and $30 to receive one, an expense that most SMEs do not consider in their financial planning. Our service will help SMEs deal with these challenges better and cut their invoicing costs by around 80%.