Technology has created a borderless, hyper-connected world, removing communication barriers, erasing geographic boundaries and placing services and products in the palm of our hands through small, but powerful, digital tools and applications.
It is now possible to “see” and manage an entire distribution center or warehouse via your mobile phone or Tablet. The documents of business, from non-disclosure statements and leases to offers and contracts, can be sent, signed and received at the speed of the internet.
This rapid exchange of purchase orders, invoices, agreements and validations of items or services received, is helping small business gain new efficiencies in their processes and procedures, and is leveling the playing field in many areas. And it is helping SMEs solve the cash flow problems that accompany doing business, whether around the globe, or around the corner.
Recently, some of the world’s largest companies have adopted the strategy of delaying payments to their suppliers; typically, up to 120 days. This unwelcome squeeze places added pressure on the most critical “pain point” for an SME: adequate working capital. Technology is helping to relieve that pressure.
Disruptive FinTech firms are displacing traditional banks (and their stringent lending policies) by providing SMEs access to funding solutions that are innovative, simple and fast. The application/approval process is streamlined, and can be executed online via any internet-connected device—including your smart phone. As a business owner, you can complete a funding transaction from anywhere in the world, and at any time you find your business liabilities exceeding operational cash flow.
Thanks to new financial platforms, most companies have access to the working capital they need within 24 to 48 hours. ExpoCredit for example, provides working capital through a portfolio of financial products and services:
Accounts Receivable Financing (Invoice Factoring)
With buyers taking longer to pay, this funding tool provides fast access to working capital. ExpoCredit purchases unpaid invoices (accounts receivable) and collects payment directly from the buyer who owes the money. Everything is executed online.
Supply Chain Financing
ExpoCredit is one of the few specialty financing firms offering this option which is designed to keep goods flowing throughout the global supply chain. The best candidates are companies with US$20+ million in sales, a good income stream and solid net worth. Again, technology facilitates all aspects of documentation, validation, receipts and payment via dedicated platforms and apps, across all borders and time zones.
Many of the transforming benefits of technology on working capital relate to saving time. Beyond the direct expense of manually processing and coordinating information and documents, time delays create cash flow gaps. The longer it takes for invoices to reach buyers, the longer the wait for final payment, and the more fees and other expenses accumulate. Technology connects business owners with online funders to access the working capital they need to bridge cash flow gaps.
To apply online to any of our services click here now!
For more information and to apply online, visit ExpoCredit online a www.expocredit.com