How to get back to business during the pandemic.
In the best-case scenario, reopening your company during COVID-19 would mean business as usual. And you’d only have to do it once. Unfortunately, we’ve seen this is not the case. Deciding when or how to hit the restart button can give way to anxiety, worry, and confusion. We’re here for you. From better cash flow to paying vendors, here’s how auctioning off unpaid invoices on Crowdz’s marketplace can help you and your team get back to work.
Supply chain flexibility
As you grapple with the new hurdles of reopening, so are your vendors and suppliers. Shipping delays, repeated closures, and new restrictions are appearing across industries. More than ever, steady cash flow is crucial to keeping your vendor and supplier relationships strong. Leveraging your account receivables on Crowdz gives you instant cash to cover vendor costs. It can also provide the means to diversify your portfolio. Should future closures and restrictions prevent vendors or suppliers from delivering, you’ll already have options.
Payroll expenses
We could all use some added stability right now—your staff included. Auctioning off your account receivables is one way to do it. You’ll find a full breakdown here, but here’s a quick refresher on how it works:
- Auction your invoices (as many as you like) on Crowdz.
- Choose the most competitive fee from pre-vetted funders
- Receive your cash immediately
- Use funds to cover payroll
- Repeat as needed
Funding safety measures
Whether you’re investing in protective gear for employees, disposable goods for customers, new signage, or pool noodle hats (yes, that’s a thing), taking precautions can come at a cost. How do you cover extra safety expenses without extra revenue? Leveraging your unpaid invoices with Crowdz is one way to do it. Our auction puts money on the books quickly and allows you to control when and how many invoices you sell at any given time. So when the next protective measure arrives, you’ll be ready.
Making the online shift easier
Adopting technology can be tough on any business, but for SMEs, it has been a scramble. What might have taken years to implement has taken weeks. Then there’s the learning curve. With this in mind, we made signing up, selling, and securing capital on Crowdz easy. Don’t expect to pre-vet funders, hunt down hidden fees, or chase clients for payments (we’ve taken care of all that). Everything you need to secure a faster approval and multiple competitive bids is built right into our platform and accessible from wherever you or your accounting department might be.
In this moment of chaos and anxiety, we want to ensure we’re empowering your business every way we can. Got questions? Drop us a line here.
