The Royal Bank of Scotland (RBS) has partnered with Taulia to be one of the first banks to offer its corporate clients dynamic discounting with e-Invoicing.
Buyers will be able to offer early payments to their suppliers, who would have invoiced them electronically, in exchange for a discount -- the rate of which is calculated dynamically. The earlier the payment to the supplier the greater the discount will be to the buyer. By taking paper out of the process through e-Invoicing, this speeds up the transaction time, facilitating early payments and creating cost-efficiencies for both the buyer and supplier.
Dynamic discounting with e-invoicing therefore aims to improve the working capital needs of the supplier while also helping the buyer make better use of their cash.
Jon Keating, Taulia's European Managing Director, said: "This new partnership builds on our recent financial announcement for the second quarter of this year which highlighted more than 350% growth in comparison to the same quarter in 2013, and clearly demonstrates the strength of our offering and its value to the UK and wider EMEA market."