Bulk Purchase Orders: Overcoming the 30 day payment period struggle within big Clients!
A learning curve for me recently was when one of our top clients rewarded us with a ‘BULK PURCHASE ORDER.’
I had never been exposed to the concept but what a win it is for us!
Many of our larger Clients struggle with always meeting 30 payment periods. Payment approvals often require ‘Purchase Order numbers’ (PO’s) and these PO approvals can only be given by either HR or Line Management.
However, business and other demands can result in these individuals simply not being available and this places Nomad Now under pressure to enable payment of revenues to Freelancers.
At times, we even resorted to paying Freelancers without having received payments from Clients (like a lending service but without the juicy rates that microlenders charge!)
Then, out-of-the-blue in September, the Client called to say they had given Nomad Now a large BULK Purchase Order.
This was amazing for us and the Client! It meant that the Client can place Orders constantly until the entire value of the Purchase Order is used up.
And so a very real and high impact problem was solved by another forward-thinking Client. Flexi workers often cannot afford delays in payments. Our Clients understand this and will often move mountains to ensure payment are on-time.
Spread the word about us. We are reinventing recruitment in SA!
Ps: the solution was so progressive that we soon faced a related issue: the Client could now place many Orders for talent at a rapid rate, so we had to quickly meet with the Client to learn in which areas we should ‘build stock’ of their in-demand skills areas faster than we had needed to previously.
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