I speak to our wonderful customers every day. I love to hear the stories of how they’re growing their businesses and how excited they are that Waddle can help them achieve their ambitions.
We work with an enormous range of companies. They include an Indian food distributor, a bottled water company, a craft brewery and a tree surgery business. We even have a client who works with local councils to organise community skateboarding events!
One thing that all of them have in common though is they’d much rather be doing what they do best – running their business – than they would be doing financial admin. Quite often they’re small businesses with just a small team, so managing the books is a task that would fall to the business owner. Our platform cuts all of that hard work.
So, what is it that they love about our platform?
It’s super quick and efficient!
During the application and onboarding process, I’ll call them to introduce myself and the feedback I get is usually how easy our platform is to use.
For instance, there is a wizard which guides them through set-up and helps them get started (known internally at Waddle as 'SQ’s wizard™', after the engineering wizard by whom it was created).
From the application to when they can actually draw down, it can be as quick as a day.
The cloud accounting sync make admin easy
We have a lot of small businesses, where they are running things on their own or with a very small team. The fact that Waddle connects to the accounting platform they're already using means that their admin is kept to a minimum. They don’t have to supply us with any paperwork. We don’t need to call them. Everything is done in the dashboard. They can focus on their business – that’s what they’re best at.
With traditional invoice finance facilities, the bookkeeping can take a day a week or more. They don’t want to be doing admin, they want to be growing their business. With those other providers, their customers are gaining something (funding) but they're also losing something as well (time). With Waddle, it's super easy to manage, they don’t really need to do anything. They just draw down funds.
They love the draw down process!
Talking of drawing down funds, it couldn't be easier. All they need to do is click a button! The funds will appear in their account the same day, or if not overnight or by close of business. And that’s all they really need to do. Often, they'll select which customers to finance during the account set-up, so from then on the only thing they need to do is draw down.
We have clients who go in every day - those who manage their books closely - but it just needs to be a minute or two in the morning. It certainly doesn't take a day a week.
If you’re not using it, it doesn’t cost anything
Our customers don’t really have to worry too much about their facility if they’re not using it, as we won’t charge them any fees. They can forget about it for part of the year when they don’t need it. Traditional invoice finance facilities usually have a monthly fee. You're paying for it but getting nothing out of it. So, when they don’t use it, they’re in negative for that particular month.
This really helps if their business is seasonal. For example, we have a sunscreen client, who would be likely to use the facility at the start of the summer when they may be experiencing cash flow issues. At this time, they’ve just fulfilled orders to retailers, but are waiting for maybe up to 60 days for invoices to be paid.
They love our support staff!
I’m not being biased, am I? We maintain a consistent relationship with them. They pick up the phone and it’s always going to be us. To start with they’ll speak to Mick – and then it’ll be me.
And we really value their feedback on how they’re using the platform. If we need any improvement or enhancements, we listen to them. For example, we have some business owners who use the platform on the road, and they've suggested some improvements on how the platform is viewed on mobile. Our engineers are working on that right now.