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Hokodo partners with InvoiceInsure to offer protection against unpaid invoices

Hokodo partners with InvoiceInsure to offer protection against unpaid invoices

Most business owners can relate to the feeling of not knowing if their invoices are going to get paid. It’s the thing that fills most owners with the most dread when it comes to running their businesses.

Most business owners can relate to the feeling of not knowing if their invoices are going to get paid. It’s the thing that fills most owners with the most dread when it comes to running their businesses.

To address this problem, we are delighted to announce an exciting partnership with InvoiceInsure which brings a simple solution — single invoice insurance — to small businesses trading in the UK. Simple, fast and easy insurance online in minutes.

A study of two million invoices by Xero found the average small UK business owner is owed £24,841 in late payments on any given day. And latest figures show that UK small businesses are chasing £14.9bn in late payments, with 50,000 businesses failing every year as a result. Those businesses who use software platforms to process customer invoices and payments directly show a 15% lower incidence of cash flow management issues but there is still a looming gap.

Single Invoice Insurance is a way of closing the gap of unpaid invoices. By insuring accounts receivable online, both instantly and cost effectively, on an invoice-by-invoice basis you are covered when your customers do not pay.

This partnership represents a technological leap over what the industry offers today. Integration of Hokodo’s API on InvoiceInsure’s digital platform makes invoice insurance accessible to the underserved SMEs who will benefit most. UK businesses now have access to invoice protection in just a few clicks. No hassle. No forms. Thanks to Hokodo and InvoiceInsure, late invoices and bad debt are definitely a thing of the past.

Our partner InvoiceInsure is a proprietary digital platform making invoice insurance accessible to businesses of all sizes. They curate the market and partner with best in class insurance carriers, brokers and InsureTechs and make invoice insurance available to more businesses looking to protect their cash flow.