This is seamless invoicing exchange that reduces invoice industry costs by around 90%. The idea is simple and easy both for suppliers and customers. A supplier simply authorises their cloud accounting software, then invites their customer to do the same by joining the Link4 network. They are then free to transfer invoices instantly – with no need for data entry.

For suppliers, the invoice cycle is sped up, there’s an improved flow of cash and it means invoices can be tracked easily. Customers also get paid three times faster.

How they’re disrupting

Currently, many companies receive thousands of physical paper invoices each year, the data from which needs to be manually loaded into a computer. Or they use an app to capture the data, or emails with PDFs attached. Link4 offers a different way – delivering an invoice instantly without any of the hassle. The SaaS solution for small businesses uses a cloud accounting system. There is nothing to install which makes it simple for any business to start using it, and there’s a free plan (up to 10 invoices per month) reducing the barrier to entry for small businesses. Invoices delivered direct to the accounting system of the customer reduces the time and effort required to process invoice. Hence speeding up the invoice cycle. This means increased cash flow is possible – not that people will suddenly pay early, but it will reduce the amount of late payments.

Disruption potential

72.5% of invoices are paid late. Australia is the worst in the world with 26.4 days overdue being the average for invoices in the country. This delayed cash flow has a major impact on small businesses. Invoices are a key document for every business – whether sending them or receiving them. In Australia 1 – 3 billion invoices are sent annually. The average cost to send a traditional invoice is AU$40 and AU$30 to receive one. Various independent studies show these figures can be reduced by up to 90%.

Investments and future

A AU$20K grant from the South Australian government and AU$30K investment from SouthStart Accelerate Holdings are the only investments to date. The rest is boot strapped which got Link4 to the point of an MVP. Additional investment is being sought to support commercialisation activities and product growth as there is currently an open window of opportunity. Link4 hold letters of intent from 2 investor groups for global expansion investment in 2018. The company aim to establish a solid footprint in the Australian market ahead of competition during 2017. In early 2018 they are expanding to the UK, followed by Canada, USA, Singapore and Hong Kong in the latter part of 2018.