Taulia Enhances Platform with New Artificial Intelligence Capabilities in a World First for Working Capital Solutions
SAN FRANCISCO--(BUSINESS WIRE)--Mar 21, 2019--Harnessing the latest developments in AI technology, Taulia’s upgraded platform supports simplified, informed decision-making and strengthens the buyer-supplier relationships.
Companies now have the power of AI at their fingertips with the next-level enhancement of Taulia’s platform. The platform taps into aggregated data on supplier behavior, 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 to receive offers based on their historical behavior, 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. Suppliers therefore receive timely offers at the best rate available, adding strength and confidence to the buyer-supplier relationship. Already, buyers have noted a three fold improvement in their early payment efficiency, meaning that more suppliers are making use of the available early payment offers.
Vincent Beerman, Senior Director of Product at Taulia, who recently wrote an article on harnessing the power of AI, said: “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.”
Cedric Bru, CEO of Taulia, further added: “This is an exciting and massive achievement for Taulia. 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.”
Notes to editors: Taulia delivers working capital solutions that make it easy for businesses to free up cash, accelerate payments and improve supply chain health. Since its foundation in 2009, Taulia has envisioned a world where every business can thrive by liberating cash using our state of the art platform. Today our team of financial game changers has built a network connecting 1.6 million businesses across 168 countries and has accelerated more than $91 billion in early payments. Taulia is headquartered in San Francisco with locations across the United States, Europe and Asia Pacific.
Taulia website: www.taulia.com
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PUB: 03/21/2019 11:00 AM/DISC: 03/21/2019 11:00 AM