Fintech Insider Podcast by 11:FS
00:39:50 · S5, Carlo Gualandri, David M. Brear, Frankie Kay
[00:39:50] S5: Okay. [00:39:50] S8: Oh, come on. So, yeah. About us. As we said, as as payment or let's say, more in general, any kind of spend or even more in general, any kind of process handling money and the information about money. This is just the beginning. What we're building is the next step. It's... If you think what has been the greatest level of innovation, It's not the greatest level of innovation what we've seen so far. That's not even started the movie. It's just the, you know, the trailers before the movie starts. What's gonna happen is a blend between the bank and the information about the bank. Something that has been separated at birth originally by the difference between a regulated business being a banker and the information technology business. The information about this thing. And and between these two world, there is a huge gap filled with manual labor in the McOffice. [00:40:49] S0: Nice. [00:40:50] S8: No help at all. So that's that's the future. What we're building is something... [00:40:54] S9: It's my turn. [00:40:55] S0: It's your turn. [00:40:56] S8: That's what we're building. And that's that's... [00:41:00] S0: Building a platform for everybody. [00:41:02] S8: Yeah. And and we're proud to be infrastructure. Somebody said that that's just infrastructure. Yes. We will... We wanna be the infrastructure. And in any stack, you build things on top of the infrastructure. Yeah. Great. Go on. Give me [00:41:14] S0: twenty seconds. Yeah. I'll give me twenty seconds.
00:41:14 · David M. Brear, Frankie Kay
[00:41:14] S0: twenty seconds. Yeah. I'll give me twenty seconds. [00:41:16] S9: Spend management is something that as accountants, we can educate our clients on. It's something... Accountants are weirdly obsessed with what our clients buy. That means we're talking to them. We're educating them. If they don't understand it, they are going down the toilet because they will spend all their money that they don't have. They need to understand the pattern and the growth of their company and how to flex their spending. The software and tech outside gives accountants insight, control. We can give advisory and make sure that [00:41:50] S0: You good? [00:41:50] S9: Yeah. Make sure that people stick to spending correctly and that they manage their money. If they don't manage it, you're all out the picture. [00:41:59] S0: Alright. Thank you team spending. Alright. Team payments, you got two minutes to wrap up.
00:41:59 · David M. Brear, Pranav Sood, Ben Johnson, Carlo Gualandri, Anil Stocker, S3
[00:41:59] S0: Alright. Thank you team spending. Alright. Team payments, you got two minutes to wrap up. [00:42:03] S10: Cool. So obviously, we've got four really important elements here. Part of the thing with running a small business is you face a huge amount of uncertainty, so you need the planning piece and you need the other bits to help you through. But none of it works if you don't have that lifeblood coming in, the cash coming in, the ability to manage it and control it. I think anyone who owns a business knows, and I've I've been through this myself, having switched on GoCardless in my own business about four or five years ago, that first time I saw those payments automatically drip into my bank account. No phone calls, no emails to chase, none of that stuff that causes stress and... [00:42:33] S0: I mean, the the love in this team is real. Oh, I know. It's absolutely... Mean, we've a chance. Genuine. [00:42:38] S2: It really is. [00:42:38] S10: But, you [00:42:39] S0: know, you you threaten [00:42:40] S10: that breakdown of relationship as soon as you have to chase people. Having that certainty and that control in your hands rather than relying on something else or, you know, a forecast where you're guessing what's happening, you've got real certainty there of what's gonna happen. That's when kind of life suddenly gets easier as a business owner. [00:42:56] S8: Cool. [00:42:57] S11: I agree with all that. [00:42:59] S3: I think Done. [00:42:59] S0: I'll move on. Lesson. I've got
00:42:59 · David M. Brear, S3, S5
[00:42:59] S0: I'll move on. Lesson. I've got [00:43:00] S3: I've got one more thing to say, is agree with Jonathan. All of these parts are important to being a successful small business owner, frankly, business owner of of any size. But the question we're trying to answer here is what's the most valuable aspect of cash flow to SMEs? So the question I wanna ask you guys in the audience is this, which is if you could only do one of these four things, which one would you do? You only do spend management. Cool. Do you have a business? No. You only do lending? Do you have a business? No. You only do forecasting? You've got some nice charts. Do you have a business? No. [00:43:33] S5: Charts. [00:43:34] S3: You only do payments. You've got a business. You're a business owner. Congratulations. [00:43:39] S0: Wow. [00:43:40] S3: That's all I wanna say. Somebody always makes it a semantic argument, don't they? There's always that one guy and it's this guy, but... [00:43:47] S0: Yes. Interesting. Alright. Thank you very much team payments. So team forecasting, what... You've got one minute each. You ready to go? Yeah. Alright. Go.
00:43:47 · David M. Brear, Nikki Adams, Lauren Harvey, Carlo Gualandri
[00:43:47] S0: Yes. Interesting. Alright. Thank you very much team payments. So team forecasting, what... You've got one minute each. You ready to go? Yeah. Alright. Go. [00:43:57] S12: So I think the thing is, as I said before, you know, a business owner, a lot has been discussed today about education. And the talking point and the central focus is the forecast. You can't have a conversation with your clients. You don't really know what to focus on unless you've done a forecast. It is a difficult concept for small business to understand. So when you look at the growth curve we looked at this morning, I think that gap is because business owners don't understand the the impact. And the only way we can really educate them is to have a forecast and then explain how cash impacts in their forecast and what if scenarios. [00:44:33] S0: Okay. [00:44:33] S7: None of [00:44:34] S12: you guys can do what if scenarios. [00:44:35] S8: It's true.
00:44:35 · Carlo Gualandri, S5, David M. Brear
[00:44:35] S8: It's true. [00:44:36] S5: I don't know what about these chart things are. It's all the pretty charts. It's not pretty charts. It's about taking data, whether it's financial or nonfinancial. It's about use... Using the best in AI and machine learning to predict forward. It's about putting a human element to that as well because we're not psychic. I wish we were, you know, but we're not. And about overlaying the assumptions of the business simply about taking absolutely what that business needs to know and presenting it in a prioritized action feed that says these are the things that you need to focus on. The things they need to focus on may then be one of our kind friends here, but they will never get the business until we've told them that they need it in the first place. I rest my case. [00:45:18] S0: Thank you very much. Team forecasting, team lending, your closing arguments, please.