At Saltare, our vision is to develop a series of tools that bring the certainty of payment, and the certainty of cashflow, that support both ends of the supply chain. We want to change the way business payments are made and received, by developing digitally-based tools to encourage larger organisations to get money into the hands of their smaller suppliers quickly and benefit directly by doing so through discounts and other preferential terms.
For buyers, we deliver a way to support job creation, investment and social value, while generating financial benefits and operational efficiency.
For suppliers, we remove the need to chase payments while also providing them the simplest and most convenient way to get paid sooner.
Our first product, Early Pay is a ground-breaking tech-driven solution that will improve the flow of cash to the entire supply chain in a way that works for everyone. Early Pay is a quick, simple, convenient way to facilitate payments. Giving buyers cash incentives to pay early and suppliers the security of knowing when they will be paid. Its works by a simple integration with a buyers ERP system. Once the buyer approves an invoice, Early Pay will notify the supplier. The buyer can offer to pay early (and benefit from a small discount), and the supplier can accept the offer if they wish to, in just three clicks. There’s no obligation either way, but the suppliers will have the peace of mind of knowing exactly when they’ll be paid. And knowing that invoices will be paid and by when – coupled with the option of an early payment – reduces anxiety and increases supplier wellbeing.
There are also huge social value benefits due to its inclusivity, the fact that it makes the supply chain more effective, increasing focus on value add and allowing suppliers to reinvest in innovation, job creation and growth. All of this can be a lifeline to levelling up and supercharging growth, especially for the often underserved SME’s.