June 20, 2018
Sheila Jordan runs a successful consulting firm that provides organizational development leadership training for large public transit and government agencies. She was already a NOW Corp client, and knew that NOWaccount helps businesses scale up. But when her company Knowledge Architects, LLC was ready to launch a new service area developing mobile apps for maintenance management, she was worried.
How are we going to strategically operate both businesses and grow them at the same time?” she wondered.
Access to capital can make or break a business, particularly during the scaling up growth phase. With bigger contracts and larger customers comes the custom of offering extended payment terms. It’s not uncommon for Fortune 500 companies to ask for terms that can extend to 120 days. Accounts Receivables balloon, but suppliers and payroll won’t wait to be paid. The unfortunate result for these fast-growing companies is that their biggest potential source of capital—their own A/R—lies out of reach because they’re waiting to get paid.
More businesses GROW out of business than GO out of business, simply because they aren’t getting paid on time.
Sheila solved this problem creatively by leveraging her relationship with NOW Corp.
NOWaccount gave us access to our operating capital on a monthly basis, consistently,” explains Sheila. “That helped us launch the new business within 18 months, and to grow from $1.5 million to $18 million in two years.”
NOWaccount is an innovative payment solution that pays B2B/B2G businesses immediately. Nothing changes for their end customer, who still gets an invoice with terms and pays later. NOWaccount helps businesses scale up by paying their actual revenue in days. Learn how it works.
Hala Moddelmog, President & CEO of the Metro Atlanta Chamber of Commerce notes, “NOWaccount really helps with our small and medium sized businesses that are trying to grow, and for our Fortune 500 companies as they look for new suppliers who can meet their needs.”