PROACTIS Holdings PLC Agreement with GB Group
May 29 2019 - 2:00AM
RNS Non-Regulatory
TIDMPHD
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."
<ENDS>
For further information, please contact:
Proactis Holdings PLC
Tim Sykes, Chief Executive Officer 01937 545070 x1115 investorcontact@proactis.com
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 020 3405 0205
Modlin proactis@almapr.co.uk
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
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END
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