With modern automation tools, large corporations are approving invoices faster, but although they’re sitting on tons of cash, they have no reason to pay invoices before the due date. Meanwhile, their suppliers are struggling to stay afloat and have to resort to high interest rate borrowing. This flawed cycle benefits neither party, as small businesses dig themselves into debt and big corporations weaken their most valuable asset - their supply chain.
SupplierPay encourages large corporations to pay their suppliers as soon as possible, alleviating the need for small businesses to obtain outside financing and providing them with fast and easy access to cash
– regardless of credit rating, size, geography or maturity. Invest in your supply chain by paying your invoices early, giving your suppliers a chance to grow, succeed and thrive.
With this is mind, Taulia designed its Early Payment Quick Start Initiative to incentivize corporations to implement a solution that enables early payments to suppliers and meet the President’s call to action. The Quick Start Initiative offers large businesses the opportunity to quickly set-up an early payment program that could be applied to every invoice and offered to every supplier. And with Taulia, buying organizations can offer an early payment program without impacting their Days Payable Outstanding (DPO), as they have the option of using third-party funding instead of their own excess cash to fund the program.
By signing on to Taulia’s Early Payment Quick Start Initiative,
you can provide your suppliers with early payments 24 hours a day, 7 days a week through a simple, completely automated solution. Taulia offers the flexibility to create early payment programs that are customized to specific business needs, providing buyers with huge savings and suppliers with predictable, easy and inexpensive access to cash.
Taulia has already helped large corporations provide more than $75 billion in early payment financing to their small business suppliers.
So, what are you waiting for? Join SupplierPay today!
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