Supplier Company / Employee Benefits
As a technology company, PayMeFaster’s services to our clients (suppliers) are above and beyond traditional finance or factoring companies. We provide analytics and alerting capabilities that allow you to more quickly react to market or buyer-specific conditions that might put your orders at risk. Being alerted to your specific buyer conditions will help you determine when, where, and how you deal with that risk. In short, “knowing provides educated decisions” - the unknown is impossible to manage. The technology component of our company is fully integrated into our transactions, which makes us much more of an information services partner along with a provider of financial services.
Contact a member of the PayMeFaster team to learn more.
Concentration Data Reports
Our dashboard views provide receivables concentrations between you and your buyers, whether that's in-network or out-of-network. These reports are based on the invoices purchased by PayMeFaster along with other outside agency reports. These might include credit ratings reports from D&B and Experian, on a per request basis. The credit rating information is shared indirectly in a summary format from PayMeFaster.
PayMeFaster allows customers to have dashboard views of the customer's in-network accounts receivable aging, and out-of-network aging reports (subject to the receipt of access to such information). Future options will include integration into the customer’s accounting package to allow a more thorough view of their receivables aging report.
Days Payable/Payment Deterioration Reports
Customers desire information with respect to their buyers' Average Days Payable, Payment Deterioration, and Payment Trends (a customer’s potential days receivables outstanding). We can provide insight into this with reports aggregated from our various buyer and supplier transaction history.
PayMeFaster provides to our customers to let them know an if end buyers' payment performance has changed. These alerts are based on credit ratings reports obtained from D&B and Experian and internal knowledge derived from our transaction knowledge within the network of buyer-supplier transactions
Non Payment Alerts
Based on PayMeFaster's knowledge of transactional data, we will provide alerts to suppliers for buyer related non-payment trends and account activity that is out of normal ranges (e.g. payments quickly go from 90 days to 120 days).
Credit Risk Analysis
Clients can request a credit analysis of their buyers, current or future. We will provide summarized information based upon internal data as well as data obtained from D&B and Experian. We will additionally offer recommendations and/or guidelines on the extent of credit their customer should receive.
As a technology company, we can provide much more insight into a customer’s flow of transactions. As part of our data integration, we provide month-to-month, quarter-to-quarter, year-over-year views along with end of month, quarter, or year comparisons. The technology component of our company is fully integrated into our transactions, which makes us much more of an information services partner along with a provider of financial services.
As invoices become due, PayMeFaster is programmed to alert debtors that the payment date is approaching or has occurred and we follow-up on slow-pay or no-pay clients. This offloads significant effort (and risk) from the supplier. Many suppliers simply aren’t staffed or “expert” in collecting their receivables, so slow-pay debts become increasingly problematic. Our services alleviate much of this risk and effort, saving time and staff for the supplier to concentrate on their core business.
Supplier Company / Employee Benefits
We will be working with local and international software companies to provide partnerships & discounts on various software packages (e.g. discounts on Microsoft Office, Wave accounting, and other software/accounting packages)
PayMeFaster will, in the future, provide a loyalty program for clients and their employees. The loyalty program may include:
- Earning redeemable points based upon transaction volume.
- Offering a Visa or MasterCard that additionally earns bonus points.
- Offering an aggregated spend discount program with credit or virtual cards (e.g., fleet fuel cards).
We will be happy to provide referrals to top-tier law firms and accounting firms in Israel on an as needed basis. We have relationships with senior personnel in these organizations who will respond quickly to various customer needs.
Additionally, PayMeFaster will provide upper-tier customers with limited free legal and accounting advice from local law firms and accounting firms.