Boral, the largest construction materials company in Australia, has signed a partnership to deploy Earlytrade’s award-winning early settlements technology to more than 5,000 suppliers and subcontractors nation-wide.
The five-year agreement will see Earlytrade digitise Boral’s progress claim and payment processes to ensure the building materials company, its customers, and suppliers are better equipped to fight inflation and navigate the incoming infrastructure boom.
This milestone deal for Earlytrade accelerates the contech-fintech’s mission to digitise supply chains and create a stronger, more productive, and sustainable national economy.
Guy Saxelby, Earlytrade Chief Executive and Co-founder said builders and their subcontractors faced a $52 billion pipeline of work at precisely the moment materials and labour were in short supply and costs were rising.
“In an ultra-competitive market, this partnership will deliver competitive advantages to Boral, their customers, and their subcontractors,” he said.
“Boral is undoubtedly the most significant supplier in the Australian construction and infrastructure industry. Bringing them into the Earlytrade ecosystem will reap a productivity dividend for the entire sector.”
What it means for Earlytrade
Earlytrade’s deal with Boral is the single largest expansion of Earlytrade’s network since its inception in 2017.
It means Earlytrade’s award-winning early settlements system will effectively be activated on every major infrastructure project across the country and in every state and territory.
Existing and future Earlytrade partners, who have procurement arrangements with Boral, will benefit from compounded productivity and resilience in their projects, as working capital is freed-up and cash conversion cycles are shortened in multiple tiers of their supply chains.
