Financial liquidity is the fuel which determines the speed at which companies can grow. When operating cash flow is limited, so is the company’s ability to reach its goals. Revving has identified companies’ biggest obstacle, liquidity, and has revolutionized cash flow management based on automated solutions that enable real time access to advances against incoming revenue.
We got together with the team at Revving https://revving.io/ to learn more about how their partnership with Fiter has helped Revving revolutionize cash flow management.
How it all started
David Mandeno and Chris Pettit had both worked in Finance and Media and had witnessed firsthand the paradox digital-economy businesses face daily having large volumes of granular, real-time sales data but a constriction on cash flow brought on by extended payment terms. Revving was founded with the vision of resolving the issue.
The vision behind Revving
Revving doesn’t believe businesses should have to wait for revenue or be impacted by slow cash flow. Rather, David and Chris believe companies should gain immediate access to the money they’ve earned in any currency. Companies should be in control of their cash flow. Revving simplifies the complex by connecting data, revenues and cashflow in one place. Revving’s suite of products streamlines and improves cashflow management in an easy-to-use platform that provides access to revenue when businesses need it.
Keeping it simple
With cash flow being the lifeline of any business, and the complex systems and processes required to monitor and access cash flow, it’s no wonder businesses pour so much precious time and resources into cash flow management. Multiple revenue sources, long payment terms, different currencies, all add on to that complexity, making access to cash flow a slow and complex process and stifling growth. Revving is on a mission to revolutionize how businesses use revenue data to successfully manage their cash flow. Revving’s smart solutions take the pain out of cash flow management, freeing up time and resources to drive growth.
Along came Fiter
Revving’s unique, highly innovative business model and products warranted software solutions that were both proven and established while also being highly customizable and cost-effective. Fiter was a perfect fit due to its proven, powerful set of products that are easy to understand, highly customizable, and integrate smoothly into existing platforms.
Why Fiter?
Fiter is a good fit for companies looking to minimize their MVP development cost and go-to-market time which also require a high level of customization.
Fiter quickly understood Revving’s complex functional requirements and through their in-depth knowledge of finance systems were able to quickly propose a solution by modifying existing products to fit Revving’s user case. Fiter’s in-depth knowledge of finance systems has meant Revving has been able to build a platform that is highly customized to its specific use case within a relatively short timeframe and at a comparatively lower cost.
Flexible. Transparent. Communicative.
What Revving was impressed with most with Fiter was Fiter’s flexibility and transparency. Fiter maintains an open communication channel throughout the process. Revving is updated and engaged regularly on progress and any issues or roadblocks are quickly flagged so that a workaround can be identified collaboratively.
The critical stages
Fiter proved to be most crucial at the initial scoping stage of determining how systems can be customized to meet Revving’s requirements, and then once again through agile, collaborative problem solving on development issues as they arise.
The challenges of continuous success
Maintaining rapid, continuous growth while keeping the company customer-centric is a challenge for any company, but especially for Revving with its stellar growth. Revving has prepared for continuous success by ensuring it has the right infrastructure and resourcing in place both from a human and tech perspective.
Building the future. Today.
At Revving, the infrastructure for the future is getting built today. The collaboration with Fiter gives Revving the ability to leverage the benefits of a continuously innovative finance solution while maintaining full control over platform software. These capabilities provide Revving with an edge in addressing current and future challenges. The partnership between Fiter and Revving is a long-term partnership designed to support continuous growth, success, and innovation.
