Good relationships are good for business.
In Australia, 42.4% of domestic invoices remain unpaid at the
due date. The way we manage our B2B relationships needs an update.
That’s where we come in. Parakeet makes it simple to automate early payment collection, broker returns and manage business debt.
It’s accountability made easy.
Create your account for free.
We automate early payment by brokering returns.
1. What is a return?
It's a reduced price on your invoice offered to customers as an easy nudge to get paid early or on-time.
Once you and your customer approve the offer, they get a reduced bill and you receive early payment. Everyone wins! Best yet, customers don’t need to be Parakeet users to approve, giving you more cash flow opportunities.
2. How does it work?
Set the maximum return you are willing to offer and we'll take care of the rest.
Based on the maximum set, we'll offer returns to customers on your behalf. Not sure what percentage to set? Try our returns calculator. You'll receive a personalised recommendation for your business needs.
3. Why offer returns?
Took out a loan? Using credit cards? You're not alone, but while invoices remain unpaid, debt doesn't wait.
Offering a return reduces your admin time chasing payments allowing you to pay down your debts sooner rather than later. It’s a win-win that offsets the cost of the return offered.
How might returns boost your business?
Try our calculator
Reduce debts and get paid faster. Much faster.
1. Peace of mind.
2. Hello early & on-time.
3. New heights await.
Enable automation to centralise, manage and accelerate payments and returns.
Reduce your debts, admin burdens and cash flow stress.
Convert receivables to cash at bank.
Develop social capital, brand equity and buyer loyalty.
Enable card payments with existing merchant facility.
Accept direct debit.
Set up your returns configuration in minutes. Start getting paid faster and on schedule.
Optimise returns for liquidity, cash flow & debt management.
Control which clients receive returns.
Customise return rates and amounts to ensure profitability.
Personalise based on your customer relationships and their needs.
Use existing loyalty programs.
Strengthen customer relationships.
Connect with Xero and maximise use of capital and opportunities between accounts receivable and payable.
Minimise debt reliance.
Decrease cost of funding.
Centralise your AR and AP.
Enhance financial line of sight.
Boost decision-making speed.
Built for scale and security.
Recognition and awards
Parakeet has been recognised by the Department of Industry, Science, Energy & Resources and awarded the Accelerating Commericialisation Grant by the Entrepreneur's Programme.
Security protocols across our platform, applications and API integrations have been fully audited and certified with this globally recognised standards.
Xero & Parakeet: Streamline your payment and collection process.
Xero offers a central source of the truth: No matter how many bank feeds you use or apps you connect with, Xero automatically brings it all together.
Join our beta group now and get early access to our payment solutions.
Esker & Parakeet: Mediate and broker new financial opportunities.
Esker is a worldwide leader in AI-driven process automation software, helping financial and customer service departments digitally transform their procure-to-pay (P2P) and order-to-cash (O2C) cycles. View our case study to learn more about our collaboration with Esker.
Spineka & Parakeet: Navigating digital business AdVentures
Spineka is a technology business operating proprietary SaaS-based platforms for e-commerce and retail supply chain management through to strategic apps and marketplace solutions. View our case study to learn more about our collaboration with Spineka.
Working with Parakeet has seen Spineka's innovation levels increase with the opportunities provided by both parties. Solid partnerships within the IT world require a lot of trust, built around results and relationships, something we have with Parakeet on all levels.
Mark Robertson, Managing Director, Spineka
Correcting the payment cycle.
Did you know that for more than 40% of businesses, the shortest credit to cash turnaround on their invoices is over three weeks past the due date? Businesses, in turn, postpone their own payments to suppliers or take specific actions to correct cashflow.
Half of all businesses see more than 7% of their payments fail, with B2B business spending an average of 16-20% of the payment value to recover it. Let's put that into perspective. If your business has a $10m in annual revenue, you could be spending over $100k to recover payments!
Trusted by businesses.
Easy API integration
We connected with Parakeet within a matter of hours and were ready for business in no time. Parakeet is a great team to work with, always responsive, friendly and helpful. I would highly recommend Parakeet to any business.
Reduced admin hours
We have been using Parakeet and they are brilliant. We used to spend more than 8 hours a week just to organise and arrange our payment. With Parakeet we can see and schedule our invoices with a few clicks and ensure that we are meeting the payment deadline. Now we only spend an average of one hour a week, saving us 364 hours for the year.
Helpful and friendly team
Parakeet have been super helpful and easy to work with when setting up my account. The whole process was painless, fast and efficient with any queries promptly attended to.