Lendscape Launches Groundbreaking Data-Driven Solution to Transform Invoice Finance

Lendscape, the market-leading provider of commercial finance technology, today announced the launch of Lendscape CONNECT, a revolutionary solution designed to widen access to invoice finance by removing the traditional barriers involved for lenders and their clients.

LendscapeCONNECT brings together open accounting technology and advanced Shadow Ledger functionality to digitalise and automate the invoice finance operations for banks and lenders, driving down costs while providing improved risk control. Available on the award-winning Lendscape platform, the new solution promises to completely remove the burden of month-end reconciliations, saving lenders up to four hours per client each month.

“Invoice finance can be a cashflow lifeline but has been hindered by complex manual processes that can be cumbersome for lenders to manage, and more intrusive for businesses than alternatives like overdrafts and term loans,” said Carolyn Goddard, Head of Product at Lendscape. “With Lendscape CONNECT, we’ve tackled these issues head-on. Our new solution gives lenders secure, direct access to live data from their clients’ accounting systems and a detailed view of the sales ledger that always aligns with their clients’ records. This eliminates time-consuming month-end reconciliations and removes the client burden of manually uploading debtors and invoices.”

Kevin Day, CEO of Lendscape, remarked, “Lendscape CONNECT is a true game-changer, combining the day-to-day simplicity of invoice discounting with the robust risk control typical of factoring. Lenders are now equipped to offer light-touch, non-invasive invoice finance to a wider range of clients, achieving precise, timely risk management without the need for human intervention.” He added, “We expect that this will enable lenders to strike the optimal balance of cost, risk and service in their invoice finance operations, fostering increased adoption and satisfying market demand. Lendscape has a proven track record of leveraging cutting-edge technology to address the challenges facing the industry, and Lendscape CONNECT is a milestone in enabling simpler, data-led financing.”

Key benefits of Lendscape CONNECT include:

• Eliminate month-end reconciliations, saving ~ up to 4hrs per client, per month: Automated synchronisation between the lender’s view of the sales ledger and their clients’, eliminating the need for month-end reconciliations and manual disapprovals.
• All the control, none of the hassle: The control of factoring without the manual intervention. Lendscape CONNECT offers instant access to live financial data from clients’ accounting packages, providing the day-to-day simplicity of invoice discounting with the risk controls normally associated with factoring.
• More clients, enhanced risk management: Advanced Shadow Ledger technology offers comprehensive, invoice and debtor-level visibility. Detailed sales ledgers support improved reporting, a wealth of analysis, and granular, timely risk management at scale.
• Improved client experience: Reduces friction for clients, removing the need for cumbersome month-end reconciliations and manual uploads and providing a transparent view of their funding position through the Lendscape Client Portal.

With features including live data access, automated disapproval calculations, and seamless integration with a breadth of third-party services for enhanced reporting and risk management, Lendscape CONNECT is set to redefine invoice finance.