There is a fundamental disconnect between most companies and their vendors.
Once a vendor delivers their goods and/or services, they would like to be paid as quickly as possible. Conversely, most companies like to wait as long as they can before paying those invoices.
To remedy this situation, most vendors offer a discount for prompt payment. Unfortunately, very few companies take advantage of the discount offer.
The VendorPay/SupplyPay Program pays your chosen vendors one day after their invoices are approved by you without using your money and at no cost to you. You then reimburse us on an agreed upon timetable.
How do we do this at no cost to you? By making use of the prompt pay discounts offered by vendors.
Implementation is easy. We work with you to define the vendors suitable for this program.
– Vendors opt-in to the program
– We define a new payment term within your accounts payable roster for the vendors who opt-in.
– We pay your vendors in one day at their approved discounted rate
– You reimburse us on an agreed upon timetable.
– The whole program is implemented in days and requires no additional human resources.