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PUBLIC BUYER SOLUTIONS

We use the term "Public Buyer" to represent public/government organisations such as municipalities. Obillex enables buyers in the public sector to support and energise their local economies - while simultaneously generating extra funds to use for important services. Many small and medium-sized enterprises (SMEs) need extra cash, but the supplier finance sector is currently inefficient, fragmented and capacity constrained. SMEs face high charges from banks and invoice-factoring companies, which stifles local investment and economic growth. With the Obillex Community, public sector organisations can drive down the cost of finance across their supply chains, quickly putting cash into the hands of SMEs, so these smaller firms can stay in business, thrive and stimulate the local economy. It's a great example of localisation and decentralisation in action. When suppliers are expecting payments from public sector organisations, Obillex arranges for early payment, so they don't need to wait 30, 60 days or more. Giving you as the buyer a very happy supplier and less pressure on your Accounts Payable department as you wouldn't have to make your invoice payments up until the settlement date of your contract. If suppliers choose this route, they only pay a modest fee. There's no charge to you as a public sector buyers but rather, the opportunity to generate an income and direct the money to protect jobs and services. The Obillex platform connects securely and seamlessly with finance and invoicing systems used across the public sector. Find out more on how Obillex benefits you as a public buyer below.

KEY FEATURES AND BENEFITS

01

Enables support for local SMEs

Public sector organisations can help local SME suppliers get cash quickly and affordably. Obillex will rapidly initiate the payment, once purchase orders or invoices are issued. This can help keep SMEs afloat, investing and thriving.

02

Saves costs for your suppliers

Institutional investors know that public sector organisations in the UK are solvent and the risk of default is extremely low. That enables Obillex to initiate the release of funds quickly to suppliers and charge very little.

03

Creates a powerful engine for local growth

Obillex enables organisations to lower the barriers to affordable finance, making their 'region' an attractive place to do business, and helping to balance the UK economy. The Obillex solution also ensures that if a prime contractor goes bust, their sub-contractors can still receive the money due to them.

04

Raises extra funds to use for your services

Everyone benefits from joining the Obillex Community. Organisations can turn Accounts Payable (AP) functions into a profit centre. Obillex will rebate a share of the fees for each transaction to your organisation.

05

Reduces pressure on AP teams

Hard-pressed suppliers (and invoice factoring firms they use) may keep chasing AP teams for payments. But Obillex makes the payment come through quickly, saving a lot of stress for everyone.

06

Achieves Government payment targets

Obillex provides a dashboard for all transactions so your organisation can be sure it’s fulfilled its responsibilities.

07

Comply with the Fair Payment Scheme

The Obillex solution can release cash for both prime- and sub-contractors within 30 days (total elapsed time), under the terms of the Fair Payment Scheme. We provide a capability to audit (and even to enforce) the extent to which cash from a public sector organisation is being deployed for the benefit of the communities it affects.

08

Lead the public sector by example

The Obillex solution is a genuine, innovative way to help SMEs in regions across the UK. Obillex supports the development of an SME-powered, enterprise-based economy - and is a catalyst for regional economic growth.

09

No significant operational impacts

It's free and easy to join the Obillex Community. Organisations do not need to purchase any equipment or licences - or make radical changes to workflows or processes. Obillex connects easily with finance and invoicing systems - and operates 24/7 online, delivering an outstanding end-to-end experience.

10

Get started easily

Obillex is easy for the UK public sector to procure. We can initiate pilot programme with a basic agreement or alternatively we have been accepted into the G-Cloud 7 framework.

11

Relies on a secure financing platform

The Obillex solution is based on a secure, financial infrastructure 2.0 platform, trusted by large buying organisations. Obillex is a corporate member of the Association of Corporate Treasurers. Our team has held board and senior management positions within McKinsey, Axa, PwC, Royal Bank of Scotland, ABN AMRO and Citigroup.

Answers to frequently-asked questions (FAQs)

Every kind of SME - because businesses of all types can always make use of earlier cash. Some SMEs will want larger reserves to see them through tougher trading conditions, while others will be looking for extra finance to support growth. 

Yes. Obillex has the power to cascade money down the supply chain, bringing low-cost liquidity to local economies. The initial supplier doesn't have to 'cash' the Obillex payment available to them. If they prefer, they can pass it directly down the chain to their own suppliers - as an optional way to settle bills quickly. And it's those suppliers that pay the small fee if they want early payment.  

It free to sign up for the buyer’s organisation. In fact, we pay them a share of the fee we charge for every early payment made to suppliers

The cost is very modest. The amount can vary. But typically it's significantly less than a bank would charge for a loan and a fraction of what an invoice factoring company would charge. Put simply, the Obillex solution is likely to be the most inexpensive source of cash available to SMEs.  

Chiefly, there are two reasons. Firstly, we engage with institutional investors who know that public sector organisations are reliable payers. Secondly, our service is online and highly-automated, which minimises administration costs for everyone. 

Yes. But the fee charged is usually slightly greater to suppliers, as the institutional investor is taking the risk that the goods/services have not yet been delivered.  

Yes. We're being clear that everyone has to benefit from the platform. But we're also explaining that the relative cost per transaction is small, while the benefits gained by suppliers are significant. 

No. Many public sector organisations will simply offer Obillex to their suppliers as an option - if they'd rather not wait until payment day, whether that's 30, 60 or more days.  But if suppliers prefer to wait to be paid as normal, that's fine.  

The Obillex Solution has been extensively vetted by the public sector and other stakeholders in the Finance, Accounting, Banking and Legal sectors.

Obillex has access to significant liquidity support for suppliers to the UK public sector. Obillex has partnered with very large, non-bank institutional investors who are willing to deliver extensive liquidity for UK public sector suppliers.

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