Improve liquidity and be cashflow positive without drawing on lines of credit
Corrivo provides the automation to improve productivity and reduce expenditure but when cashflow is a burning issue, there’s more we can offier. Corrivo Finance: a guaranteed way to get paid on time, improve cashflow and avoid the need to draw on lines of credit.
Traditional Options have a downside
There’s a lead time on cost cutting measures such as reducing headcount or exiting property leases, downsizing your commercial premises or implementing salary freezes. And while these may be short term solutions, inevitably you will need to grow again when cashflow is back where you need it.
There’s also a lead time to outsourcing. If that looked like an option before the pandemic, now, there’s now no guarantee that your specialist workorce will be able to work, whatever their costs or location.
Then there’s finance. Both Factoring and Supply Chain Finance come with a heavy administrative burden and are on-balance sheet so they affect your credit rating and shareholder value. Credit cards, loans and other business finance options also come at a price, one that adds to, instead of solving the financial challenges over the longer term.
Introducing Corrivo Finance
Corrivo Finance from Data Interconnect is a suite of solutions for large suppliers. Two offerings allow you improve your cashflow without affecting your credit rating.
Accelerated Payment Terms is a way to be paid early by our funding partners with no dispruption to your customers, who continue to pay us on your usual credit terms. Rates are highly attractive and there is no recourse to supplier or buyer.
To give customers more time to pay without diluting your DSO, Extended Payment Terms is a low cost way for you to guarantee that you will be paid in full, on time, while our funding partners take responsibility for collecting from your customers. Rates are low and you can either fund the solution to help shift stock and solve short term cashflow issues, or offer customers the option to have up to 90 days to pay, for a small fee.
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Connect to Corrivo to plug in to eInvoicing efficiency
If your business is thriving and you want to control OpEx, reduce DSO and improve productivity, Corrivo will provide the automation, accuracy and customer friendly features to help you get there. When you are live on Corrivo, the cloud based accounts receivable and order to cash solution, you can access Corrivo Finance products.
We believe our finance options are market beating in terms of rates, and unbeatable in terms of both convenience for you and your customers, and for the off-balance sheet nature of the solution – no impact on your credit rating, no impact on your customers’ either. And, the barriers are lower – it’s not just for the larger customers, even smaller firms can access EPT at low cost without securitising their personal assets.
"Our customers get paid on completion, and can spend hundreds of thousands on materials for a construction project. It's not that they can't pay, they often just need more time."
In partnership with leading financial institutions we have pioneered a new solution for commercial finance. It allows you to get paid the day after you issue an invoice. You retain the customer and the relationship, but our finance partners collect the outstanding balance on your usual credit terms. Seamless, frictionless and non-disruptive to your customers. They want you to keep using your economies of scale to bulk buy supplies that they can access at the great rates you offer. This solution helps you access the cashflow you need from receivables to support your payables commitments and procurement objectives.
Don’t let the limitations of outsourced service provider software stop your suppliers from doing a good job. Give them access to the information they need with Corrivo and oversee performance from where you are.
Connect all areas of your business with a joined up solution that works for group companies.
Talk to our team about the unique off-balance sheet Corrivo Finance solutions.