The COVID-19 outbreak and ensuing financial turmoil is hitting small businesses - hard.
Note: In March, 2021, Roger officially changed its name to Corpay One. Our features and functionality have not changed. To learn more and understand the change, read more.
Roger's new Cash Flow Management feature helps businesses and vendors negotiate payment terms and discounts in times of financial difficulty.
At Roger, we work with more than 10,000 small businesses and, through them, more than 100,000 vendors and suppliers - many of whom are also small businesses. This is our community and we strive to do what we can to bring solutions to help better their business, even when times are tough.
So, we're accelerating the release of our Cash Flow Management tool.
Initially, this feature was further down our product team's roadmap. We knew it was important, but we were working on other improvements in Roger first.
All of that changed on March 19th. We saw the number of COVID-19 cases continuing to climb and the mounting challenges businesses are facing.
So, we jumped into action to deliver a solution to help small businesses and their vendors access an option to speed up and slow down payments, as well as negotiating payment terms and discounts.
And we'll be offering it for free. Typically, these programs come with brokerage fees. But, we're waiving them to support the Roger community until May 31.
Our mission from Day One was to remove worries about accounting and payments, making finance operations hands-free through automation.
Inside Roger, it's as simple as pressing a button to request new payment terms from vendors. You can choose to pay vendors sooner, giving them access to money they're owed faster, and negotiate a discounted rate to help you pay your bills. You can also request a later payment date, if your business is struggling with immediate cash flow.
You set your requested payment date and terms, and Roger does the rest. We'll let you know if the vendor accepts the proposed new terms. From there, new payment dates and amount owed will be reflected in Roger, and sync to your accounting system.
On top of Cash Flow Management, we've also moved up the launch of our Direct Payments feature in the USA, which allows vendors to receive their money instantly through a virtual card instead of waiting for an ACH or a check payment.
When it comes to cash flow, even small things matter. It's not easy to get to a bank or mailbox, so Direct Pay enables your vendors to easily accept your payments.
Most of the projects we've accelerated within Roger focus on payments and payment terms, but that's not the only way we are helping small businesses save on essential financial resources.
Roger's accounting Workflows reduce the amount of time and money businesses spend on accounting and bookkeeping resources. If your business is reducing staff and struggling to maintain stability in your accounting process, Roger can manage a lot of the tasks an accountant or bookkeeper does in-house for a fraction of the cost.
To all of our current customers, new customers and the vendors in our community - please know that we're here for free and 24/7 at firstname.lastname@example.org and our live chat. Running a small business is not easy right now but we'll try to help you - however we can.