Early payment volume is up 208% as small business demand for financing increases during the COVID-19 crisis
More than USD 4 billion in early payments accelerated in March
Early payment volume is up 208% month-over-month as COVID-19 increases demand for financing by small businesses, according to the latest insights by Taulia, the leader in working capital technology solutions. These insights confirm that small businesses are in need of reliable and predictable cash flow to run their businesses during these turbulent times.
In March alone, more than USD 4 billion of invoices were financed using Taulia’s platform. Furthermore, new supplier adoption soared by 178% month-over-month. These statistics reflect that small businesses are looking for ways beyond traditional bank lending to access financing to overcome cash flow gaps and obtain working capital. Taulia’s 2020 Supplier Survey found these to be two of the main reasons why suppliers request early payments, revealing how critical these programs are during the COVID-19 crisis.
“As economic conditions have deteriorated, especially credit markets, we have seen a tremendous increase in demand for early payments. It is our hope that during this time we can help small businesses, which are the backbone of our economy, access the cash they need to prepare for a better future,” says Taulia CEO, Cedric Bru.
“Having the ability to request early payment has given us certainty as we don’t know what the future may hold. Access to extra liquidity enables us to optimize our cash flow to keep the business running smoothly,” says one supplier, Rocky Schmidt of Karet Trading.
The Supplier Survey collected the views of nearly 20,000 respondents and found that approximately 56% of all suppliers, both small and large businesses, were interested in requesting early payments. The benefits of taking early payment are clear: there is a strong desire to manage cash flow (34%), have payment predictability (20%) and gain access to working capital (15%). Taulia’s unique proposition allows all suppliers – regardless of size – to join the platform and access early payment.
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Über Taulia
Taulia ist ein Fintech und Anbieter von Working Capital Management-Lösungen mit Hauptsitz in San Francisco, Kalifornien. Taulia hilft Unternehmen, auf den Wert ihrer Verbindlichkeiten, Forderungen und Lagerbestände zuzugreifen. Die Plattform von Taulia und das Netzwerk von mehr als 3 Millionen Unternehmen ermöglicht es Kunden, ihre Working-Capital-Strategien umzusetzen, ihre Lieferanten mit frühzeitigen Zahlungen zu unterstützen und zum Aufbau nachhaltiger Lieferketten beizutragen. Taulia wickelt jedes Jahr mehr als 500 Milliarden US-Dollar ab und genießt das Vertrauen der größten Unternehmen der Welt, darunter Airbus, AstraZeneca und Nissan. Seit März 2022 ist Taulia Teil von SAP und agiert seither als unabhängiges Unternehmen mit eigener Marke innerhalb der SAP-Gruppe.
Weitere Informationen unter taulia.com/de