z Saltare, Author at Saltare

At Saltare our number one focus is to eradicate late payments. In fact, we want to replace the negative late payment conversation with a positive early payment conversation. We have built a platform that gives reasons for both buyer and supplier to benefit from early payments. However, we know that at the moment not every business uses our platform. Therefore we want to provide a list of simple tips that will help you get paid sooner.

Here are some tips for businesses to ensure they get paid on time:

  1. Set clear payment terms: Clearly define payment terms in your contracts or agreements with customers to avoid confusion or misunderstandings.
  2. Send timely invoices: Send invoices promptly after completing work or delivering products, and ensure they contain all necessary information, including payment due date and payment methods.
  3. Offer convenient payment methods: Provide customers with convenient payment options, such as online payment platforms or automatic payment options, to make it easy for them to pay.
  4. Follow up on overdue payments: Have a system in place for following up on overdue payments, such as reminders and escalation procedures.
  5. Communicate with customers: Regularly communicate with customers to ensure they are aware of payment deadlines and to address any issues or concerns.
  6. Use early payment programmes: Consider using early payment programmes, such as Saltare’s platform. Ask your customers to implement Saltare to pay early and improve cash flow.
  7. Conduct credit checks: Conduct credit checks on new customers to assess their creditworthiness and minimise the risk of payment delays or non-payment.

By following these tips, businesses can improve their chances of getting paid on time and reduce the risk of payment delays or non-payment.

As a large business, you know how important it is to maintain a reliable supply chain. Your success depends on the success of your suppliers and partners. But what happens when your suppliers are struggling with cash flow and unable to deliver their products or services on time? That’s where supporting your supply chain comes in.

Supporting your supply chain means working with your suppliers to ensure their financial stability and success. This can involve providing early payments and offering resources to improve their operations. By supporting your supply chain, you can ensure that your organisation will be more effective, maintain strong relationships with your partners, and even gain a competitive advantage.

One way to support your supply chain is by offering early payments. Early payments can help your suppliers manage their cash flow and reduce financial stress. However, implementing an early payment system can be complex, time-consuming, and costly. That’s where Saltare comes in.

Saltare is an early payment platform that enables large businesses to deliver early payments to their supply chain partners in the simplest way possible. With Saltare, you can provide early payments to your suppliers in just three clicks, without tie-ins, complex contracts, and all whilst providing them and you the insights needed to enhance your respective organisations. This allows you to provide critical financial support to your suppliers quickly and easily.

Saltare provides suppliers and you complete choice transparency, meaning your suppliers can choose which invoices to be paid early. This ensures that your suppliers have control over their own finances and can make the best decisions for their businesses.

With Saltare, you can support your supply chain in a way that benefits both your business and your suppliers. By offering early payments, you can improve your suppliers’ financial stability, reduce delays in your supply chain, and strengthen your partnerships. Additionally, Saltare’s simple and transparent platform makes it easy for you to implement an early payment system without the complexity and cost associated with traditional solutions.

In conclusion, supporting your supply chain is essential for the success of your business, and providing early payments is an effective way to do so. Saltare’s early payment platform makes it easy for large businesses to deliver early payments to their supply chain partners in just three clicks, with complete choice transparency and without tie-ins, complex contracts, or limited visibility. By using Saltare, you can support your supply chain and gain a competitive advantage in your industry.

Early payment programmes can support social responsibility and sustainability goals, such as supporting small and diverse suppliers. In this blog, we’ll explore how early payments can drive social value creation, and how Saltare’s early payment platform can help buyers and suppliers achieve these goals.

In the simplest form early payments can support social responsibility and sustainability goals by helping small and diverse suppliers. Early payments can provide small suppliers with the working capital they need to grow their businesses, which can support job creation and economic development in local communities. They can also reduce anxiety associated with late payments. Additionally, early payments can help diverse suppliers gain access to capital, reducing barriers to entry and promoting greater diversity in supply chains.

Buyers with a focus on social value creation can also reward suppliers for positive social value impact by offering to pay them early which can be in exchange for a smaller or even a zero discount.

Saltare’s early payment platform makes this extremely simple. Buyers can segment supplier groups, applying flexible discount rules for paying differing supplier cohorts early. Suppliers can choose to take an early payment with complete choice. Regardless of whether they take the payment they can rest safe in the knowledge that their payment will be made and by when.

Saltare doesn’t discriminate by supplier size, industry, location or risk profile, resulting in everyone benefiting.

Early payments can support social responsibility and sustainability goals by helping small and diverse suppliers. By using Saltare’s early payment platform, buyers can support these businesses by providing them with the working capital they need to grow and thrive. This allows them to reinvest in communities, job creation, innovation and ultimately a better service provision to their customers.

Q: Can you tell us a little bit about your business?

A: Sure, I run a small printing company that specialises in creating customised products for businesses and individuals.

Q: What challenges have you faced as a small business owner?

A: One of the biggest challenges has been managing cash flow. It’s tough to balance bills and pay employees while also trying to grow the business. There have been times when I’ve struggled to keep up with demands and invest in new equipment.

Q: Can you tell us about a time when you received support from a customer that made a big difference for your business?

A: Yes, one of my long-time customers, a local marketing agency, offered to pay me upfront for a rush order of custom banners and flyers. This act of kindness and support was just what I needed to get my business back on track. With the cash injection, I was able to pay off my outstanding bills and invest in new equipment.

Q: How did this early payment impact your business?

A: It allowed me to complete the agency’s order on time and to the highest standard. This led to other customers noticing the quality of my work and reliability, and they too began to offer early payments in exchange for faster turnaround times.

Q: How has your business grown since then?

A: It’s grown into a thriving enterprise. My reputation as a dependable and trustworthy printing company spread throughout the community, and I was soon inundated with work from new and existing customers.

Q: What advice would you give to other small business owners who are struggling with cash flow?

A: Don’t be afraid to ask for early payments or support from your customers. It can make a big difference in the growth and success of your business. Alternatively suggest that they use early payment platforms like Saltare. Then you don’t even need to have what sometimes feels like an awkward conversation.

Q: Are there any tools or solutions that you would recommend to other small business owners?

A: Yes, I recently discovered Saltare, an early payment solutions provider. Their platform allows businesses to offer their customers the option to pay early in exchange for a discount or other incentive. This will be a game-changer for my business, as it will help businesses like mine manage cash flow while also providing an added benefit to my customers.

In conclusion, this example of a small business owner’s success story is a testament to the power of community and support in small business. Early payments from customers can make a big difference in the growth and success of a small business. If you’re a small business owner, don’t be afraid to ask for early payments or support from your customers. Additionally, using early payment solutions like Saltare can help you manage cash flow and provide added benefits to your customers.

Talk to Saltare now to see how your organisation can benefit, whilst helping your supply chain. It really is a win win.

Early payment programmes can help buyers and suppliers streamline their operations and reduce administrative burdens. In this blog, we’ll explore how early payments can drive efficiency for both parties, and how Saltare’s early payment platform can automate the early payment process, freeing up time and resources for both parties.

Early payments provide several benefits that drive efficiency for both buyers and suppliers. By offering early payments, buyers can reduce the time and resources required to manage supplier payments or payment queries. Additionally, suppliers can receive payment faster, improving their cash flow and reducing the need to manage overdue invoices.   

With Saltare’s early payment platform, buyers and suppliers can streamline the early payment process. Saltare provides a centralised location for buyers and suppliers to manage their invoices and payments with the simplest communication and reducing the need for chasing (suppliers) or being chased (buyers).  It is estimated that in the UK alone over 900,000 hours per day is spent by SMEs chasing invoices.  This means that their customers are being chased by the same amount of time.

In Conclusion

Early payments provide a range of benefits that can drive efficiency for both buyers and suppliers. By using Saltare’s early payment platform, buyers and suppliers can streamline their processes, reduce inbound activity and focus on their core business operations. More time on value add, more innovation, more growth, more profitability. Why wouldn’t you?

Saltare can help facilitate this.

As a Senior Executive you’re always looking for ways to improve your bottom line and create a more sustainable and socially responsible organisation. One strategy that can help you achieve both of these goals is early supplier payments. By paying your suppliers early, you can achieve cost savings, improve your reputation, and create social value. And with Saltare, a financial technology platform that facilitates early payments to suppliers, achieving these benefits has never been easier.

Cost Savings

One of the most significant benefits of early supplier payments is cost savings. Many suppliers offer discounts for early payments, which can add up to significant savings for your business over time. By using Saltare to facilitate early payments, you can take advantage of these discounts without having to manage payments manually.

Improved Reputation and Social Value

Early supplier payments can also help to improve your organisation’s reputation and create social value. When you pay your suppliers promptly, they are more likely to view your organization as a reliable and trustworthy partner, which can lead to improved collaboration and more favorable terms in the future. Additionally, early payments can help to support the sustainability of your suppliers’ businesses, contributing to a more sustainable and socially responsible business ecosystem.

Operational Efficiency

In addition to cost savings and improved reputation, early supplier payments can also improve your operational efficiency. By using Saltare to manage your supplier payments, you can simplify your payment processes and reduce the workload associated with managing payments manually. This can help to free up your time and resources, allowing you to focus on other critical areas of your business.

Real-Time Data Insights

Saltare’s platform also offers real-time data insights that can help you make informed decisions about your supplier relationships. By analysing data related to your supplier payments, you can identify areas for improvement, such as suppliers who consistently require early payments or who don’t offer discounts for early payments. This can help you to optimise your supplier relationships and achieve even greater cost savings over time.

Partner with Saltare Today

At Saltare, we’re committed to helping businesses achieve financial, operational, and data benefits while creating social value and enhancing their reputation. We believe that every business deserves the opportunity to see their supply chains benefit, which is why we’re keen to work with any organization that shares our vision. By partnering with Saltare, you can achieve cost savings, improve your reputation, and create social value, all while simplifying your payment processes and optimizing your supplier relationships. Contact us today to learn more about how Saltare can help your business achieve its goals.

Early payment programmes can provide financial benefits to both buyers and suppliers, such as improved cash flow and reduced costs. In this blog, we’ll explore how early payments can create financial benefits, and how Saltare’s early payment platform can help buyers and suppliers achieve these benefits through flexible payment terms.

Early payments offer several financial benefits for buyers and suppliers. For buyers, early payments can provide discounts, optimises cash and improve profitability. Suppliers can benefit from improved cash flow, reducing the need for costly financing options.

Saltare’s early payment platform offers complete flexibility regarding when a supplier wished to get paid and in the simplest way. It also saves them from spending on non-value add activity like credit control, by notifying when a payment is going to be made. The platform enables buyers to offer early payments to suppliers whist ensuring they see a reasonable return on their cash. This means that suppliers can potentially benefit from the attractive finance rates of their much larger clients reducing the need for costly financing options.

The buyers will also see the cost benefit of efficiencies driven by them not needing to fund a the non-value add activity associated with managing inbound payment queries.

In short, by using Saltare’s early payment platform, buyers and suppliers can take advantage of flexible payment terms to improve their cash flow and reduce costs.

Halton Borough Council in North West England has become the first local authority in the UK to adopt a new fintech platform that will allow them to further support their supply chain by paying suppliers early. They will deliver notifications of invoice approvals providing clarity and certainty over payments combined with the option of offering suppliers the choice to get paid sooner.

Using Saltare’s Early Pay platform Halton will make their supply chains more efficient, providing suppliers with certainty as to when their invoices will be paid. As part of an initial agreement, the Council will enrol suppliers onto the platform giving suppliers the option to get paid as soon as an invoice has been approved.

As part of the platform functionality, the Council will also have the option to secure discounts in exchange for early or immediate payment. In return, this will enable the Council to reinvest the savings made into supporting frontline services.

Mervyn Murphy, Head of Procurement of Halton Borough Council says the introduction of Early Pay will help the authority boost its social value within the community, whilst also giving greater autonomy of supply chain relations: “Halton Borough Council recognises the challenges faced by businesses in these difficult times and has always looked for ways to better support them.  We have previously offered early payment solutions in this space, however, Saltare brings something different that complements our other payment options for suppliers. We look forward to providing our suppliers with the opportunity to benefit from Saltare’s Early Pay.”

Ant Persse, CEO of Saltare says that technology has the power to change the way local authorities are able to engage with their communities and supply change: “Early Pay will give Halton the opportunity to further support their supply chain, reducing anxiety faced by many businesses and helping to inject cash into the community at a time when the economy needs it most. We’re looking forward to working with Halton and progressing our partnership.”

Halton will integrate Early Pay within the coming months. Halton suppliers will automatically receive invoice approval notifications and will be given the option of early payment offers, with no obligation to accept, either way. This will provide suppliers with peace of mind in knowing exactly when they’ll be paid, thereby reducing demand placed on the suppliers’ credit control arrangements.

(October 2022) UK Fintech Saltare has secured its first listing on Crown Commercial Service’s (CCS) G Cloud 13 framework under Lot 2: Cloud software category.

By securing the listings on the G-Cloud Framework, Saltare is now eligible to actively supply Public Sector bodies across the country with its market leading early payments software, Early Pay.

The G-Cloud 13  Framework allows cloud based solution providers to register a product listing within strict government frameworks. The process ensures that Public Sector organisations can purchase solutions as and when needed from businesses with approved listings.

As part of the application, Saltares’ Early Pay platform has been approved for use by UK Public Sector  to enable them to boost supply chain relations and improve payment practices across all suppliers.

Ant Persse, CEO of Saltare said the approval of Saltare’s application shows the benefits and significance of early payments: “UK Public Sector work with hundreds of thousands of suppliers across many sectors, and managing this is a mammoth task.

“However, enabling early payments into the supply chains, can not only boost relationships but also encourage local business to develop and grow through the availability of funds. We’re looking forward to working with organisations within the UK’s Public Sector

Crown Commercial Service supports the Public Sector to achieve maximum commercial value when procuring common goods and services. In 2021/22, CCS helped the public sector to achieve commercial benefits equal to £2.8bn – supporting world-class public services that offer best value for taxpayers.

The G-Cloud 13 framework will come into effect on 9th November 2022, making it easier for Public Sector organisations to access cloud technology and innovation by pre-qualifying suppliers for quality, stability, security, compliance and pricing factors.

Cash flow is critical to any business. Sadly, payment uncertainty and late payments leave many suppliers struggling to maintain healthy cash flow, putting their futures at risk. And causing disruptions to your supply chain and the economy as a whole. 

We are on a mission to change that. 

Early Pay by Saltare improves the flow of cash to the entire supply chain in a way that works for everyone. Enabling you to protect your supply chain, become the buyer of choice and deliver real social value.  

Watch our short video to find out how.

Transform the way you pay and contact Saltare today.

Arrange a demo to see just how Early Pay will deliver benefit to your business and your supply chain.  

Contact our team at [email protected] for more details.