Proactis Holdings plc, (LON:PHD), the business spend management solution provider, has announced that it has signed a contract with Denbighshire County Council to provide its early payment service, bePayd, into DCC’s supply chain.
bePayd will enable DCC’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 small discount paid by the supplier.
It is anticipated that bePayd will be offered, within the first year, to approximately 3,000 suppliers that generate over 50,000 invoices per annum with a spend value exceeding £100m.
Councillor Julian Thompson-Hill, Denbighshire County Council’s Lead Member for Finance, Performance and Strategic Assets, commented:
“The Council recognises the importance of its valuable supply chain, especially in these difficult times. Proactis has recognised the needs of our suppliers and we are keen to be able to offer bePayd to them.”
Tim Sykes, Chief Executive Officer at Proactis, commented:
“DCC is a long-standing and valued customer of Proactis and we are delighted that it has agreed to offer bePayd to its suppliers. 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.”
