That’s exactly what AP Acceleration from Kompass Funding does. You’ll strengthen your supply chain, which strengthens your financial health, improves your relationship and credibility with suppliers and vendors, and provides your business a new revenue stream through our Revenue Sharing program.
How AP Acceleration improves my financial health.
Large staffing agencies who subcontract work for their clients can leverage Kompass Accelerate to pay their affiliate consultants in 24-48 hours, without changing their normal payment terms.
Developers can fund their construction partners faster through CRE Accelerate.
5G implementation has increased projects and invoices for many companies which typically include long approval times and payment processes. Kompass Accelerate can get funds in the hands of your contractors or subcontractors faster so they can continue taking on new projects.
Your company can only grow as fast your suppliers can keep up with demand. Accelerate can strengthen your supplier or vendor base by getting them the funds they need when they need it.
If you are sitting in a good cash position but looking for alternative ways to make money, our Accelerate program provides a solution where you earn revenue by allowing us to accelerate your AP on your behalf. There are no costs to you, and it is optional for your supplier or vendors. Kompass Accelerate also reduces costs in your AP department, so now your department is revenue-generating.
Cut down on the number of vendor or supplier payments, eliminate requests for early or one-off payments, and create stronger relationships with your vendors or suppliers. You pay Kompass Funding according to your normal terms and we take care of the rest.
AP Acceleration bridges the cash flow gap
for staffing providers.
Favorite Healthcare Staffing is one of the nation’s fastest-growing staffing providers, offering a full range of workforce solutions including local per diem and travel staffing options for nursing and allied health professionals. With over 40 years in the healthcare staffing industry, Favorite has built a strong national and international footprint, partnering with over 300 affiliate vendors.
Historically, the staffing industry is afflicted by longer payment terms (30, 60 or even 90 days) due to a diverse collection of customers, varying in size, industry and business model.
TrustCare Health, an affiliate vendor of Favorite Healthcare Staffing, is a privately owned Mississippi-based health company with several urgent care clinics. TrustCare was facing challenges when it came to long payment cycles and low capital, leading to a stressful payroll cycle and inconsistent or even low cash flow to cover additional operational expenses.
Providing opportunities and improving business growth for their affiliate vendors and suppliers, Favorite Healthcare Staffing was looking to invest in creative ways to provide opportunities and accelerate business growth for their affiliate vendors and suppliers.
Favorite found the benefit in partnering with Kompass Funding who identified a gap in Favorite’s accounts payable process and opened the door to a new solution – Kompass Accelerate, an accounts payable program that quickly finances all of Favorite’s affiliate vendor invoices for a small fee.
Since 2022 Kompass Funding has accelerated over $3 million to Trustcare in invoices from Favorite Healthcare and significantly reduced the pay cycle from a 45-day pay term to a 7-day pay term. Additionally, the detailed invoice reports provided by Kompass Funding ensure TrustCare’s ability to accurately invoice and bill – even alerting the appropriate parties if a discrepancy occurs.
“Receiving accelerated payments from Kompass Funding is the exact solution our business needs – it checks all the boxes,” a representative of TrustCare Health said. “Going from payment every 45 days to payment once a week means we don’t have to stress about payroll – the cash flow is there to cover our operational expenses. And there’s a sense of freedom that comes with consistent capital on our balance sheet where we can focus on growth; we didn’t have that luxury before.”
Is your company struggling with cash flow and available capital? If so, Kompass Accelerate could be the solution you’re looking for.