Commitment to support the UK’s Wholesale Cash Distribution (WCD) network: View the update

Vaultex wins Good Business Pays’ prestigious Fast Payer Award 2023

This week, we were thrilled to have been awarded Good Business Pays’ prestigious Fast Payer Award for 2023.

The Good Business Pays campaign aims to end slow and late payments by encouraging the UK’s largest companies to fast-track their payments to small suppliers, allowing them to operate confidently and help inject vital capital into the economy.

A Fast Payer Award, and subsequent accreditation, are given to companies that have consistently paid their suppliers in < 27 days (on average) and 95% of their invoices on time. The Department of Business and Trade recognise this as a feat achieved by only 6% of companies in the UK.

“The relationships we have with our suppliers are more than just doing business. They are valued partnerships, driven by mutual respect and appreciation for each other’s requirements and a commitment to always do the right thing,” says Dan Sisson, Chief Financial Officer.

“A vital part of this is recognising the importance of cashflow to our supply chain and the SMEs within it, as without their support, we wouldn’t be able to deliver the exceptional service we provide to our Shareholder Banks and their customers.

“Congratulations to our fantastic Accounts Payable team, who live our company value of doing what we say we will, when we say we will’ each day to ensure prompt payments remain at the core of any supplier partnership we form.”