Virtualstock and Previse team up to deliver “purchase to pay” supply chain model
Previse and Virtualstock have teamed up to offer what they describe as a “fully integrated purchase to pay supply chain system with cash on delivery for suppliers in the UK”.
In a statement sent to Post&Parcel today (28 March), Previse said: “The two British supply chain technology companies will enable clients to merge their accounts payable and procurement functions, enabling suppliers to get cash-on-delivery.
“Buyers can now manage their catalogues, contract pricing, inventory and purchases as well as track deliveries through Virtualstock’s The Edge platform, while also ensuring their suppliers are paid instantly with Previse’s advanced machine learning technology and network of readily available funding.
“Virtualstock has a partnership with NHS Shared Business Services and The Edge platform is used by some of the UK’s leading retailers, including Tesco, John Lewis and Argos.
David Brown, Chief Product Officer at Previse, said: “Finally, the business to business purchasing landscape is beginning to look like the world of consumer payments that we all enjoy in our daily lives. Through this partnership, companies will be able to see what they’ve bought and where it is in real time, while suppliers will instantly receive payment for delivering their goods.”