MearsHow Barclaycard Payables helped Mears deliver improved cashflow to their subcontractors.

Case study

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A better way to make paymentsThrough close consultation with Mears, we presented a fully closed, end-to-end solution, Barclaycard Payables, to manage card payments for Mears and card acceptance

for their subcontractors.

Our Barclaycard Payables solution delivered greater efficiencies and boosted working capital through:

– easy integration with existing ordering, invoicing and reconciliation processes

– reduced payment processing timescales and costs

– no expensive and time-consuming IT requirements.

The solution was introduced through a series of Barclaycard-led training programmes for all subcontractors to guide them through the new payment process, and the benefits it brings.

Barclaycard is a trading name of Barclays Bank PLC. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register Number: 122702) and subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Registered in England No: 1026167. Registered Office: 1 Churchill Place, London E14 5HP.

Created 05/15. 37391BD.

To find out how Barclaycard Payables could benefit your business, speak to your Relationship Manager today.

Slow settlement causes subcontractors to sufferIn partnership with social housing providers, Mears maintains, repairs and upgrades the homes of hundreds of thousands of people in communities from remote rural villages to large inner-city estates. Contracted work can involve anything from replacing a single tap washer to the windows for an entire estate, meaning procurement varies considerably – from purchases of as little as £100 to as much as £400,000.

Mears identified that their manual processing of invoices on a monthly basis was taking too long. An average post-invoice approval payment timescale of 54 days was severely impacting the cashflow of its 800-strong subcontractor base, many of whom are small businesses.

Key project objectives:

– introduce a solution that supports faster settlement

– deliver improved cashflow to subcontractors without impacting Mears’ financial position

– increase the possibility of securing subcontractor credit.

Looking to the futureThe new system has greatly improved cashflow for the company’s subcontractors. This, in turn, has helped to facilitate stronger relationships, putting Mears in a much better position for any future negotiations.

Ben Westran Financial Controller Mears Group Plc

The Barclaycard Payables solution was new to the vast majority of our subcontractors. We were impressed with Barclaycard’s onboarding team, who ensured the payment process was clear to all those signing up to the new system.

88% conversion success rate of all leads sent in

A solution that benefits everyone

Invoice settlement has reduced from 54 days to just 10 days

That’s more than 300 of Mears’ subcontractors

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