Expands team with new executives to give more options to grow your business
Octet has launched a digital wallet that will give businesses a one-stop-shop to finance their domestic and global trade. The new offering allows businesses to combine and boost their finance options to fund their purchases through secured and unsecured lines of credit, receivables finance, credit cards or cash.
Octet has also introduced an asset and receivables finance product suite that makes it easier for businesses to access and use working capital.
The new receivables finance option integrates directly with the supply chain, allowing businesses of all sizes to use this finance option to pay suppliers directly through Octet’s cloud-based supply chain finance platform. Businesses will be able to borrow up to 80% of the value of their outstanding invoices as funding to use in their supply chain or as cash to use as needed.
Unlike normal offerings that force businesses to wait days for their funds to clear through their bank, Octet’s new receivables finance solution lets businesses access and use funds immediately through the platform, significantly reducing interest costs and administration.
Octet’s digital wallet also allows businesses to access real-time foreign exchange rates when they pay global suppliers, covered by bank-grade security.
Octet helps all types of businesses, regardless of size and financial position. Unlike traditional financing solutions, which switch on and off after a certain threshold, Octet enables business to fund each stage of the supply chain through a number of financing solutions, from receivables finance through to unsecured lines of credit, and credit cards.
By adding receivables finance to its digital wallet, Octet is now a one-stop destination for any business’ financing needs, providing an array of financial products, both unsecured and secured.
Octet has hired new executives to help lead the push into receivables finance, including Nigel Thayer for Western Australia, Brendan Green for New South Wales, Allan Howe for Queensland and Tony Ahdore for Victoria; giving customers a local point of contact, and helping them tap into strategic geographic areas. The experts bring more than 100 years’ collective experience in the business finance arena.
About Octet
Octet is a supply chain management and financing platform that offers enterprise-grade tools to Australian businesses. Octet enables buyers and sellers to track, validate and authorise each step of the supply chain, with full visibility of all supporting documentation, and ability to facilitate payment through multiple methods including cash, credit cards and loan facilities.
Octet’s platform has been used by more than 1000 Australian and New Zealand importers and over 10,000 suppliers spanning 60 countries, facilitating transactions worth a total of more than $1.5 billion. Other users of Octet’s platform include Octet Finance (Australia and New Zealand), the Bank of Nanjing (China), Accord Financial Inc. (Canada & USA), Octet Express Payment Institution AS (Turkey) and Asia Factor Ltd (China).
