InstantPay technology from Previse smoothly and efficiently unlocks capital in the supply chain, especially for SMEs, without impacting your working capital
InstantPay uses its own algorithms to decide whether or not an invoice should be prepaid, and we handle the resulting dilution risk.
This ends the delays embedded in approval processes and avoids the process change needed to provide an Irrevocable Payment Undertaking (IPU). Your suppliers don’t have to chase you because they’ve already been paid. You keep the same operational model instead of having to adapt it for different payment methods.
InstantPay has an ecosystem of third-party funders to make the prepayments.
If you are a financial institution, you can use your funding sources for an InstantPay programme. However, most large corporations prefer us to provide independent funding, which means there is no further debt or impact on your working capital.
InstantPay programmes strengthen your supply chain by reducing the working capital stress on your suppliers. They can also generate revenue and will improve your Prompt Payment performance.
The legal structures we use mean each prepayment counts as a day one settlement for Prompt Payment reporting. It’s then your choice if you wish to earn a rebate for providing your data, earn yield by using your capital, or deploy InstantPay as a cost and performance improvement initiative.
We have tools for approaching suppliers of all sizes.
Our freemium and trial models can achieve over 50% adoption amongst companies that make up your tail and mid-market spend.
We also enable suppliers to choose between Auto-payment of everything or a “Prepay me” button that allows them to pick and choose which invoices and when (giving them more control over their costs).
Your customers or suppliers get access to working capital solutions that range from “prepay me” for a single invoice, to full auto-payment of their invoices.
We work with you to match what’s best for your business and your suppliers’ needs, supplying
enabling you to provide finance safely.
When you team up with Previse you get more than just a set of features. We work with you to enhance the whole customer experience.
operations
total spend processed
invoices and adjustments processed
transactions every day
suppliers
Offer early payment options for all suppliers, all the time and improve your PPR metrics and reputation
Optimise your use of working capital to re-invest in the business and avoid settling invoices early whilst aligning terms across suppliers (if you wish).
Reduce 80% of supplier enquiries and identify duplicate or problematic invoices.
2021 has been yet another tough year for British businesses of all sizes. As the pandemic continues and the wider economy works to build back better, it is SMEs who are impacted the worst, whilst larger companies are seemingly faring much better.
Mastercard has today unveiled its next-generation virtual card solution for instant B2B payments, using Previse’s machine learning capabilities.
On Monday, the government announced it was strengthening the Prompt Payment Code (PPC), mandating that its signatories must pay suppliers within 30 days, rather than the previous 60.
While this is a welcome step in the right direction, there is still a long way to go in addressing the chronic issue of slow payments. A 30-day payment period is still 30 days too long for many small businesses struggling to stay afloat.
It’s many entrepreneurs’ dream; that first big contract which launches your start-up brand onto the national stage. It should be time to celebrate your success, but for many small firms this is the start of a new financial nightmare.
Working capital is the lifeblood of businesses within the global economy. However, large buyers and small suppliers often clash over time taken to pay.
Slow supplier payments are a major problem for SMEs operating in the retail sector. Research from Previse shows that on average, UK retailers take 41 days to pay their suppliers.
Previse co-founder and CEO, Paul Christensen, and Business Analyst, Shyamli Badgaiyan, explain why B2B commerce needs its ‘credit card moment’.
Previse was named Digital Service Company of the Year at Computing’s Digital Technology Leaders Awards 2018.
In medieval times alchemists sought the Philosopher’s Stone, believed to be capable of transforming metals to gold. As the Stone has remained elusive, so the quest for riches turned from creating gold to finding it.
