SAN FRANCISCO, Oct. 6, 2021 /PRNewswire/ -- Qwil and Talent Solutions TAPFIN announced today that Qwil, a payments and liquidity platform, is now offering an early financing solution to all TAPFIN suppliers. The Qwil solution provides payment options for contingent workforce suppliers as soon as their invoices are approved, regardless of net billing terms.
"Qwil's mission is to empower staffing suppliers with flexibility to get paid how and when they want," stated Johnny Reinsch, co-founder and CEO, Qwil. "Through our innovative partnership with TAPFIN, we are now able to provide the outstanding benefits of our solution to thousands of suppliers spanning billions of dollars of annual contingent spend . Now these suppliers can choose their payment terms, putting them in the driver's seat for the cash flow of their business on any given day. This is a huge win for staffing suppliers!"
The early payment solution integrates directly with SAP Fieldglass and is available for staffing suppliers in TAPFIN programs. Staffing suppliers who choose to enroll with Qwil continue to work in the program with TAPFIN as usual but are paid by Qwil, which provides an early payment opportunity on an invoice-by-invoice basis. Suppliers elect to take all, some, or none of the offered early payment. They have flexibility to take funds at any point up until the amount is paid by the client per the usual contract terms. TAPFIN and Qwil worked closely to ensure utmost flexibility of the program and there is no cost to the supplier to enroll.
"By partnering with Qwil, our suppliers now have more transparency over when they'll get paid and have optionality for getting paid faster when needed. This enables our clients to engage a wider network of diverse suppliers who traditionally were not able to meet expedited payment terms. We're excited to partner with the Qwil team on this much needed early payment service" said Amy Doyle, SVP and Global Brand Leader of TAPFIN.
Qwil and TAPFIN's partnership is a first of its kind offering for contingent staffing suppliers where traditional supply chain financing has been unavailable. Qwil's early payments solution works alongside existing credit facilities, is non-recourse and offers another important financial tool in the toolkit for staffing suppliers to accelerate growth of their businesses. Suppliers interested in the solution can get more info and also sign up here.
Talent Solutions TAPFIN is a leading managed service provider (MSP) dedicated to the innovation and delivery of integrated workforce management solutions worldwide. TAPFIN's customized, scalable MSP solutions for contingent and project-based spend are instrumental in driving process, performance and productivity improvements across the client organization, while providing visibility, predictability, risk mitigation and overall cost reduction. Part of the ManpowerGroup® family of brands, TAPFIN offers a complete suite of workforce management solutions that fully leverages a blend of global expertise and local knowledge. For more information, please visit http://www.tapfin.com/ .
ManpowerGroup® /zigman2/quotes/200637338/composite MAN +2.07% , the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantial value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity - as a best place to work for Women, Inclusion, Equality and Disability and in 2020 ManpowerGroup was named one of the World's Most Ethical Companies for the eleventh year - all confirming our position as the brand of choice for in-demand talent.
About Qwil Qwil is a leading fintech company and early payments platform. Based in San Francisco, Qwil has raised over $30 million from venture capital funds and over $400 million in debt from various financial institutions since 2016. Qwil was named the Start-Up of the Year at the 2017 Pay Awards and was recognized in 2019 in Fast Company's Most Innovative Companies list. Learn more at qwil.com and connect with us on Facebook and LinkedIn.
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