Shift, a provider of credit and payments platforms to Australian businesses, has announced a partnership with FoodByUs, one of Australia’s largest online wholesale food ordering platforms which connects restaurants and cafés with suppliers.
FoodByUs customers can now access flexible payment terms with spend thresholds set by Shift based on real-time bank statement information. Customers can register with Shift Trade or connect an existing account within the FoodByUs platform to streamline the purchase and payment process.
“FoodByUs is a prime example of a business enabler for the hospitality sector, streamlining procurement for their customers,” says Shift CEO Jamie Osborn.
“Integrating Shift Trade with the FoodByUs platform even further streamlines business processes, giving customers favourable trade terms alongside certainty of spend.”
With Shift Trade, FoodByUs customers can more carefully manage cashflow in an industry where half of all revenue is spent on supplier costs, according to the Shift Business Index.
“Cashflow, administration and supplier management are three of the biggest challenges for any hospitality business. By offering a payments solution within FoodByUs, our customers can address all three issues,” says FoodByUs Co-Founder and CEO Ben Lipschitz.
“There is no other software in the hospitality industry that allows suppliers and their customers to transact seamlessly with the backing of a best-in-class trade financing product. 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 90 seconds.”
Ben says thousands of customers use FoodByUs because it provides free, instant access to a variety of suppliers. He says through the marketplace function they enjoy substantially reduced food and labour costs, advanced accounting integrations and detailed reporting.
“This Shift integration provides further benefit by allowing customers to stay on top of all supplier payments in one place and better manage their cashflow,” he says.
For more information, visit the Shift website.
