Viewpost Highlights the Challenges Plaguing American SMBs
Viewpost, the secure B2B network for electronic invoicing, payments and cash management, announced strong quarter-over-quarter growth, outpacing Q1’16 by as much as 1,120 percent.
The so-called quarter-over-quarter growth in registrations reached 354 percent in Q1’17, underscoring both market demand and appetite for a solution that removes friction from the invoicing and payment processes.
Payment volume grew by 324 percent. The total combined value of invoices and payments processed now spills over $76.6 billion.
“This is not only a reflection of Viewpost’s broad capabilities suited for American small and midsize businesses but also of the limitations inherent in any solution that doesn’t address the full complexity of the problem,” said Max Eliscu, CEO of Viewpost. “SMBs create two out of every three jobs annually, but fintechs have failed to deliver the comprehensive and interoperable tools needed for them to thrive. After years of industry indifference, Viewpost is democratizing the B2B ecosystem and seeing steep growth as a result.”
Hard set on changing the face of small business bill payment, Viewpost recently announced an exclusive U.S. partnership with Visa.
This alliance will foster financial institutions in the U.S. bring to market a tokenized and optimized SMB finance management solution that seamlessly integrates with their online banking site.
“Viewpost is continuing to prove that it is paving the way for a future of B2B commerce that is frictionless. This year’s growth provides an example for companies to aspire to and work towards,” said Rob Enderle, Principal Analyst at Enderle Group. “I’ve been impressed with the bank partners and customers the team has brought on board and am looking forward to seeing more.”
“We’re happy that our bank introduced us to Viewpost last year,” said Michael Jarquin, CEO of the California-based Quinox Ventures Holding Company. “Since joining Viewpost, we’ve moved our invoicing and payments online and connected to 59 of our customers and suppliers. Now we have on-demand access—at home, after hours and on the weekend—to information about when we’ll be paid and how much we owe. Plus, we use Viewpost’s free integration software to send data to and from QuickBooks, saving us the hassle of hand-keying receivables and payables every week.”
“I can’t believe how much time we used to waste and how much money we used to spend trying to keep up with paying our suppliers on time,” said Karl Ermatinger, CEO of the Michigan-based Industrial Control Services. “With Viewpost, we’ve automated payments, integrated our QuickBooks invoice and payments data, given our suppliers an easy way to know when they’ll be paid without calling or emailing us, and dramatically cut the cost of doing all of it. We’re running smarter and smoother as a result.”