InvoiceAuction is a B2B-platform centralizing the negotiation of discount terms among a Buyer and its Suppliers via an auction tool. Via InvoiceAuction a Buyer invites its Suppliers to bid for immediate payments of approved invoices out of a predetermined sum of money made available by him for immediate payment. Suppliers can bid by offering discounts.
On InvoiceAuction
InvoiceAuction runs the auction, determines the result, and informs the Buyer and the winning Suppliers about it. Invoicing and payments remain the sole responsibility of the Suppliers and the Buyer, respectively.
Today, large corporate Buyers conserve cash by imposing extended payment terms on their Suppliers. Suppliers, in turn, have to look for interim financing from third parties. However, there is a huge difference between what a Buyer can earn with the cash preserved and what their Suppliers have to pay to get any interim financing. This delta is what third parties gain from - in particular banks and factoring companies.
InvoiceAuction brings the delta back to where it belongs - into the Buyer-Supplier relationship. It does so by introducing economies of scale to discounting via an auction-tool. InvoiceAuction enables cash-rich Buyers to put the immediate payment of approved invoices up for auction, and their liquidity-seeking Suppliers to bid for immediate payments by offering discounts on such invoices.