This partnership streamlines invoice collection and empowers SMEs to improve cash flow and maintain financial stability
Dubai, September 26, 2024 – Cloud software solutions provider Scope Solutions announced its strategic partnership with OCTA, a one-click invoice payment collection company, to address a critical challenge facing businesses in the UAE – late B2B invoice payments. This partnership offers a powerful solution to improve accounts receivable management by automating and humanizing the process of chasing unpaid invoices, ultimately helping SMEs enhance their financial health.
The collaboration was influenced by a shared focus, where both companies have been working to support SMEs in the region over the past year. The partnership will empower SMEs, transforming how they manage and collect payments. By integrating OCTA’s platform into existing systems, businesses can streamline their invoicing process, improve cash flow, and focus more on growing their business rather than chasing payments.
With the combined services from Scope Solutions and OCTA, SMEs will gain access to seamless integration with existing accounting tools. This will also support the businesses with finance options and effective debt recovery solutions such automated, yet personalised invoice follow-ups. Furthermore, this will also ensure reduced time spent on payment collection, allowing finance teams to focus on business growth.
Commenting on this announcement, Ayman Kaouri, Regional Director – Middle East, Scope Solutions, shares: “Late payments are a significant concern for SMEs in the UAE. In 2021 it was reported that 60% of B2B invoices in the UAE were paid late, generating severe cash flow concerns for enterprises. Our collaboration with OCTA enables businesses to handle their collections in an effective and smooth manner, providing a consistent strategy that ensures security for both enterprises and their client connections.”
SCOPE Solutions’ commitment to SMEs is strengthened by this collaboration, which recommends and implements OCTA as a comprehensive solution for collections that are integrated across numerous platforms. This partnership ensures that businesses will be able to preserve excellent consumer relationships while enhancing financial security and operational efficiency.
