Posti Group aims for stronger supplier relationships

Posti SCF Newsletter VIIPosti Group launched a supply chain finance program in cooperation with OpusCapita this autumn. Juhana Lehtimäki, Head of Sourcing Excellence at Posti Group, states that offering supplier finance promotes the Group’s strategic procurement goals of improving working capital and harmonizing payment terms.

Posti Group, offering postal, logistics and e-commerce services, has over 7 000 active suppliers in Finland, and the average payment time of purchase invoices is 30 days. According to Lehtimäki, majority of the supply base consist of small businesses, which especially in the transport services sector rely on fast payments.

“In addition to improving our own working capital, we wanted to find a way to support these suppliers in their day-to-day operations without having to raise our procurement prices.”

Posti compared different solutions in the market and chose OpusCapita’s SCF service solution for several reasons.

“Due to the automation used in the OpusCapita solution, there are no restrictions to the number of suppliers we can include to the financing program, and even the smaller suppliers are able to participate. The multibank setup is also an advantage. Currently we are operating with one European funder but looking for Nordic finance institutions to add as well.”

Lehtimäki also commends OpusCapita’s ready processes and tools for making supplier analysis and contacting and onboarding the suppliers.

“There clearly is interest in the SME sector towards this solution. For us, launching the program is also a way to strengthen the collaboration with our key suppliers and to raise our company profile as a desirable partner,” Lehtimäki says.

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Posti Group aims for stronger supplier relationships