The Times Australia
Business and Money

Businesses accessing cash in new way

  • Written by CBA

New data from the Commonwealth Bank has found 55 per cent of businesses perceive invoice financing as a last resort, while 71 per cent of businesses admitted to having limited knowledge of how the process works.

Clare Morgan, Executive General Manager of Business Lending says invoice financing has conventionally been thought of as very manual and slow. She says this is why CBA is reimagining invoice financing to offer a unique digital proposition, in partnership with fintech Waddle.

Rolling out nationwide this month, Stream Working Capital is CBA’s new digital lending solution which gives businesses access to funds using their outstanding invoices as loan security.

“We’re increasingly getting more questions from our customers about invoice financing. We don’t view our product as invoice financing, rather we’re calling it digital working capital.

“It’s about moving away from the more traditional forms of lending and moving towards unlocking some of the value that’s trapped in assets such as receivables and inventory.

“Stream Working Capital sees us effectively lending against invoices, so businesses are seeing credit limits adjust in real time based on the value of current outstanding invoices. As the solution is digital end-to-end and integrated with cloud based accounting software such as Xero, a lot of customer pain points are removed. It’s transparent, available 24/7 and offers very fast funding, with a turnaround time of 72 hours, compared to an industry standard of several weeks,” said Ms Morgan.

The research shows half of all businesses would be more likely to use invoice financing if it was offered with their existing business bank (50 per cent), if it was simple and transparent (47 per cent) and integrated into their accounting software (41 per cent).

The partnership with fintech Waddle, means much of the working capital finance process can be automated such as the credit assessment, underwriting and monitoring, to ultimately deliver a better customer experience and faster access to cash.

“Having access to consistent cash flow is vital for every Australian business and we wanted to simplify and digitise the process in order to offer greater flexibility and support for those who need it. We know from speaking to customers and from the research that uneven cash flow is the cause of significant stress for many businesses.

“Using invoices to access credit provides peace of mind for businesses who can now access cash locked up in their invoices, assisting them to pay suppliers or hire employees. It’s an essential part of helping small businesses recover and grow as the economy starts to reopen and businesses navigate this new operating environment,” said Ms Morgan.

Two thirds of businesses (66 per cent) feel frustrated by uneven cash flow, while three in five business owners (60 per cent) feel at the mercy of their customers paying on time. Three quarters of businesses (76 per cent) reveal cash flow issues are limiting their growth, stability and ability to expand or fulfil large orders.  

Jarrod McGrath, is the founder and CEO of Smart WFM, a boutique Australian consultancy with a global presence that empowers its clients to stay relevant in a time of rapid digital advancement. Mr McGrath says Stream Working Capital has been essential for taking the stress out of hiring new staff and allowing him to feel more confident about growing his business.

“We were growing so rapidly and bringing on new staff, however it can be up to 120 days before that new team member is able to generate cash for the business. That’s what I use the facility [Stream Working Capital] for, to help bridge that gap in between recruitment, on-boarding, upskilling, client engagement and right up to the point of invoicing and then revenue generation.

“It’s been key for being able to scale quickly and because of access to this facility, I’m able to pay salaries from the day I on-board someone, which means I can keep growing and stay in control of my business. Being able to employ a capable team member with confidence is gold to me, because it means business growth. 

“Smart WFM’s compound annual growth rate from a revenue perspective over the last three years has been substantial. From a head count point of view, we’ve seen over 220 per cent growth over the last three years. Stream enables us to maintain a substantial growth rate like that and keep that rapid head count growth in place.”

New and existing small business customers can apply for Stream Working Capital from this week by talking to their business banker. For more information visit commbank.com.au/streamworkingcapital

Times Magazine

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

From Beach Bops to Alpine Anthems: Your Sonos Survival Guide for a Long Weekend Escape

Alright, fellow adventurers and relaxation enthusiasts! So, you've packed your bags, charged your devices, and mentally prepared for that glorious King's Birthday long weekend. But hold on, are you really ready? Because a true long weekend warrior kn...

Effective Commercial Pest Control Solutions for a Safer Workplace

Keeping a workplace clean, safe, and free from pests is essential for maintaining productivity, protecting employee health, and upholding a company's reputation. Pests pose health risks, can cause structural damage, and can lead to serious legal an...

The Science Behind Reverse Osmosis and Why It Matters

What is reverse osmosis? Reverse osmosis (RO) is a water purification process that removes contaminants by forcing water through a semi-permeable membrane. This membrane allows only water molecules to pass through while blocking impurities such as...

Foodbank Queensland celebrates local hero for National Volunteer Week

Stephen Carey is a bit bananas.   He splits his time between his insurance broker business, caring for his young family, and volunteering for Foodbank Queensland one day a week. He’s even run the Bridge to Brisbane in a banana suit to raise mon...

The Times Features

Metal Roof Replacement Cost Per Square Metre in 2025: A Comprehensive Guide for Australian Homeowners

In recent years, the trend of installing metal roofs has surged across Australia. With their reputation for being both robust and visually appealing, it's easy to understand thei...

Why You’re Always Adjusting Your Bra — and What to Do Instead

Image by freepik It starts with a gentle tug, then a subtle shift, and before you know it, you're adjusting your bra again — in the middle of work, at dinner, even on the couch. I...

How to Tell If Your Eyes Are Working Harder Than They Should Be

Image by freepik Most of us take our vision for granted—until it starts to let us down. Whether it's squinting at your phone, rubbing your eyes at the end of the day, or feeling ...

Ways to Attract Tenants in a Competitive Rental Market

In the kind of rental market we’ve got now, standing out is half the battle. The other half? Actually getting someone to sign that lease. With interest rates doing backflips and ...

Top Tips for Finding the Ideal Block to Build Your Home

There’s something deeply personal and exciting about building your own home. You’re not just choosing paint colours or furniture, you’re creating a space that reflects your lifes...

The Home Buying Process Explained Step by Step

Buying a home is a thrilling milestone, but it can also feel like navigating a maze without a map. With paperwork, finances, and decisions at every turn, understanding the home-b...