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|Yorkshire council leads the way in changing the culture of late payments to SME’s|
|Wednesday, 03 June 2015|
Barnsley Metropolitan Borough Council is leading a growing trend among councils to change the way that it pays its suppliers. In a shake-up designed to combat late payments, the council now operates a Premier Supplier Programme which enables it to accelerate the payment of invoices to its supplier base.
The programme, managed in partnership with Oxygen Finance Ltd, is a relatively simple concept; participating companies that sell to the council will have their invoices fast-tracked weeks in advance in return for a small negotiated deduction for the accelerated payment. This gives suppliers the ability to alleviate potential cash flow problems by giving them quicker access to their payments.
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