AI enhances Taulia
Companies now have the power of AI at their fingertips to make better informed decisions about their working capital and cash with the next-level enhancement of Taulia’s platform (www.taulia.com).
The platform taps into aggregated data on supplier behaviour, such as the historic timing of payments and the annual percentage rate (APR) accepted by suppliers when taking early payment, plus other factors including seasonality. By overlaying this with external data sources, the platform informs and simplifies the decision-making process for businesses operating early payment programs.
Suppliers using the platform can receive offers based on their historical behaviour, including – but not limited to – the timing of early payments taken, the APR they are willing to accept and any fluctuations in their financial position.
“The increasing availability and precision of prediction means our customers will be able to execute their working capital strategies with less risk and more reward,” says Vincent Beerman, Senior Director of Product at Taulia.
“Suppliers receive timely offers at the best rate available, adding strength and confidence to the buyer-supplier relationship. Already, buyers have noted a threefold improvement in their early payment efficiency, meaning that more suppliers are making use of the available early payment offers.”
“This is an exciting and massive achievement for Taulia," added Cedric Bru. "We are the first working capital solution provider to harness the power of AI and bring it to our clients’ fingertips. This step in our product journey is all about bringing knowledge and decision-making to our clients to make early payment programs stronger, more efficient and more cost effective for all parties in the supply chain.”