Countingup and Hokodo partner on SME late payment protection
Countingup has signed a partnership agreement with Hokodo in a move designed to lessen the risk faced by SMEs from late payments and unpaid invoices. The companies say the partnership is the first between a small business-focused insurance firm and a banking and accounting company to give UK SMEs the option to protect their income on an invoice-by-invoice basis.
Using Hokodo’s Invoice Protection tool, business owners can request a quote to ensure their highest and most business-critical invoices are covered; identify individual invoices they want to protect, and purchase and pay for insuring them through a tick box process. The price of insuring each invoice with Hokodo’s solution is typically between 0.25 – 1.5% of the overall value of the invoice.
Countingup has already established a link to the Hokodo solution within its app. The two partners are now working on integrating their solutions more closely to further streamline the experience for users.