Imagine knowing what payment terms and early payment discount rates each of your suppliers is adopting today in their business. And then imagine being able to set optimal payment terms and automatically offering early payment discount rates to the right person at the right time based on your business rules. Now envisage scaling that approach over tens of thousands of suppliers across your supply chain and adapting it as behavior changes. This is the world that Taulia is creating through our new Artificial Intelligence engine - Polaris.
Polaris is built on the payment behaviour of more than 1.4 million businesses, which have transacted over $1 trillion dollars and additionally pulls in credit rating and behavioural data from third party sources. Treasurers no longer need to rely on subjective data or intuition when setting payment terms and rates, but instead can take a data driven approach to devise and assess different cash optimisation strategies and deploy them using Machine Learning to adapt offers over time. The result? Companies across the supply chain unlock new levels of working capital and earn substantially higher returns on yields.