Cash management app Slide glides into the market
Slide, a banking app which helps small business owners plan their cashflow, has officially launched into the market.
The app aims to “bring together all your financial information”, such as bank accounts, credit cards and loans, “so that you can control when to pay and when you get paid”.
The UK-based firm acknowledges that cash is difficult to manage because banking apps and bookkeepers only offer a view of past financial transactions, and not future ones.
This means they don’t have a clear view of how their cash position will be impacted should a payment come in late or several creditors demand payment at the same time.
“Banking apps and technology have never reduced the rate at which small businesses fail in the UK.” says Simon Lyons, Slide’s chief commercial officer. “Small business owners have traditionally struggled to predict what their cash position will look like in the future. This means they are basing financial decisions on guesswork.”
In case you’re wondering about its name, the app’s marketing slogan is: “Slide left for the past, slide right for the future. Tap to pay or slide to delay. No more guesses.”
Slide is a product of Cashfac, a cash management software provider, which provides white-label solutions for corporate and business banking clients.
