Cloud accounting app of the month: iwoca

28 August 2018

In the second of our monthly app-focused blogs, our resident app expert Gareth Cliffe takes a closer look at iwoca.

What is iwoca?

iwoca offers flexible credit to SME’s across Europe, giving them the opportunity to take advantage of opportunities that were previously only available to larger businesses and facilitating their growth.

Launched in 2012, iwoca has already grown to be one of Europe’s leading fintech lenders, using technology to eliminate the cost and complexity associated with traditional business finance.

Why do we recommend our clients use iwoca?

There are many advantages associated with the use of iwoca, but the four key benefits our clients report are:

1. A fully managed process

Through iwoca’s introducer’s portal, UHY can fully manage our clients’ credit applications.

2. Save time

iwoca’s market leading technology analyses your business data in real time, meaning you receive a credit decision within hours – often instantly.

3. Eliminate paperwork

iwoca’s process is fully online, meaning no more hours prepping documents, such as cash flow forecasts, as you are able to link online accounts or upload electronic documents.

4. No commitments 

iwoca run a ‘soft’ credit search at offer stage, so clients can secure approval for free with no obligations to take the funds.

How does iwoca work with the cloud?

iwoca integrates with Xero and other cloud accounting software, giving instant access to your sales history, which ultimately speeds up the credit making decision.

Gareth Cliffe is a management accountant and sits within our dedicated cloud accounting team.  In addition to working with a mixed portfolio of accounts assignments, he has extensive experience of working with a number of cloud providers, including Xero and QuickBooks.

Should you have any questions about this blog or wish to discuss your options when it comes to iwoca or cloud accounting please do not hesitate to contact Stuart Hurst.

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