PROACTIS Holdings PLC bePayd Strategic Contract Win
February 24 2021 - 1:00AM
RNS Non-Regulatory
TIDMPHD
PROACTIS Holdings PLC
24 February 2021
Proactis Holdings PLC
bePayd Strategic Contract Win
Proactis Holdings PLC, ("Proactis", the "Group" or the
"Company"), the business spend management solution provider, is
pleased to announce that it has signed a contract with Denbighshire
County Council ("DCC") to provide its early payment service,
bePayd, into DCC's supply chain.
bePayd will enable DCC's suppliers to receive an automated
notification of approved invoices with the option of accelerating
payment before the pre-agreed contractual terms. Proactis will fund
the accelerated payment in exchange for a small discount paid by
the supplier.
It is anticipated that bePayd will be offered, within the first
year, to approximately 3,000 suppliers that generate over 50,000
invoices per annum with a spend value exceeding GBP100m.
Councillor Julian Thompson-Hill, Denbighshire County Council's
Lead Member for Finance, Performance and Strategic Assets,
commented:
"The Council recognises the importance of its valuable supply
chain, especially in these difficult times. Proactis has recognised
the needs of our suppliers and we are keen to be able to offer
bePayd to them."
Tim Sykes, Chief Executive Officer at Proactis, commented:
"DCC is a long-standing and valued customer of Proactis and we
are delighted that it has agreed to offer bePayd to its suppliers.
bePayd is a natural extension to the portfolio of Proactis'
existing solutions adopted by DCC and we expect that it can drive
liquidity into the supply chain. We will now work closely with DCC
to design and implement bePayd's roll-out and look forward to
updating the market in line with progress."
For further information, please contact:
Proactis Holdings PLC
Tim Sykes, Chief Executive Officer 01937 545070 investorcontact@proactis.com
Richard Hughes, Chief Financial Officer
finnCap Ltd
Carl Holmes/Emily Watts/Matthew Radley -
Corporate Finance
Andrew Burdis/Richard Chambers - ECM 0207 220 0500
Alma PR 020 3405 0205
Sam Modlin/David Ison/Molly Gretton Proactis@almapr.co.uk
Notes to Editors:
Proactis creates, sells and maintains software and services
which enable organisations to streamline, control and monitor all
indirect expenditure. Its solutions are used in approximately 1,100
buying organisations around the world from the commercial, public
and not-for-profit sectors.
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END
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