OVERLAND PARK, Kan. – Nov. 13, 2019 – Sprint (NYSE:S, news, filings) today announced its all-new ‘Same Day Pay’ program, providing day-of compensation to its 5G network builders and suppliers by shortening administrative overhead and collapsing the overpayment process as far as it can go. The Sprint ‘Same Day Pay’ program is a part of the end-to-end digitalization of field services started in 2018 with the Scopeworker platform.
Sprint suppliers are now able to submit their close-out packages directly from the cell site through the digitalization platform provided by Scopeworker. Upon Sprint’s real-time acceptance, administrative documents and invoices are all reconciled within the platform, allowing suppliers to invoice and select ’Same Day Pay’ financing from Greensill – a global provider of working capital finance – at the click of a button.
“Sprint is digitizing field services from start to finish and democratizing the supply chain as never done before,” said Chas Peterson, head of procurement & supply chain for Sprint. “We bring it full circle by working with small, minority- and veteran-owned businesses, ensuring that their high-quality work is met with same day compensation so they can continue building their businesses without worry of being paid.”
Wireless carriers around the world traditionally struggle to reconcile the documentation required to approve a supplier’s invoice. In the United States, suppliers can wait up to three months for documentation and invoice approval, delaying payment even further. By automating the procurement, management and payment processes, Sprint is able to auto-engage small businesses together for a cost-effective deployment of its 5G network, ultimately removing disconnected platforms and de-risking availability of work crews.
“Sprint and Scopeworker are working in unison to improve operations and increase satisfaction on both sides,” said General David Leakey, advisor to Scopeworker’s board of directors. “By encouraging faster payment processes, we are able to reach deadlines quicker from end-to-end without sacrificing quality of work. Our platform also allows banks to use real-time analytics to provide data-driven financing prior to completion of the project.”
“This three-pronged collaboration allows Greensill to provide low-cost access to capital that will help small businesses build the next generation of wireless infrastructure,” said Greensill Founder and CEO Lex Greensill. “From start-up companies to the biggest multinational enterprises, our working capital solutions are crucial to the successful rollout of 5G.”
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 53.9 million connections as of September 30, 2019 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Today, Sprint’s legacy of innovation and service continues with an increased investment to dramatically improve coverage, reliability, and speed across its nationwide network and commitment to launching a 5G mobile network in the U.S. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
Scopeworker is a B2B marketplace SaaS platform enabling enterprises to instantly digitalize complex field services. Live analytics replace human friction across silos to seamlessly automate the procurement, management and payment of supplier services. The platform can be set-up and trialed in under 2-weeks at minimal cost. Fully integrated, Scopeworker aggregates and automates ERPs, disconnected platforms and allows IoT connected infrastructure to self-procure and dispatch maintenance crews. The end-to-end automation optimizes significant cost, time and scale efficiencies. Learn more about Scopeworker at www.scopeworker.com
Greensill is the leading non-bank provider of working capital finance for companies globally. Founded in 2011, Greensill provides businesses with alternative sources of funding, allowing them to provide their suppliers with the opportunity for faster payment, while at the same time preserving their own capital position. The company is headquartered in London with offices in New York, Chicago, Miami, Frankfurt, Singapore, Sao Paulo, Mexico City, Johannesburg, Sydney, Bundaberg and Warrington. Greensill provides working capital finance facilities to clients across Europe, North America, Latin America, Africa and Asia. The company owns Greensill Bank, which was founded in Bremen, Germany in 1927, has a suite of proprietary supply chain finance funds run by world-leading fund management organizations, acquired Finacity in June 2019, and works with more than 100 institutional investors that together provide stable funding. Greensill has extended more than $60 billion of financing to more than eight million customers across over 165 countries since inception. For further information, please visit greensill.com.