z White Papers Archives - 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 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.