Water sector supply chain trade association, British Water, has teamed up with business supply chain funding network, URICA to help its members improve cash flow and grow their international business.
The partnership will give British Water access to URICA’s online platform which, the trade association said, will give its members more control over their cash flow.
British Water International director, Lila Thompson (pictured) said: “We want to increase the number of British Water members exporting not only to traditional markets, but to new ones too. British Water members working with URICA can receive much earlier payment on invoices than they might achieve through traditional routes.
Thomson went on to say that the cash flow benefits of the alliance, along with URICA’s financial status checks on customers mean that “companies looking to expand into new markets and work with new clients have risk-free assurance that, not only will payment will be met, but will be met in a timely way.”
URICA was initially set up with UK government funding and is funded by large financial institutions and works closely with trade bodies in many sectors.