Exostar Partners with Taulia to Deliver Supply Chain Finance Solution to Aerospace and Defense Industry
Offering Aligns Buyer and Supplier Organization Interests to Better Manage Working Capital and Cash Flow
HERNDON, Va. & SAN FRANCISCO--(BUSINESS WIRE)--Exostar, whose cloud-based solutions help companies in aerospace and defense, life sciences, and healthcare mitigate risk and solve their identity and access challenges, and Taulia, the leading financial supply chain company, today announced a partnership to bring the benefits of supply chain finance (SCF) to the aerospace and defense (A&D) industry. Exostar's community of over 100,000 A&D buyer and supplier organizations now can simply and securely use Taulia’s Software-as-a-Service (SaaS) SCF offering through the Exostar platform.
Exostar & Taulia bring secure SaaS supply chain finance solution to A&D. Buyers save $M's, suppliers get $ faster.Tweet this
To strengthen their balance sheets and improve operational performance, businesses must build their cash positions and optimize working capital. Buyers are extending payment terms to their suppliers from 30 days to 120 or more. In A&D, this move could potentially jeopardize the performance of global, multi-tier supply chains by introducing supplier cash flow challenges that could delay or even cancel delivery of critical goods and services. Small-to-medium size suppliers are more acutely affected.
“While 77% of suppliers say they want to be paid within 30 days, in reality, only 27% are. At the same time, 70% of suppliers indicate they would be willing to pay a small fee in order to accelerate invoice payment,” said Doug Russell, Exostar’s Vice President of Supply Chain Solutions. “Our partnership with Taulia gives all organizations in our A&D community the opportunity to choose when they receive payment, from the day an invoice is approved to the day it is due.”
Taulia’s cloud-based, comprehensive, secure commerce platform connects buyer and supplier organizations as well as financial institutions. To date, more than $250 billion worth of transactions have flowed through the Taulia network. For the A&D community, the Exostar and Taulia relationship delivers the following benefits:
“Together, with Exostar, we are now able to offer the market a comprehensive financing solution that not only helps buyers to manage their working capital but also empowers suppliers of all sizes to efficiently obtain financing at a competitive and fair borrowing cost, all on a unique secure platform,” said Vikas Shah, Taulia’s Vice President of Ecosystem and Partnerships.
Big bank SCF programs in A&D have focused on large suppliers with sound credit ratings. Now, suppliers of all sizes in Exostar’s A&D community have easy, secure access to these compelling advantages. By better aligning buyer and supplier interests throughout the A&D supply chain, Exostar and Taulia are fundamentally shifting the nature of business from potentially contentious to collaborative.
Attend the December 6th webinar, “Flexible Financing for Your Supply Chain,” to learn more about how Exostar and Taulia enable organizations to develop a successful SCF program powered by security and technology.
Exostar, named a Cool Vendor for 2016 by Gartner, offers cloud-based solutions that help companies in highly-regulated industries mitigate risk and solve identity and access challenges. Nearly 125,000 organizations leverage Exostar to help them collaborate securely, efficiently, and compliantly with their partners and suppliers. By offering connect-once, single sign-on access, Exostar strengthens security, reduces expenditures, and raises productivity so customers can better meet contractual, regulatory, and time-to-market objectives. www.exostar.com.
Taulia is the financial supply chain company powering the connected global economy. Taulia’s easy-to-use platform offers choice in when and how to pay and get paid and better access to working capital for both buyers and suppliers. Taulia connects companies across more than 130 countries and has freed up $35B in cash flow to fuel worldwide economic growth. Taulia is headquartered in San Francisco with offices in Park City, Utah; Austin, Texas; London; Düsseldorf; and Sofia, Bulgaria. Taulia is backed by leading technology investors including Trinity Ventures, Matrix Partners and Lakestar LP. For more details, visit http://taulia.com.