Experian, the world’s leading global information services company, has partnered with C2FO, the world’s leading online marketplace for working capital, to deliver the Experian Early Payment Programme. This programme, which is currently being rolled out, supports liquidity needs of Experian suppliers through the Coronavirus pandemic.
Read More: Mastercard and Seeburger to Partner on Request to Pay Based Bill Pay
The C2FO platform enables suppliers to view their outstanding invoices and offer a discount rate to accelerate the payment before due dates. This programme allows suppliers to be in complete control so that they can determine which invoices to discount, and, through the acceleration of liquidity support, suppliers can purchase more inventory or equipment, expand operations and invest in their employees.
C2FO’s technology is straightforward as it is designed to be synchronised with existing enterprise resource planning (ERP) software without changing the process or the manner in which suppliers are paid. As soon as a supplier’s offer is accepted, the invoice is paid automatically, directly by Experian, without any change to the existing payment process.
“We are delighted to partner with Experian and look forward to bringing the benefits of a flexible working capital solution to their suppliers,“ said Mark Thomas, Chief Operations Officer at C2FO.
Mark Langrish, Global Chief Procurement Officer at Experian said:
“By partnering with C2FO and launching our Early Payment Programme, we are excited to provide enhanced payment/cashflow options to our suppliers. This dynamic, new approach will allow us to offer a simple and straightforward way for them to access early payments and supplement their cashflow.”
Since its first transaction in March 2010, C2FO has generated more than $110 billion in working capital funding and accelerated payment by more than one billion days for companies in 183 countries.
Read More: GlobalFintechSeries Interview with Jason Ioannides, Manager, Solutions Consulting at Alloy
