Covid-19 has generated exceptional cash tensions, with agreements made every day to defer certain payments by one or two months, or sometimes longer. Faced with the challenge of late payment, private equity funds have found it hard to evaluate the impact of Covid-19 on their portfolio companies, with zero cashflow visibility due to the limited information available to them.
The economic damage is palpable, and Hyman Capital, a London-based boutique merchant bank, recognises the importance of moving quickly to avert cashflow problems in businesses where ‘Cash is King’. Hyman Capital, which provides transaction support and advisory services for businesses, has partnered with AI firm Sidetrade to support the cashflow challenges of its business clients and private equity contacts.
Clive Hyman, founder and CEO of Hyman Capital, said: More than ever, a strong cash management and a solid cash position are the top priority for businesses. In this context, Sidetrade is the ideal partner due to its leading AI technology and 20 years’ business experience of unlocking cash from working capital.
Sidetrade AI technology provides a dashboard of balance-sheet and cash-flow diagnostics that can be shared virtually over any confidential platform to help maintain oversight and focus on the most important levers. Mr Hyman continued: Having a cash culture is important for any company that a private equity investor has invested in, especially now. With Sidetrade, we’re enabling AI technology to assist private equity investors who want to optimise cash flow from their investee companies and secure a competitive edge for their portfolio.
Sunil Pandit, partner and alliance lead at Sidetrade said: Private equity funds want more visibility around working capital and how it’s financed. They need rapid assessment of risk and identification of cash levers. We are supporting these challenges by offering agility in the management of working capital in their portfolio companies. Unlocking cash is the cheapest source of finance to reduce borrowings. After taking initial actions to recover and stabilise their cashflow position, portfolio companies can focus on growth!
Sidetrade today announced it has launched its Cash Culture app on Salesforce AppExchange, empowering sales and customer service teams to resolve invoice disputes faster, and utilize a single source for customer payment cases within Salesforce. Cash Culture increases productivity and real-time collaboration between sales, delivery, and finance, leveraging customer financial data and machine learning powered by Sidetrade.
Built on the Salesforce Platform, Sidetrade Cash Culture is currently available on AppExchange.
Sidetrade Cash Culture app
The Cash Culture app introduces the management of customer financial cases within Salesforce. Cash Culture connects business and finance with streamlined communication and enhances real-time visibility of account information for a personalized customer experience.
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Rob Harvey, chief product officer at Sidetrade said: The swift resolution of disputes and discrepancies will save businesses time and cash, and importantly, create a high-quality customer experience when it comes to collecting payment. Cash Culture is an effective case management solution bringing a natural extension for collaboration between customers, finance and operations.
Sidetrade’s Cash Culture is a welcome addition to AppExchange, as it powers digital transformation for customers by enabling finance, sales and operations to more efficientl, said Woodson Martin, GM of Salesforce AppExchange. AppExchange is constantly evolving to enable our partners to build cutting-edge solutions to drive customer success.