Esker has rolled out a new set of integrated payment capabilities and strategic FinTech partnerships to help businesses unlock cash flow, according to a press release.
The platform, called Esker Pay, will help boost cash flow management by getting rid of older-style processes for accounts receivable (AR) and accounts payable (AP), which are manual based and often ineffective, the release stated.
Esker Pay, instead, will offer an end-to-end payment automation, which reinforces supply chains by providing early payment discounts and supply chain financing options, according to the release. In addition, fraud prevention, late fees and negatively impacted cash flow concerns are also tackled.
Esker works to help companies achieve “true positive-sum growth” as the current economy has business success hinging on customers, companies and suppliers generating value together rather than at one another’s expense, the release stated.
Suppliers need prompt payment from customers, and customers can benefit from paying suppliers and maintaining good relationships rather than undertaking the costly, risky move of onboarding new ones, according to the release.
“The axiom that ‘cash is king’ has only been reinforced over the last 18 months,” said Esker Product Manager Catherine Dupuy-Holdich in the release. “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.”
Esker is partnering with FinTechs like Stripe, Jack Henry, Pytheas Capital Advisors, Payroc and SlimPay in order to offer domestic and international payments, supplier payment automation, supply chain financing, dynamic discounting, integrated payment methods, factoring, early payment discounts and payment information verification, the release stated.
In other Esker news, the company partnered with KPMG Finance, which works in auditing and consulting, to bolster digital transformations for companies.
Read more: Esker, KPMG Team on eInvoicing
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