Oxygen Finance

Case Study

The benefits of early payment for suppliers: The Ultimate Risk Management story

Ultimate Risk Management joined an early payment programme to supporting their cash flow and avoid more expensive forms of finance.
The benefits of early payment for suppliers: The Ultimate Risk Management story

The Situation

Ultimate Risk Management Ltd offer a full professional scaffolding service with expert health and safety advice, independent statutory scaffolding inspections, scaffolding handovers, safety inspections and audits, also including as scaffolding erection/hire division through Ultimate Scaffolding Services.

Based in Jarrow, Tyne & Wear, the company has over 20 years’ industry experience. Ultimate Scaffolding Services are currently the number one preferred scaffolding contractor working with South Tyneside Council on the borough’s repair and maintenance works. This strong working relationship spans over 10 years.

Oxygen’s Solution

The Supplier Incentive Programme is an early payment scheme for businesses who supply goods and services to South Tyneside Council. Invoices are paid quicker in return for a small rebate which is calculated using the number of days the invoice payment is accelerated. The programme helps businesses get paid quicker, improving their cash flow, and generates an income for the council, protecting key community services.

“The Supplier Incentive Programme is a good system that works well for us; saving us time and making sure payments are received quickly. Our invoices are paid quicker than before the programme was in place, supporting our cash flow and reducing the need for us to turn to more expensive forms of finance.  The introduction to the programme was clear and we had everything we needed to get started.

“The time spent by accounts receivable on payment queries has significantly reduced, as invoices are paid as soon as they are approved. We’re happy with the programme and look forward to continuing our relationship with South Tyneside Council.”

Derek Henderson, Managing Director, Ultimate Risk Management Ltd