Optal, a world leader in optimising B2B transactions, today announced that its Invapay platform has been selected for the second year running as a framework supplier on the UK government’s G-Cloud, providing essential support for public sector supplier payments.
The G-Cloud is a long-running government initiative designed to make it easier for public sector bodies to buy digital services. An Apple-style Digital Marketplace allows central and local government organizations to access cloud hosting, software and support through frameworks, making the procurement process cheaper and quicker than entering into individual contracts.
Optal’s innovative Invapay service will be offered on the latest version of the platform, G-Cloud 11.
“The public sector has a large and complex supply chain where many suppliers may not accept credit cards. Invapay overcomes these core challenges with streamlined payment processing to optimise cashflow, cut costs and inefficiencies and protect key supplier relationships,” said Andrew Watson, Global Head, Working Capital Solutions, Optal.
“Our selection for G-Cloud for the second year in a row highlights the benefits we’re already driving for public sector organisations up and down the country, just as we’re doing for corporates around the world. We’re looking forward to optimising payments for many more organisations this year.”
Invapay works by acting as a payment service provider, enabling clients to pay all their suppliers by credit card — even those that don’t accept cards. Invapay receives the funds from the public sector buyer and then sends them on seamlessly to the supplier via EFT.
This enables finance chiefs to consolidate supplier payment methods onto one streamlined process for all, reducing administrative overheads and enabling them to maximise working capital whilst ensuring suppliers are paid on time, every time.
It’s highly secure, integrates with existing PO and approved procedures, and drives simple, automated reconciliation to further reduce costs.
To find out more on how Invapay and Optal can transform your business through optimised B2B payments, get in touch today +44 (0)333 230 1842 or talk to us info@Optal.com .