LSQ FastTrack® Expands Capabilities To Improve Access To Working Capital For More Businesses
ORLANDO, Fla., June 23, 2021 /PRNewswire/ -- LSQ, a leading provider of technology-driven working capital solutions, announces the expansion of its working capital platform, LSQ FastTrack®, to provide businesses of all sizes accounts payable (AP) financing (supply chain finance), but also dynamic discounting and accounts receivable (AR) financing.
The unified platform allows for a single interface for businesses to fill their unique working capital needs. With supply chain finance and dynamic discounting, buyer companies can provide their sellers with early payments using their own balance sheet or third-party funding. With the integrated AR financing functionality in FastTrack, seller companies can accelerate payment of all of their receivables, even if their buyers do not participate in a supply chain finance program.
"For many of the companies we have worked with, we've found that the working capital needs aren't as straightforward as 'we just need an AP financing solution' or "we just need an AR financing solution,'" said Don Renyer, LSQ's Chief Product Officer. "By providing a single integrated solution for supply chain finance, AR factoring and dynamic discounting clients have a more comprehensive and efficient way to monitor and manage their cash flow and overall financial health."
FastTrack affords users the ability to securely upload invoices from any device to access working capital and gain real-time insights into their customers' credit. Additionally, the platform automates invoice digitization - eliminating manual entry - outsources collections to LSQ's team and generates on-demand reports on invoice performance.
"By syncing our long history of AR finance with our supply chain finance platform - and adding dynamic discounting - LSQ is uniquely positioned to assist companies across a diverse range of credit profiles and size with a solution for their liquidity challenges," said Vikas Shah, LSQ's EVP for Supply Chain Finance. "For many companies, access to working capital is their biggest barrier to growth and we want FastTrack to be at the center of making that access easier."
To help companies better understand the working capital options available through FastTrack, LSQ has launched a new web experience with expanded resources and functionality.
About LSQ | lsq.com
LSQ has been deploying working capital for 25 years, delivering more than $25 billion to thousands of small, medium and large enterprises. LSQ's breadth and depth of experience across a broad range of industries enables us to deliver value beyond capital. From manufacturing, energy, utilities and high tech to healthcare, retail and professional services firms, LSQ delivers a unified platform for working capital management that can deliver optimized liquidity and cash flow management for any company. Learn more about our working capital solutions at www.lsq.com.
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SOURCE LSQ Funding
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