Early Payment Service (Premier Supplier Service)

Premier Supplier Service

Coventry City Council has an established Early Payment Service for our suppliers. Working with Oxygen Finance, the Premier Supplier Service gives our suppliers the opportunity to be paid earlier than contracted terms. The Premier Supplier Service (PSS) gives our suppliers the option to be paid as soon as an invoice is authorised, and ahead of the Council’s standard 30-day term, in exchange for a percentage rebate.

An innovative programme for suppliers of Coventry and Warwickshire Councils

The Premier Supplier Service gives our suppliers the opportunity to be paid earlier than contracted terms, whilst also enabling the Council to improve payment processes and generate much-needed savings.

The quicker we process and pay suppliers’ invoices, the more our suppliers benefit and the more the Council saves to pay for essential services for the people of the City.

The programme is now well established in Coventry, with over nearly 200 suppliers now signed up. Many other Local Authorities, including Warwickshire County Council, also operate the Premier Supplier Service where many of their suppliers are also benefiting from the service

What is the Premier Supplier Service?

The Premier Supplier Service gives you the option to be paid as soon as the invoice is authorised, and ahead of our standard 30-day terms, in exchange for a small, pre-agreed percentage rebate.

The rebate is proportionate to how many days we accelerate the payment by and is applied as the invoice is paid.

Payment is targeted at day 10 and the rebate is only applied if the invoice is paid earlier than 30 days.

Why have we chosen to introduce the Premier Supplier Service?

As a Local Authority, we face unprecedented financial challenges, with a growing funding gap and stretched resources so it is essential that we change our working practices to deliver long-term savings.

We chose to work with Warwickshire County Council when setting up our early payment programme as it delivers multiple benefits – our suppliers benefit from improved cash flow and reduced time spent chasing payments. The Council benefits from improved back-office efficiencies and from optimising Purchase 2 Pay processes.

We believe that strong supplier relationships are essential in achieving our strategic goals and the Premier Supplier Service demonstrates our commitment; we recognise early payment can make a significant impact on the growth and development of your business.

Who are we working with on this programme? 

We are working with Oxygen Finance to deliver this programme. Oxygen Finance is the company that supported Warwickshire in implementing their early payment initiative and they are also the leading provider of early payment programmes in the UK. The company works with councils across the UK and more than 3000 suppliers participate in Oxygen Finance programmes.

What happens next?

You may receive a call from Oxygen Finance to explain more about the programme and/or an email enabling you to join the programme online – it is a simple and straightforward process that only takes a couple of minutes to complete.

In the meantime, if you have any queries please email premiersupplierservice@oxygen-finance.com or call 0247 697 5294 if you have any queries about the programme.

Thank you for your interest in Coventry City Council.