Fintech company IODM has unveiled a new brand identity and positioning that aims to cut through the cluttered financial/accounting software market and communicate its core proposition, Rein in Receivables, to small business and their trusted advisors including accountants.
The new brand will be launched at XeroCon, Xero’s annual customer event that draws the largest gathering of accountants around the country.
IODM is a cloud-based software platform that fully automates the process of chasing invoices to get cash off the balance sheet and into the bank account.
IODM interfaces with leading accounting software brands such as Xero, MYOB, Intuit and Reckon, and is targeted at the end-user SME as well as providing a new revenue opportunity for accounting firms.
Created by brand agency, Thread, the brand tagline – Rein in Receivables – features a visual interplay depicting a reindeer head within the logo and use of reindeer imagery throughout the core brand assets.
Damian Arena, managing director at IODM, said: “We wanted to capture both the tech savvy and established practice principals at accounting firms that are seeking new business advisory revenue streams, as well as the SME market which comprise 97 per cent of all Australian businesses.
“Managing cash flow is the no. 1 issue for most small business, that are collectively owed a staggering $26 billion in unpaid invoices at any point in time, and spend 18 million hours each year chasing debtors,” he said. “There’s a huge market opportunity for us to help SMEs improve their velocity to cash flow.”
Arena said the brand identity is designed to stand out in a crowded field, with 4 out of 5 Australian small business owners now running their business in the cloud today* and have so many software options to choose from.
“We wanted a brand that would cut through the noise and differentiate from the myriad of other fintech brands all vying for the attention of SME and their influencers,” he said.
The new brand debuts at XeroCon South in Brisbane this week as part of a phased approach in the development of a brand strategy for IODM. A brand campaign will be implemented in the coming months.