According to Strategic Treasurer’s 2014 Supply Chain Finance survey, 70% of Buyers want to increase or maintain their days payables outstanding, while 65% of Suppliers want to reduce their days sales outstanding. It is a tug of war. The result: tension between Buyers and Suppliers.
What if there was a way for Suppliers to get paid faster without negatively impacting Buyers’ cash flow or working capital? Sounds like a paradox. But it isn’t with TradeRocket’s PayMe Now! feature.
On the TradeRocket portal, Suppliers can see when their invoices are approved and scheduled for payment. If the Supplier needs to get paid sooner, it is as simple as 1-2-3 with TradeRocket’s PayMe Now! feature. For a small fee, Suppliers can get paid before the scheduled payment date. TradeRocket gives Suppliers control over when they get paid. No more “shaking the money tree” to get paid early.
What about the Buyer? They continue to pay the invoice on the scheduled payment date. TradeRocket partners with third parties who make the early payment to the Supplier on behalf of the Buyer. As a result, there is no negative impact to the Buyer’s cash flow or working capital.
What if a Buyer wants to extend payment terms but is concerned about the impact on their Suppliers? With TradeRocket’s PayMe Now! feature, Suppliers can get paid as soon as their invoices are approved. This means Suppliers can get paid sooner despite the longer payment terms.
See there is no paradox. TradeRocket provides a solution that is a win-win for both Buyers and Suppliers. Visit www.traderocket.net to learn more about how TradeRocket can help you manage your cash flow and working capital.