FoodByUs is Australia’s #1 hospitality marketplace offering online wholesale food and alcohol ordering to restaurants, cafes and other foodservice venues. They have just announced the release of one of its most significant features ever – a cash flow solution for hospitality venues.
By integrating with a number of best-in-class B2B trade financing partners for free, venues now have up to 30 days to pay their invoices. FoodByUs customers can now enjoy free, instant and flexible financing approval for use across any of their suppliers.
Staying at the forefront of innovation is imperative to tech start-ups like FoodByUs. Co-founded by CEO Ben Lipschitz , Tim Chandler and Gary Munitz, FoodByUs are revolutionising wholesale food ordering in the Australian hospitality industry.
The product was developed over many months in partnership with industry leading trade financing platforms, revolutionising how hospitality venues and suppliers handle payments.
The current situation in the hospitality sector is less than optimal, with suppliers providing trade accounts and acting as a bank for their customers (venues), who in turn are stuck without payment term flexibility and mounting cash flow challenges.
A typical credit application-to-ordering period can be over four weeks when a restaurant wishes to engage a new supplier – with FoodByUs it is now 90 seconds.
FoodByUs sees this product development as the next step towards their mission: to be ‘ordering software so good, you wouldn’t run your restaurant without it’.
The industry-first technology is set to transform small to medium businesses across the nation, giving restaurant and café owners instant and flexible payment terms to use on their wholesale food ordering.
“What started as a one-stop-shop online marketplace has now evolved to an advanced software procurement system that helps venues efficiently run their entire back of house operation,” says Ben Lipschitz, CEO and co-founder. “Our new trade financing product is a key part of this journey.”
With thousands of satisfied venues already on board, FoodByUs provides vast access to an array of high quality providers plus major savings in procurement and labour expenses alongside tailored accounting integrations with sophisticated reporting functions.
“Now we’re ready to take it up another level – our new product allows clients better control over their supplier payments for improved cash flow management,” says Lipschitz. “Giving customers the ability to pay up to 7-, 14-, or 30-day terms is the solution for restaurants, cafes and more within the industry.”
The product provides suppliers with immediate payment guarantees and, more importantly, has been designed to alleviate cash flow pressure for over 80,000 independently owned and operated restaurants and cafes throughout Australia.
FoodByUs is 100 per cent free to use. Sign up now at www.foodbyus.com.au to explore the innovative solution and start saving time, money and hassle today.
FoodByUs also recently completed a series B $12M funding round, cementing its position as Australia’s leading online wholesale food and alcohol ordering platform.
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