bzTrack allows suppliers to invite their customers to enjoy invoice discounts for early payments to increase cash flow, a win-win for both parties. This process can be for individual customers, for groups of customers or across all customers for that supplier.
By giving your customers incentives to pay your invoices earlier, your organisation can increase their cashflow without involving third parties with factoring, or banks through overdrafts and lending. Suppliers are happy because they are paid earlier, and customers are happy because they are paying less!
You can easily switch these invoice discounts on or off, or even put them in place for a specific timeframe (such as an End of Financial Year sale). Invoice discounting offers can be assigned to individual customers, or entire groups of customers.
For every invoice you send to a customer, you can choose a percentage discount you want to apply for early payment of that invoice. Different discounts can be applied for different payment timeframes.
You can set up to 4 discounting timeframes. choose 1, choose 4 - the choice is yours! Typically, the longer the timeframe, the less discount is applied, but the Supplier chooses the terms.
bzTrack will then notify the respective customers about the potential savings available. The customer then chooses the discount option which suits them and pays their invoice when it's time.