New supplier financing solutions built specifically to enable mid-market companies and their suppliers to unlock cash
ORLANDO, FLORIDA, UNITED STATES, January 14, 2021 /EINPresswire.com/ — Finexio, the mid-market business payments company, today announced the launch of two new solutions, FinexioCash™ and FinexioOnDemand.™ Both solutions were designed specifically to help US mid-market companies and their suppliers unlock much needed cash to survive and thrive in a more volatile world.
Previously, sophisticated technology solutions that unlock cash from payables and receivables have largely been the preserve of the world’s biggest companies. With these two new solutions Finexio brings the same cash flow opportunities to mid-market companies and their suppliers —a critical component of the American economic engine.
“The US has the largest concentration of mid-market companies compared to other countries. These companies directly contribute $1.7 trillion to our economy and support 16.5 million jobs.” said Ernest Rolfson, Finexio’s CEO. “Yet, from a technology standpoint they have, for the most part, been forgotten. Our mission is to give these companies the same financial technology advantages as the world’s largest companies. Not just to level the playing field, but provide the competitive edge they need to compete and win in today’s global market.”
Building on its core promise of simplifying business payments by transitioning labor intensive, paper-based manual payments into digital channels, Finexio is now giving mid-market companies and their suppliers choices as to when they pay and get paid. Using Finexio, companies and their suppliers can now decouple when they pay from when their suppliers get paid, breaking the traditional tension that exists in business payments while improving the businesses’ financial health.
With FinexioOnDemand™ suppliers get paid within 10 days of invoice approval, rather than waiting the traditional 30, 60, even 90 days or longer. At the same time FinexioCash™ gives buyers the ability to take longer to pay, retaining cash on their balance sheet to fund much needed investments. Early payment is funded by a third party in exchange for a small discount.
Finexio, a pioneer in AP Payments as a Service, focuses on providing end-to-end AP payment capabilities within AP Software and Procurement Software Platforms. This combination represents a powerful disruption to traditional, manual-based AP processes. Finexio’s modern, efficient service model, minimal process charges, and total payment solutions enable Mid-Market companies to get more value from their existing business software and drive more automation, cost reduction, and convenience in the new remote working environment. Learn more about Finexio at www.finexio.com or follow us on LinkedIn.