EnterprisePay, our Supply Chain Finance solution, allows buyers to optimize working capital and standardize DPO while also giving suppliers access to electronic, early payment at ultra-low rates. Supply Chain Finance is financially beneficial for all parties, but exceptionally valuable to buyers, who can use it to increase their cash flow.
EnterprisePay
EnterprisePay
What is EnterprisePay?
Who should use EnterprisePay?
Any corporation seeking to standardize or extend payment terms without harming the health of suppliers should consider using EnterprisePay.
Which of my suppliers are right for EnterprisePay?
EnterprisePay is designed to work across the entire spend file, with particular focus on all large and medium suppliers who receive over $1 Million in annual spend.
Working with a 3rd party lender
Unlike traditional methods of managing buyer/supplier relationships that merely defer pain to one side or another, EnterprisePay, our supply chain finance solution, employs a collaborative financing model where the lending agreement exists between the lender and the buyer.
With EnterprisePay, the buyer can choose their own preferred bank or lender to fund early payments on our platform.
Why ultra-low rates are possible
The lender assumes risk on the strength of the buyer’s financial standing. Because of the high likelihood that a Fortune 1000-type company will be financially solvent enough to pay their suppliers in 45 or 90 days, the bank is able to offer very low rates to the buyer.
The terms and lending rates are therefore much more favorable to the supplier because they are based on the credit rating of the buyer. The supplier can take advantage of this rate to cash in early payments rather than rely on their own costly line of credit during that 45-90 day waiting period.
The supplier opts in to receive early invoice payments at this ultra-low rate, regardless of when their invoice is actually due to be paid. The collection date is no longer tied to the invoice maturity date.
Benefits of EnterprisePay
Optimizes cash flow and working capital for buyers and suppliers
Strengthens balance sheet
Reduces supplier risk
Offers suppliers the lowest interest rate
Reduces cost of goods over time
Supplier opts into early payment program
Funder sends early payment minus fees & interest to Supplier
Buyer pays full invoice to Bank on maturity date
Working capital analysis
Our working capital experts work directly with the Buyer to analyze industry payment standards, examine their spend with suppliers, identify opportunities to standardize and extend payment terms, classify all suppliers according to their value to the supplier finance initiative, and prioritize high-value suppliers to target for the initial onboarding process.
Supplier Onboarding Outreach
Unlike big bank solutions, we roll up our sleeves and work alongside you to onboard your suppliers. After all, your program is only as good as your participation rate. We can either provide content to your team, or serve as the lead outreach team in educating your suppliers about the program, answering supplier questions, communicating the benefits of joining, and supplying the technology for them to enroll in the program.
Electronic Payment Platform
We provide a secure web application for your suppliers to opt into the early payment program, set up their account for receiving funds, view their approved and upcoming invoices, and manage their secure information. Our software acts as an intermediary that securely transmits payment instructions between Buyers, Suppliers, and Lenders.