Working capital leader unlocks over $4.5bn for suppliers, increasing volumes 250% year-on-year through AI
SAN FRANCISCO (NEWSWIRE) May 31st 2018: Taulia, the global pioneer of technology-enabled working capital solutions has announced a record first quarter with over $4.5bn in affordable financing unlocked for suppliers in the form of early payments. The growth in early payments demonstrates that Taulia has become an established financing solution for businesses globally.
Taulia’s momentum has continued to build over the last twelve months with a wave of Global 2000 businesses, including such industries as aerospace, mining, public sector and shipping, who have chosen Taulia to lead the transition from outmoded working capital practices to adopt Taulia’s state-of-the-art platform. These businesses are recognizing the benefits of connecting into the largest working capital focused network of over 1.5 million suppliers and accessing diverse liquidity sources that range from banks, clients and others to quickly ramp early payment programs for all their suppliers while transforming their own cash flows.
“We needed to shift from a tactical set of working capital tools to a true enterprise-wide strategy where we don’t just optimize cash flows for our own company, but also do so across our whole supply chain. That way we make ourselves fit for the digital future. Taulia is enabling us to realize this vision” Bjoerk Ohlhorst, former CPO and SVP Global chemical and Global 1000 CPG companies”
“We’ve been working passionately to transform the way businesses liberate trapped cash from their supply chain and put it to work” said Cedric Bru, Taulia’s CEO. “Today I’m delighted to share how that hard work is paying off as evidenced by the growth in our early payment volumes. Every new program we implement and every single innovation we make helps more businesses around the world benefit from stronger cash flows and hence their ability to thrive.”
Much of the growth in early payment across Taulia’s network has been fueled by Artificial Intelligence. Too often AI has remained at the proof of concept stage. In contrast, Taulia actively utilizes AI in every single customer program to optimize payment terms and discount rates. The result has been a 250% increase in early payment volumes year on year.