Facebook Introduces Invoice Fast Track Program
Facebook recently introduced their Invoice Fast Track Program, this initiative was given a $100 million commitment by the tech giant. This program is said to support small businesses and businesses owned by women and minorities. As a part of this program, Facebook will buy all of the outstanding invoices of said businesses which will put the money back into the hands of the owners. Otherwise, they would have to wait months to receive money from unpaid customers. The program is estimated to support 30,000 small business owners.
This step by Facebook is a part of its latest venture to secure long-term relationships with such small-scale businesses. These businesses mostly use apps such as Facebook to connect with their customers and advertise to a niche demographic, therefore making them an important category for Facebook. Small business owners cannot afford to wait for customers to clear their invoices, however, Facebook with its $86 billion revenue can. This is the motivating factor behind the Fast Track Program. Small business owners can submit outstanding invoices with a minimum of $1000 to Facebook, if accepted the tech company will pay the businesses, clearing the invoice, within a matter of days. Then the customers can repay Facebook at the same terms that they agreed with the business, therefore clearing the invoice.
Source: CNBC
Category
Wellness Benefits
Trends
Cybersecurity
Technology
Business Continuity
People Management
Contemporary Issues
Dependent Benefits
Retirement & Recognitions
Electronic Records Management
Career Development
Job Descriptions
Payroll
Artificial Intelligence
Organization & Employee Development
Workplace Security
Disability Benefits
Termination
Campus Placement
Closing
Retirement Benefits
Organizational Structure
Health Savings Accounts
Workforce Planning
Hiring & Firing
Employee Engagement
HR Software
Disability Accomodations
Investigations
Succession Planning
Remote & Hybrid Work
Background Checks
Communication
Raise
Ethnicity
Employee Resource Groups
Work Life Integration
Disaster Preparation & Response
Analytical Aptitude
Affirmative Action
Inclusion, Equity &
Gender Identity
Benefits Reporting & Disclosure
Benefits
Networking
Paid Leave
Risk Management
Overtime Eligibility &
Ethical Practice
Bonuses & Incentives
Tags
Article
Tips To Help You Create A Robust Hiring Strategy For 2021
While employment is steadily rising in all sectors, the fear of COVID-19 still reigns supreme. As t ...
A Quick Look at The Great Resignation
The Great Resignation, as experts call it, is a rather fitting term for a phenomenon where millions ...
Return to Office: Tips to cope with Change
The past two years have been a roller coaster ride, we’ve all acclimatized ourselves with the work ...
10 Tips to Help You Ace an Online Interview Amidst COVID-19 Crisis
Online interviews have been rising in popularity for quite some time now. It has increased by 49% s ...
Comments