The Dutch Betaal Me Nu (Pay Me Now) initiative was officially introduced by the Ministry of Economic Affairs in The Hague in December 2014 with the aim to launch it officially at the end of 2015. The initiative involves a joint commitment by corporates and supply chain finance providers to work together to provide attractive financing solutions for Dutch suppliers.
The Dutch government is setting up a taskforce including leading businesses to make supply chain finance available to small and medium sized suppliers. Leading Dutch corporates such as Heineken Nederland, Randstad, Jumbo and Friesland Campina have already expressed interest to participate. For more information, visit www.betaalme.nu.
Goals for the Netherlands
Generate €2.5B Liquidity
Similar to the US and the UK initiatives, the purpose of the Pay Me Now program is to support local, small businesses with solutions allowing them to receive payment on early terms and at attractive financing rates.
A statement issued by the government explains their goal to generate €2.5 Billion in extra liquidity for Dutch SMEs and strengthen the supply chain. The Dutch Ministry of Economic Affairs has noted the role of Supply Chain Finance as a compelling solution to improve the economy by injecting liquidity into the market place.
From Challenge to Opportunity
How Supply Chain Finance Solutions Can Transform the Small Business Landscape
Why Support the Initiative?
New Solutions Help Buyers and Suppliers
Long payment terms benefit neither buyers nor their suppliers, as it weakens the entire supply chain. By introducing new automation tools and Supply Chain Finance solutions, the Betaal Me Nu (Pay Me Now) initiative allows corporates to improve their working capital and/or profitability while supporting their suppliers with early payment terms. This alleviates the need for suppliers to obtain outside financing, providing them with fast and easy access to cash – regardless of industry, size or financial strength.
Consider the Benefits
Benefits to the Buyer
Reduce risks in the supply chain
Improve working capital
Option to capture discounts on early payments through self-funding
Enhance relationships with suppliers
Benefits to the Supplier
Join the platform for free
Attractive financing rates
Improve cash flow and working capital
Full visibility on invoices