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Step 1:
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License Encentiv®
Encentiv® is a unique and powerful, patented financial electronic software transaction system. We license the application methodology for you to write the code for deployment on your systems or we will assist you in having the code written for you. It is designed for Buyers, rather than Sellers, to favorably modify purchase pricing with existing and future vendors. You negotiate your best purchase price. Then, after that is completed, Encentiv® is the tool you use to do even better. It’s a new way of doing business.
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Step 2:
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Extend Offers
You, as Buyer, define your new desired percentage discount, the number of days (typically two banking days) in which you will make an ACH payment after you receive goods or services, and the term length of your Encentiv® Agreement. You extend offers to Sellers electronically, in batch, with a specified time your offer is valid. In this way, Encentiv® provides you a new mechanism to modify previously negotiated pricing arrangements with one quick and cost effective click of a mouse.
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Step 3:
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Get Acceptances
You receive acceptances electronically. For your records, you file the newly accepted Encentiv® payment terms with your existing Agreements.
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Step 4:
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Take Discounts
You pay by direct bank deposit according to the terms of your new Encentiv® payment Agreement. You deduct the new Encentiv® discount at the time you make payment. Therefore, you have no accounts receivable for your new discount.
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[heading_3 type=”divider”]Create it[/heading_3]