All over the world, every business gets paid for the goods or services they provide and they pay other businesses who help them produce those goods and services. Managing inflows and outflows of cash is a common challenge that every business, regardless of size, has to address. My father’s small business was certainly one of them. In my early teens, I coded a simple application that enabled him to invoice his customers electronically to accelerate cash collection. It was an early indication of the personal passion I would harbor throughout the career I have gone on to enjoy. Now, in my role as CEO of Taulia, my fervour for supporting companies to manage their cash flow is even greater. It is continuously fueled by what our customers say:
“My bank was chasing me for repayments and my cash flow reserves were worrying for the short-term future of the company. The early payment program relieved a lot of this pressure and stress. I was particularly struck by how Taulia went out of their way to help and make it easy. Taulia truly embodies the ethos of putting customers first and making sure the customer is always informed. I’m just glad Taulia was around to support me and my business.”
“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,”
“My experience with Taulia allows me to reinvest my money back into my business quicker.”
Quotes like these show Taulia’s progress towards our vision to create a world where every business thrives by liberating cash.
The process of converting money spent to money collected is known as the cash conversion cycle. Working capital management is a concept that aims to improve this cycle for the benefit of a business’s liquidity. It is consistently cited as one of the top three priorities of CFOs globally, and the discussions we have with our customers echo this perspective. The past year in particular, characterized by COVID-19, has really shined a light on the difficulties many businesses face in working capital management. Whether it is a small supplier struggling to stay afloat, a mid-size business coping with growing demand from customers, or a large organization navigating the complexities of a global supply chain, businesses need better solutions for managing their payables, receivables and inventory.
The genesis of Taulia’s business was a solution known as dynamic discounting, which helps reduce the time it takes for a business to be paid after it has provided a product or service to its customer. Our success in this part of working capital management has enabled Taulia to grow and evolve, over the past decade. This year, we are investing in our business to expand the solutions we offer to our customers. Taulia is making these technology investments on the back of a capital raise concluded last year from three Fortune 50’s and its ability to deploy liquidity from a growing network of financial institutions.