Caliber.global partnered with ING, the Dutch banking and financial services corporation to facilitate a sustainable and efficient supply chain that considers smaller suppliers. The solution leverages Caliber’s IT-system to automate the three-way match between the purchase order, the invoice, and the receipt.
The solution allows businesses to stay in control and source centrally without the need to buy everything with general contractors or turnkey companies. The connection to ING allows companies to match investments with opening dates without pushing that financial burden to the suppliers. This approach keeps suppliers from increasing prices as a result of different payment terms, and it works on a global scale.
The retailer pays for all the project materials in one invoice and only when the project opens. Next to a working capital advantage of up to 270 days, they don’t have to administrate separate invoices to their suppliers worldwide.
Additionally, suppliers can decide when they want to be paid by entering their preference per invoice, in the ING portal. The discount costs are shown to them immediately, which are typically low since financing conditions in this setup are based on the financial strength of the ultimate buyer.