Qwil, Powered by LSQ, and TAPFIN Expand Early-Pay Opportunities to Staffing Suppliers of Major Energy-Sector Client
April 8, 2024
Source: LSQ
ORLANDO, Fla. (April 9, 2024) - LSQ, a leading provider of working capital finance and payments solutions, and Talent Solutions TAPFIN, a leading managed service provider (MSP) for contingent workforces and part of the ManpowerGroup family of brands, today announced an expansion of their Qwil partnership to include staffing firms serving one of the world's largest providers of products and services for the ever-evolving needs of the energy industry.
Qwil is LSQ’s early-payment embedded finance solution for staffing suppliers. Suppliers in eligible programs can get paid as soon as invoices are approved, regardless of original payment terms.
“As the economy continues to evolve and credit gets tighter, working capital becomes more important than ever,” said LSQ Chief Operating Officer Richard Lee. “The Qwil solution, buoyed by the ease of use within TAPFIN, helps deliver working capital liquidity by allowing staffing suppliers to get paid earlier.”
Staffing suppliers that choose to enroll with Qwil continue to work in the program with TAPFIN as usual but are paid by Qwil. According to Lee, creating flexibility and ease of use were paramount when designing the early-payment program. Suppliers can accelerate payments on an invoice-by-invoice basis and can elect to take all, some or none of the early funding available until the original contract due date.
Qwil enrollment is free for all suppliers using TAPFIN to manage their relationship with the energy company.
“TAPFIN is excited about the power that the Qwil solution provides to our suppliers,” David Gay, Managing Director, Process Excellence at TAPFIN said. “This enables a more effective partnership with TAPFIN to meet our clients’ needs despite what can sometimes be challenging payment terms. The optionality that the solution provides benefits all involved, with little to no upfront costs and minimal effort for the suppliers, our clients, or TAPFIN.”
Qwil's early-payment solution works alongside existing credit facilities, and offers another important financial tool in the toolkit for staffing suppliers to accelerate growth of their businesses. More information about the program can be found on Qwil’s website.
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About LSQ | lsq.com
LSQ is a market leader and pioneer in working capital finance and payments solutions. For more than 25 years, LSQ has leveraged innovative technology, credit and risk expertise, and proprietary data that empowers thousands of businesses to optimize their working capital, automate and accelerate payments, manage collections, and mitigate risk. Every year, we accelerate billions of dollars in payments to businesses and their suppliers through our LSQ FastTrack and Qwil platforms to help them obtain the funds they need to grow and thrive. LSQ is headquartered in Orlando, Florida. Learn more at www.lsq.com.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), 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 substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2024 ManpowerGroup was named one of the World's Most Ethical Companies for the 15th time – all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn, X (formerly Twitter), Facebook, and Instagram.
ABOUT TALENT SOLUTIONS TAPFIN
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 ManpowerGroup®, TAPFIN offers a complete suite of workforce management solutions that fully leverages a blend of global expertise and local knowledge.
For more information, visit www.tapfin.com.
Media Contact:
Andy Cagle
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