B2B digital payments integration specialist, Adflex, has announced that its contract to deliver push payment services to residential developer L&Q has been extended until July 2020.
Adflex’s PCI-compliant Push Pay service automates supplier payments using a commercial card and enables L&Q to benefit from significant financial and operational efficiencies. By eliminating manual accounts payable (AP) processes, L&Q has been able to reallocate internal resources, significantly reducing operating costs. Human error in the payments process is also eliminated, and consistent, high quality management information is delivered as standard.
Andy Downman, Commercial Director, Adflex, comments: “We enable strategic advantage for buyers and suppliers around the world by dramatically simplifying payment processes. As a valued, long-term client, we are delighted that L&Q chose to continue using Adflex Push Pay and look forward to continuing to support its supplier relationships through digital payments integration and automation.”
L&Q’s supplier relationships have benefitted from the payment automation, as payments are made and remittances sent within 48 hours of suppliers uploading an electronic invoice to L&Q’s supplier portal.
Additionally, Adflex Push Pay maintains security by utilising securely tokenised purchasing cards and removing the requirement to expose card details to L&Q or its suppliers.
Anu Mensah, Head of Treasury, L&Q, adds: “We are proud to work with a variety of national, regional and local suppliers, and are fully committed to building strong, long term relationships with them. Prompt payments are fundamental to those relationships, and our ongoing partnership with Adflex enables us to execute payments quickly, securely and transparently while achieving operational efficiencies through automation.”
Adflex creates unique value in the global B2B supply chain by delivering fast and cost-effective digital payments integration. L&Q is a regulated charitable housing association and one of the UK’s most successful independent social businesses, housing 250,000 people in more than 95,000 homes across London and the South East.