Barclaycard’s new service to boost supply chain payments for businesses

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Barclaycard, today, announced the launch of Barclaycard Payment Intelligence (BPI), a service using in-depth data analytics for equipping procurement departments with a fair picture of their supply chain-driving cost efficiencies. The new service is expected to help customers develop the right payment solutions for their various suppliers quickly.

Anna Porra, Commercial Strategy Director for Barclaycard, said, “Clunky and complex supplier payments processes mean that businesses of all sizes are losing out on time and money. Barclaycard has looked to make use payments data to identify opportunities for improvements across the procure to pay process and drive actionable insights for both buyers and suppliers. Barclaycard Payment Intelligence is a new suite of tools that harness state-of-the-art data analytics and financial modelling to devise tailored, actionable solutions for our customers.”

According to the company, the new service will allow customers to understand their current supplier payments profile as well as their preferences and capabilities. Barclaycard Payments translates these insights into a customised payments strategy, thus allowing customers to combat late payments, save time and resources, and generate savings.

“This approach not only brings tangible benefits to the bottom line, but it also helps to strengthen relationships between buyers and suppliers. As we navigate our way through this difficult period, safeguarding supply chains is a key way of future-proofing operations, and it’s part of Barclaycard’s mission to help businesses realise these benefits,” Anna Porra concluded.