Unlocking value for buyers
Creating tangible value to your entire organisation from your supply chain, in a way that others don't and at no cost
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Supporting your suppliers
Cash is pivotal to any business, and for some, access to cash is the key to survival. Yet, sourcing cash using traditional methods can still be complex, slow and distracting.
Many businesses will turn to their customers to obtain faster payments, however, for these customers there is the administrative burden of changing payment dates and the cash impact on their organisation. Does this sound familiar?
Offering bePayd to your suppliers delivers much needed cash into your supply chain without impacting on your administrative processes or cash flows.
It is completely selective, with no-tie in so your supply chain can access swifter payments only when they need it.
Enhance supplier loyalty
Suppliers have told us that simply having the knowledge that their customers will give them access to both swift insights and early payments will result in them prioritising that customer over others. Imagine being able to offer this certainty with the utmost simplicity, speed, transparency and convenience. bePayd can offer this, resulting in a loyal supplier base.
Suppliers also do not like chasing payments or finding out whether a payment will be made, it is a negative part of their working day. Therefore, increasing the number of positive interactions vs the negative ones will result in that supplier wanting to service you before others.
bePayd is not just an extremely flexible solution for suppliers. Buyers can take advantage of early payment discounts as and when they want and can obtain discounts above and beyond the contractual discounts in place. This combined with other financial benefits and efficiencies will help you to create a supplier pool that deliver exceptional service and margins will be enhanced.
bePayd will increase the procurement team’s contribution to your organisations margins.
Many suppliers often contact their customers to ensure that an invoice has been received, that a payment has been approved, to obtain confirmation of a due payment date and potentially to negotiate an early payment. We have been told that this can be distracting especially when this inbound activity comes from, non-strategic suppliers causing you to focus on them instead of your strategic suppliers.
bePayd removes this noise by notifying suppliers on a buyer’s behalf that payments have been approved, when they will be due for payment and that they can access an early payment. And they can have all of this in seconds. Therefore, for the is no reason for your suppliers to make these calls anymore.
Obtain supplier insights
It is important to have a strong understanding of your supply chain. However, many have limited visibility beyond their tier 1 suppliers. With access to a supplier portal you will gain useful insights into your entire supply chain.
You remain in control
This is your supply chain therefore you are in complete control. You can select which suppliers get offered an accelerated payment and those that don’t. bePayd makes it very easy to select those that you do and don’t wish to offer accelerated payments to. You can even report on why certain suppliers may have been opted out.
Get value for FinanceClick below to see how
bePayd drives cash to those businesses that need it most, namely the small business community, that represent such a huge part of any economy. We know that these businesses are underserved in terms of access to cash and we want to change that.
bePayd has been built with SMEs suppliers to ensure that what is delivered, truly works for all parties. We believe that supporting these businesses by giving them access to liquidity in the simplest, swiftest, most transparent and convenient way is a great thing for all and bePayd delivers this.
- Increase supplier’s financial health
- Improve wellbeing of business owners
- Help all businesses do more of the things they should be doing, by removing the things they shouldn’t, like chasing payments.
As well as creating a solid supply chain, creating vendor loyalty and delivering a suite of financial benefits, implementing bePayd to your supply chain will carry a positive CSR.
bePayd can drive a series of efficiencies that will deliver cost benefits to your organisation.
You will reduce the cost of managing low value, inbound activity driven by, often non-strategic suppliers chasing approvals of invoices, confirming due dates and seeking early payments by bePayd automating simple and clear comms to the supplier and offering early settlements.
A sustainable supply chain also means that the cost of onboarding new suppliers to replace those that fail due to cash shortfall reduces.
However, bePayd can also support further discounts by enabling you to participate in any accelerated payment. The benefit here is that it is completely flexible, you only participate when you want and for the amount you want to. Optimising available cash.
Complements other supply chain programmes
It has been reported that traditional supply chain finance solutions, including dynamic discounting only covers 26% of a business’s spend. bePayd was designed to support where others can’t or won’t.
In addition, we have worked hard to make sure that what we have built will work for these suppliers by thoroughly testing with them at every step of the journey. Traditional solutions require complex onboarding. Even signing up to yet another portal or downloading yet another app for some suppliers can be frustrating. With bePayd they don’t have to download an app, they don’t have to log in to a portal, the information is clear, the process to onboard is a one off and takes less than 3 minutes and then any payment can be accelerated in just a few seconds. This is what smaller suppliers are after so they can concentrate on their business.
We want what is best for all parties not just what is best for us. Therefore, we don’t believe in restricting buyers or suppliers and therefore do not prevent any other funding facility being implemented.
There are a series of financial benefits to your organisation inclusive of income generation. We are happy to talk to you as to how this can work as each buyer has differing expectations.
Harmonisation of terms
Suppliers will often request that they are paid sooner than terms dictate to support their cash flows and many buyers will look to help, which is great for the supply chain and can have margin benefits through early discount when sought. However, this can have implications on clarity of cash budgeting and have administrative burden with staff having to amend scheduled payments.
We recognise that sometimes a buyer may not want to use its cash resources to pay early. With bePayd we will offer and make payments so a buyer’s cash resources don’t have to be burdened and yet the supplier gets the liquidity they require.
Therefore, a buyer only amends the terms... on their terms. If a buyer wishes to pay bePayd early for any accelerated payment they can, and we will give them a discounted payment.
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A full API suite
We have built bePayd to enable agnostic integration with any ERP, P2P or financial management system but also to make the process as simple as possible for buyers. We have created a full suite of APIs so that a technical team can use and have accompanied with supporting documentation. Support will also be on hand for any integration making life easy.
A simple trial process
Whilst we want integration with buyers to be as seamless as possible, ahead of any investment in time and effort we have created a swift way to trial or pilot bePayd.
Safe and secure
We recognise the importance of data protection and security. Therefore, our build meets stringent security protocol, with robust security policies.