Looking to simplify your technology supplier invoices?
What is Invoice Management Facility?
At Close Brothers Technology Services we understand that managing multiple technology supplier invoices can be time consuming, an administration burden and a drain on your cash. In order to help businesses better manage this, we offer a technology invoice management facility.
Our Invoice Management Facility (IMF) provides your business with an accounts payable function for your technology invoices. We can consolidate all your invoices with different dates, incorporating phased project payments, which will in turn help you preserve your cash through invoice management.
How it works
The benefits to your business
Technology procurement often involves multiple suppliers and numerous invoices from those suppliers as equipment and services are ordered over a period of time, Close Brothers Technology Services IMF provides:
- Invoice management - Up front payment of invoices - we provide the accounts payable function, paying your technology suppliers whist preserving your cash.
- Simplified financial arrangements - At the expiry of your IMF, we can bundle your invoices into one or more agreements with different inception dates and terms, making payments simple.
- Enable phased project payments - When ordering larger amounts of technology this can inevitably arrive over different time periods. We can help you manage the implementation and refresh, paying your suppliers as equipment is delivered and arrange for your finance agreement to start once the project is completed.
If you are looking to...
Reduce your administration - Bundle your payments - Preserve cash
contact us today: 0800 090 2291
Terms and Conditions
- The specific terms and conditions are provided in the Master Invoice Management Facility.
- At the start of each facility period, usually 3 months, CBTS will issue a Facility Schedule which will state: The amount of invoices that CBTS will accept during the facility period. The service charge for the period. As at the outset the parties do not know the exact amount of the invoices CBTS will pay or the number of days the invoice will be on the facility, the service charge is expressed as a daily rate per £1,000 from the point the invoice is paid until the finance agreement commences.
- The suppliers are then instructed to address the invoices to CBTS.
- CBTS will bundle the invoices received on a regular basis and prepare an acceptable certificate for the Customer's approval. This is to ensure that the equipment delivered is as ordered and is accepted.
- CBTS will on return of the approved acceptance certificate pay the supplier.
- At expiry of the facility period CBTS will bundle the invoices paid into one or more finance schedules (for example the Customer may wish to finance different assets over varying terms). The Customer may opt for flexibility if finance is not required for certain expenditure and on notifying CBTS that expenditure will be invoiced to the Customer for reimbursement rather than inclusion on a finance agreement.
- The Customer will approve the finance schedules and on return to CBTS the finance agreement will commence.
- The service charge will be invoiced and paid with the initial repayment for the finance agreement.