Small businesses have many outstanding receivables these receivables take an average of 60 days to get paid and 50% of these are paid late. There are limited options to solve this challenge and the ones available are expensive.
What Is InstaSupply?
InstaSupply is a cloud platform that allows businesses to track and control spend across suppliers. The platform provides purchase ordering, budget control, approval workflows, delivery tracking, secure invoice and credit document storage and data collection, supplier and product management, payment control, and accounting reconciliation services.
Currently, InstaSupply is already involved in tracking and reducing outstanding receivables for more than 2300 small businesses. The platform was developed in 2015 and the team at InstaSupply handles transactions valued at more than $60,000,000 annually. The platform allows businesses to match purchase orders to deliveries and invoices. This provides an opportunity for the businesses to control which invoices should be paid and also to sort the ones that require further investigation.
The InstaSupply also has the Payment Run product that allows businesses to group together the approved invoices, apply for any outstanding supplier credit, and come up with a list of payments to be made to suppliers through their traditional banking services.
InstaSupply B2B Invoicing Platform Features
- Mobile interface: The platform is accessible on mobile, which allows people on the go to use it.
- Customer-supplier boarding: The platform offers custom onboarding and training for your suppliers.
- Record all transactions: It is easy to control all orders and deliveries across the business due to the use of blockchain technology
- Real-time tracking: Businesses will be able to track all the spending and payment activities across different locations and currencies.
- Expert customer care: The platform’s customer care representatives are always available to ensure the success of platform on your business.
- Custom approvals: The platform provides custom mapped approvals for all purchases and invoices.
InstaSupply PayBlok PBLK Token Details
PayBlok is a crypto asset that incentivizes B2B payments within the InstaSupply platform. The creation of this token allows the InstaSupply platform to offer a range of products for businesses including:
An Integrated Payment Solution
The complete buying cycle will remain in a single platform, which will see the end of manual activities such as reconciliations and exports. This will ensure the security of the data and will eliminate risks and mistakes associated with transferring data between platforms.
Supply Chain Financing
Supply chain financing will be viable since there will be an appropriate environment that will allow for efficient workflow, automatic invoice approvals, and an integrated payment solution.
Suppliers will be provided with supply chain financing in a simple and bureaucracy-free manner. The supplier will receive funds in less than 24 hours and this process will be transparent due to the use of blockchain technology.
The lending is based on using the PayBlok tokens that will be used as the guarantee. If the loan is not repaid, InstaSupply will take the PayBlok tokens that will be used as collateral.
InstaSupply PayBlok PBLK Token ICO Details
The PayBlok token supply will be fixed at 250,000,000 and 60% of these tokens will be issued during the token sale. The platform has come up with a bounty program, a referral program, and a discounting plan to encourage investment in the platform. The presale of the PayBlok token will start in June 2018 while the main sale will start in July 2018. Each token is valued at $0.30.