A business owner wondered where his invoice payment was so he called his client only to find out that they did not know but that the payment was on its way. He followed up with the client’s account payables department but all they could say was it is marked as paid and suggested that it might show up after the weekend or upcoming holiday.
After hours wasted, the payment was still stuck in limbo.
Businesses want to get funds from clients to payoff their expenses. The faster that process can happen, the less headaches. It seems crazy that the current payment processing rails can't handle certain situations as simple as weekends and holidays. Doug Yeager, CEO and founder of Trice, had a realization that would soon lead to Trice's founding: It shouldn't be this hard to know when my money will arrive.
2 years later, Trice makes instant, seamless payments available to thousands businesses across the country.
While those businesses benefit from faster cash flow and settlements, financial institutions using Trice cut reconciliation time by 90% and operational costs by 30%. Now when businesses want to get paid, they can request-a-payment and get it in seconds, all with 100% certainty that the funds are good. - thanks to Trice.
