Proactis secures new strategic contract win for early payment service
February 2021 - Proactis, the spend management experts, today announced that Denbighshire County Council has signed a contract to introduce bePayd to its supply chain.
bePayd, the early payments service from Proactis, will enable 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 small discount paid by the supplier.
It is anticipated that bePayd will be offered, within the first year, to around 3,000 suppliers that generate over 50,000 invoices per annum with a spend value exceeding £100 million.
"Denbighshire County Council is a long-standing and valued customer of Proactis and we are delighted that it has agreed to offer bePayd to its suppliers," stated Tim Sykes, CEO at Proactis. "bePayd is a natural extension to the portfolio of Proactis’ existing solutions adopted by the Council and we expect that it can drive liquidity into the supply chain.”