Solving the Cash Flow Crunch
Turns out ‘net 30’ on the invoice was just a suggestion,” says Hodgson.
She secured net 60 terms from her suppliers. But 60 days came and went without receiving the payment. She received another order instead, an order she couldn’t deliver.
NOW Corp President & CEO Lara Hodgson
This same cash flow crunch challenges every B2B company as they scale up to take larger orders from larger customers.
More business GROW out of business than GO out of business.
Waiting to get paid is giving a free loan to the customer.
Over lunch one day, Lara realized that no one leaves the restaurant without paying – that would be stealing.
Retailers get paid immediately and their customers defer payment by paying with a credit card.
But B2B companies? They’re asked wait, all the time.
An engineer by training, Hodgson set out to solve this core problem for businesses.
With her partners, she created NOWaccount®.