Early Pay is a unique payment solution that offers a quick and easy way to facilitate early payments to suppliers, improving the flow of cash to the entire supply chain, whilst delivering sustainable economic and social benefits.
The challenge
Local authorities continue to face significant financial pressures of real term cuts, increasing costs and rises in demand for public services. With the added pressure to deliver on the National Procurement Strategy, such as fulfilling social value, building greater connections with local suppliers and embracing procurement innovation.
Effective supply chain management and strong supplier relationships have never been more important.
The solution
By using Early Pay local authorities can stimulate their local economy, supporting it to level-up through early payment offers to local businesses, helping them to prosper.
How does it work?
Its really smart and really simple.
Once a council has approved an invoice, Early Pay will notify the supplier. The council can offer to pay early, and choose whether to apply a discount. The supplier can accept the offer if they so wish. There’s no obligation either way, but the supplier will have peace of mind of knowing exactly when they’ll be paid.
Due to the flexibility of Early Pay, councils have the option to prioritise local businesses and choose to provide early payment with no discount. Any discounts applied to other supplier groups can generate additional savings that can then be reinvested into local services.
Transform the way you pay and contact Saltare today.
Get in touch to arrange a demo to see how Early Pay will deliver benefit to your organisation whilst enabling you to generate significant social value, strengthen communities and help local businesses prosper.
