As venues in New South Wales and Victoria prepare to begin the process of reopening, the challenges around cash flow, credit and reordering stock become apparent.
Venues without stock and cash flow need to fill their bars and cellars, prepare for the busiest time of year while also facing costs of cleaning lines, cleaning venues and getting staff back into the bars.
To help ease this burden eBev’s new Trade service guarantees payment to suppliers within three days and aims to reduce credit risk whilst enabling beverage businesses to grow as beverage ordering, invoicing, and payments are consolidated into the platform.
The company said thatconsidering the potential capital crunch the industry faces, this financing may be the lifeline that many businesses need to get going again.
Ian Harris, CEO of eBev, said: “The huge hit by COVID to the On-Premise beverage market on both the venue and supplier side cannot be understated. eBev Trade will assist businesses to get back on their feet quicker with improved cash flow and limited risk in selling to venues that are themselves struggling to get back to normal trading. Our platform offers tangible benefits to both sides of the beverage community.
“eBev looks to strengthen the Supplier/Venue relationship with all ordering, invoicing, financed payment options and data entry reduction through accounting and beverage systems integration. The platform aims to make business easier for both sides.”
Founded in 2015, eBev has facilitated over 90,000 orders through the platform and enables over $150m of annual orders and currently lists over 65,000 products from 700 suppliers.