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C2FO Powers Early Payment Programs for the World’s Largest Companies.
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The cloud spend management platform will now support early payment powered by C2FO.
C2FO is teaming up with Ivalua, a global leader in cloud spend management solutions, to offer its dynamic discounting platform through Ivalua’s source-to-pay platform that is used by hundreds of the world’s leading brands.
Ivalua already allows procurement teams to manage the entire supplier relationship through a single, powerful portal where users can manage suppliers, direct the sourcing process, create and negotiate contracts, and much more. By teaming up with C2FO, Ivalua is enhancing that experience with a suite of new, on-demand payment management tools.
With its C2FO partnership, Ivalua will make it easier than ever for its users — including CFOs, treasury teams and other financial professionals — to accelerate payment to their suppliers in exchange for an early-payment discount of 1% to 3%.
Unlike static discounting with terms like 2/10 net 30, dynamic discounting allows suppliers to offer customized discounts that are often more appealing to their customers and typically lead to faster payment. Discounts can be approved the same day they’re made, with payment arriving the next day.
And that, of course, unlocks a host of benefits for Ivalua users, including a greater return on their cash.
The discount is greater than any gain they could have made by keeping those funds in savings or short-term investment vehicles.
“Enabling dynamic discounting to be part of the complete source-to-pay process on the Ivalua platform turns our customer cash into a liquidity asset,” said Pascal Bensoussan, Chief Product Officer of Ivalua.
“Embedding payments was the first step, and now we can help our customers generate even more value from their supplier relationships and focus on bottom-line growth.”
By giving their suppliers easy access to liquidity, Ivalua users will also be strengthening their supply chain, ensuring their suppliers are able to continue operating smoothly.
They may also be building closer, more collaborative relationships with suppliers. A study by Forrester Consulting, commissioned by Ivalua, found suppliers were more willing to collaborate and share innovations with customers that paid in a timely manner and offered visibility into their payments.
Essentially, everything that users can accomplish through C2FO’s platform will now be possible through Ivalua’s interface. The new capability will begin rolling out in late June to a select group of Ivalua users and become available to a larger user base over the second half of 2022.
Learn more about Ivalua here, and take a look at the news release about its new partnership with C2FO.
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Once you have an account set up, you can submit an offer by viewing invoices that are eligible for early payment, selecting “Build New Offer” and following C2FO’s easy-to-use prompts.
After activating and logging in to your C2FO account, you can view and manage your invoices from Invoice Central.
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