Liquid Capital of Arizona is part of an international finance company. President Joel Gottesman explains that the company’s Quick Pay product, introduced in 2014, is a specialized accounts payable service that can be very valuable to the right business.
Quick Pay is a web-based accounts payable platform operated by Liquid Capital. It uses sophisticated software licensed by Liquid Capital. The Quick Pay portal is a way to pay subcontractors very quickly for payments due to them. An example of a perfect client for this service would be a transportation or logistics company that relies on independent truckers to deliver loads. Those truckers often need a quick turnaround on their invoices in order to pay for fuel and truck maintenance. “They can’t wait 30 or 45 days to get paid on their invoices to the logistics company.”
The Quick Pay program offers a payment to those truckers at a discount. Liquid Capital’s software platform manages the payment process. Once a trucker’s invoice is approved by the logistics company, Liquid Capital will notify the trucker and inquire if early payment is desired. If so, the trucker receives an electronic payment the next day. The trucker is charged a discount, and that sum is shared with the logistics company.
The Quick Pay program offers those who work with Liquid Capital clients a quick cash turnaround to provide them with working capital. Liquid Capital is working to expand the companies that can use the service, including construction companies, property managers, and other industries that rely on subcontractors to perform services.