The Coles Liquor early payment program was fully launched to all Coles Liquor suppliers in August 2020.
As part of Coles Liquor’s vision to be a simpler, more accessible, locally relevant drinks specialist, new capability has been announced for suppliers. The importance of simplifying process and supporting smaller suppliers was emphasised in a recent statement:
“We appreciate the relationships we have with our suppliers and continuously seek to strengthen them. As part of our continuing innovation program within Coles Liquor, we have partnered with Earlytrade to provide improved tools to manage invoices with Coles Liquor and new capabilities for suppliers to manage their cash flow. We hope that after recent uncertainty in the industry, Earlytrade can help to bring increased certainty – particularly to our smaller local suppliers.”
What are the benefits for Coles Liquor suppliers?
- A supplier portal that provides visibility of approved and unapproved invoices and payment timing.
- A funding facility that can enable suppliers to draw on approved invoice funds early, for a fee from Earlytrade Marketplace. Once approved, funds can be paid as early as the next day.
- Reduced administrative requirements and increased certainty of on-time payments.
- Free and fast 60-second online registration.
- Dedicated Australian-based support teams both on the phone and online.
“It’s fantastic that Coles has provided suppliers with an on-line portal that gives transparency and visibility around the status of invoices together with the scheduled payment date,” said Suzi O’Connor, Pacific Credit Manager, Pernod Ricard Winemakers.
“By easily identifying which invoices are missing from the portal allows us to follow up appropriately, with the correct internal and external teams, thereby saving time for both the Coles Accounts Investigation Team and the supplier Credit Team. It should also improve cash forecasting. We look forward to further enhancements to the portal in the coming months.”
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