NOWaccount Network Corporation Archives

Let's Talk Small Business

GMSDC Financial Summit - Access to Capital

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Archie Jones / NOWaccount Network Corporation

Archie Jones is a leader in the corporate M&A world with a strong combination of financial and strategic skills. His expertise executing complex transactions around globe including mergers and acquisitions, strategic alliances and joint ventures provides a unique perspective on managing growth and expansion. Archie is well-known for turning strategy into action. He is highly effective working inside the organization developing and refining strategies and then setting priorities. He is equally effective and experienced navigating the capital markets, competitive landscape and global ecosystem to identify and assemble the right combination of capital, partners and assets to achieve the organizational goals and objectives. He is a well-rounded leader with previous Board experience.

Rodney Sampson / Opportunity Hub

Rodney Sampson is a serial entrepreneur (4 startups/2 exits), angel investor and author of four books, including Kingonomics: Twelve Innovative Currencies For Transforming Your Business & Life, Inspired by Dr. Martin Luther King, Jr. Sampson is also an Advisor to high growth startups such as Digit, growth stage companies such as Mark Burnett Productions, angel investment and venture funds such as Kay Koplovitz’s Springboard Fund and Semble’s WeFund; and Heads of State in Namibia, Gabon and Uganda throughout the world. Sampson is passionate about reducing our nation’s poverty and wealth gap by advancing the cause of innovation, coding, entrepreneurship, investment and capital formation as a way of life for all communities. To advance this definitive cause, Sampson created Opportunity Ecosystem (OE). Opportunity Ecosystem includes Kingonomics and opportunity.UP/unleashing private equity, the nation’s leading conference and learning platform learning for minorities and under-served communities to learn, navigate and master the innovation, entrepreneurial and investment ecosystem. Each year, Sampson’s conferences attract over 1,800 existing and aspiring entrepreneurs, 500 teenagers and 100 accredited investors and mentors. Opportunity Ecosystem also includes Opportunity Hub (OHUB), a multi-campus coworking space, entrepreneurship school, pre-accelerator and incubator headquartered in downtown Atlanta, Georgia. OHUB is home to Opportunity Ventures, a new seed and early stage fund focused on making investments in early stage consumer products, technology, supply chain innovation and social impact companies that impact culture and beyond. Sampson, an Atlanta native, is married and has six children.

Midtown Business Radio

NowAccount Network Corporation

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Nowaccounts Network Corproation — Kim Humphreys and Lara Hodgson of NowAccount Network Corporation

Nowaccount Network Corporation Eliminates DSO Aging for Small to Medium-sized B2B Companies

Today on Midtown Business Radio we were joined by Lara Hodgson and Kim Humphreys of Nowaccount Network Corporation. In the business world, companies can encounter significant risk related to prolonged aging of their Accounts Receivable. It’s not uncommon for some businesses to have a Day Sales Outstanding of nearly 60 days. With so much capital unavailable to cover costs such as payroll, necessary production materials, and capital equipment, many companies are forced to avoid taking on larger contracts/client orders or even close their doors due to capital short-fall. Until now, B2B companies were forced to try to secure capital through onerous loans (if they could obtain one), factoring agreements (which require disclosure to all clients), and other less-than-optimal sources of funds. Service companies that provide a service versus selling goods/products can have a particularly difficult time gaining access to loans or other options due to a lack of inventory/capital equipment that could be used as collateral.

Nowaccount serves the B2B space and provides access to AR pending capital within 2-5 days for a 2.5% fee. In essence the service is akin to being able to accept a credit card for invoices. Their clients can select which of their customers’ accounts they wish to include in their program rather than requiring them to enroll ALL AR. Additionally, Nowaccount Network Corporation doesn’t force a long-term contract on their clients, giving them even greater flexibility. Nowaccount does not require disclosure to their clients’ customers of their relationship so engaging in Nowaccount’s services is completely invisible to the B2B’s customers. With access to their capital in such a timely fashion, many of the company’s clients have been able to leverage their quick access to pending AR capital into securing large contracts that would have been previously-inaccessible. Some Nowaccount customers have been able to use their newly-acquired AR Cash in hand to gain bulk buying discounts on supplies/production materials and even improved company valuation prior to selling their company. If your company is a B2B company that doesn’t have access to capital sources the Big Boys have there is no good reason to not be taking advantage of Nowaccount Network Corporation’s elegant solution to aging DSO!

Special guest:

Lara O’Connor-Hodgson, CEO of Nowaccount Network Corporation