OpenSolar launches CashFlow, the first-ever payments system designed specifically for the solar industry
Sydney, Australia – 19 Sep 2024 – OpenSolar Pty Ltd, a software company that empowers solar installers with the world’s only free-of-charge solar design, sales and project management platform, today 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.”
“It’s like your own virtual project accountant”, said Xiomara Roman-Torres, owner of Vibe Solar, a long time partner of OpenSolar.
OpenSolar CashFlow is now in open beta and available for all solar companies on OpenSolar in the US. 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.
Solar companies can go to www.opensolar.com/cashflow to learn more about this new innovation.
OpenSolar launched in 2019 with a mission to scale solar globally by providing installers with innovative software technology and an equally innovative business offering – the world’s first entirely free-to-use design, sales and project management platform. Solar installers can use OpenSolar’s end-to-end platform to manage and grow their businesses all in one place with class-leading solar design accuracy, interactive custom proposals, and a portfolio of fully integrated financing options, products, and services.
Instead of charging a licensing fee, OpenSolar provides its software free of charge and instead derives revenue from its hardware and finance partners. By using OpenSolar, installers can avoid expensive software costs and instead invest money into their businesses, confident they are using the very best design and sales tools available in the market, all for free. OpenSolar is based in Sydney, Australia, with remote offices in the U.S. For more information, visit www.opensolar.com.