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Bibby Offers Online Invoice Finance

A new online account management system for SMEs has been launched in Ireland by Bibby Financial Services. The system, in which Bibby invested €13m, allows customers to manage their fund and accounts online.

Bibby says that the platform allows clients full access to funds, as well as the ability to view available funds. It also allows customers to submit invoices and credit notes, to manage and request payments of funds online and to view payments received by debtors. The system also facilitate access to credit control information related to overdue debt.

Ronan Horgan, managing director of Bibby Financial Services Ireland, says that the online system is part of the company's three-year growth strategy, which involves catering more for SMEs looking to the alternative funding sector.

He adds: “Earlier this year, we launched our 2014 €60m fund for Irish SMEs. The uptake has been strong and we are finding that many Irish SMEs are increasingly looking beyond traditional sources of finance to fund their business.”

Horgan says that Bibby's new service will also ensure greater competition in the market.

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