AN INTERVIEW WITH MARGARET CARR, TITAN INDUSTRIAL SYSTEM & SAFETY SUPPLY
Titan is a wholesale distributor of industrial and safety supply equipment. They're considered a small woman-owned business, with 7 employees. The business is directed to the municipalities, the local cities, counties, and also the ag industry.
Margaret Carr describes Titan as "friendly", with personal relationships with their customers. "We get to know most of our customers who come in on a regular basis pretty well."
Recently, Margaret's been asked by one of her customers, a major utility, to begin using their online vendor portal, powered by Taulia, to manage invoicing.
Carr says it's going well, "The portal is easier. It’s nice to know that I can go in and track all the payments, and track the invoices, and able to track all the orders and stuff too. I think it’s great. It’s a plus."
When asked how it compares to other portals, Margaret says ,"This is the first sort of portal I’ve used. It’s interesting to see how this is going to affect changes with people, invoice process or business process. Hopefully we’ll close that gap a little more, you know, create a little bit more transparency within the business process for everybody."
She's still relationship focused- and that extends to invoicing side- her close customer relationships translate into flexibility in payments. Margaret says, "I have some customers that pay in 10 days, but the majority of the people pay, I would say, 30 to 45. Most of the people I know, I know the customers so I grant them that little bit of leeway."
The company manages their cash flow without much stress, and hasn't yet requested an early payment with an offered discount through the vendor portal. "I think I'd rather have the 1%",Carr jokes," but you never know- we're learning every day."