A locally based financial technology company is set to expand abroad in a move expected to reward it with $28m in revenue.
By Ruby Stewart, Future Adelaide Intern
An Adelaide-based financial technology company is set for global success, with a US expansion expected to provide it with $28m in revenue within the next three years and drive local jobs.
Link4 is expanding its services to the United States with the support of an export grant through the Government of South Australia.
The Lot Fourteen-based company specialises in e-invoicing, which allows invoices to be exchanged through electronic documents.
The system is automated and simplifies the invoicing process while eliminating the need for a paper trail. Demand for e-invoicing services has surged in recent years, with businesses like Link4 set to reap the revenue benefits.
Since launching in 2016, Link4 now services more than 4000 businesses across Australia and overseas.
The company is hoping to become a pioneer within the American financial-tech market and provide businesses with greater security and protection from scams.
“We are a leading e-invoicing provider in Australia, New Zealand and Singapore, we actually do have a good global reputation already,” says Link4 chief executive officer Robin Sands.
“Going into the North American market shows that we will be one of the competitive players on the world stage.”
E-invoicing is a new concept in the US, but the government’s grant will allow Link4’s technology to be available in the US by 2023.
“They’re supporting us because it provides that future jobs opportunity, which is important for the young ones entering the workforce in SA,” says Sands.
Link4’s growth will also benefit the community back home.
“Our head office is based in Adelaide so any increase in business will be felt locally – in jobs and spending,” says Sands.
While global development is exciting, Sands says it is important that Link4 stick to its roots by continuing to support small businesses.
“E-invoicing is being adopted by more and more countries every year, and in every country, there’s a lot of small businesses, and often these ones are ignored,” says Sands.
“More than 95 per cent of businesses are small businesses. So, they have to be addressed.”
Financial technology is also more affordable than traditional invoicing methods.
“On average (it) costs $30 to process a normal invoice, $27 to process a PDF and $10 to process an e-invoice,” says Sands.
“We’ve created a way where (businesses) can sign up online within two minutes and be active with invoicing.”
Original article published on adelaidenow.com.au