It was in the middle of the global COVID-19 uncertainty when Milton Rum Distillery launched into the retail giant Coles Group.
While it was ground-breaking to break into distribution with one of the biggest retail chains in the country, for the burgeoning Brisbane-based boutique distillery, cash flow confidence was crucial.
Managing director and master distiller Alexander Bell says it is critical for their business to manage payments into the business as soon as possible.
“We always have to watch our cash flow,” he says.
Launching their brand into the Coles Group during the height of the pandemic impact in mid-2020, they were very concerned how the uncertainty might stretch their working capital thinly.
Then they heard about Earlytrade and the potential to get their invoices paid faster.
“We were keenly interested in getting involved as soon as possible,” he says.
“Within only a few minutes, we were signed up and got our first invoices more than a month in advance.
“We use Earlytrade with all of our Coles Group invoices. With a shorter cash flow cycle, we are able to reinvest much needed cash back into the business to fuel our growth.”
And they are making that happen. Challenging the status quo when it comes to rum in their home state of Queensland, they are focused on quality, integrity, creativity and innovation.
They were awarded the Australian Rum Distillery of the Year at the Melbourne International Spirits Competition and their spirits are available at bars and bottle shops across the country.
Mr Bell says they have been impressed at the ease and intuitive nature of the Earlytrade platform, making it simple and fast to get paid.
“What surprised me about Earlytrade was how they had already partnered with a large supermarket group and had all of our invoices ready to be paid out,” he says.
“This was an excellent introduction to a different and better way of doing things with Earlytrade.”