OF SUPPLIERS WOULD LIKE
TO BE PAID EARLY ON
When Being Responsible Pays Off.
Thankfully, the majority of your suppliers use early payment discounting as a way to help maintain their cash flow and keep their businesses operating successfully. Giving your suppliers the option to get paid early through the portal they already use for eInvoicing and self-services is a simple way for you to strengthen your supply chain. Whether it’s to invest in new warehouse space, meet payroll, or purchase raw materials, early payments have helped thousands of suppliers evolve both their business, and their relationships with their customers.
Ron is the owner of a boating and marine repair company in Seattle, Washington. Starting out, he rented a small warehouse space which worked well when he had a limited number of customers. However, once his business started taking off, he quickly realized that he needed to invest in a larger space.
“I guess there’s worse problems to have then getting so much business, that you need more room to grow, but, without money on hand to put down a deposit for a new warehouse, I wasn’t getting the commercial space I needed. However, once I realized that I could get my payments quicker with Taulia, I was able to get the money I needed to secure my new working space.”
Jill owns a small printing company that she operates out of her home in Danbury, Connecticut. In the summer of 2014, Jill was contacted by a large Fortune 500 company that wanted to place an extensive print order, as they overhauled their training materials.
"I couldn’t let an opportunity like that go by -- it would have paid a quarter of my yearly revenue in a single order, so I immediately went onto the portal and accelerated the invoices I needed in order to secure the money to buy new equipment to get their materials printed."
Tim owns a small plastics manufacturing company located in Springfield, MI and found himself facing a busier than expected third quarter, due to two new customers and increased demands. He knew that in order to satisfy the orders coming in, he would need to hire an additional employee.
“I knew that I needed to come up with a game plan -- and quickly. Being able to get paid early on a few of my larger open invoices gave me the cash I needed to find and hire a new employee within just a few weeks. I don’t think I could have fulfilled those orders without it.”
Taking It To The Macroeconomic Level.
Supplier financing provides your suppliers with access to cash so they can reinvest in their business and succeed. But imagine a world where all of the largest companies gave their suppliers access to early payment financing - what impact would this have on the global scale?
In this video by Purchasing Insight, this exact question is answered, as well as many more on the current market landscape and economic impact of supplier financing.
Creating a Win-Win.
Supplier financing saves your suppliers thousands of dollars and hours of stress because you're offering early payments through the portal they already use for eInvoicing, at a fraction of the rate they get on the open market. And what's more? By paying your suppliers early in exchange for a discount, you're not only strengthening relationships, you're saving millions.
Taulia Analytics : What is your discount capture?
Ready to give your suppliers the opportunity
to gain control over their cash flow?
Find out how to let your suppliers use Taulia. We promise they’ll
be responsible with the cash … unless they go to Vegas.
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