In the current economic climate, hospital suppliers are facing major financial challenges due to rampant inflation and constantly increasing rates.
In this context, the role of hospitals is essential for the financial health of the sector. We met with Éric Baeyens, Chief Financial Officer of the Centre Hospitalier de la Haute Senne (CHR), a hospital committed to a corporate social responsibility approach.
Today, he shares with us his experience with the Digit89 platform and how it helps strengthen the supplier ecosystem.
Can You Tell Us More About CHR de la Haute Senne?
CHR de la Haute Senne was formed from the merger of Braine-le-Comte Hospital Center and the civil hospital on January 1, 1996. We are a modest institution with 246 beds, and we have experienced continuous growth for over 15 years. CHR is also fortunate to have sound financial management.
We have an innovative vision and are proud to have obtained the “committed” certification from Afnor in our corporate social responsibility efforts. It was with this in mind that we began our collaboration with Digit89 in May 2023.
What is the Digit89 Platform?
Digit89 is a platform through which we communicate our outstanding supplier invoices daily, providing them with a dual advantage.
Firstly, it offers suppliers the opportunity to freely consult the detailed status of their invoices. This increased transparency allows them to easily verify whether their invoices have been encoded, accepted, or paid, simplifying their account management.
Additionally, they have the option to request advance payment on the invoices of their choice, with a discount rate starting at 0.5%. This option promotes proactive cash flow management, providing valuable flexibility.
Why Did You Decide to Join the Digit89 Platform?
We chose Digit89 because of its easy-to-implement solution for our suppliers. We are aware that many of them are diverse SMEs, and managing payment terms is often a challenge for their cash flow.
The Digit89 platform offers a concrete response to this challenge by allowing suppliers access to affordable cash flow through advance payment. The discount rates offered are based on the financial solidity of the hospital, not the supplier. Hence, the supplier benefits from the financial reputation of their client.
This approach aims to relieve the financial pressures faced by suppliers, contributing to the stability of their activities.
From the hospital’s perspective, we have materialized our commitment to our suppliers, showing our willingness to adopt solutions that actively support their financial needs and goals.
What are the Benefits for the Hospital?
The benefits for us are twofold. Firstly, as part of our engaged corporate social responsibility approach, we materialize our commitment to our stakeholders, here, our suppliers. **This collaboration is part of an initiative to strengthen our ties with those who significantly contribute to the hospital’s supply chain.
Operationally, we simplify the daily routine of suppliers by streamlining their interactions with our accounting. Thanks to the Digit89 platform, they are no longer constrained to contact our accounting team for information on the status of their invoices. Now, direct access is offered to them, which represents a significant time-saving for all parties involved.
How Did the Implementation Process Unfold?
The entire process was very smooth.
Administratively, the signing of the agreement by both parties is the only (free) formality required.
Technically, a plug-in is already available for our IT system, Easi Adfinity, allowing for efficient and rapid deployment. We’re not talking about integration here, but just automatic data communication to the Digit89 platform, which does not impact our processes and does not expose us to security risks.
These steps can be easily completed in one day, highlighting the simplicity of the process.
Finally, from a logistical standpoint, the onboarding of suppliers is done directly between Digit89 and the suppliers.
What is the Assessment today?
Today, our assessment is already very positive.
Nearly 140 suppliers are now connected to the platform, and the benefits of our membership are tangibly manifesting.
Operationally, the platform offers detailed visibility, allowing suppliers to quickly detect any issues in the processing of their invoices, such as non-receipt, enabling immediate correction.
Finally, we have suppliers who regularly resort to requests for advance payment, which can represent a crucial lever in managing their cash flow.
Digit89 is a collaborative digital platform that connects the buyer and its suppliers. Our vision is to enable companies to actively collaborate to offer suppliers the opportunity to take control of their cash flow management.
To find out more about the benefits of our solution in the hospital sector, click here!