We are thrilled to be able to deliver one of the most innovative working capital management tools the finance industry has seen in decades, helping companies to improve their cash flow and achieve greater growth.
Orlando, FL (PRWEB) December 9, 2009
At a time when small and mid-size businesses are struggling to find access to capital, sister nonprofit organizations International Accounts Payable Professionals and International Accounts Receivable Professionals announced today that they have developed an alliance with The Receivables Exchange to help bolster the working capital management and cash flow position of their members’ companies.
As part of the partnership, IAPP/IARP and The Receivables Exchange will co-produce and co-promote educational materials and interactive sessions to drive awareness of how companies can monetize their accounts receivable to improve cash flow. Co-branded marketing efforts will include traditional, digital, and social media and a concerted public relations effort to reach out to CEOs, CFOs, controllers, and other finance professionals to drive awareness of the benefits the Exchange brings to companies seeking access to increase their liquidity.
With more than 5,000 members worldwide, IAPP and IARP serve as advocate organizations for professionals in accounts payable, accounts receivable, and shared services.
The Receivables Exchange helps companies of all sizes sell their receivables to accredited institutional investors quickly and easily in a transparent and efficient online marketplace. As companies today struggle to maintain a healthy cash position, often waiting more than 60 days to receive payment on their outstanding invoices, members of The Receivables Exchange can post their receivables one day and receive funds in as little as 24 hours, dramatically reducing their days sales outstanding calculation. Buyers with a large number of accounts payable can offer the Exchange platform to their suppliers as a reliable form of supply chain financing, lengthening their days payable outstanding and, as a result, improve the cash conversion cycle for both buyers and suppliers.
“The Receivables Exchange is a game-changing company,” said Tom Bohn, CEO and executive director of IAPP/IARP. “We pride ourselves on bringing our members the most up-to-date information and resources to advance their professional growth. We are thrilled to be able to deliver one of the most innovative working capital management tools the finance industry has seen in decades, helping companies to improve their cash flow and achieve greater growth.”
All IAPP/IARP members are entitled to a free membership application to The Receivables Exchange as part of the alliance. Details are available at http://www.receivablesxchange.com/opencms/opencms/auctionreceivables/IAPP
“We look forward to helping IAPP/IARP members use our flexible market-based solution to increase their liquidity position and improve their financial performance,” said Justin Brownhill, co-founder and CEO of The Receivables Exchange. “Through the Exchange, members will have access to more than $20 billion of competitively priced capital to help them optimize their cash flow when and how they see fit. This partnership is a win-win for both sides.”
To demonstrate to IAPP/IARP members how its product works, The Receivables Exchange will team with IAPP/IARP for educational webinars and in-person briefings at the associations’ annual forum, Fusion 2010 (http://www.TheIAPP.org/fusion), which takes place May 9-13 in Dallas. The company will be among more than 150 vendors with booths at the conference, which is expected to attract as many as 1,000 finance professionals.
The Receivables Exchange has seen an increased use of receivables financing by businesses of all sizes and across more than 40 industries. The company reported nearly 200 percent quarter-over-quarter growth of receivables sold in the third quarter of 2009.
About IAPP and IARP
International Accounts Payable Professionals is internationally recognized as the trustworthy guidance-setting association for the accounts payable profession. Serving members throughout the world, IAPP is the AP professional’s global voice, chief advocate, recognized authority, acknowledged leader, and principal educator on all AP operational, regulatory, leadership, tax, control, and fraud-related topics. Together, IAPP and its sister organization, International Accounts Receivable Professionals, have more than 5,000 members in 70 chapters throughout the United States, Canada, and the United Kingdom, and provide training, conferences, knowledge sharing, certification, online resources, AP Matters and AR Matters magazines, and more. For more information, visit http://www.TheIAPP.org and http://www.TheIARP.org.
About The Receivables Exchange
The Receivables Exchange is the world’s first online marketplace for real-time trading of accounts receivable. Changing the landscape of small business financing, The Receivables Exchange provides a new dimension in working capital management by connecting a global network of accredited institutional investors (buyers) to the nation’s millions of small and mid-size businesses (sellers) in search of capital to grow. Buyers get direct access to an $18 trillion new investable asset; sellers gain access to a new competitive working capital management solution by having their receivables bid on in real time by multiple buyers. For more information, visit http://www.receivablesXchange.com.