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Andy Cagle
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ORLANDO, Fla. (May 21, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently announced a strategic supply chain finance partnership with Ecobat, a distinguished leader in sustainable energy solutions. This collaboration marks a pivotal moment in bolstering supplier health and generating vital working capital for Ecobat.
Ecobat’s decision to partner with LSQ reflects a shared commitment to operational excellence and financial resilience. By leveraging LSQ’s expertise in working capital solutions, Ecobat has unlocked new opportunities for optimizing cash flow and enhancing vendor engagement.
“Our collaboration with LSQ has been instrumental in transforming our vendor relations and strengthening our financial position,” said Carter Johnson, Senior Manager of Procurement at Ecobat. “Through innovative strategies and early payment options, LSQ has played a crucial role in safeguarding the health of our suppliers and driving sustainable growth.”
For Ecobat Vice President and Treasurer Scott Paredes, providing flexibility to their suppliers while generating working capital and providing cost savings are paramount to the success of the supply chain finance program.
“Providing early-payment options for suppliers was first and foremost for us in creating a supply chain finance program,” said Paredes. “Giving them the option to get paid within one day for their invoices makes us a partner in their growth.
“The bonus is that we have been able to standardize terms, generate working capital for Ecobat and reduce costs by using LSQ’s payments automation and consolidation.”
Furthermore, Ecobat’s decision to select LSQ as their supply chain finance provider was based on the proven security of the LSQ FastTrack® platform in safeguarding sensitive financial data.
“Security is paramount in today’s digital landscape, and our partnership with Ecobat is founded on a shared commitment to data protection and privacy,” Paredes said. “By implementing state-of-the-art security protocols, we ensure the highest level of confidence and trust in our financial solutions.”
The collaboration between LSQ and Ecobat underscores the value of proactive financial management and underscores LSQ’s position as a trusted partner in driving business success.
“We greatly appreciate the faith Ecobat has placed in LSQ,” said LSQ VP of Working Capital Solutions Amarish Kapadia. “Our collaboration with Ecobat exemplifies LSQ’s commitment to driving financial excellence and fostering mutually beneficial relationships. By leveraging our expertise in working capital solutions, we feel we’ve empowered Ecobat to achieve remarkable results in supplier relations and financial operations.”
Supporting Sustainability
For LSQ, the Ecobat partnership is important as the company is looking to assist more companies in their efforts to improve their environmental, social and governance programs.
“By expanding access to working capital to their suppliers, we are able to grow Ecobat’s capacity and help them boost their sustainable supply chain initiatives,” said LSQ Chief Revenue Officer Vikas Shah. “We’ve seen over and over that suppliers want to improve their environmental footprint, but often lack the financial resources to do so.”
About LSQ | lsq.com
LSQ is a market leader and pioneer in working capital finance and payments solutions. For nearly 30 years, LSQ has leveraged innovative technology, credit and risk expertise, and proprietary data that empowers thousands of businesses to optimize their working capital, automate and accelerate payments, manage collections, and mitigate risk. Every year, we accelerate billions of dollars in payments to businesses and their suppliers through our LSQ FastTrack platform to help them obtain the funds they need to grow and thrive. LSQ is headquartered in Orlando, Florida. Learn more at www.lsq.com.
About Ecobat | ecobat.com
Ecobat is the world’s largest battery recycler. With decades of experience recycling and producing lead acid battery materials, Ecobat is now applying its global capability, infrastructure and market knowledge towards recycling lithium-ion battery materials. For more information on how we are transforming energy storage, visit www.ecobat.com.
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