Barclays launches Supplier Finance Service

19 September 2007

Barclays today announced the launch of its supplier finance service aimed at corporate customers and their suppliers.

Barclays Supplier Finance Service is an innovative solution that allows both parties to a commercial transaction to manage working capital requirements and business processes associated with the supply chain more effectively. The proposition provides a platform upon which Buyers can better manage payment terms and enhance their Days Payables Outstanding (DPO), while suppliers will benefit from an accelerated payment option, offering a discounted early settlement of their trade receivables, reducing their Days Sales Outstanding (DSO). Both parties will be able to access the facility via a secure web interface.

Angela Potter, Head of Barclays International Trade and Cash Solutions said:
"As corporate supply chains become increasingly complex, businesses require more sophisticated means to help manage working capital. The Barclays Supplier Finance Service provides an effective tool to both improve working capital positions and enhance the efficiency of business processes.

"Both buyers and suppliers will be able to benefit from the service. Suppliers are able to access competitive receivables finance through their inclusion within a buyers supply chain programme, while buyers can enhance payment terms without adversely affecting their supplier relationships. The efficiency improvements should come at a welcome time for treasurers as they contemplate important changes in the payments arena such as SEPA.

"This new service proves our commitment to providing our global customers with innovative trade and cash management solutions. Initial feedback has been excellent and we look forward to demonstrating the service more widely over the coming months."

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