Improving cash flow and extending credit terms for a chain of major Veterinary practices.
When cash flow gaps arise, sometimes a creative solution is needed. Recently, UnLock became this solution for a chain of major Veterinary practices.
The chain was growing, but there was a gap between paying suppliers for stock and receiving the necessary medicinal items in time to deal with critical issues. As such, the group was low on working capital, and struggling to deal with its growth. The UnLock Payment Gateway let the company pay their suppliers’ invoices immediately, securing an early settlement discount in the process. They then paid back the facility over 30, 60, or 90 days. As a result, the practice improved cash flow, allowed customers to buy more, enabled 90 days extended credit terms, and had the supplies to take on more clients and expand its services, getting back on track with growth targets. This all at zero net cost, thanks to the early settlement discount, which covered the cost of the facility.