Fintech Insider Podcast by 11:FS
00:13:56 · Ben Johnson, David M. Brear, S3, S5
[00:13:56] S2: It does. And I think the wonderful thing about the zero customer base, so we've got half a million subscribers here in The UK that are already actively engaging with fintech and apps through our API. Actually, introducing new technology to our customers is already pushing on an open door. We're really excited through phase one of research and prototyping is actually talking to the 10,000 accounting partners we work with and the half a million customers we work with saying, does this resonate? Is this kind of the right situation to introduce working capital to you or is kind of... Is it a bit odd in context? Once we figure that out and we think iWalk is a great partner to help us do that, we know that we've got 800 plus apps in our ecosystem that can help contribute at the right point in the workflow or the lifecycle. So where we're at right now to answer your question is using the resources of the BCR funding via our Walker to really understand where is the most effective place within Xero to introduce working capital Yeah. Similar to how we've done with with payments and and open banking as well. So... [00:15:01] S0: No. It makes huge amounts of sense. Congratulations. Glad glad to hear it's going so well and look forward to seeing how it develops more. So thanks so [00:15:08] S3: much for joining us. [00:15:09] S2: Thanks, David. [00:15:09] S5: Pleasure. All
00:15:09 · S5, David M. Brear, Carlo Gualandri, Nilan Peiris
[00:15:09] S5: Pleasure. All [00:15:13] S0: right, folks. So now we're gonna get into the debate bit. We're gonna get into this sort of the the the sort of loving argument as it were. It's it's gonna be really interesting. We've got a a group of people who are super passionate about the subject matter in terms of what they're doing. So it's gonna be fantastic to see how they sort of plan this out. So what we're gonna be doing on the Effingham debate is really looking at again what is the most important element when it comes to cash flows to SMEs. You're about to witness four teams of two, so each representing one cash flow stage in an SME lifetime. So what we're gonna be doing is they're all... Each of them are gonna be going head to head for the debate and we have those four teams which are spending, payments, lending, and forecasting. And which one of these is most important when it comes to actually managing cash flow as a as an SME. So if you please welcome to the stage all of the contestant... I'm gonna get very game show hosty, I think, on this one. I feel it coming out in me already. So if you welcome to the stage, so we have team spending. So we have Carlo who is the CEO of Soldo. Give everybody a round of applause. We also have Frankie who is from Farnell Park. How's it going, guys? [00:16:29] S8: Hello. Great. Thank you. [00:16:31] S0: How's it going? I mean, I don't really have to ask you where you're from with those jumpers. It's... Yeah. It's it's very good. [00:16:36] S1: We are aligned.
00:16:36 · Nilan Peiris, David M. Brear, Frankie Kay, S3, Lauren Harvey, Carlo Gualandri
[00:16:36] S1: We are aligned. [00:16:37] S0: Loving the swag. Okay. Next up, we have team payments. So this is Pranav Sudh who is from... Is the VP of international expansion at GoCardless. We also have Jonathan Barham, who is the director and cofounder at Radium. How's it going, guys? [00:16:55] S9: You me? Yeah. [00:16:55] S0: Yeah. Good luck, guys. [00:16:56] S3: How are [00:16:56] S0: you? Good. I mean, I love the swag again. Like, it's like the... Like, really make... You're setting a high bar for whoever the third one is with all three... All two of you so far. So alright. Team lending, we have Anil Stoker who is the CEO of Market Invoice as well as Lauren Harvey who is the founding director at Full Stop. [00:17:15] S7: Yes. [00:17:18] S0: You too. Let's go. Hey. I mean, slightly understated market invoice swag. I'm not gonna lie. Like, after this, this was a... It's a high bar, but well done. And last, we have team forecasting. So we have Hannah Dawson, CEO and founder at Frucily, and Nikki Adams, director at Adveram. Yeah. I've always wanted to be a game show host, but I've never had the hair for it. You know, like, I feel this is my moment. Okay? Okay. Welcome teams. [00:17:56] S8: I don't [00:17:56] S0: know why I'm camping this up so much. It's a it's a very strange thing that I'm doing. Okay. Hope you guys are feeling pretty pumped about this. You're all ready to sort of battle your sides. You all know what you're arguing for and against essentially. Yeah? All good to go? [00:18:11] S3: Yeah.
00:18:11 · S3, David M. Brear, Lauren Harvey
[00:18:11] S3: Yeah. [00:18:11] S0: We are. You're feeling pumped on the the argument? I know you are. You've been hugging up before. So this is how it's going to go. Alright? We'll kick off with ninety seconds opening debate from each of the four teams. So that's forty five seconds per person. I presume you worked out who's going first, who's going. It's... This is essentially battle raps. Okay. For accounting things, which I think is gonna be an interesting format to see how this works. So after that initial opening debate, I'll open to the floor in terms of debate is to to basically argue amongst you... Amongst yourselves in terms of countering what the other people have said. Then you guys, from an audience participation perspective, have the have the ability to ask any questions that you want to and be brutal. You know? This is gonna be hilarious. The more brutal you guys are, the more... So get another drink right now. It will make it much more entertaining I think for everybody who comes up. And then the teams can give their summing up arguments and then it's over to you guys as the audience to basically decide with a round of applause when I go through the teams which one wins. Are we clear? You clear what you're doing? Can you explain it to me? Yes. Any volunteers to explain it to me? [00:19:23] S7: Helen. [00:19:23] S0: Okay. We'll we'll go with it. Alright. Teams, are you guys ready? [00:19:26] S3: Yes. Ready.
00:19:26 · S3, David M. Brear, Frankie Kay, Lara Gilman, Carlo Gualandri
[00:19:26] S3: Yes. Ready. [00:19:27] S0: So audience, are you guys ready? Alright. Cool. So so the opening question for the debate. Yeah. So what is the most important in terms of resolving cash flow and how does this benefit SMEs over other life stages? So team spending. So Carlo, Frankie [00:19:45] S9: Yeah. [00:19:46] S0: You guys are up first. Right? Give us your pitch. Go for it. Are we ready with the time? Because I'm gonna be I'm gonna be like really strict Can we look at [00:19:54] S6: it? Time. [00:19:56] S8: Yeah. Yeah. [00:19:56] S0: The timing starts now. [00:19:58] S8: Will start as a contrarian on one thing, [00:20:01] S3: just to challenge the challenge. [00:20:03] S8: And that's how could you say that that breathing is more important than eating or drinking. Let's just say that without us as a full stack, a company will die, Just in a different way. [00:20:15] S0: Wait. Is is showboating allowed? Showboating is allowed. It's good. [00:20:18] S8: Having said that, of course, I can only say one thing. It takes money to make money. You have to spend money to do your business, to bring in over and to do things. So without knowing where your money is going, well, you typically end up in a very tight spot. And that's why having control of your spending means two things. On one hand, enabling spending without which you don't do anything in a business. So you don't go very far. On the other hand, without knowing your spending, well, sometimes you end up opening the drawer with nothing on it and that's a very tight spot. [00:20:56] S0: Alright. Pass the mic.
00:20:56 · David M. Brear, Frankie Kay
[00:20:56] S0: Alright. Pass the mic. [00:20:57] S9: Cool. Spend management, that's something that exists from day one all the way through the life cycle of a company. And for accountants, education is the most important thing from day one and it will change. So day one is, how do I claim VAT back? What am I allowed to put through your company? Day... Year five is, I need a purchase order system. I need some security. I need to know how my employees are spending my money. Education all the way through your life cycle. Without control, you are nothing. [00:21:26] S0: Okay. Strong finish there. That was good. Love love the... Like, there was, like, fear... Like, fire in those eyes. To you guys specifically. So we'll move to you now. So... Okay. So on to team payments then. So you've got your ninety seconds. Ready? Look, producer Laura? Alright. Go.