With traditional sources of liquidity constrained, imagine the possibilities that come with transforming your payables into a cash opportunity.
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Pay suppliers on invoice approval, accelerating payments, and earning a rebate while enhancing your suppliers’ financial health and loyalty.
On tap third-party funding for early payments to keep cash on your balance sheet.
Say goodbye to paper forever. All payments are managed through Finexio’s digital payment channels and directly deposited into your suppliers’ accounts.
Easily extend terms to free up cash and improve your balance sheet with our “white glove” team managing all the details.
Getting live with OnDemand payments for your suppliers can be done in a matter of weeks. It’s really down to how fast you want to work. Typically we agree which suppliers to include in the program, we enroll them in your name and you send us a daily file of invoices for these suppliers that you have approved within eight days from receipt of invoice.
If you also want to extend payment terms this aspect of the program typically takes a little longer as we will work together to identify which suppliers should be included and then we will undertake the outreach on your behalf and establish your suppliers on new payment terms.
We start by looking at all of your vendors and the payment terms they are on today. We compare these terms to the industry standard terms in use by your peer group. We then ran an analysis that works out if you moved to the new terms what the cash benefit would be for your business. An easy way to start is by checking out our online cash flow calculator. Or if you want a more detailed assessment one of our sales team will be happy to help.
No, the way the solution is designed is that we either pay approved invoices early using our funding or we pay them at maturity using your funds. It is not currently possible to only offer an early payment solution to specific suppliers without the payments solution.
Your suppliers will be charged a 2% fee in exchange for payment within ten days from receipt of invoice. This is in line with credit card fees but with the additional benefit that they get paid much faster and the funds will be deposited directly into their bank account without the cost or hassle of paper checks.
There is no upfront fee for adopting the OnDemand payment solution. Our business model is based on benefiting from the early payment discounts. We reserve the right to charge a fee for helping you implement a payment terms extension with your suppliers if this is undertaken by the Finexio team.
For the program to work and for your suppliers to get paid inside ten days from receipt of invoice it is a requirement that you share approved invoices daily with us. This can be in one of a number of agreed formats.
We pay your suppliers through automated ACH with the funds being deposited directly into their banks account.
You commit as part of the contractual program terms and conditions to pay all approved invoices that have been paid early by us at invoice maturity, at the full amount and on time.
If you are disputing an invoice and it cannot therefore be approved within eight days of receipt the invoice must be removed from the early payment program.
The key difference between a V Card program and FinexioCash is that with this program your suppliers have the opportunity to get paid faster while you can take longer to pay. This means that both you and your supplier put additional cash onto your balance sheets.
AP Payments as a Service.
