Here’s a great interview from Tearsheet with Kaz Nejatian, vice president and general manager of Shopify Financial Solutions. They cover how hard it is for small businesses to deal with banks today, and how embedded services make a huge difference. Also the first I have heard of Shopify Balance. Follow-on research led me to a two-part (one, two) deep-dive on how Shop Pay is core to the financial services strategy. And to complete the circuit, check out Shopify’s recent quarterly report.
Monit is a new tool for SMBs with approachable automatic forecasting and personalized insights. This is an opportunity for many embedded applications. The data is already there, it just needs to be consumable and actionable for users.
According to a survey of 300 financial managers, there is a correlation between suppliers sending paper invoices, and buyers paying late. Paper invoices are also tied to a higher rate of billing errors and disputes between buyers and suppliers.
No posts