LONDON, Feb. 10, 2021
LONDON, Feb. 10, 2021 /PRNewswire/ -- Experian, the world's leading global information services company, has partnered with C2FO, the world's leading online marketplace for working capital, to deliver the Experian Early Payment Programme. This programme, which is currently being rolled out, supports liquidity needs of Experian suppliers through the Coronavirus pandemic.
The C2FO platform enables suppliers to view their outstanding invoices and offer a discount rate to accelerate the payment before due dates. This programme allows suppliers to be in complete control so that they can determine which invoices to discount, and, through the acceleration of liquidity support, suppliers can purchase more inventory or equipment, expand operations and invest in their employees.
C2FO's technology is straightforward as it is designed to be synchronised with existing enterprise resource planning (ERP) software without changing the process or the manner in which suppliers are paid. As soon as a supplier's offer is accepted, the invoice is paid automatically, directly by Experian, without any change to the existing payment process.
"We are delighted to partner with Experian and look forward to bringing the benefits of a flexible working capital solution to their suppliers," said Mark Thomas, Chief Operations Officer at C2FO.
Mark Langrish, Global Chief Procurement Officer at Experian said:
"By partnering with C2FO and launching our Early Payment Programme, we are excited to provide enhanced payment/cashflow options to our suppliers. This dynamic, new approach will allow us to offer a simple and straightforward way for them to access early payments and supplement their cashflow."
Since its first transaction in March 2010, C2FO has generated more than $110 billion in working capital funding and accelerated payment by more than one billion days for companies in 183 countries.
To learn more about the C2FO platform please visit experian.c2fo.com
C2FO is the world's largest platform for working capital. We serve over one million businesses representing $10.5 trillion in annual sales across more than 180 countries. Our online platform connects more than $110 billion of daily accounts payable and accounts receivable. Whether you need working capital or have excess working capital, Name Your Rate, and the C2FO platform will match your request in seconds. You can accelerate or extend AP or AR on demand, providing you, your customers and your suppliers greater control over cash flow. You can also utilize AR financing and other data-driven funding options.
C2FO is working capital, working for everyone.
Our mission is to deliver a future where every company in the world has the capital needed to grow. To learn more, visit C2FO.com.
Experian is the world's leading global information services company. During life's big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 17,800 people operating across 45 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Dukas Linden Public Relations