We are delighted to announce our partnership with London Ventures, who offer a new model for local government designed to transform the delivery of public services.
The partnership will give support to Oxygen’s growth and success through the endorsement and representation provided by the London Ventures programme.
London Ventures, run in partnership with EY, brings together private sector companies, investors and local authorities to drive innovation and cost efficiencies. This is overseen by the Capital Ambition Board which unites all 32 London boroughs and the City of London.
Our partnership with London Ventures will help to promote the Oxygen Solution to London Boroughs, to demonstrate how a combination of process improvements, supplier engagement and technology can put local authorities in a position where they can pay a significant proportion of suppliers’ invoices early.
Through the partnership, London Ventures will also advocate Oxygen’s solution, which gives buyers a new opportunity to generate incremental value and savings from their existing spend, whilst ultimately supporting improvements in outcomes for London’s citizens, communities and businesses.
By taking on a concept presented by London Ventures, local authorities can become a centre of excellence for that venture and pioneer a new way of working.
The London Boroughs of Bexley and Croydon are already live and realising the benefits of Oxygen early payment programmes, which include;
- Generation of a tangible new rebate income
- Efficiencies within the Council’s P2P processes and policies
- Mitigating the risk associated with Late Payment Legislation
- Creating stronger relationships with suppliers of all sizes
- Injecting liquidity into the local economy – which contributes to their Social Value agenda