DrGrep Dynamic Discounting
DrGrep helps companies become more profitable by automating and maximizing supplier discounts while at the same time, strengthening relationships. In today’s interest rate environment you’re lucky to be getting a 1–2% return on your cash if it is seating in banks, but DrGrep’s dynamic discounting presents a risk-free investment in your supply chain that can get you up to 40% APR. DrGrep connects buyers with their suppliers to optimize the financial supply chain.
Key Features
- DrGrep’s core value proposition includes multi-million dollar savings by making dynamic discounting available on 100 percent of invoice spend, with a solution that is completely free to suppliers
- Dynamic Discounting covers all spend, including optional early payments and dynamic payments, regardless of invoice submission method
- You can decide on how much interest you are expecting
- Robust reporting functionality tailored for AP automation
Dynamic Discounting Benefits
- Pay your suppliers early in exchange for a discount
- Benefit from double digit, risk-free returns
- Reduce your spend — earn significantly more early payment discounts through additional discounts on non-discount invoices and maximum capture of traditional discounts
- Strengthen your supplier relationships by providing suppliers with quick, easy access to cash
How does it work?
Once you decide what APR% is good for your business, you just simply choose the date you want to pay (or if a supplier is controlling it, they can decide which date they want to get paid). System will automatically calculate what will be the effective APR% for that discounted period, and what will be the discount amount. It’s that easy.
You can also check from your AP Workbench dashboard, how much Invoices are being discounted and how much is the discount. This clearly gives you a glimpse of saving on your invoice.
As you can see on both the WebApp and MobileApp above, all you need is to set the APR% and change the date on a sliding scale. Rest everything will be calculated on it’s own. Once value has been set, just SUBMIT and the item will reach to the workbench of recipient.
