In the world of Financial Technology (FinTech), innovation is revolutionising traditional processes and procedures on nearly every front. One area that’s been witnessing a notable transformation is the supply chain, especilly when it comes to payments and collections. Timely collections and disbursements form a key component of an efficient supply chain – a critical aspect of any business. Meeting this demand is a US-based start-up, Troc Circle, offering businesses the potential speed they crave with an innovative solution.
Located in Sunnyvale, California, Troc Circle, a FinTech start-up under the stewardship of Fares Hobeiche and Youmna Hobeiche, provides financial solutions aimed at resolving the usual bottlenecks in supply chains. Specifically, it focuses on streamlining the accounts receivable and payable process, offering a cost-effective alternative for businesses.
Key Takeaways
- Troc Circle is a FinTech solution designed to expedite payments and collections in supply chains.
- By creating an open netting platform, Troc Circle allows businesses to pay and get paid simultaneously, offsetting accounts receivable and payable.
- Troc Circle’s innovative solution reduces the management costs of accounts receivable and payable, transaction costs, and increases the speed of payments.
- Sellers can benefit from getting paid earlier and eliminating payment facilitator costs.
- Buyers can instantly meet their payment obligations without incurring credit financing fees.
Unveiling its unique selling proposition, Troc Circle offers an open netting platform enabling users to offset accounts receivable and payable simultaneously – they get paid and pay concurrently. In essence, Troc Circle acts as a smart collection and payment officer, streamlining operations and making transactions cost-effective. The platform’s intuitive design drastically reduces management costs relating to accounts receivable and payable. In addition, it mitigates transaction costs and boosts the speed of payments.
It’s clear that sellers stand to benefit from getting paid allegedly, thereby cancelling payment facilitator costs. On the flip side, buyers are benefited with the convenience of instant payments, thus eliminating fees linked to credit financing. This remarkable blend of benefits positions Troc Circle as an attractive choice for businesses looking to improve their financial processes by embracing FinTech innovation.
As disruption becomes the norm in the financial industry, the future looks bright for businesses like Troc Circle. With a keen eye on the evolving needs of the businesses, Troc Circle is poised to continue offering innovative solutions that not only speed up payments and collections in supply chains but also improve overall efficiency. Its value proposition of cost-effective and instant transactions resonates with the contemporary business landscape marked by the desire for quick, hassle-free actions.
Whether you’re a seller looking to get paid faster or a buyer keen on instant purchases, Troc Circle has you covered. To stay updated with Troc Circle and its innovations, visit their website at https://www.troccircle.com/ or their social media platforms on Twitter, Facebook, and LinkedIn.
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