Powered by the ‘Plug-and-Play’ technology of embedded-finance providers, Weavr, businesses will soon be empowered to settle invoices up to ten times faster with the new streamlined process.
Supply chains are often costly and complex but with its new solution, Troc Circle will ensure that businesses get paid through the netting of invoices, in an open network – regardless of the business’ accounting software – avoiding hold-ups in the payment process.
Following the launch, invoices can be settled quickly and at the live-currency market rate, allowing control over cash flow thanks to an 80-per-cent-lower processing cost.
Troc Circle, an established innovator in the world of global supply chains, initially launched its circle-netting solution in 2019. However, it was quick to recognize that this covered only three per cent of open invoices, whereas ‘chain netting’ reaches around 70 per cent.
By partnering with a likeminded innovator, Troc Circle benefits from Weavr’s comprehensive Financial Plug-in, which provides the full technical and legal framework required to onboard merchants and sellers, while also enabling payments to be processed via virtual cards.