CLS Holdings PLC

Regulatory Filings • Dec 9, 2020

National Storage Mechanism | Additional information

RNS Number : 9905H

PROACTIS Holdings PLC

09 December 2020

Proactis Holdings PLC

First bePayd contract

Proactis Holdings PLC, the business spend management solution provider, is pleased to announce that it has signed its first contract for the provision of bePayd, its accelerated payment service, with Experbuy, a French company offering a business process outsourcing solution that enables companies to manage their tail spend purchases more effectively.

Experbuy is a subsidiary of EPSA, a group with international operations helping organisations increase performance and profitability through three major areas of expertise: support with purchasing, organisation, performance and change management issues; cost control through the optimisation of tax, social security and occupational accidents; and the marketplace (which Experbuy forms part of).

This contract enables Experbuy to deploy bePayd for use by its own suppliers which aggregate to approximately €180m of annual spend across 65,000 suppliers. 

bePayd allows suppliers to accelerate the payment of an approved invoice in return for a small discount and is primarily aimed at the long tail of small suppliers in the supply chain, a population that is currently underserved.  bePayd is market-leading in its simplicity, speed and convenience without any detriment to security or risk and is entirely flexible down to single invoice level with extremely low values because of the end-to-end automation of the process. Funding of the early settlement can be provided by the customer (as is the case with Experbuy), Proactis (through a dedicated facility with HSBC) or a blended model.

Tim Sykes, Proactis CEO, commented:

"I am delighted to have signed our first bePayd contract with Experbuy, part of the EPSA Group.  We look forward to working with Experbuy to drive take-up of this great service to suppliers over the coming months and beyond. As we look forwards, the solution has never seemed more relevant, and with a healthy pipeline of opportunities, we are optimistic about its prospects in 2021."

For further information, please contact:

Proactis Holdings PLC	01937 545070 x1115
Tim Sykes, Chief Executive Officer Richard Hughes, Chief Financial Officer	investorcontact@proactis.com
finnCap Ltd Carl Holmes/Emily Watts/Matthew Radley - Corporate Finance Andrew Burdis/Richard Chambers - ECM	0207 220 0500
Alma PR
Rebecca Sanders-Hewett/Sam Modlin/David Ison	020 3405 0205 proactis@almapr.co.uk

Notes to Editors:

Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure.  Its solutions are used in approximately 1,100 buying organisations around the world from the commercial, public and not-for-profit sectors. 

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