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PROACTIS Holdings (PHD)

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Wednesday 29 May, 2019

PROACTIS Holdings

Agreement with GB Group

RNS Number : 3922A
PROACTIS Holdings PLC
29 May 2019
 

PROACTIS Holdings PLC

Proactis signs agreement with GBG to support delivery Accelerated Payment Facility

 

PROACTIS Holdings PLC ("Proactis" or the "Company"), the global spend management and B2B eCommerce solution provider, is pleased to announce that it has signed a supply agreement with GB Group Plc ("GBG"), the identity management specialists, to support the delivery of Proactis' Accelerated Payment Facility ("APF").

 

Proactis will integrate with GBG's identity validation solution, GBG IDscan, to support the digital onboarding of suppliers to the APF, whilst preventing the risk of fraud. Supported by the integration of GBG IDscan, Proactis estimates that supplier set-up will take less than three minutes with subsequent accelerated payment requests taking less than 30 seconds.

 

GBG captures the textual and image information from more than 4,000 global identity documents and deliver automated authentication results, which will support the international roll out of the APF.

 

Anthony Persse, Financial Solutions Director of Proactis, stated: "We are very happy to be working with GBG, marking an important milestone as we continue to build our Accelerated Payment Facility product.  This relationship will further enhance our simple and swift onboarding process for suppliers and importantly add another layer of security. We remain committed to investing and developing our core innovative B2B commerce and networking offerings and this is one such example. We are excited by the opportunity and we look forward to further developing our early customer adopter programme."

 

Adam Desmond, Client Director, at GBG, commented: "We are delighted to be working with Proactis and are committed to supporting the delivery of the Accelerated Payment Facility, which is aimed at driving much needed liquidity to SMEs on an international basis."

 

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For further information, please contact:

Proactis Holdings PLC

 

Tim Sykes, Chief Executive Officer

 

01937 545070 x1115 [email protected]

finnCap Ltd

Stuart Andrews/Carl Holmes/Simon Hicks - Corporate Finance

Andrew Burdis/Richard Chambers - ECM

 

 

0207 220 0500

 

Alma PR

 

Rebecca Sanders-Hewett, Hilary Buchanan, Sam Modlin

 

020 3405 0205

[email protected]

 

 

About Proactis:

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 1,000 buying organisations around the world from the commercial, public and not-for-profit sectors.

Proactis is head quartered in the UK and floated on the AIM market of the London Stock Exchange in June 2006.

 

About Accelerated Payment Facility:

 

Proactis' Accelerated Payment Facility (APF) enables suppliers to get paid sooner for invoices that would otherwise be due for payment at some point in the future. 

 

Unlike traditional supplier finance solutions, the APF is completely discretionary, whereby suppliers are pre-approved and can choose which invoices to accelerate for a small discount, with no other fees or charges.  It does not impact on the supplier's credit scores or rely on any security being given by the supplier.  The APF makes best use of technology to maximise automation, creating simplicity and transparency with swift sign up (estimated to be 3 minutes) and subsequent requests taking just seconds, targeting optimal efficiency and access to funds.

 

For buyers the APF delivers supply chain health, a positive corporate social responsibility message, cash flow harmonisation, cost savings and a potential alternative income stream.

 

About GBG:


Through our fundamental belief that the digital economy relies on everyone having access to data they can trust, GBG enables companies and governments to fight fraud and cybercrime, to improve the customer experience and help to protect the more vulnerable people in our society.

Headquartered in the UK and with people in 18 countries, GBG has some of the world's biggest organisations as its customers, from established brands like HSBC, Zurich Insurance, LEGO and Lufthansa, to disruptive newcomers such as Stripe and Plus500.

Find out more about how we use identity data intelligently at www.gbgplc.com, following us on Twitter @gbgplc and visiting our newsroom: www.gbgplc.com/newsroom

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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