Early Payment Facility by Comensura

Comensura has introduced a revolutionary Early Payment Facility that is designed to offer businesses a flexible and efficient way to manage their finances and improve cash flow. This facility allows companies to set their payment terms with Comensura from as early as 3 days post-invoice date, providing a smarter way to work.

Key Features of the Early Payment Facility

The Early Payment Facility is easy to set up and offers numerous benefits:

Flexibility: Businesses can choose their own payment terms ranging from 3 days to standard payment terms.

100% Invoice Value: Comensura pays 100% of the net invoiced value, which can run alongside any existing funding facility.

No Minimum Commitment: There is no minimum commitment required, making it suitable for various business needs.

Transparent Fees: The administration fee is simple and low, with no hidden fees, long tie-in periods, monthly standing charges, or exit fees.

How the Early Payment Process Works

Setting up the Early Payment Facility is straightforward and consists of three main steps:

Contact Comensura: Discuss and agree on payment terms with Comensura.

Sign Agreement: Sign the Early Payment Facility agreement.

Provide Bank Details: Submit your bank details to Comensura.

This process ensures funds are processed quickly, utilizing CHAPS payment methods to guarantee payment by close of business Thursday, following the submission of timesheet hours authorised in c.net.

Example of Weekly 3-Day Payment Term Process

Monday: Timesheet submitted by 12:00 PM.

Tuesday: Funds processed by CHAPS by 5:00 PM.

Thursday: Payment received; remittance issued for 100% of invoice value minus admin fee.

Benefits of Early Payment Facility

The Early Payment Facility offers several advantages to businesses:

Improved Cash Flow: Receive 100% of the total invoice value from as early as 3 days.

Funds Availability: Use the facility as a one-off to fund unexpected expenses or peak demands.

Control: Replace 'paid when paid' with a guaranteed weekly payment process.

Support Growth: Use the facility alongside any existing funding arrangement to support growth, expansion, and sudden peaks in demand.

Customer Testimonials

Director Contact Industrial: "Comensura’s affordable Early Payment Facility has improved our cash flow to fund our ambitious growth plans. The full process itself is fast, simple, and easy to use. Highly recommended!"

Frequently Asked Questions

How quickly can this be set up? You will receive a quote within one hour of requesting terms with Comensura. Once you return your signed agreement, you are set up to be paid on the following Thursday.

Am I tied in? No, the facility can be used as a one-off service or, in the case of a weekly facility, an agreement will be provided to give each other one month's notice.

What does it cost? Comensura provides a highly competitive and simple administration fee based on how many days early businesses want to be paid. The charge will be a percentage of the total invoice value paid and will be applied to the invoice, with no additional charges.

Can I use this facility for customers who do not work with Comensura? Unfortunately not; this facility can only be provided for invoices processed via c.net, which is why it can be used alongside any existing funding facility.

For further details or to discuss the Early Payment Facility, contact Aaron Wawman, Sales Director, at aaron.wawman@comensura.com or call 07773 672569.

Delivering a smarter way to work.