Why this program?

• Daily financial management can be frustrating for small business owners. They spend countless hours managing bank accounts, invoices, and reporting. Errors in the process and lack of insights can result in late payments and lost business opportunities.
• Small business owners emphasize that a seamless, frictionless digital experience is critical to their success. Mastercard research shows that 85% of entrepreneurs are looking for a consolidated platform to monitor their business’s financial health, save time and resources, and improve decision-making.
• Digital technologies are creating innovative financial solutions and reshaping the way we interact with banks, which prompts small businesses to increasingly work with fintechs and neobanks, a segment that grows at 46.5% annually.

Program overview

Entrepreneurship takes perseverance, and daily financial management can be time-consuming for small business owners. Many small businesses in Europe face the below challenges:

• Receipts and invoices pile up, leading to lack of insights into the business’s financial situation and causing late payments.
• Data, such as bank- and accounting data, is siloed across different applications, requiring manual export and import of data, and extensive reconciliation.
• Payments are processed manually, often resulting in duplicate or late payments.
• Monitoring overdue payments from customers and ensuring timely payments is largely a manual task.
• Accessing credit involves significant paperwork, making the process cumbersome and time-consuming.

Bizcuit simplifies entrepreneurship and small business financial management. Its embedded finance solution allows banks to offer small business-focused solutions in just a few weeks, without the need to invest in complex, long-term projects that carry high risks. As small business owners begin their journey with a bank account and rely on banking apps and internet banking, banks are well-positioned to offer solutions to these entrepreneurial challenges, making them an ideal partner for Bizcuit’s embedded finance solution.

By integrating the Bizcuit solution into their apps, banks can deliver comprehensive and bespoke solutions to small businesses quickly and effectively. This integration will enable small businesses to benefit from the below features:

• Invoice and receipt management: Receive and manage invoices and receipts directly in their bank app with automatic data recognition, enabling them to approve, forward to their bookkeeping system or bookkeeper, and pay invoices—all without manual data entry.
• Accounts receivable overview: View all accounts receivable automatically pulled from their bookkeeping system and easily send reminders with payment request links to customers with overdue invoices.
• Transaction import: Automatically import bank transactions into their bookkeeping system, eliminating the need for export/import, reconciliation, and manual data entry.
• Payments: Generate payment proposals directly in their bank app using information from their connected bookkeeping system and payroll solution.
• Loan requests: Request a loan seamlessly within their bank app by simply consenting to share their accounting or bank data with the lender.

This will enable small businesses to unlock credit and working capital and manage their daily finances within the bank app they already use—saving both time and money.

About Bizcuit

Bizcuit is a dynamic and growing fintech company based in the Netherlands, dedicated to simplifying financial management for businesses. It facilitates seamless information exchange between entrepreneurs, accountants, banks, and financial packages, allowing businesses to manage their finances efficiently and focus on growth. With a vision to become Europe's leading business financial management platform, it collaborates with a range of partners, including banks, accounting firms, and enterprise resource planning providers.