Pause the Prompt Payment Clock
Through automation and pre defined business rules - now is the time to adopt a true e-invoicing solution that allows you to adhere to payment terms.
The Prompt Payment Code is getting an update
As of 1st April 2022, Main Contractors will need to adhere to new prompt payment requirements in order to tender for Government contracts.
Whilst the Prompt Payment Code is considered voluntary, more construction firms recognise the need to support the complete construction supply chain and provide support where they can.
With the clock for payment terms starting when a supplier sends an invoice, Construction companies are looking at a technological solution that can streamline the process for them, thus helping reduce manual intervention and increasing automation and ultimately paying suppliers on time.
If you are a Prompt Payment signatory, considering joining or just want a better process and system in place, read our blogs or use our intuitive savings calculator to find out how much you could save by trading up to Tradex.
Achieve true e-invoicing with Tradex
Tradex supports business to adhere to the prompt payment code through automation. Reducing manual intervention and missed payment deadlines.
Tradex is a complete e-invoicing solution designed and built for construction finance, delivering documents directly to your ERP if an invoice meets your predetermined requirements. It also enables, invoice approval workflows, self-service invoice status and reconciliation capabilities and more.