Fintech Insider Podcast by 11:FS
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.
00:21:26 · David M. Brear, S3, Lauren Harvey
[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. [00:21:43] S3: Doing good business is about finding the space to do the stuff that you really care about. Some of that's about the financial space. It's about the cash. It's about having the visibility of when you're gonna get paid. Some of it's about the emotional space. It's the well-being. It's the sense of certainty and confidence that you're gonna get your money when when when you need it and when you expect it. When we think from a payments perspective about solving cash flow, we think about it almost like a car. These guys over here, they're the traffic cops. They don't want you to go too fast. They're gonna slow you down. They don't want you have... Having too much fun. These guys here, they're like a sat nav. They're marginally better than a map. [00:22:25] S0: There we speaking. You're damn right now. [00:22:27] S3: We could just use we could just use a map. We just use road signs. They work just as well, frankly. These guys down the end, they're like the spare tire. They're gonna get you home, maybe maybe get you to the maybe get you to the the garage, but they're not gonna get you all the way to your destination. [00:22:41] S7: That's like describing a doctor like Payments. [00:22:44] S3: Payments is the engine. Payments is what makes your car go.
00:22:44 · S3, David M. Brear, Pranav Sood
[00:22:44] S3: Payments is the engine. Payments is what makes your car go. [00:22:49] S0: Alright. With time to throw shade, let's move on to the next next one. [00:22:53] S10: I mean, that's a great analogy. Right? And I think pet... Kind of like petrol is also the payments bit. It's the fuel that goes into it that makes everything work. But when we work with businesses, I think, you know, the thing we see is people don't go back to run a bad business. And they're really conscious about being bad payers. Business owners hate being late with stuff like that. And the reason they're late is because they don't get money in quick enough. So when we work with a new business and we can chuck in GoCardless or another payment system, the game changes day one. It's immediate. It makes a massive difference. [00:23:21] S0: Okay. Speaking of late, I'm gonna have to cut you off there. Okay. So, next up we have team lending. So, you guys ready to give us your ninety seconds?
00:23:21 · David M. Brear, Anil Stocker, Lauren Harvey, Nikki Adams
[00:23:21] S0: Okay. Speaking of late, I'm gonna have to cut you off there. Okay. So, next up we have team lending. So, you guys ready to give us your ninety seconds? [00:23:30] S11: Absolutely. Alright. Go. So, everyone knows that cash flow is the biggest killer of businesses. It's the lifeblood of any business. And right now, in this uncertain time, having access to cash can give you the winning edge. And if you don't have access to cash flow or finance, then things are gonna get 10 x more difficult. And it used to be that businesses were scared of lending. It was difficult to go and get finance but now there are plethora of different fintech lenders out there, super easy to use, integrated, smart, easy that can provide the ignition to light up your business plan. So I would just say that ultimately revenue is vanity. Profit is is vanity as well. Is can it... Is is sanity and cash flow is the reality. So you have to focus on focus on your cash flow. [00:24:19] S7: Yep. So as Annie was saying, I... For us, you know, thanks to all these other areas, we're now able to have the right discussions that lead us to [00:24:28] S12: be able to help with lending. So we've [00:24:31] S7: got great forecasting in place. We've got great spend management in place, but with the innovation and the real where the value add is for an organization where we are the default place to go to have the discussions about moving forward by having the right lending in place.