Hiveterminal: An Invoice Seller’s Perspective
Following a request from our community, we reached out to the invoice seller who sold the first invoice on Hiveterminal. We submitted a set of five questions to the company, which decided to gain liquidity by selling an invoice through Hiveterminal. This text has merely been translated into English and proofread. There were no other modifications with regards to its content.
Can you tell us a little bit about your business?
We are an accounting services business with an office in the suburbs of Ljubljana. Currently, my company services about 50 clients of various sizes. My husband is the owner and I’m the CEO. We are a very typical small accounting service and we have managed to stay small and have not added any additional employees or expenses.
How did you learn about Hiveterminal?
I saw a presentation by the Hiveterminal Product Sales Director at the Congress of Accounting Services in Laško, Slovenia. I approached the team after the presentation at their presentation booth and got additional information. I already knew a lot about invoice financing, but what is interesting about Hiveterminal for my clients is that using it is fee free and risk free.
At that time, the team had just announced their Hiveterminal Ambassador Program, but I decided not to join it before trying out the product.
What was your motivation for using the platform?
In the past, we have had a lot of inquiries from our clients about similar products and services. Most either didn’t understand what those companies were offering them or didn’t understand the fees involved in selling their invoice.
Currently, the financial climate in Slovenia is quite good and we don’t get as much of these requests as we used to. But, that might change in the future, so understanding that this product is free to use for invoice sellers, we decided to test it out now to see what kind of product it is and how it could fit our client’s needs. The debtor on this specific invoice has been our client since we opened the company, so we called them beforehand just to make sure they understood why we were selling it.
What was your experience using our product?
Overall, our experience using Hiveterminal has been good. In the field of financial products, it is amongst the most simple to use. When we started using it, Hiveterminal had not yet been translated into Slovenian, so some terms were challenging to figure out. I’m glad this has already been changed, as our clients usually already struggle with financial terms in their own mother tongue, let alone in a foreign language.
What was really surprising was how fast we found a buyer. We somehow expected for it to take longer. Also, the process of receiving the money has been smooth for us. It took about 48 hours or so for the money to land in our bank account.
Would you recommend it to your clients?
Our company has joined the Hiveterminal Ambassador Program after testing out the terminal. I think that says a lot. It could come in handy for a few of our companies, but we will recommend it once the need arises. In our business, the trust between an accountant and a business is crucial and it is the one thing we cannot break by selling them [the companies] products they may not need at the moment.
P.S.: While Hiveterminal recognizes the importance of the first invoice sold, we would also like to notify companies interested in using our product that we have no intention of sharing their data outside of Hiveterminal. We would also like to notify our community that such interviews will not become a standard. Hiveterminal has no intention of publicly interviewing every business using our platform.
