Cashflow has been a pain point for businesses of all sizes across various industries throughout history.
Fast forward to today and Australian businesses wait anywhere from seven to 60 days for customers to pay and are often chasing late payments beyond their terms.
Cashflow cycles don’t often align between a supplier and their customers. Cashflow gaps mean suppliers can struggle to pay ongoing expenses and other essential business costs.
It also means businesses are essentially acting as Australia’s fifth-largest bank, with Shift research showing businesses are providing an estimated $1.3 trillion annually in trade credit. Most businesses don’t have the infrastructure, technology, cashflow or resources to act as finance providers or manage complex credit programs.