Cleo, the pioneer and global leader in AI-native supply chain orchestration solutions and provider of the Cleo Integration Cloud (CIC) platform, today announced the launch of Cleo InvoicePay™, an industry leading embedded invoice financing solution that helps suppliers unlock immediate cash flow from their invoices.
Cleo InvoicePay, which is the company’s first offering under its suite of supply chain financing solutions, accelerates supplier cash inflow by enabling early payment for issued invoices. Instead of waiting net 30, 60, 90, or even 120-days, suppliers using Cleo InvoicePay can receive payments for their invoices within 24 hours – with the click of a button, all from within their usual workflow. No more waiting. No more cash flow challenges.
The solution brings much-needed liquidity and working capital flexibility to help suppliers bridge seasonal or business specific “cash gaps,” which usually occur when spend temporarily outpaces inbound payments. Suppliers leveraging Cleo InvoicePay benefit from the improved liquidity and additional working capital. They can deploy freed up cash to invest in innovation, fund growth initiatives, or even pay their own suppliers and employees.
The solution is available to any supplier transacting business through Cleo’s Web EDI Fulfillment Portal and Supplier Portal solutions. Suppliers simply select the invoices they wish to get paid faster, often receiving funds within the first 24 hours.
“Faster access to cash gives suppliers the ability to cover operating costs, strengthen working capital, and reinvest with confidence in their growth,” said Mahesh Rajasekharan, President and CEO of Cleo. “Only Cleo brings together the financial and operational supply chains to ensure suppliers have the necessary cashflows to profitably grow their businesses while strengthening their relationships with their customer ecosystem.”
How Cleo InvoicePay Works
Cleo InvoicePay is a pure cash flow accelerant solving liquidity challenges for all suppliers, including those who have extended payment terms with their customers. It delivers value by solving liquidity challenges for suppliers while accepting extended payment terms from their customers.
With Cleo InvoicePay, suppliers can choose the specific invoices they want to get paid faster and receive up to the entire value of their invoice value (less fees) upfront — which gives them immediate access to working capital without altering customer relationships. Financing within the solution is powered by Cleo’s financial partner, Kanmon, a licensed commercial lender.
Rajasekharan said he believes the new Cleo InvoicePay offering will deliver value to many suppliers in the Cleo Network for various reasons:
- It’s fast and easy.
- Improves liquidity to fund operations, payroll, and growth.
- Reduces Days Sales Outstanding (DSO).
- Provides cash-on-hand to respond to supply chain volatility, reinvest in R&D, talent, or strategic initiatives.
- Robust customer support.
Availability
Cleo InvoicePay is now available directly within the Cleo Web EDI Fulfillment and Supplier Portals. For more information, visit https://www.cleo.com/solutions/invoice-financing
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