Leveraging Clearfin platform, one of our supplier clients, was able to improve their cashflow by taking early payments & was able to strengthen relationships with their international partners by making them timely payments.
This supplier client of ours is a renowned Importer & Distributor of Chemicals, engaged in indenting, stocking and distribution of a wide range of speciality chemicals. It is in the business of assisting the industry for international sourcing and supply of raw materials and intermediaries and aims to source value-added products and services.
They are catering to leading names in various industries like Polyurethane, Petrochemicals, Paints & Coating, Personal Care, Construction etc.
This supplier client has a distribution tie-up with 10 big global players to supply a high qualitative range of products which are further reconditioned at its unit to be supplied to its end clients.
The client has a credit period of approximately 60 days with its end client, while it needs to make payment to its vendors within 30 to 40 days.
The supplier client has been able to overcome the cashflow mismatch by using the Clearfin platform:
Supplier now receives its payments from its buyer(s) within 7-10 days from the invoice date through a completely digital Clearfin platform.
Clearfin enables the company to keep a check on the status of their invoices at all times supplied across more than 10 locations in India.
Regardless of the credit period, Clearfin now provides the supplier with an option to receive early payment on Invoices to manage working capital efficiently
Tracking of invoices on Clearfin platform helps the supplier make future strategies based on amounts expected with due dates as approved with its respective Buyers.
Clearfin enabled the supplier to increase its velocity of cash, resulting in its Business Growth.
Supplier strengthened its relationship with international players by making timely payments with help from Clearfin portal.
Outstanding invoices are tracked for acceptance across locations and original due dates; even slight delays are noticeable with the help of Clearfin portal and get managed in a timely manner.