Hillingdon Council

Supplier Incentive Programme

 

A new service for key suppliers

Request a call

Use the form below to request a call from one of our team.

Welcome to our Supplier Incentive Programme

 

We are delighted to announce the launch of the Supplier Incentive Programme, a new initiative that enables us to pay you ahead of contracted terms by streamlining our payment processes.

Welcome to our Supplier Incentive Programme

 

We are delighted to announce the launch of the Supplier Incentive Programme, a new initiative that enables us to pay you ahead of contracted terms by streamlining our payment processes.

Why are we introducing the Supplier Incentive Programme?

The programme delivers faster remuneration and improved working capital for you, whilst helping us to make predictable savings and improved operational effectiveness.

We believe that strong partner relationships and our commitment to early payment will have a significant impact on the growth and development of your business.

With funding not keeping pace with growing demand for services, the council are continuing to improve out working practices to secure savings and protect front-line services.

Why are we introducing the Supplier Incentive Programme?

The programme delivers faster remuneration and improved working capital for you, whilst helping us to make predictable savings and improved operational effectiveness.

We believe that strong partner relationships and our commitment to early payment will have a significant impact on the growth and development of your business.

With funding not keeping pace with growing demand for services, the council are continuing to improve out working practices to secure savings and protect front-line services.

How does it work?

 

The Supplier Incentive Programme 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.

What are the benefits?

Working capital improvements from accelerated invoice payment as early as 5 days from invoice received date.

A robust audit trail and minimised processing errors from the automated process.

A completely transparent process with no changes to legacy systems, other than the rebate directly proportional to how early it is paid.

What are the benefits?

Working capital improvements from accelerated invoice payment as early as 5 days from invoice received date.

A robust audit trail and minimised processing errors from the automated process.

A completely transparent process with no changes to legacy systems, other than the rebate directly proportional to how early it is paid.

Who provides the service?

 

Oxygen Finance is supporting us in delivering this programme.

 

The specialist provider of payment solutions and leading global provider of early payment programmes in the public sector. The company works with a range of organisations across local government and health, to drive savings, improve operational efficiency and contribute to the social value agenda.

What happens next?

 

Request a call to speak to one of our team and they will take you through the next steps.

 

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

Supplier endorsements

Views from suppliers on early payment programmes at other London Councils.

Marc Colman, RC Services in Bexley
Provider of maintenance and emergency repair services for the council’s outdoor recreation facilities

 

“We’re a family-run business and have been working with Bexley, which is our biggest client, for more than twenty years. Labour costs are our biggest outlay and being paid faster means we have the peace of mind that we can pay our contractors on time. Since the Supplier Incentive Programme was introduced, we’ve seen a difference in how quickly we are paid. If I send an invoice on a Monday, it is usually paid by Thursday and that’s enormously helpful when you’re running a small business with high labour costs.”

Andrew Hubbard, Managing Director, Under My Roof
One of the largest suppliers of temporary accommodation to Bexley council

 

“Cashflow is the lifeblood of a business and having access to swift payment, especially from major clients, is hugely reassuring – we can be confident that we’ll get paid as quickly as we can submit an invoice. Using the Supplier Incentive Programme has enabled us to grow our business in, what can only be considered, a very difficult time in the housing market.”

Request a call

Use the form below to request a call to talk through with one of our advisers.

View the brochure

Hillingdon Council has partnered with Oxygen Finance to deliver this programme.

 

Copyright 2018 Oxygen Finance.