Flex Pay rapidly enables companies access to flexible payment schedules. The company’s suppliers will still get paid on their current terms with no changes to their processes.
Invoice created for $100,000
Your company receives invoice from one of your suppliers for $100,000. Working with Raistone, your company reconciles the invoice and requests:
Raistone pays supplier $100,000
Raistone arranges for your supplier to be paid on their original terms at full face value.
Your company does not yet pay, however, as you have extended their payment terms by an additional 30 days, with no effect on your supplier whatsoever.
Your company pays $100,000 + service fee
Your company has extended their payment terms to 60 days, even though your supplier continues to get paid at day 30. To enable this seamless transition to longer payment schedules, your company pays a service fee.
Flex Pay empowers businesses to control their cash position and better manage their funds.