Utilising Early Payment Solution for a Stronger and Cost Effective Supply Chain

In today's construction industry, cash flow management is more critical than ever. With rising costs and increasing supply chain risks, optimising your financial strategies can be the key to sustaining growth and profitability.

What is Early Payment Solution?

Early Payment Solution is a platform that provides early payment to Subcontractors and Suppliers for work done and goods delivered. This solution provides immense benefits to Main Contractors and their Subcontractors by generating much needed cash flow to the supply chain, and concurrently increase cost savings for the Main Contractors.

Key Benefits for Your Supply Chain

Cost Savings & Profitability

• Early payment discounts reduce overall project costs, allowing you to reinvest savings into new ventures or pass on the benefits to your clients, enhancing your competitiveness in the market.

Stronger Supplier Relationships

• Offering early payments ensures that your suppliers and subcontractors can meet their financial obligations, which helps to maintain timely project delivery and supports a healthier financial ecosystem in the construction industry.

Risk Reduction

• By stabilising your supply chain through early payments, you mitigate the risks of delays caused by supplier cash flow issues, ensuring smoother project execution.

Leverage Technology with Hubble.Financial

To fully maximise the benefits of early payment solutions, leveraging the right technology is essential. Hubble.Financial’s Early Payment Solution is a cutting-edge digital platform specifically designed for the construction industry. Here's how it can transform your operations:

Digital Onboarding for Streamlined Processes

• Efficiency is key. Invite and onboard your suppliers and subcontractors digitally, eliminating manual errors and speeding up transactions. This ensures you never miss out on valuable discounts and can reconcile payments with ease.

Centralised Dashboard for Tracking & Reporting

• Effortlessly review requests and access vital information, such as early paid invoices, earned discounts, and reconciliations. Our platform provides a transparent and user-friendly interface for buyers and main contractors.

Simplified Request and Approval Management

• Subcontractors can raise early payment requests directly through the platform, ensuring timely processing and transparency throughout the entire payment cycle.

Comprehensive Support for Implementation

• Hubble handles the heavy lifting, from running outreach campaigns to onboarding your suppliers, ensuring a smooth transition and maximising the benefits of early payment solutions.

Success Story

Early payment on invoices has been proven to be a valuable tool to generate much needed cash and working capital to many suppliers and subcontractors. Invoices taking 60 to 90 days to be paid can now be paid instantly upon request. The supply chain of main contractors and major shipyards have benefited from this solution. Our customised approach, which includes flexibility to pay early for invoices, claims, and retention sums, has significantly improved cash flow and operational efficiency of many in the industry.

Interested in Learning More?

If you're looking to strengthen your financial strategy and reduce supply chain risks, feel free to reach out to us here to discuss how Hubble.Financial's Early Payment Solution can benefit your operations.