Buyer driven payables report backed by Oxygen

by Richard Kilner

Story link: Buyer driven payables report backed by Oxygen

Oxygen Finance has declared its strong backing for the Supply Chain Finance Working Group (SCFWG) report which considers Buyer Driven Payables Programmes to be vital to improving funding in the UK.

The report has found that buyer driven programmes are a cut above traditional invoice discounting in terms of efficiency and that Buyer Driven Payables programmes offer the optimal method.

Benefits include more competitive rates, easier benefits and facility requirements planning and diminished risk.

Oxygen’s Early Payments Programme is one such Buyer Driven Payables programme, and the firm operates a Procurement and Accounts Payable operating model.

Oxygen CEO David Brown has described the report as very insightful, and fully supported by Oxygen Finance.

Brown went on to laud the finding that Buyer Driven Payables programmes can help buyers and suppliers improve their cashflow and working capital.