Successful businesses are constantly moving forward, but waiting to get paid can put a strain on that growth. The recipe for success for any company is a steady increase in revenue and earnings growth each year. Unfortunately, the road to success is anything but steady or linear.
One of the biggest factors that can derail a growing business is the dreaded cash flow gap. This is an issue plaguing not only small growing businesses but large companies as well. While business may be booming and sales may be closing, this doesn’t necessarily mean payments are flowing at the same cadence. Overhead costs, payroll and accounts payable can eat away at cash on hand faster than you can collect it.
So how does Taulia play into all this? Plain and simple: early payments. When surveyed, 47% of Taulia suppliers indicated the biggest driver for taking an early payment is a cash flow gap. Taulia users can take control of their cash flow by accelerating payments to meet the demands of daily business. Getting paid early means filling the gap when money is flying out the door at a faster rate than its coming in. Having access to this money frees up time and resources that can be used towards business growth.
Red Rock Oilfield Services is one of many suppliers on the Taulia network that endured a cash flow gap. When one of their largest customers extended their terms from 30 to 45 days they found themselves short on cash. They didn’t anticipate that an additional 15 days of delayed payment could cause such problems when paying overhead expenses and accounts payable on time. Red Rock Oilfield Services has been able to stabilize their cash flow by utilizing Taulia. “When we’ve used it, early payments has enabled us to meet our payment obligations without having to borrow money from a bank or delay payments.” (Brenda Conner, Red Rock Oilfield Services, Bookkeeper)
Stop waiting to get paid. Taking early payments with Taulia puts you among the ranks of today’s most successful companies.