There is a fundamental disconnect between most companies and their vendors.
Once a vendor delivers their goods and/or services, they would like to be paid as quickly as possible. Conversely, most accounts payable officers like to wait as long as they can before paying invoices received from their vendors. This payment delay makes their company more profitable as it enables them to use their money for a few more cycles before the inevitable pay out.
To remedy this situation, most vendors offer a discount for prompt payment. Unfortunately for both, very few companies take advantage of the discount offer.
The Vendor Insta-Pay Program (VIP) allows you the ability to (have us) pay your chosen vendors one day after their invoices are approved by you without using your money and at no cost to you. You can then wait to pay (us) on an agreed upon timetable.
How do we do this at no cost to you? The prompt pay discounts offered by your vendors will pay for the program.
Implementation is easy:
Why would we implement the Vendor Insta-Pay Program at our company?
Does the VIP take over my payables department?
No! All payables will be handled in the way that you manage them at this time. The only changes that your payables office would execute would be (a) Change the payable terms to the new VIP cycle; and (b) Change the remittance address. When your company recognizes invoices as a payable, that data can be electronically sent to us to pay your vendors immediately. It’s a very simple process.
The VIP is the true Win – Win program for everyone involved.
A brief conversation could be the first step toward recovering lost revenue and saving your company-and your city or county-millions of dollars. We thin you’ll like what we have to say.
