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Aberdeen City Council

Supplier Incentive Service

 

An exclusive service for key suppliers

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    Welcome to our Supplier Incentive Service

     

    No chasing, no delays – just early payment

    Welcome to our Supplier Incentive Service

     

    No chasing, no delays – just early payment

    What is the Supplier Incentive Service?

    Predictable, reliable early payment - targeted at day 10 - in exchange for a small, pre-agreed rebate

    Fast-tracked invoice processing and dedicated contacts for queries

    Easy sign-up process and no system changes needed

    What is the Supplier Incentive Service?

    Predictable, reliable early payment - as early as day 10 - in exchange for a small, pre-agreed rebate

    Fast-tracked invoice processing and dedicated contacts for queries

    Easy sign-up process and no system changes needed

    How Does it Work?

     

    The Supplier Incentive Service enables your invoices to be paid ahead of contractual payment terms in exchange for a pre-agreed rebate. The rebate is applied dynamically as the invoice is paid and is proportionate to how many days we accelerate your payment by.

     

    To calculate the invoice acceleration, we use the number of days between invoice received date and invoice remittance date. The rebate is only applied if invoice acceleration is achieved.

     

    This means you will be paid as soon as the invoice is authorised and we will issue a debit note to the value of the deducted rebate. The debit note quotes your original invoice reference to enable you to reconcile your account.

     

    As shown in the accompanying diagram we aim to pay you on day 10 for a 1.25% rebate. 

    What are the benefits?

    Improved cashflow enabling you to plan ahead and grow your business

    Hassle-free service and fast-tracked processing - no chasing, no delays

    Increased visibility with the council and stronger relationships

    What are the benefits?

    Improved cashflow enabling you to plan ahead and grow your business

    Hassle-free service and fast-tracked processing - no chasing, no delays

    Increased visibility with the council and stronger relationships

    Who provides the service?

     

    Aberdeen Council is working with Oxygen Finance to deliver this programme.

     

    Oxygen Finance is a specialist provider of payment solutions and the leading provider of early payment programmes. To find out more visit the Oxygen website.

    What happens next?

     

    Set-up is quick and straightforward and there is dedicated support on hand if you have any queries or need additional help.

    Council endorsements

    ACC - Craig Innes

    Craig Innes
    Head of Procurement

     

    “We view the Service as an excellent way of building positive, long term relationships with our suppliers whilst improving process efficiency.”

    ACC - Angela Scott

    Angela Scott
    Chief Executive

     

    “The Supplier Incentive Service is a key initiative for the Council and is part of our ongoing commitment to supporting our supplier base whilst driving liquidity into the local economy.”

    ACC - Steven Whyte

    Steven Whyte
    Head of Finance

     

    “The Supplier Incentive Service allows the Council to pass real cash flow benefits back to our suppliers – vital when economic conditions are difficult.”

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    Request a call to talk through with one of our advisers

      View the Brochure

      Aberdeen City Council has partnered with Oxygen Finance to deliver this programme.

       

      Copyright 2019 Oxygen Finance.