Small business accounting company Sage announced an integration with payments software platform Stripe in the hope of accelerating payments to small and medium-sized businesses SMBs An announcement this week by Sage said the company is integrating Stripe to add invoicing capabilities to its solution for SMB users of Sage Business Cloud Accounting This means businesses can send electronic invoices to their customers and receive faster payment via credit and debit cards in the UK Last December Sage released a report that found 17 percent of all payments in the UK are made late and 9 percent ultimately have to be written off as a loss Stripe will power the eInvoicing feature that customers can view on an array of platforms while Sage supports payment functionality The companies said the integration will limit SMBs need to chase down unpaid debts Sinking resources into needlessly laborious tasks isnt a good use of time for any business said Stripe UK Country Manager Iain McDougall in a statement Stripe develops tools and features that make running and growing an internet business easier Were excited to work with Sage to improve payments experiences and simplify payment reconciliation for their customers all the while reducing payout times for many suppliers Todays launch is an example of innovation and collaboration in FinTech providing customers with world-class products that will revolutionize the way they work no matter what stage of their business journey they are at added Sage EVP Payments and Banking Seamus Smith We know cashflow is the lifeblood of business yet businesses in the UK spend an average of 15 working days chasing late payments Smith continued This is unacceptable These are problems that can be easily fixed with the right technology solutions designed to make invoicing and other admin tasks seamless Accelerating payments is an absolute priority for any business and Im delighted to see Stripes integration embedded into the Sage platform to target this importance issue You Might Also Like accounting B2B B2B Payments E-invoicing faster payments invoice payments late payments News Sage SMBs Stripe supplier payments Whats Hot In B2B