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.