Flipful @ RIGA COMM 2020

The annual business technology exhibition RIGA COMM 2020 has concluded. Flipful was also invited to share the experience and solution.

On the one hand, this time and the organization of events is associated with a crisis for many,as it comes to think about how to survive in the future, but on the other hand, this is also a time of new opportunities when new solutions are born. And it was proven at the exhibition – it was a pleasure to see such a wide range of topics, and many speakers, mostly speaking from stage, not from screen. There were also many stands and visitors, everyone was in a positive mood and so many new, successful ideas were presented. Among them, we were also happy to present Flipful. The conference exceeded expectations, and our stage was attended by 70%, we are satisfied.

RIGA COMM 2020 was a great support for local businesses, not only because of the opportunity to find potential partners, but also for the inspiration and support  that convinced entrepreneurs that everything is still happening and worth to develop further.

Flipful came up as one of the solutions that would also solve the problems caused by Covid-19 in companies and combine several benefits at once:

– employee engagement

– reducing the workload of accountants

– improving emotional health

– increasing the company’s productivity

– stress reduction in the company and for each employee individually

Flipful is a financial solution that helps employees get paid anytime they need it with just one click in the mobile app. So how is Flipful able to provide all of the above?

It turns out that the secret is a sense of financial security. Or, based on several studies, money is the # 1 cause of stress. Its insufficiency or inability to receive it in an emergency situation may even increase the consequences of the unpleasant situation, for example, a person may become less aware of things around, because all thoughts would be focused on finding possible solutions to appeared situation.

In an ideal world, a person facing an unexpected situation that requires additional finances has the opportunity to ask the employer for an advance payment and receive it immediately, upon request. But in reality, the advance payment is a rather bureaucratic process, which involves a lot of paperwork, human resources and also time, so often, it is not possible to receive additional funds in an instant, and if you think that the company has more than 1,000 employees and half need to approve advance payments, then it is quite impossible. Then the person turns to credit institutions.

Here he faces the next challenge – a ” financially advantageous ” loan requires a good credit history, which is rare. The last chance to get money fast – is fast consumer loans, but it is rarely thought that the costs will become an additional burden and affect the future credit history. At this point, the person is already desperate and ready to overpay in the future, so that only the current emergency can be resolved quickly. However, such a partially unintentional action will only worsen a person’s financial situation, which will eventually be reflected in his well-being.

Financial stress is not new, but ignoring it can lead to a time when the situation is no longer under control and begins to affect all of the factors above – employee engagement, emotional health, which often also determines physical health, productivity and of course stress – for oneself and others.

Flipful is not a therapeutic solution, but it can to help prevent a number of problems, including those related to mental and physical health, that are caused due to an unstable financial situation.

Flipful’s mission is to create a healthy work environment that will benefit both employees and companies, and most importantly, its implementation is easy and with minimal changes in the company’s accounting system. Learn here how easy it is to integrate Flipful into your business.

We wish everyone to be healthy and use this time to create future success stories!

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