- 10 Apr
Need Quicker Payments From Holland & Barrett?
Would you like to get paid quicker by Holland & Barrett? We may be able to help.
Quicker Payments Against Holland & Barrett Invoices
Holland & Barrett are Europe's largest health food chain with over 1,300 stores, and 4,000 staff. However, a recent article in the Guardian (08/04/19) suggested that supplier invoices may be regularly paid late, with an average of 68 days taken to pay suppliers. In a comment within the article, Holland & Barrett suggested that their agreed payment terms were actually 90 days as standard, so they are actually paying early.
The article went on to suggest that 60% of invoices are not paid within terms. Whatever the case, there are few businesses that can afford to wait 68 days for payment, let alone 90 days.
There will be a wide variety of trades supplying a large organisation in this sector, such as:
- Manufacturers of health foods and alternative natural remedies.
- Logistics, storage and haulage companies.
- Recruitment companies providing temporary or permanent staff.
- Shopfitters and other contractors fitting out and maintaining premises.
- IT contractors.
- Equipment suppliers.
- Printers, marketing and advertising agencies.
- Other services providers and advisers.
Slow payments could affect all of these sectors, and so a solution may be required.
A Solution To Late Payments
Whilst we would all like everyone to pay quickly, there is a need for a more pragmatic solution to late payments.
We can help put in place cash flow funding for you that will bridge the gap between you raising your sales invoices on credit terms, and getting paid by companies like Holland & Barrett.
You will receive a prepayment, up front, of the majority of the value of the invoice, with the balance paid when the customers pays (less a charge for using the service). You can receive this type of cash flow funding against all your sales invoices, or you can opt for a selective facility, where you pick and choose the invoices to have funded without any obligation to use the service again. This puts you in control of the amount of funding released, and the cost of the facility.