Our pioneering FreePay product is focused exclusively on supporting those sectors of your supply chain that need it most, whether they be a minority-owned, local or small business, we can get them paid early without any charge. A fully automated solution, it dramatically reduces time and administrative effort. It’s simply early payment for free!
Not just a promise
Deliver on commitments to get cash quickly to those suppliers that need it most.
Understand how your supply base is constituted, small, minority-owned, local businesses.
Time and cost-saving
Frees up valuable time and resources to focus on core priorities.
Supporting those suppliers that need it most
Estimates suggest that UK late payments amount to some £50bn a year, creating significant cash flow challenges, especially for smaller suppliers.
FreePay addresses this challenge head-on by treating minority owned, small and local businesses fairly and responsibly.
Unlike other products which levy a discount on suppliers, FreePay does exactly what it says: it pays the invoice without a charge.
The benefits for suppliers are clear and for buyers, FreePay creates supply chain loyalty making the purchasing entity the customer of choice.
Moreover, the process is ‘hands-free’ and fully automated – freeing up valuable time and resource.
Using a clear and established process, FreePay can be introduced quickly and efficiently into buyers’ finance systems. A dedicated Oxygen team works alongside stakeholders to define the parameters to identify and enrol suppliers. Payment is only actioned once all your pre-determined approvals have been met.
A dashboard displays how payment performance is delivering against the strategy set for each supplier sector.
Flintshire County Council
“FastTrack provides significant benefits to our suppliers with hundreds of firms receiving payments quickly and efficiently. This shows how well the process works. We are seeing more firms signing up all the time as they realise that getting paid fast can be a lifeline, especially if they can access the FreePay option.”
Councillor Paul Johnson, Flintshire’s Cabinet Member for Finance, Social Value and Procurement
Get in touch with our team today to start your free personalised demonstration of how our solutions can help your businessTalk to us
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