Are you looking for supplier finance?
Take control of your supply chain by providing your suppliers with access to early payment against their invoices, giving you the opportunity to extend payment terms. This is also sometimes called reverse factoring.
The cost of funding can be incurred by either yourself or by your supplier, this would be agreed in advance of the facility.
Why should I use a supplier finance facility?
In 2019, the government announced that businesses could be fined for failing to pay smaller suppliers on time. One of these measures would be to make the company boards accountable for supply chain payment practices to small businesses, they hope that this will increase transparency and reduce late payments.
These measures would force audit committees to report payment practices in company annual reports.
Also, payment practices can indicate how strong or weak your relationship is with your suppliers, late payment could: