New York-based CIT group introduced that its Treasury and Funds Providers enterprise is collaborating with B2B FinTech firm Fintainium to offer an built-in funds and monetary workflow administration answer to satisfy SMB wants.
The collaborative answer will leverage on CIT’s superior funds capabilities and Fintainium’s patent-pending cloud-based monetary workflow administration (AR/AP/Dynamic Negotiation) platform to enhance monetary workflow, growing administration visibility and reporting, and supply an impressive fee execution, enhancing cash-flow help for SMBs.
Considering the present challenges being confronted by SMBs, each the businesses will waive the primary three months of subscription charges for this new answer and also will waive integration charges for companies that enrol earlier than June 30. The collaboration goals to offer speedy cash circulation help for enterprise house owners to maintain revenue and develop their companies by the disaster.
“Successfully handling payments workflows is one of the biggest challenges that businesses face in this period of economic uncertainty. Our collaboration with Fintainium is the right answer at the right time for small and midsize businesses, and we are pleased to offer a digital tool to help them manage their business from any location,” stated Bob McElyea, managing director, Treasury and Cost Providers for CIT.
The brand new SaaS-based funds answer integrates with current accounting and ERP methods. It empowers companies to utilize Dynamic Negotiation to proactively supply expedited or prolonged fee phrases in exchange for reductions or premiums from their clients and suppliers, enhancing buyer and provider relationships.
“Managing cash flow is at the heart of every business and has never been more urgent than in these challenging business conditions. “The Fintainium™ platform facilitates a remote and mobile workforce, connecting all of a business’ reviewing and approving parties for seamless business continuity whether in the office or working from home,” stated Richard Jackman, CEO of Fintainium.
CIT is a nationwide financial institution centered on empowering companies and private savers. Its Treasury and Cost Providers enterprise offers treasury and liquidity administration and fee providers that optimize working capital for SMBs. Its options streamline and automate fee processes, decreasing fraud threat and enhancing liquidity administration.
Based in 2018, Fintainium platform permits billers and payers to regulate funds. It options covert legacy paper-based invoicing and fee processes to real-time digital methods, offering fast exchange of information whereas growing general productiveness and cash circulation. It gives end-to-end monetary know-how that permits companies to leverage and enhance current relationships.