How Does eFunding Work?
Driven by our best-in-class Supply Chain technology, Elcom’s sophisticated financing system advances funding at Purchase Order stage at typically up to 80% of order value within 48 hours. Once the invoice is approved, the remaining funds are paid. It’s very simple!
I’m A Buyer
REGISTER. Join the eFunding Programme;
ACTIVATE. ELCOM manages full implementation;
COMMUNICATE. All your qualifying suppliers beneﬁt from Purchase Order and Invoice Finance.
I’m A Supplier
APPLY. Register with ELCOM eFunding service;
QUALIFY. Receive an offer of financing;
RECEIVE. Start receiving funding.
Benefit from income generated by the programme.
Opportunity to reinvest income in the local community.
A visible commitment to local suppliers.
Suppliers access competitively priced working capital.
Funding is sourced by Elcom. No self-funding required.
No change to existing procurement or AP processes.
Minimal resourcing required. Elcom manages set-up, supplier engagement and also ongoing programme management.
Early access to working capital when most needed.
A cheaper alternative to traditional bank lending.
Highly competitive interest rates.
Reduced working capital costs.
SMEs now able to bid for more Public-Sector Contracts.
Transformed cash flow.
Other eFunding Features
6 compelling reasons why our proposition is unbeatable
FASTER FUNDS. eFunding offers suppliers up to 80% of the Purchase Order and 100% of invoice value within 48 hours.
BETTER RATES. Finance charges are usually significantly lower than those available from other lenders.
BIGGER RETURNS. Funds generated via the power of your spend. Partners earn a rebate based on their activity.
MINIMAL IMPLEMENTATION. Elcom’s team fully manages the process of Supplier on-boarding thereby requiring only minimal involvement from the partners.
FULL AUTOMATION. Funding is automated, managed by Elcom and based on all PO and Invoice information extracted from the programme partner’s systems.
BUSINESS BENEFITS. Procurement-linked finance can reduce pressure on AP Teams. No procurement process changes for either Partners or suppliers.
Two Decades Developing eProcurement Tailored Solutions
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