FreePay
FreePay delivers significant social value outcomes by helping public buyers accelerate payment to small and micro suppliers – getting cash to the businesses that need it most.
Concerned about the social impact of your purchasing decisions, but don’t know where to start? FreePay can help you support local activities, transform the experience of suppliers and advance the social impact of the public sector.
Delivering social public procurement
Supports local economies by injecting much-needed liquidity into small and micro firms.
Time and cost-saving
Frees up valuable time and resources to focus on core priorities.
Deliver social impact quickly
Process can be introduced quickly into public procurement finance systems.
A pioneering win-win solution for you and your supply chain
Small and micro businesses are the lifeblood of the UK economy, but many struggle to get paid.
Estimates suggest that UK late payments amount to some £50bn a year, creating significant cash flow challenges, especially for smaller suppliers.
FreePay delivers true social procurement, supporting local economies by treating suppliers fairly and responsibly, helping public authorities achieve their social goals.
Unlike other products which levy a discount on suppliers, FreePay does exactly what it says: it allows buyers to pay small business invoices early without a charge. The benefits for suppliers are clear.
For public sector buyers, the benefits are similarly compelling – creating social value by injecting liquidity into local economies. The process is fully automated, freeing up your valuable time and resources.
Using a clear and established process, FreePay can be introduced quickly into local government finance systems. Oxygen’s team works with yours to define your social criteria and identify eligible suppliers. Suppliers are then approached and enrolled.
Payment is only made once all approvals have been met. A dashboard displays your payment performance against the strategy set for each supplier.
Let’s Talk
Get in touch today to learn how Freepay can help you generate positive social outcomes from your procurement process.
Talk to usDelivering progressive payment practices
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