Croydon Council launched the Premier Supplier Programme (PSP) during 2015, with the aim of enhancing the trading relationship that exists between the Council and its suppliers. The PSP is being delivered in partnership with Oxygen Finance and is based on investment and improvements that we have made to our Purchase to Pay (P2P) processes. Having consulted with and listened to our suppliers we understand that cash and cash flows are incredibly important to you and so through the PSP we now have the ability to consistently pay supplier invoices ahead of contractual payment terms.
From launch to the summer of 2017 we have paid over 7000 invoices early through the PSP achieving an average payment day of day 10, therefore the vast majority of participating suppliers have received their payments almost three weeks early!
Members of the PSP benefit from;
- Early payment of invoices – Increasing cash flows and assisting with suppliers financial planning
- Access to a free and automated e-invoicing tool – ensuring accuracy and reducing process delays
- Dedicated Accounts Payable resource, available to help with participating supplier invoice queries
- A prioritised service within Accounts Payable
There are no joining fees, subscriptions or charges to join the PSP. The only cost is a small rebate which is retained from invoices that are paid early and covers the cost of finance and the staffing of the programme, with any remaining rebates reinvested in front line services within the Borough. Please contact email@example.com to find out more or alternatively visit the PSP website where you can sign up online – http://response.oxygen-finance.com/croydon-council-premier-supplier-programme