The TradeCard Early Payment Program - An Innovation in Working Capital and Risk Management
On the Supplier side:
"With TradeCard's Early Payment Program, we know exactly when and how much money to expect into our account. This gives us much better control over our cash flow. Having enough cash available means that we get discounts for purchasing materials and that we can reduce redundant capital."
- Mark Lu, General Manager, New Star, Taiwan
"Our business with Burton increased by 56% percent this last year. Supporting this growth on 30-day terms stretched our cash thin. We had to hire 60 more people and start purchasing far more raw materials. Now that we can opt for five-day payment terms, we have the cash we need to support Burton and grow our business."
- Doug Barbor, President, Trak Sports
On the Buyer side:
Tom D'Urso, treasurer of Burton Snowboards, the top global snowboarding brand, says, "Our trade transactions created mountains of paperwork, which made it tough to capture early payment discounts. By automating these transactions [on TradeCard] we're able to offer suppliers payment in five days at a discounted rate. We're surpassing the return we saw from extending payment terms. Plus, we no longer tie-up time and working capital with letters of credit."
For more information, please go the Burton Snowboards press release.
To sign-up for the program or obtain more information, please email epp@tradcard.com.
