What is WCaaS?

A financial service model that provides businesses with flexible, on-demand access to short-term funding solutions – such as vendor financing, receivables financing, supply chain financing, invoice factoring, credit lines, or dynamic discounting. 

How does WCaaS work? 

Each WCaaS type of solution functions a little differently from another but in general WCaaS solutions facilitate interactions and transactions between multiple parties involved—buyers, suppliers, and often a diverse set of funding partners, including traditional banks and alternative capital providers. 

What are some challenges of outdated WCaaS providers? 

More traditional financial institutions have established the WCaaS category and because of that these financial offerings typically rely heavily on outdated workflows that don’t align with the technology-driven needs of companies today, particularly in the software and hardware industry. The outdated workflows include manual data entry, phone and email communications, and offer few, if any, technology integrations. 

By working with a more modern WCaaS partner, companies can access growth capital rapidly and doing so with an automated, fast, and streamlined experience for both them and their buyers. 

Continue learning about WCaaS–why you would consider using it and how it works–here.

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