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800-422-5995

9

THE BIDPAY

®

PROCESS:

SIMPLICITY

WITHOUT

SACRIFICE

BidPay

®

requires no change of business process for

buyer or supplier. Buyers simply export a file of eligible

payables from their Enterprise Resource Planning

(ERP) software or accounting system to

BidPay

®

.

Eligible payables correspond to your suppliers’

invoices, which you have approved for payment.

Your suppliers that have any eligible invoices receive

an Auction Notice from

BidPay

®

on Tuesday. The

Auction Notice will contain a list of your approved

payments that are eligible for immediate discounted

payment. Your supplier has 24 hours to simply click

on the invoices it would like to collect that Friday.

Suppliers submitting acceptable discount bids will

be notified at the end of the auction on Wednesday.

You will receive a file from

BidPay

®

reflecting the

necessary adjustment, and you will pay those

suppliers’ invoices that Friday, minus the agreed

discount. Suppliers that do not bid, or whose

discount bids are not acceptable, are paid when their

invoices are due. The process is repeated weekly.

UNPREDICTABLE DISCOUNTS =

GREATER GROSS MARGIN

Making discounts unpredictable, combined with

widening the

discount opportunity window

, are the

two most novel and critically important features

of

BidPay

®

’s design. Suppliers that are unable to

predict the discounts you will accept are effectively

prevented from building discounting into their

pricing models.