How Public Sector Organisations Utilise Early Payment SolutionsThere are many influential factors regarding the payment of Government suppliers.
The UK Government Prompt Payment Policy – where 80% of Central Government suppliers are paid in 5 days, and the remainder within 30 – is a key driver, in conjunction with the Public Contracting Regulations (2015), which stipulate all approved invoices be paid in 30 days. These baselines can sometimes be difficult for public organisations to attain. However, utilising an early payment offering not only eases these tensions, but it can provide the customer significant primary benefits.
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Chapters in this guide include:
- Early payments - a solution
- Supply chain finance
- Dynamic discounting
- Hybrid model
- Case study: NHS Prescription Services