To provide vendors with control over how and when they receive their payments, the Qwil Supplier Payment Optionality Solution has become available on the SAP App Center. The technology is integrated with the SAP Fieldglass solution per an announcement.
Qwil said the payment optionality technology lets SAP Fieldglass customers bring in more specialized and diverse contingent workforce suppliers as well as boost the adoption of contingent workers, while turning on international payments easily.
Invoices in one currency can be changed over to the local currency in smaller international markets, which speeds up worldwide contingent worker deployments.
Qwil Co-Founder and CEO Johnny Reinsch said in the announcement, “The integration of our Supplier Payment Optionality with the SAP Fieldglass vendor management solution, provides payment options that help businesses get paid how and when they want.”
Reinsch continued, “Through our partnership with SAP, we are able to provide the outstanding benefits of our solution to tens of thousands of suppliers in the SAP Fieldglass ecosystem. Now these suppliers can choose their payment terms, putting them in the driver’s seat for the cash flow of their business on any given day.”
Qwil is a partner in the SAP PartnerEdge program, which allows it to create, promote and sell software applications on top of SAP’s technology platforms. Businesses can find roughly 1,800 partner solutions that work with and grow SAP solutions at the SAP App Center.
The SAP-validated technologies can be organized by industry, product line, use-case scenario and solution type.
In December, news surfaced that Qwil notched $24.4 million in equity in addition to $200 million in debt funding. The company works with on-demand marketplaces and freelancers to let workers get paid faster than the due dates of invoices.
The firm, which was co-founded by Reinsch in 2015, does not examine traditional credit scores when deciding on loan eligibility. It uses different data such as payment information, which helps to keep the firm’s costs at a manageable level.