Understanding the cash flow dilemma

Cash flow is the lifeblood of any enterprise, big or small.

It allows companies to pay their employees, cover operational costs, reinvest in growth, and more.

However, the delay between sending out an invoice and actually receiving the funds can often create an unsettling gap.

Playing this waiting game can be daunting, leading businesses to sometimes miss out on opportunities or face unnecessary financial strain.

Invoice financing is one solution to help small businesses overcome cashflow challenges.

How does invoice financing work?

Invoice financing is a quick and easy funding process to help businesses overcome cashflow problems.

Rather than waiting for your customers to pay their invoices, a third party pays you upfront for a small fee, so that you can focus on meeting your financial obligations and growing your business.

MYOB’s integration with Butn means you can access invoice financing, with funds in your account in as little as 24 hours.

“Butn is simple and easy to use and because it’s within MYOB, it’s quick to get started. Butn has definitely assisted my business. Payments were quick, and the service was personalised. Dealing with the same person every time really adds to the service.”

Tom – MYOB | BUTN Customer Tommy Hawkins Flooring

The Butn and MYOB integration

Integrating the MYOB business management platform directly with Butn addresses this widespread challenge.

Butn, which specialises in offering businesses swift access to working capital, bridges the gap between invoicing and having the necessary funds in hand.

This doesn’t just mean faster access to cash, but also a heightened level of confidence for businesses navigating the challenging waters of finance.

Why this is a game-changer:

1. Immediate Cash Flow Boost. As soon as a business sends out an invoice via MYOB, they can access the funds they’re owed through Butn. This cash injection can be a lifeline, particularly in industries where rapid turnaround is essential, or for small businesses that operate on tight margins.
2. Empowered Decision Making: When businesses have certainty about their finances, they make more informed, strategic decisions. Whether it’s making a new hire, investing in equipment, or jumping on a time-sensitive opportunity, having cash at the ready can make all the difference.
3. Enhanced Supplier Relationships: Quick payments can foster trust and goodwill with suppliers. When suppliers get paid faster, it reinforces a positive business relationship. This potentially leads to better terms or discounts in the future.
4. Reduced Stress and Uncertainty. One of the most significant stressors for business owners is financial uncertainty. Removing the ambiguity around when funds will be available means one less thing for business owners to lose sleep over.
5. Streamlined Operations. Integrating Butn with MYOB means that businesses can manage their finances and access funds all from one platform. This reduces the need for juggling multiple platforms, logins, or financial arrangements.
6. Selective Invoice funding. With selective invoice finance, you have the flexibility to choose which invoices or a specific set you want to factor. This means you can pick and choose the invoices you need to finance, leaving others untouched. It’s ideal for businesses that want to only factor invoices when necessary.

Expanding a new business ecosystem

For businesses, this integration isn’t just about faster cash flow; it’s a step towards a more modern, agile, and responsive financial ecosystem.

By providing businesses with the confidence that their finances are easily accessible, MYOB and Butn are fostering an environment where businesses can thrive, innovate, and grow without being bogged down by traditional financial constraints.

Rather than being at the mercy of extended payment terms or unpredictable clients, businesses now have immediate access to funds.

How to apply for invoice financing with Butn

1. Firstly, log into MYOB or your AccountRight browser and click on ‘Banking.’ From the dropdown menu, select ‘Loans and finance’.
2. Secondly, navigate to the Butn section, click ‘Set up invoice financing’ and follow the prompts to sign up with Butn.
3. Once approved, click the ‘Fund this invoice’ link on any eligible unpaid invoice.
4. Finally, get up to 100% of your invoice funded by Butn minus funding fees (subject to loan approval).

You can also click the ‘Fund this invoice with Butn’ link on your invoice to sign up.

Once you’ve signed up with Butn, you can finance as many invoices as you need.^

Start by watching the video below for a brief tutorial.

Want faster access to your own money? Log in and apply now

^Financing invoices with Butn is subject to your unique credit limit determined by Butn. For more conditions and a detailed pricing breakdown, refer to the Butn terms and conditions on the Butn website and the agreement between yourself and Butn.

MYOB is an investor in and has a paid partnership with Butn Limited (ACN 644 182 883) (Butn) for the provision of invoice financing services by Butn to MYOB customers. All applications are subject to approval in accordance with Butn’s onboarding criteria and onboarding process, including any agreement that is signed by you setting out terms and conditions between yourself and Butn. MYOB receives a flat fee plus a volume-based fee and bonus from Butn based on the net revenue Butn earns from MYOB customers using Butn services.