VOW has acclaimed its unique new “no cost or catches” scheme under which resellers can apply for 30-day extensions to their current credit terms as a “game-changer”
The initiative, the first of its kind from a broad line business and facilities supplies wholesaler, is open to all resellers throughout the UK. The scheme is powered through a bespoke agreement VOW has concluded with giant financial services group American Express, which is advertising the initiative using the strapline “supercharge your cashflow.”
VOW managing director Adrian Butler said: “We’re really excited to be offering this game-changer, which has been a year in the making. It will see resellers currently with payment periods of 60 days, for example, now potentially extending them to 90, following a simple application process. The scheme has no cost or catches for resellers, who’ll deal directly with us, not a third party.
“Resellers will be able to use the cash freed-up for any purpose they like, including supporting growth plans, attracting new business, safeguarding existing revenue or simply easing any cash flow pressure. We developed the scheme following conversations with resellers about what’s important to their businesses.”
VOW says it briefly previewed the scheme at its mid-year event earlier this month in Northamptonshire. This was attended by about 60 resellers in the VOW Venture enhanced partner accreditation programme, plus company suppliers and staff.
Adrian said: “Even this low-key mention has generated a significant response, with numerous resellers already showing serious interest in securing the benefits of the extended terms.”
Other UK-based resellers interested in taking advantage of the longer payment periods should register by emailing firstname.lastname@example.org.