Esker has deployed a new set of integrated payments capabilities and strategic FinTech partnerships to help businesses unlock cash flow, according to a press release.
The platform, called Esker Pay, will help improve cash flow management by getting rid of older processes for accounts receivable (AR) and accounts payable (AP), which are manual and often inefficient, the release said. .
Esker Pay, instead, will offer end-to-end payment automation, which strengthens supply chains by offering early payment discounts and supply chain financing options, the statement said. In addition, fraud prevention, late fees and negatively impacted cash flow issues are also discussed.
Esker strives to help companies achieve ‘true positive sum growth’ because in today’s economy, business success depends on customers, companies and suppliers generating value together rather than at the expense from each other, the statement said.
Suppliers need prompt payment from customers, and customers can benefit from paying suppliers and maintaining good relationships rather than taking the costly and risky process of bringing in new ones, the statement said. .
“The axiom that ‘money is king’ has only been reinforced in the past 18 months,” said Catherine Dupuy-Holdich, product manager at Esker, in the statement. “When times are tough for many businesses, getting paid and paying suppliers on time can be a big challenge. With Esker Pay, we offer the technologies and partnerships to facilitate and accelerate payments.
Esker partners with FinTechs such as Stripe, Jack Henry, Pytheas Capital Advisors, Payroc and SlimPay to provide domestic and international payments, supplier payment automation, supply chain finance, dynamic discounting , integrated payment methods, factoring, prepayment discounts and payment information. verification, the statement said.
Other Esker news, the company has partnered with KPMG Finance, which works in auditing and consulting, to support the digital transformations of companies.
Read more: Esker, KPMG team on electronic invoicing