Fast-track your cash conversion cycle and reduce your working capital requirements by enabling optimized payment methods and localized processing with our Merchant of Record model.
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Transcript
Businesses everywhere are looking to examine their costs and become more efficient where they can. And so Reach is able to do that in a couple of different ways. I mean, one is reducing the fees that a customer will pay in order to accept payments for their international customers, but also being able to accelerate their cash conversion cycle or reduce their working capital requirements which just get more expensive in a higher interest rate environment.
My name is Kevin Brent. I am the Vice President of Finance at Reach and I work out of the Calgary office. Working capital costs money. It is money that is tied up in inventory, in accounts receivable, et cetera. This is capital that you're not able to spend on growing the business or returning it to shareholders, or you've got a line of credit that you dip into in order to manage your working capital. And as interest rates increase, so does the interest that you pay on your line of credit. By getting paid faster, you're able to reduce the interest cost...