Fintech Insider Podcast by 11:FS
00:41:59 · David M. Brear, Pranav Sood, Ben Johnson, Carlo Gualandri, Anil Stocker, S3
[00:41:59] S0: Alright. Thank you team spending. Alright. Team payments, you got two minutes to wrap up. [00:42:03] S10: Cool. So obviously, we've got four really important elements here. Part of the thing with running a small business is you face a huge amount of uncertainty, so you need the planning piece and you need the other bits to help you through. But none of it works if you don't have that lifeblood coming in, the cash coming in, the ability to manage it and control it. I think anyone who owns a business knows, and I've I've been through this myself, having switched on GoCardless in my own business about four or five years ago, that first time I saw those payments automatically drip into my bank account. No phone calls, no emails to chase, none of that stuff that causes stress and... [00:42:33] S0: I mean, the the love in this team is real. Oh, I know. It's absolutely... Mean, we've a chance. Genuine. [00:42:38] S2: It really is. [00:42:38] S10: But, you [00:42:39] S0: know, you you threaten [00:42:40] S10: that breakdown of relationship as soon as you have to chase people. Having that certainty and that control in your hands rather than relying on something else or, you know, a forecast where you're guessing what's happening, you've got real certainty there of what's gonna happen. That's when kind of life suddenly gets easier as a business owner. [00:42:56] S8: Cool. [00:42:57] S11: I agree with all that. [00:42:59] S3: I think Done. [00:42:59] S0: I'll move on. Lesson. I've got
00:42:59 · David M. Brear, S3, S5
[00:42:59] S0: I'll move on. Lesson. I've got [00:43:00] S3: I've got one more thing to say, is agree with Jonathan. All of these parts are important to being a successful small business owner, frankly, business owner of of any size. But the question we're trying to answer here is what's the most valuable aspect of cash flow to SMEs? So the question I wanna ask you guys in the audience is this, which is if you could only do one of these four things, which one would you do? You only do spend management. Cool. Do you have a business? No. You only do lending? Do you have a business? No. You only do forecasting? You've got some nice charts. Do you have a business? No. [00:43:33] S5: Charts. [00:43:34] S3: You only do payments. You've got a business. You're a business owner. Congratulations. [00:43:39] S0: Wow. [00:43:40] S3: That's all I wanna say. Somebody always makes it a semantic argument, don't they? There's always that one guy and it's this guy, but... [00:43:47] S0: Yes. Interesting. Alright. Thank you very much team payments. So team forecasting, what... You've got one minute each. You ready to go? Yeah. Alright. Go.
00:43:47 · David M. Brear, Nikki Adams, Lauren Harvey, Carlo Gualandri
[00:43:47] S0: Yes. Interesting. Alright. Thank you very much team payments. So team forecasting, what... You've got one minute each. You ready to go? Yeah. Alright. Go. [00:43:57] S12: So I think the thing is, as I said before, you know, a business owner, a lot has been discussed today about education. And the talking point and the central focus is the forecast. You can't have a conversation with your clients. You don't really know what to focus on unless you've done a forecast. It is a difficult concept for small business to understand. So when you look at the growth curve we looked at this morning, I think that gap is because business owners don't understand the the impact. And the only way we can really educate them is to have a forecast and then explain how cash impacts in their forecast and what if scenarios. [00:44:33] S0: Okay. [00:44:33] S7: None of [00:44:34] S12: you guys can do what if scenarios. [00:44:35] S8: It's true.
00:44:35 · Carlo Gualandri, S5, David M. Brear
[00:44:35] S8: It's true. [00:44:36] S5: I don't know what about these chart things are. It's all the pretty charts. It's not pretty charts. It's about taking data, whether it's financial or nonfinancial. It's about use... Using the best in AI and machine learning to predict forward. It's about putting a human element to that as well because we're not psychic. I wish we were, you know, but we're not. And about overlaying the assumptions of the business simply about taking absolutely what that business needs to know and presenting it in a prioritized action feed that says these are the things that you need to focus on. The things they need to focus on may then be one of our kind friends here, but they will never get the business until we've told them that they need it in the first place. I rest my case. [00:45:18] S0: Thank you very much. Team forecasting, team lending, your closing arguments, please.
00:45:18 · David M. Brear, Anil Stocker
[00:45:18] S0: Thank you very much. Team forecasting, team lending, your closing arguments, please. [00:45:23] S11: So, we started market finance because we wanted to help people, companies that wanted to raise money, get the cash they need to fill their ambitions. And we all know, imagine you're sitting and you've got your team, your startup team, and you're doing... You've got a great product and Amazon, you're selling on Amazon, making a lot of profit, but you know that Amazon is gonna take you ninety days to pay you. Right? Someone comes in and says, we can... It's okay. We know people... We can pay people. That's okay. While cash flow forecasting, we can see that we have a hole. But there's only one thing that can fill the hole while you're waiting to be paid by Amazon and you wanna do other stuff with that money and that's working capital. That's cash flow. That's what finance can do for your business. We wanna solve that frustration when you're looking at the plan and you don't know how to get the cash to to solve what you wanna do. We're there to help you. And I think that's the most important thing that we can achieve.
00:46:12 · Lauren Harvey, David M. Brear, S3
[00:46:12] S7: Yeah. As as accountants, it's great. You know, we love businesses. We love tech increasingly, and we've taken advantage of all these lovely other teams that we're up against tonight. And then for us as a business, what are we doing now? What's the answer next? You know, the so what? Well, it's... I found this gap or this isn't gonna work quite as I thought. What do I do about it? Do I go and speak to a traditional bank manager? Do I go and talk to somebody else? Or seen as you know me so well, can you help me with this? And you know what? Yeah. Now we can. And that for us has just been... I never trained to do this, but it's so great that we're now doing it. [00:46:50] S0: Fantastic. Okay. So now you guys are sort of in charge, really. I think it sort of comes out. I think we've heard pretty good arguments, I think you'll say, from from each of these these camps. But what I wanna do is get a round of applause for everybody. Give everybody a round of applause. [00:47:12] S7: That [00:47:14] S0: was just so I knew that you could. [00:47:16] S3: So that's good.