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Name: Cashy

Country: Poland

Starting Year: 2018

Ongoing: Yes

Description of best practice

Cashy's accelerated payment platform is a tool that enables fast and efficient payment processing

in a company. Such a platform allows money to be sent securely for products or services supplied
and enables receivables to be managed electronically. Cashy is tackling two problems that appeared

connected with the current transport industry crisis caused among other things by the conflict in

Ukraine. The first issue is supplier loyalty as there is a shortage of drivers causes transport delays

and problems in finding hauliers. As there is a lower volume of transports within Eastern Europe

there is also a problem to maintaining companies cashflow. The long invoice payment period does
not help either as it takes an average of 60 days of waiting.

Using technology, accelerated payments enable companies to receive payments faster, with fewer

fees and less paperwork than traditional factoring methods. With accelerated payments, companies

can receive money as soon as one day after an invoice is issued, allowing them to stay ahead of cash
flow needs. Additionally, by eliminating the need to use external finance companies, companies can

save time and money on factoring fees. All settlements made via the Cashy platform comply with

current regulations and the Tax Office, and additionally, through integration with banking and ERP
systems.

Cashy can be used in many industries where companies can carry out financial transactions quickly

and securely and monitor their receivables and claims.

Motivating factors

Entrepreneurs are an invaluable source of inspiration and motivation. Hearing similar stories like

this one can convince young entrepreneurs that everything is possible when you work hard. Cashy

CEO has built a business from scratch through his own work and commitment. It is also important

to notice that very often real-life situations bring ideas and solutions.

Website: e.g., https://cashy.pl/en

Project: GameON - 2021-1-ES02-KA220-YOU-000028541 30