Working capital solutions provider Taulia and the UK’s NHS Business Services Authority (NHSBSA) have been recognized with a prestigious Bobsguide Partnership Award for the best supply chain system implementation project management. The Bobsguide Partnership Awards showcase the best partnerships in the fintech market, with the judging panel carrying out several rounds of assessment.
Paying pharmacy contractors on time is key to avoiding supply chain disruption and ensuring the British public has access to fully stocked pharmacies. Last year, NHSBSA launched a new Pharmacy Earlier Payment Scheme (PEPS) with Taulia and funding provider Greensill Capital. The scheme, which was launched in just eight weeks, helps pharmacies accelerate funds owed to pharmacy contractors while avoiding the need for time-consuming KYC processes. Over 1,500 contractors have now transitioned to the new program, which has accelerated over £1 billion of early payments in the last year.
Martin Kelsall, Director of Primary Care Services at NHSBSA said, “A highly competitive cost of borrowing has been made available to all pharmacists at a fixed rate. Now, participating pharmacists have access to cash far earlier than before, improving their trading options with suppliers and wholesalers. Partnering with Taulia enables the NHSBSA to offer a scheme that is easy to switch to, simple to manage and dependable.
“NHSBSA processes 1.1 billion prescriptions a year. By lending their extensive supply chain finance knowledge, Taulia and Greensill Capital have been able to add real strategic value to NHSBSA’s offering.”
Taulia has further supported the program by arranging workshops and building a website to educate pharmacy contractors about the scheme. Contractors participating in the scheme have been able to improve their cash flow, reduce their cost of borrowing and invest in growth in an uncertain market.
“We’re delighted that this outstanding project has been recognized with a Bobsguide Partnership Award,” said Michael Rieskamp, Head of European Sales at Taulia. “The new scheme benefits not only participating contractors, but also the UK public.”
To learn more about PEPS and its benefits visit www.customers.taulia.com/nhs-bsa.
Note to editors:
Taulia delivers working capital solutions that make it easy for businesses to free up cash, accelerate payments and improve supply chain health.
Since its foundation in 2009, Taulia has envisioned a world where every business can thrive by liberating cash using our state of the art platform. Today our team of financial game changers have built a network connecting 1.6 million businesses across 168 countries and has accelerated more than $100 billion in early payments.
Taulia is headquartered in San Francisco with locations across the United States, Europe and Asia Pacific.