Sage and Swoop Partner to Supercharge Business Funding Globally
In a monumental stride towards enhancing the financial landscape for businesses worldwide, Sage, a renowned accounting and financial technology provider, has embarked on an exciting journey of collaboration with Swoop, a fintech company specialising in funding solutions. Brimming with promise, this partnership seeks to deliver comprehensive business funding and cost-saving solutions.
We're so excited to be joining forces with you! 🙌💚
Small to medium-sized businesses (SMBs), often navigating the labyrinthine maze of financial opportunities, can now sigh relief. This dynamic partnership, announced on a sunny Friday, aims to empower SMBs and their trusted advisors with unparalleled access to diverse funding prospects.
A standout advantage of this partnership lies in the discounted rates for Sage accountants on the Swoop for Advisors platform. This platform serves as a gateway for accountants and business advisors, enabling them to effortlessly explore grants, equity investments, traditional and alternative loans, and avenues for business savings on behalf of their clients.
Moreover, the collaboration extends further, as Swoop users can now seamlessly integrate their Sage Intacct and Sage Business Cloud Accounting software. This integration opens up a world of financial insights, facilitating access to tools like cash flow forecasting ultimately streamlining financial processes.
Beyond financial software integration, this partnership is poised to yield substantial benefits in reducing operational costs in crucial areas such as energy, banking, and foreign exchange. By synergising their collective expertise, Swoop and Sage aspire to guide businesses in identifying avenues for cost-saving and streamlining their funding endeavours.
The significance of this partnership becomes all the more evident when considering the current economic landscape. A PYMNTS Intelligence report reveals that merely 26% of Main Street businesses in the United States have access to funding equivalent to at least 60 days’ worth of revenue. Around 17% of these businesses lack immediate access to emergency funding.
As SMBs grapple with financial uncertainties, their quest for accessible sources of working capital has become increasingly pronounced. This pressing need is underscored in the “Main Street Health Q1 2023: Using Finance to Ease Recession Fears” report, a collaborative effort by PYMNTS and Enigma.
Chip Mahan, the global commercial head of FinTech, payments, and banking at Sage, encapsulates the essence of this partnership succinctly, “This partnership with Swoop aligns perfectly with our mission and will make accessing essential financial capital quick and easy, ensuring businesses have the support they need to succeed.”
Andrea Reynolds, the CEO at Swoop, shares this enthusiasm, stating, “We are thrilled to partner with Sage to bring our funding expertise to businesses and advisors worldwide. Together, we will simplify the path to financial empowerment for businesses of all sizes.”
However, this partnership’s impact transcends borders. Swoop and Sage have unveiled a global partnership that promises to revolutionise the landscape of business funding and cost-saving solutions. Beyond finance, Sage’s domain extends into accounting, financial management, HR, and payroll technology, making this partnership all the more potent.
This collaboration doesn’t just stop at simplifying access to funds. It further identifies opportunities to curtail business expenses, notably in energy, banking, and foreign exchange. This holistic approach aims to impact the bottom line of businesses substantially.
In today’s ever-evolving economic landscape, businesses continually struggle to secure the financial capital necessary for growth and sustainability. Research conducted by the Sage Foundation has shed light on the formidable hurdle posed by the scarcity of financial resources.
Recognising the gravity of this challenge, Swoop and Sage have allied to streamline and expedite the process of accessing vital funding. This innovative partnership will empower advisors and businesses across the globe to effortlessly explore and tap into an assortment of funding options tailored to their unique needs.
Moreover, this partnership takes an inspiring step towards inclusivity. It pioneers support for underserved black female founders in Atlanta, mainly through the BOSS Network. This move comes in response to a Sage report, which uncovered systemic barriers obstructing their access to capital and essential resources necessary for sustainable growth.
In essence, the partnership between Sage and Swoop is not just a business collaboration; it’s a testament to the power of technology and innovation in democratising financial access. It’s about bridging the divide, simplifying complexities, and making the path to economic empowerment well-lit for businesses, regardless of size or location.
