FreeAgent, a provider of accounting software, has partnered with global payments platform Mimo to help small businesses better manage their finances, cash flow, and payments.
The collaboration will see FreeAgent’s accounting software directly integrated into the Mimo platform, offering small business customers a centralised solution to handle global payments, cash flow, and financing within a single tool.
A key advantage of this integration is the ability for small businesses to batch pay suppliers with just one click. By leveraging this feature, businesses could reclaim up to an entire day each week, as invoice payments will be processed far more efficiently.
The system will also allow customers to delay payments to suppliers by up to 60 days, regardless of the currency.
Beyond payments, the integration brings further benefits through built-in credit lines, enabling users to control their cash flow with greater ease. Businesses can also streamline their internal processes by setting up approval flows, assigning roles for finance teams, accountants, or bookkeepers. The integration also ensures payments are automatically reconciled within FreeAgent, providing up-to-date and accurate financial records.
FreeAgent chief sales officer Stewart Hurd said, “The new integration between Mimo and FreeAgent is another big step for us in providing innovative and exciting solutions to our accounting partners and their small business clients. As the first accounts payable integration with FreeAgent, we are excited to see how the Mimo partnership can drive efficiencies for our accounting and bookkeeping partners.
“Our teams not only share a common goal of developing industry-leading technology that puts customers at the forefront, but our core ways of working have also allowed us to deliver an aligned strategy that focuses on making FreeAgent and Mimo a great fit for small businesses and accountants.
“We are already looking forward to the next phase of this partnership, which will bring new features as well as more opportunities for us to position ourselves closely with Mimo to educate and inform our audiences.”
Mimo CEO and co-founder Henrik Grim added, “Mimo and FreeAgent share a vision of making financial management seamless for small businesses and their accountants & bookkeepers. This integration is a crucial step in removing the hassle from accounts payable, ensuring businesses stay on top of their cash flow without the manual effort.”
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