Supplier Early Payment Program
Thiess provides a Supply Chain Finance program for selected suppliers. The program helps to improve the cash flow of suppliers by enabling payment of invoices within 14 business days, in exchange for a small early payment discount.
About the program
Supply Chain Finance is a solution that optimises supplier's cash flow by allowing early payment of all approved Thiess invoices, in exchange for a small early payment discount. Payment is facilitated via our finance partner. It is free to join the program and there are no costs other than the pre-agreed early payment discount. Our solution improves your cash flow and reduces working capital requirements, allowing you to reinvest in your business.
Free to join: There are no set-up/administration fees or ongoing charges. The only cost should you choose to be paid early is a small % of the value of the invoice
Easy to join: Receive payment within 14 business days. Early payment through SCF frees up your existing credit lines, ensures consistency of payments and accelerates certification of payment claims
Inexpensive financing: The program is based on the strong credit rating of Thiess’ parent company (the ASX-listed CIMIC Group Limited) and is therefore less expensive than other financing options you may have access to
Non-recourse: SCF reduces credit exposure by allowing you to get paid early. Since this is not a loan, it is not classified as a debt, therefore enhancing your balance sheet metrics
Increased cash-flow: Early payment of your invoices improves your cash flow and reduces the need for other forms of financing
Improved balance sheet: By being paid early you reduce your debtors balance, improve working capital ratios and reduce liquidity risks. A strong balance sheet is helpful for reporting to your stakeholders
Hedge currency risk: If you are paid in a currency other than your desired currency, getting paid early allows you to mitigate the impact of exchange rate fluctuations.
To take advantage of our early payment program, please speak to your usual Thiess contact or email firstname.lastname@example.org.