vcita and NorthOne Join Forces to Advance Small Business Financial Health
NorthOne, one of America’s leading banking apps for small business, and vcita, the complete business management platform for small businesses, announced a partnership today to help small business owners improve their financial health.
NorthOne’s user-friendly banking app offers an intuitive interface that handles deposits and expenditures, optimized for small business banking needs. Financial tasks that vcita helps with include processing online payments, managing service subscriptions, generating digital invoices and receipts, and tracking revenue cycles. Fully integrated with native tools for revenue management, vcita also offers tools that streamline customer communication and appointment scheduling. As a result, small business owners can spend less time on administration and enjoy smoother cash flow.
Together, NorthOne and vcita are launching a campaign that encompasses free financial learning experiences and discounts on relevant tool subscriptions, aimed at simplifying financial processes for small business owners and helping them manage and collect payments within the context of their day-to-day business operations.
Executives from both enterprises will lead a webinar to kick off the program, to be followed by a series of educational articles that open up financial guidance and information to small business owners.
“With 80 percent of SMBs failing due to poor financial decision-making, empowering business owners with the finance tools and knowledge they need to thrive would create a modern industrial revolution,” said Eytan Bensoussan, CEO and Co-founder of NorthOne. “By teaming up with vcita, we can combine forces to help small businesses better manage their finances and improve their financial literacy at the same time. As a result, entrepreneurs can focus their energy on why they started a business in the first place.”
“It’s important to us to keep looking for more ways to help our growing community of small business entrepreneurs build successful and sustainable businesses, and NorthOne shares that vision,” said Adi Engel, CMO of vcita. “We each provide solutions that are simple and accessible to business owners, both in terms of pricing and in terms of ease of use, so it was a natural fit to join forces and help more entrepreneurs to improve their financial health.”
The announcement comes at a time when business owners are focused on re-defining their relationships with financial service providers and re-evaluating their tech stacks to ensure that their go-to baking and payment management solutions offer the best possible added value.
Many are trying to integrate changes they made during the pandemic with their previous operating methods, to continue or build upon the steps they took towards digitalization in the past 18+ months, and find more efficient ways to manage their business in a post-Covid world. “We hope that the worst is over for small businesses, but that doesn’t mean that everything is ‘back to normal,’ added Engel. “We’re in a post-Covid world, which is drastically different to all that came before, and small businesses need support more than ever.”
Bensoussan agrees, observing that “Small business owners have made huge strides in digital transformation during the pandemic. Now they need help to consolidate those changes and turn digital financial management into something that’s second nature.”
The partnership with NorthOne is another in a long line of new relationships that vcita forged during the pandemic in order to bring more services and support to the small business ecosystem. The platform also recently joined with Lendio, to help small businesses access funding; with Next Insurance, to improve access to business insurance; and with a number of local business management organizations in local areas across Europe.
At the same time, vcita has been adding features and capabilities to its core small business management platform, to help small businesses build flexible payment workflows which enable them to control cash flow and track revenue. These include a new “Packages” feature so small business owners can sell bundles of services; automated invoicing according to billing cycles; past-due invoice reminders; and “Pay by Mobile,” which allows businesses to offer their clients another safe, contactless payment option.
About vcita
vcita helps small business owners and entrepreneurs build and manage a business they’re proud of. Our dedicated business management platform and education hub address all day-to-day needs of SMEs, allowing them to remain competitive in an ever-changing digital-first economy. vcita’s easy-to-use app helps solopreneurs and small teams manage their entire business online, turning time-consuming tasks like scheduling, payment collection, and marketing into simple, one-click operations. We build strategic partnerships with global enterprises to create long-lasting customer engagement and new SME growth opportunities. For more information, visit www.vcita.com/partners or follow us on LinkedIn.
About NorthOne
NorthOne provides American small businesses with a powerfully simple way to do their banking through NorthOne’s app and website. Launched in 2019, NorthOne is trusted by more than 320,000 small businesses across the U.S. and is backed by Battery Ventures, Redpoint Ventures, and Tom Williams. The company’s headquarters are in New York City with additional offices in San Francisco, Portland and Toronto. To learn more, visit northone.com. NorthOne is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank; Member FDIC.