The unified Commerce Engine by Priority Technology Holdings will help your business boost its liquidity. It will speed up accounts receivable, automate payables, and maximize working capital.
Manual processes and fragmented systems may threaten the liquidity of your business. Many companies today struggle due to inefficient workflows for Accounts Payable (AP) and Accounts Receivable (AR), which can be resource-draining. But Priority Technology Holdings LLC provides a unified commerce platform that can help you automate workflows and optimize working capital. If you want to learn more about the ways in which Priority Technology Holdings (PRTH) improves cash flow management, then keep reading.
Ways Priority Improves Cash Flow Management
Here are the ways in which Priority Technology Holdings LLC can improve your organization’s cash flow management.
Integration of the Unified Priority Commerce Engine
The unified Priority Commerce Engine will improve cash flow in your organization by integrating Payables, Receivables, and Banking. It is recognized for helping organizations speed up incoming payments and optimize AP and AP payment timing.
The commerce engine will also help you reduce manual errors, enhance visibility, secure capital, and streamline reconciliation. It serves as a single platform approach, thus eliminating solos. By offering this single source of truth, Priority Commerce Engine improves financial visibility and decision-making.
Full-Service AP Automation with CPX
Priority Technology Holdings LLC offers its Commercial Payments Exchange (CPX) platform for full-service AP automation. The solution will improve cash flow in your organization in a number of ways. It will speed up invoice processing, thus capturing early patent discounts. It will also eliminate paper checks for faster and digitalized payments. This also means that manual errors and duplicate payments are reduced.
CPX will also enable 100% electronic workflow, thus letting you save on processing costs. Additionally, you will also be able to improve vendor relationships with faster and more reliable payments. CPX also enables visibility into cash flow and liabilities in real time, and can help you optimize working capital via flexible copayment scheduling.
Faster AR and Same-Day Funding
PRTH can enhance cash flow in your organization through 7 main ways. It will enable automated invoicing, instant payment links, and integrated Automated Clearing House (ACH) or card options. These features are noted for speeding up AR.
Solutions by Priority Technology Holdings LLC also support same-day funding, which will provide you with secure and immediate access to funds. So, the Days Sales Outstanding (DSO) will be cut for you, and you will be less dependent on credit. Ultimately, your organization’s liquidity will be boosted, reconciliation will be improved, and working capital will be maximized for growth.
Flexible B2B Payments via Plastiq
The Plastiq platform by PRTH will improve cash flow in your organization by enabling Business-to-Business (B2B) payments via ACH or credit card, even if cards are not accepted by vendors.
Your business can defer payments by 60 to 90 days, optimize working capital, earn card rewards, and automate reconciliation. So, your company’s liquidity will be enhanced, and payables will be streamlined. You won’t require traditional loans for that.
Virtual Card usage for Working Capital
Virtual cards by Priority Technology Holdings LLC can enhance cash flow in your company. This is made possible by leveraging extended credit terms or float to delay cash outflows and by maximizing credit card rebates.
The virtual cards enable secure and immediate supplier payments while also letting you conserve working capital. This means that you can continue focusing on strategic business growth, automating reconciliation, reducing fraud risks, and streamlining AP.
Embedded Banking and Cash Management with Passport
Passport, an embedded banking platform by PRTH, will improve cash flow in your organization in a number of ways. It allows same-day funding on closed batches, thus reducing cash-in-transit delays.
Your working capital will be optimized through automated reconciliation, dedicated sub-accounts, and investment opportunities for idle funds. Moreover, with transparent real-time dashboards, you will get instant visibility for efficiently managing liquidity.
Supplier Enablement and Automated Reconciliation
Priority Technology Holdings LLC will also help you improve cash flow in your organization by automating reconciliation. This will reduce manual errors and speed up your AP cycles. Moreover, with dedicated supplier onboarding, Priority’s solutions will help you speed up the adoption of digital payments, with cards and ACH supported. Hence, the accuracy of payment timing will be improved.
Overall, your working capital will be streamlined, and late fees will be reduced. You will have real-time visibility into financial positions in your organization.
Ready to Enhance Cash Flow with Priority?
Automated payables and faster receivables with PRTH can transform your fragmented financial processes into a streamlined strategic asset. The platforms developed by Priority will help you optimize your working capital, boost your company’s liquidity, and enhance financial visibility. So, your business can make AP a competitive advantage, thus ensuring sustainable financial growth. Explore the solutions, reach out to Priority Technology Holdings LLC today!
