Leverage Supply Chain Finance Technology to Disrupt the Status Quo

by Aug 1, 2019Factoring, Supply Chain Finance

In today’s marketplace, if you do not adapt or disrupt, you are left in the dust by the competitor who was nipping at your heels. Reflect back on some industry leaders who became complacent or reluctant to accept technological change. Sears and Toys R Us were distrupted by online shopping giants like Amazon. Taxi cab companies were disrupted by the likes of Uber and Lyft. Blockbuster was eliminated by online streaming companies, Netflix and Hulu. Technology can create disruption in the blink if an eye; and if management is not continually reviewing and implementing technological advances, their operational efficiency is diminished and may result in obsolescence. According to the 2017 Deloitte Global Human Capital Trends, only 12% of Fortune 500 companies around in 1955 are still in business today. What changed? Technology happened, and this created disruption!

Technology applies to virtually every business. Companies today continually look at ways to increase their operational efficiency by leveraging technology. Supply Chain Finance is an area technology is disrupting right now and is simplifying the A/P process, resulting in win-win solutions for both buyers and suppliers. Implementing an effective supply chain finance program can simultaneously meet the cash flow needs of the buyer by extending the payables cycle, while shortening the receivables cycle for suppliers.

Determined to provide an easy technological solution, FTF Financial Group created the QuickPay program, which satisfies both parties’ cash flow needs. Buyers utilizing FTF’s QuickPay increase accounts payable operational efficiency, increase supplier satisfaction and reduces the cost of capital.

Proactive companies that leverage technology to embrace change are the disruptors and leaders in their respective industries. Supply chain finance adoption allows companies to become stronger and more competitive. Contact Melissa Huckins today to see how easy it is to implement a QuickPay program with your company!