Expected to provide America’s businesses with access to capital at competitive rates
The Receivables Exchange, an online marketplace for real-time trading of accounts receivable, has partnered with Smyth Solutions, a credit collections and accounts receivable technology information and outsourcing firm. This would enable Smyth’s customers to monetize their accounts receivable in The Receivables Exchange’s online auction marketplace.
Reportedly, The Receivables Exchange connects buyers and sellers in a real-time auction marketplace to buy and sell receivables. By selling receivables in an open and competitive marketplace, Smyth’s customers will be able to reduce their cash conversion cycles, gain access to competitively priced capital and reinvest that cash into growing their business.
Justin Brownhill, co-founder and CEO of The Receivables Exchange, said: “As the industry leader with over a century of experience in credit-based services, Smyth understands the working capital challenges that America’s midsize businesses face. Like us, they know that businesses can realize tremendous growth and enhanced financial performance by improving their accounts receivable management. We are a perfect complement to helping Smyth’s clients maximize the efficiency of their working capital and improve their liquidity position.”
John Metzger, chairman of Smyth, said: “As providers of credit and accounts receivable management services, and as developers of our own leading Carixa credit and accounts receivables SaaS technology, we immediately recognized the value that The Receivables Exchange’s innovative A/R auction platform can bring to so many companies who are seeking a better way to manage their cash flow. By working together, and ultimately integrating the A/R auction platform into the advanced technology services we provide to our many hundreds of clients, we will be able to help these companies further improve their financial performance and reinvest to realize even greater growth.”