OpenSolar, a software company that empowers solar installers with free-of-charge solar design, sales and project management platform, announced a new innovation designed to improve cash flow for solar companies.
“This is the first-ever payments system designed specifically for the solar industry,” said Andrew “Birchy” Birch, CEO and co-founder at OpenSolar. “As solar veterans, we understand the complexities of running a solar business – invoicing various amounts at multiple points in a project, accepting different forms of payment, and paying exorbitant fees to the conventional payment providers. It saps the lifeblood of a solar company. Our new payments system automates everything, freeing up time, lowering transaction costs, increasing the flow of funds and creating peace of mind.”
OpenSolar’s CashFlow is the only tool that provides a secure payment system that is fully integrated within a solar company’s workflow. From initial deposit to payment milestones to final invoice, the system automates invoicing, payment reminders and feeds into a solar company’s accounting system with clear project identification for easy reconciliation. It provides the solar customer with an easy set of payment options, and saves the solar company money on processing fees and time spent in the back office.
“CashFlow’s credit card processing fees are typically 20% lower than conventional payment processing providers, saving solar companies money on every transaction,” said Joe Abel, chief monetization officer. “Account to account transfer costs are also very competitive, but it’s when you look at the time saved from preparing, sending and reconciling payments that the real savings kick in.”
OpenSolar CashFlow is now in open beta and available for all solar companies on OpenSolar in the U.S. This will soon be followed by the UK, Australia and Europe, before a global rollout in the coming months. CashFlow complements OpenSolar’s market-leading integrated finance offering, to provide solar companies with complete flexibility for customer payments.
News item from OpenSolar
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