24th Feb 2021 14:01
Proactis Holdings PLC - Wetherby, England-based cash management software company - Signs contract with Denbighshire County Council in Wales to provide its early payment service bePayd into the council's supply chain. Says bePayd will allow the council's suppliers to receive an automated notification of approved invoices, with the option of accelerating payment before the pre-agreed contractual terms. Proactis will fund the accelerated payment in exchange for a discount paid by the supplier. Anticipates within the first year, bePayd will be offered to 3,000 suppliers who generate more than 50,000 invoices per annum, with a spend value exceeding GBP100 million.
"bePayd is a natural extension to the portfolio of Proactis' existing solutions adopted by DCC, and we expect that it can drive liquidity into the supply chain. We will now work closely with DCC to design and implement bePayd's roll-out and look forward to updating the market in line with progress," says Chief Executive Tim Sykes.
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By Zoe Wickens; [email protected]
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