InvoiceBazaar is a platform built to connect SME suppliers to Mid/Large buyers in the United Arab Emirates.
The platform helps suppliers to get status of their invoices through the mobile app/cloud system as well as provides an option to sell their invoices for cash thereby helping with working capital cycle.
The platform helps the buyers by optimizing their procurement process and provides option to either opt for increasing DPO (Days Payable Outstanding) or start earning additional income by helping the SME suppliers.
No. Discounting is offered by financial institutions as a loan with
complete recourse on the supplier. The invoice normally does not have any binding by the buyer to make payment to the financial institution on due date.
However, the supply chain solution offered through InvoiceBazaar is a true purchase of a receivable where the supplier can have the receivable taken off the balance sheet.
InvoiceBazaar is a buyer-centric supply chain platform which
provides visibility of invoices accepted by buyers once the buyer has an agreement with InvoiceBazaar.
Invoices are purchased by Invoice Bazaar Receivables Limited a company which has a mandate to purchase receivables restricted to specific buyers.
“Getting an invoice discounting line from our bank was a nightmare. With InvoiceBazaar’s supplier solution, we just deliver the goods and get paid within 3 days. To top it all, I don’t even need to worry about chasing my client for payments”
Wholesale Fish Supplier to four hypermarkets in Dubai
“Ever since we partnered with InvoiceBazaar’s supply chain finance solution, our accounts payables has not only become more efficient but also we have turned our procurement department into a revenue generator!”
Large supermarket chain in Dubai, UAE