As per a press release, Esker has launched a fresh set of integrated compensation facilities and strategic FinTech coalitions to enable industries to unlock cash flow. The B2B platform, dubbed Esker Pay, will enable to improve cash flow supervision by getting rid of older-style methods for accounts payable (AP) and accounts receivable (AR), which are often ineffective and manual based, the publication noted.
Esker Pay, instead, will provide end-to-end expense automation, which enhances supply chains by giving supply chain financing options and early payment discounts, according to the publication. Besides, fraud prevention, negatively affected cash flow, and late fees concerns are also sacked. Esker acts to assist companies to attain “true positive-sum growth” as the new economy has industry achievement hinging on consumers, suppliers, and companies creating value concurrently rather than at one another’s payment, the release noted.
As per the release, B2B platforms require quick payment from clients, and clients can earn from compensating suppliers and protecting good connections rather than attempting the risky and costly action of onboarding new ones. Esker Product Manager Catherine Dupuy-Holdich noted in the release that the saying that ‘cash is king’ has been strengthened over the last 1.5 years. “When times are tough for many businesses, getting paid and paying suppliers on time can be a tall order. With Esker Pay, we offer the technologies and partnerships to facilitate and expedite payments.”
With Esker Pay, they give the partnerships and technologies to expedite and facilitate payments. Esker is teaming up with FinTechs like SlimPay, Payroc, Pytheas Capital Advisors, Jack Henry, and Stripe to provide international and domestic payments, early payment discounts, factoring, integrated payment methods, dynamic discounting, supply chain financing, supplier payment automation, and payment data verification, according to the release.
In other Esker reports, the B2B platform teamed up with KPMG Finance, which specializes in consulting and auditing, to reinforce digital modifications for corporations.