RBS offers dynamic discounting with e-invoicing to corporate customers
The Royal Bank of Scotland has partnered with Taulia to be one of the first banks to offer its corporate clients dynamic discounting with e-invoicing.
Buyers will be able to offer early payments to their suppliers, who would have invoiced them electronically, in exchange for a discount.
The earlier the payment to the supplier the greater the discount will be to the buyer. By taking paper out of the process through e-invoicing, this speeds up the transaction time, facilitating early payment and creating cost-efficiencies for both the buyer and supplier.
Dynamic discounting with e-invoicing therefore aims to improve the working capital needs of the supplier while also helping the buyer make better use of their cash.
Jon Keating, Taulia’s European managing director, said:
“This new partnership builds on our recent financial announcement for the second quarter of this year which highlighted more than 350% growth in comparison to the same quarter in 2013, and clearly demonstrates the strength of our offering and its value to the UK and wider EMEA market.”
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