Peter Langham, Scottish Pacific chief executive, said the new funding option for SMEs would increase the range of cash flow solutions that accountants can offer their business-owner clients.
The new offering, Mr Langham said, presents accountants with the opportunity to encourage those clients who may have had reservations about committing to a longer term arrangement, or having to sell all their invoices, the chance to "dip their toes in the water".
“The ability to select which invoices to submit for funding makes it easy for business owners to find out how invoice finance can improve their cash flow without having to commit every invoice," Mr Langham said.
Selective invoice finance is also an ideal solution for businesses that have fluctuations in their trading cycles at different times of the year, he added.
"This will be especially appealing to SMEs that have seasonal cash flow needs, giving them the ability to access additional working capital when they need it, without entering into a longer term commitment," Mr Langham said.
Are you thinking of expanding your offering into SMSFs to grow your client base? Become a pro at SMSF fundamentals and make your clients bulletproof with the SMSF Foundations course. Learn directly from Aaron Dunn from Smarter SMSF as he deep-dives into the fundamentals you need to know to successfully undertake your work as an SMSF practitioner. Earn up to 21 CPD hours! Learn more